Loading...
HomeMy WebLinkAbout898173Remrn To: WELLS FARGO HOME MORTGAGE, INC. 3601 MINNESOTA DR. SUITE 200 BLOOMINGTON, MN 55435 Prepared By: WELLS FARGO HOME MORTGAGE, INC. 1919 DOUGLAS,, OMAFLA, 681010000 8932'20 NE [Space Above Tiffs Line For Recordh~g Data[ RECEIVED LIt'~COL~.. COL.~t,.J'ry CLERK '~OOK 534' PR PAGE ~ 20 MORTGAGE ,:,-.CclVED t_lk~CO[.,,',~ C, c) I_ / ~. ~ -r ,; CLERK 898 DEFINITIONS ........ Words used in multiple sections of this docu,nent are defined:?b.' td~.~l 6.¢~,0r(j,W:,~.~ are denned in Sections 3, 11, 13, 18, 20 and 21. Certain roles regarding the Usage o~. ~iSfils'us~de.j;~tTfl~s docmnent are also provided in Section 16. (A) "Security Instrument" means this document, which is dated SgPTg~gR 02, 2 0 03 , together wi~ all ~ders to ~is document. ~) "Borrower" is KgVIN 33 Borrower is the mortgagor under this Security Instrument. (C) "Lender" is gig.LBS FARGO HOME MORTGAGE, INC. Lender is a CORPORATION organized and existing under the laws of THE STATE OF CALIFORNIA 0030145874 WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 NOTE: This serves to correct that certain Mortgage recorded September 8, 2003 in Book 534PR on page 20 of the records of the Lincoln County Clerk to correct the legal description. Lender's address is P.O. BOX 10304, DES MOINES, IA 503060304 021 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by Borrower and datedSEPTEM-BER 02, 2003 The Note states that Borrower owes Lender ONE HUNDRED S~..V~..NTY FOUR THOUSAND TWO HUlffDRED SIXTY THREE 3,RD 00/100 Dollars (U. S. $ * * * * 174,263.00 ) plus interest. Borrower has pronfised to pay. this debt in regular Periodic Payments and to pay the debt in full not later than OCTOBER 01, 2018 0g) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." . . (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under tlfis Security Instrument, plus interest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: [--] Adjustable Rate Rider [--] Condominium Rider [~] Second Honie Rider [] Balloon Rider F~ Planned Unit Develop~nent Rider ~ 1-4 Family Rider [] VA Rider ~ Biweekly Payment Rider F--] Other(s) [specifyl ' (Il) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and adnfinistrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (1) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Pr0perty by a condmninium association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or si~nilar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and auto~nated clearinghouse transfers. (IQ '.'Escrow Items" means those items that are described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or onfissions as to, the Value and/or condition of the Property. (M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" ~neans the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (O) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.)and its implementing regulation, Regulation X (24 C.I~.R. Part 3500), as they nfigbt be amended from time to time, or any additional or successor legislation or regulation that governs the same subject nmtter. As used in this Security Instru~nent, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (~-6(WY) {ooo5} Form 3051 1/01 022 (P) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under file Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of file Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenauts and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the CO~TY of LINCOLN [Type of Record lng Jurisd ietion] [Name of Recording Jurisdiction] ~OMING. KO JH " ParcelID Number: 1539 TOMS CANYON ROAD AUBURN ("Property Address"): which currently has the address of [Si,'eet] [Cityl , Wyondng 8 3111 [Zip Coae] TOGETHER WITH all the improve~nents now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of fl~e property. All replacements and additions shall also be covered by this Security Instrument. All of file foregoing is referred to iu this Security h~strument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and denmnds, subject to any encmnbrances of record. THIS SECURITY INSTRUMENT combines mfiform covenants for national use and non-nniform covenauts with linfited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Priucipal, 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 and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as pay~nent under the Note or this 6{WY} I00051 Page 3 o~ 15 ~,~/~ Form 3051 1/01 Security Instrument is returned to Lender unpaid, Lender nmy require that any or all subsequent payments due under the Note and this Security Instrument be made in one or ~nore 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 insured by a federal agency, iustrumentality, or entity; or (d)Electrmfic Funds Transfer. 0 ~}S"IT~ Payments are deemed received by Lender when received at the location desig]hated'in the Note or at such other location as nhay be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to , _. bring the Loan current. Lender may accept any payment or partial paymeut insufficient to bring the Loan . '._ ..... '~0 current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on mmpplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasmrable period of ti]ne, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note inunediately prior to foreclosure. No offset or claim which Borrower might have ]iow or in the future against Lender shall relieve Borrower from making payments due under th.e Note and this Security Instrument or perfonrfing the covenants and agreements secured by fills Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining ainounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Pay~nent is outstanding, Lender ~nay apply any pay ment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepay~nent charges and then as described in the Note. Any application of payments, insurance prodeeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Pay ments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide lbr payment of amounts due tbr: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premimns for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance prenfimns, if any, or any stuns payable by Borrower to Lender in lieu of the payment of lvlortgage Insurance prenfiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender ]nay require that Conmm~fity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds tbr Escrow Items m~ess Leuder waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may o~fly be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts Form 3051 1/01 due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furifish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender nmy exercise its rights uuder Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such mnount. Lender may revoke fl~e 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, dud in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) snfficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require nnder RESPA. Lender shall estiumte the amount of Fnnds due on the basis of current data and reasonable estinmtes of expeudimres of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insi,red) or in any Federal Home Loan Bank. Lender slmll apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, ammally a~mlyzing the escrow account, or verifying the Escrow Items,' unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or eanfings on the Funds. Borrower and Lender can agree in writiug, however, that interest shall be paid on the Fnnds. Lender shall give to Borrower, without charge, an ammal acconuting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a sbm'tage of Fuuds held in escrow, as defined uuder RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to nmke up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to nmke up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Conmmnity Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the hummer provided in Section 3. Borrower shall promptly discharge any lien which has priority, over fids Security Instrument unless Borrower: (a) agrees in writing to the paylnent of the obligation secured by the lien in a nmm~er acceptable to Lender, but only so long as Borrower is perfornfing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but tuffy until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordi~mting the lien to this Security Instrument. If Lender detemfines that any part of the Property is subject to a lien which can attain priority over this Security Instruxnent, Lender may give Borrower a notice identifyiug the oS98- ?a ~of '18 ~(~-(~,WY, (ooo51 Page ~7~-- Form 3051 1/01 025 lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy file 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 comlection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existiug or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be' maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during file terin of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender nmy require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time cliarge for flood zone determination and certification services and subsequent charges each time remappings or sinfilar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible, for the payment of ally fees imposed by the Federal Emergency Management Agency in com~ection with the review of any flood zone determination resulting frmn an objection by Borrower. If Borrower fails to maintain any of file coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase ally particular type or amount of coverage. Therefore, such coverage shall Cover Lender, but might or nfight not protect Borrower, Borrower's equity in file Property, or file contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained lnight significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by fids Security Instrument. These amouuts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premimns and renewal notices. If Borrower obtains ally form of insurance coverage, not otherwise required by Leuder, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall nalne Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the iusurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not file underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shali have the 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 payment or in a series of progress payments as the Work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or eanfings on such ~proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If file restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with ~-6{WY) (ooos} Page 6 of 16 j,.j~ Form 3051 1/Ol 026 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in fl~e 'order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related ~natters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a Claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or ofl~erwise, Borrower hereby assigus to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to flieOS~S~'~ coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreaso~ably witlflmld, or mdess extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or danutge. If insurance or