HomeMy WebLinkAbout899609Return To:
Llncoln-Ulnta Revolving Lo~ Fund
PO Box 215
Lyman, WYOI~ING 82937
Prepared By:
RECEIVED
LINCOLN COUNTY CLERK
25 Plt 2: h 9
;..,.;,:FtTV:'-F;,~ , ;: ~.: "
MORTGAGE
5
DEFINITIONS
Word~ used m nmlti.ple sections of tlxis doctmxent ~re de~e,d bclow and ,){her words are delLncd in
Seofio~ 3, 11, 13, lg, 20 a~ 21. Ce~ mlca reg~.t fl~e tu~e ofwo.~ used ~ ~s document
~so pto~d~ m Secdon 16.
(A) "Sec~i~ Instr~nt' means ~s dec.eat, whch is ~cd May ~ 2004, toge'ther wifl~ all
~de~ to ~s doc~ent.
~) "Borrower" ia Dasfd ~L H0ffman, an ~rried man, Bo~ower is ~e mortgagor ~&r
Secuh~ ~sm~t.
(C) "Lender" is Lincoh~-Uinta Revol~ ~an F~md. L~r is a co.option org~ed
exia~g ~der ~ laws of the State of ~'O.g~G. Le~der's ad&as is PO Box 215, Lymaa,
~TOM~G 82937, Lender ~ az mortgagee '~der ~$ gec~9' ~ent,~
~) "Note~ me.as the prepaiD' note st~ed by Bo~o~r ~d dated blay 2~ 2004. The No~ stateg
~ Bo=ow~, owes L~d~ ThirD- Thouiand ~d 00/100 Doll. s (US S 30,000.00) p.t. us
go.ewer h~ prot~sed w pay fl~ debt hi r~l~ P~odtc Paten8 ~d to pay &e debt m hll not
lat~ ~n. June 1, 2011.
~) "Prop~rW' mea~ ~¢ prope~ ~at is described below ruder the hea~g "Trm~sf~ of ~ m
· ~ Pro~,"
(~ "Loan~ n~ the d,bt evidenced by ~ Note, plm mte.~est, any prepaym~t c~ges and
charges due ~d~ ~e Note: ~d ~1 ams due ~.d~ Otis 5[cmn~ Iasmrgat, plus
(G) "ffidera' me~ all ~d~ to ~is gec~ry I~m~eut ~t ~e ~ecuted Dy B~oweL
fot.lo'~g ~ders ~e to be executed by Bo~ower [~heck box as applicable]:
WYOMING-Single Family: Faoaie IMae/Freddi, Mac UNIFOR/q INSTI!U-MEN-I'
Pasc 1 of 16
wy, rd
'-..' ,. 665
Retttrn To:
L~neolm-Iqnm Re~ing Loa~. Frond
PO Box 215
Lyman, WYOB'tlNG 82937
Ama.: SHIPPING DEPT./DOC, CONIROL
P r~"pared By:
[ ] Adjusn~ble Rate K/der [ ] Condominium Ride-r [ ] S~cond Home Kidcr
[ ] Balloon Rider [ ] Plied umt Developmenr~d~ [ ] 1-4 F~iy'hdcr
[ ] VA ~dcr [ ] Bi'~.c~yPa)ment ~der [ ] Others) [spcci~]
~ "Aport. cable La'~' me~ all con~oHmg applicable redeem, sm~ and local statures, regulafiom,
ordm~ces ~d a&~.~h'a~ve roles ~d o~ (~t ~,'e &e effect of law) as well a~ all applicable
~, n.on-appea~ble ju:~clal
~ "Co~udvd As~clafioa Bu~, Fees, and A*~essme~/s' meam ~1 aues, thcs, ~sessmcnB
o&er c~ges ~at ~.~ ~pos~d on Bonowcr or ~he Prope~ by a cv~for~dam
~at~x~em association or sin~' org~za~on.
(J