condmm~ation proceeds are paid in com~ection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds fur the repairs and restoration in a single payment or in a series of progress payments as file work is completed. If the insurance or coudemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent tnay make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on tile Property. Lender shall give Borrower notice at the rime of or prior to such an interior inspectiou specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) iu co~mection with the Loan. Material representations include, but are not limited to, represemations concenfing Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that 1night significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condenmation or forfeiture, for enforcement of a lien which ~nay attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lmder's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c)paying reasonable Form 3051 1/01 027 attorneys' fees to protect its interest in tl~e Property and/or rights under this Security Instrument, including its secured position in a ba~flcruptcy proceeding. Securing the Property includes, but is not liufited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, elinfinate building or other code violations or dangerous conditions, and have utilities turned 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 this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge mdess Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making rite Loan, Borrower shall pay the prenfimns required to maintain the Mortgage Insurance in effect. If, for any reason~ the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to nmke separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay rite premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, front an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of rite 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-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non_refundable, notwithst;mding the fact that the Loan is ultitnately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount 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 prmniums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to nmke separately designated payments toward the preufimns for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirexnent for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until ternfination is required by Applicable Law. Nothing in this r' Section 10 affects Borrowe s obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on ali such insurance in force fr6m time to time, and nmy enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage i~tsurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which nmy include funds obtained from Mortgage Insurance prenfiums). 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 foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the .prenfiums paid to the insurer, the 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 any other terms of the Loan. Such agreements Will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. Initials:-~ 028 (b) Any such agreetnents will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the timeof such cancellation or r,~. ~ ~ termination. 11. Assignment of Miscellaneous ~oceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If ~e Property is danmged, such Miscellaneous Proceeds shall be applied to restoration or repair of fl~e Prope~y, if ~e restoration or repair is econo~cally feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have ~e right to hold such Miscellaneous Proceeds until Lender has had an opporm,fity to itmpect such Property to ensure fl,e work has been completed to 0S98~V3. Lender's satisfactiou, provided fl~at such i~mpection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or iu a series of progress payments as ~e work is completed. Unless an agreement is made in writing or Applicable Law requires iuterest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower auy interest or earnings on such Miscellaneous Proceeds. If ~e restoration or repair is not economically feasible or Lender's security would be lessened, ~e Miscellaneous Proceeds shall be applied to flxe sun~ secured by ~is Security I~tmment, wheflxer or not flxen due, wiflx ~e excess, if any, paid to Borrower. Such Miscellaneous 'Proceeds shall be applied in fl~e order provided for in Section 2. In ~e event of a total taking, destruction, or loss in value of flxe Property, fl~e Miscellaneous Proceeds shall be applied to ~e sums secured by tiffs Security Instrument, whe~er or'not fl~en due, wiflx fl~e excess, if any, paid to Borrower. In ~e event of a partial taking, destruction, or loss in value of fl~e Property in which fl~e lhir nmrket value of fl~e Property inunediately before fl~e partial taking, destruction, or loss in wdue i~ equal to or greater titan fl~e amount of fl~e sums secured by tiffs Security InsU~ment inm~ediately betbre fl~e partial taking, destruction, or loss in value, u~ess Borrower and Lender ofl~erwise agree in writing, ~e suu~ secured by ~is Security I~tmment shall be reduced by ~e amount of fl~e Miscellaneous Proceeds multiplied by fl~e following fraction: (a) ~e total amount of fl~e su~ secured immediately before ~e partial takqng, destruction, or loss in value divided by (b) fl~e fair nml'ket value of fl~e Property innnediately before fl~e partial taking, destruction, or loss in valne. Any balance shall be paid to Bo~ower. In fl~e event of a partial taking, destruction, or loss in value of fl~e Property in which rite fair market value of ~e Property in~ediately before fl~e partial taking, destruction, or loss in value is less titan ~e amomxt of fl~e sums secured i~nediately before ~e partial taking, destruction, or loss iu value, mfless Borrower and Lender ofl~erwise agree in wdtiug, flxe Miscellaneous Proceeds shall be applied to fl~e sunu secured by ~is Security I~tmment whe~er or not flxe sun~ are ~en due. If flxe Property is abandoned by Borrower, or if, after uotice by Lender to Borrower fl~at ~e Opposing Party (as defined in ~e next sentence) offers to ~mke an award to settle a claim for danmges, Borrower fails to respoud to Lender wiflfin 30 days after fl~e date ~e notice is given, Lender is aufl~ofized to collect and apply ~e Miscellaneous Proceeds eifl~er to restoration or repair of fl~e Property or to ~e sums secured by ~is Security I~tmment, whefl~er or not ~en due. "Opposing Party" meaus ~e flfird party fl~at owes Borrower Miscellaneous Proceeds or fl~e party agai:mt whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whefl~er civil or cfinfiml, is begun flint, in Lender's judgment, could result in forfeiture of flxe Property or off,er nuterial impairment of Lender's interest in fl~e Property or rights under tiffs Security hutmment. Borrower can cure such a default and, if acceleration has occurred, rei~te as provided in Section 19, by causing fl~e action or proceeding to be dis~ssed wifl~ a rifling ~at, in Lender's judgment, precludes forfeiture of fl~e Property or other mtefial impairment of Lender's interest in fl~e Property or fights under tiffs Security hutmment. The proceeds of any award or claim for da~mges fl~at are attributable to fl~e impairment of Lender's interest in fl~e Property are hereby assigned and shall be p~d to Lender. All Miscellaneous Proceeds ~at are not applied to restoration or repair of the Property shall be applied in flxe order provided for in Section 2. (~I~-6{WY, 10005, Page 9 of 15 Form 3051 1/01 029 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the stuns secured by this Security Instrmnent granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability Of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend ti~ne for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any denmnd made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any 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 than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. BorroWer covenants and agrees dlat Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a)is co-siglfing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the 'terms of this Security Instrmnent; (b) is not personally obligated to pay the stuns secured by this Security Instrmnent; and (c) agrees that Lender and any other Borrower can agree to extend; modify, forbear or nmke any acco~mnodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall' not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Insu-ument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, fire absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on rite 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 that law is tiredly interpreted so that rite interest or other loan charges collected or to be collected in cmmection with the Loan exceed the permitted linfits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pernfitted limit; and (b) any sums already collected from Borrower which exceeded permitted Ii,nits will be refunded to Borrower. Lender may choose to amke dlis refund by reducing die principal owed under the 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 prepay~nent charge is provided for under the Note). Borrower's acceptance of auy such refund nmde 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 fids Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class nmil or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has desiglmted 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 Bon'ower's change of address, then Borrower shall only report a change of address through that specified .procedure. There may be only one designated notice address under this Security Instrument at any one ume. Any notice to Lender shall be giveu by delivering it or by mailing it by first class nmil to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with fids Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirexnent under this Security Instrument. Form 3051 1/'01 o8981,?a o8. ag;8o 030 16. Governing Law; Severability; Rules of Construction. This Security Instru~nent shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in fids Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions' of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the nmsculine gender shall mean and include corresponding neuter words or words of the femi~fine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may, gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrumeut. 0~.,~ 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, instalhnent sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person a~d a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender nmy require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of fids period, Lender may invoke auy remedies pernfitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of fids Security Instrument discontinued at any time prior to the earliest of: (a) five days befure sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the ternfination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender nmy reaso]mbly require to assure that Lender's interest in the Property and rights under this Secm'ity Instrun]ent, and Borrower's obligation to pay tim stuns secured by this Security Instrument, shall continue unchanged. Lender ]nay require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) ~noney order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, insU-umentality or entity; or (d) Electroific Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to rei~tstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrumen0 can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as fl~e "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other intbrmation RESPA (~-6(WY) ,O006J Page 11 of 15 4~1.,I Form 3051 1,01 031 requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may connnence, join, or be joined to any judidial action (as either an.r;. individual litigant or the member of a class) that arises from the other party's actions pursuant to this.. Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reaso~mble for purposes of this paragraph. The notice of acceleration aud opportunity to cure given to ·Borrower pursuant to Section 22 and rite notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy rite notice and opportunity to take corrective action provisions of this ~ection 20. · 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Enviromnental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Enviromnental Cleanup" includes any response action, remedial action, or removal action, as defined in Enviromnental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger au Environmental Cleanup. Borrower shall not cause or perntit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the P.roperty (a) that is in violation of any Environmental Law, (b) which creates an Envirmm~ental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Pi'operty. The preceding two sentences shall not apply to the presence, use, or storage on the Property of snmll quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any iuvestigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving rite Property and any Hazardous Substance or Environmental Law of wlfich Borrower has actual knowledge, (b) any Environmental Condition, including but not linfited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any govermnental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance hffecting the 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 Environmental Cleanup. Initials:~ (~-6(WY) (O00S! paga 12ol 15 ~["~ Form 3051 1/01 032 NON-UNIFORM COVENANTS. BOrrower and Lender further covexmnt and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to accelerntio~ following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to.__ neceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a)r, .... . the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date'_':"._ '~ the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice tony result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the rigbt to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on {~][~;;~0'~ ''',',* before the date specified in the notice, Lender at its option may require immediate payment in full'~'f~¢~}~ f~ll all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance witb Applicable Law. Lender shnll give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorueys' fees; (b) to all sums secured by this Security Iustrument; and (c) any excess to the person or persons legnlly entitled to. it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the tee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exe~nption laws of Wyonfing. Form 3051 1/01 033 BY SIGNING BELOW, Borrower accepts and agrees to the terms and cove~mnts contaiued in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: KEVIN D HYDE (Seal) -Borrower g'LTiso -Borrower (Seal) -Borrower KEVIN D. HYDE (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower I~)6;6(WY]/ooosl Pag~ 14 ol 15 Form 3051 1/01 034 STATE OF WYOMING, LINCOLN County ss: Thef°reg°inginstmmentwasackn°wledgedbef°remethis '~~~ 4 ~/~)D3 by KEVIN D HYDE AND JANICE F HYDE My Commission Expires: STATE OF WYOMING ) )ss COUNTY OF LINCOLN ) The foregoing instrument was acknowledged before me this 2004 by Kevin D. Hyde and Janice F. Hyde. day of March, My Commission Expires: June 20, 2007 lic (~I,~-6GIWY) 60005! Page Form 3051 1/01 Philip M. Kleinsmith Wyoming Bar No. 5-2952 Kleinsmith & Associates, P.C. Attorneys for Plaintiff 6035 Erin Park Drive, Suite 203 Colorado Springs, CO 80918 1-800-842-8417 District Court Clerk 3rd Judicial Dimtrict 925 Sage Ave. Kemmerer. WY 83101 DISTRICT COURT, LINCOLN COUNTY, STATE OF WYOMING vs. (1) (2) · (3) (4) (5) Citifinancial Mortgage Company, Inc. F/K/A AVCO Financial Services of Idaho Falls, Inc. Plaintiff(s) , George R. Burdick Genevieve Burdick United States of America Farmers Home Administration Unknowns: All Unknown Occupants And~Or Tenants Of The Subject Real Estate Unknowns: All Unknown Spouses Of Any Party Hereto And All Other Persons Living Or Dead Whose Names Are Unknown, Who Claim Any Interest In The Subject Real Estate Defendant(s). Case No. 10913 Sheriff's Deed Date of Judgment: June 4, 2002 Judgment Amount: Date of Sheriff's Sale: September 19, 2002 Bid Amount: Successful Bidder: CitiFinancial Mortgage Company, Inc. Address: 1111 Northpoint Drive, Bldg. 4, Suite 100, Coppell, TX Real Estate: Common Description: $ 68,166.20 $71,903.49 75019 109 Circle Drive Afton, WY 83110 Leqal Description: LOT ~11 OF THE WESTVIEW VILLAGE SUBDIVISION, ACCORDING TO THE PLAT AS RECORDED IN THE OFFICE OF THE COUNTY CLERK AND EX -OFFICIO REGISTER OF DEEDS OF LINCOLN _COUNTY, WYOMING.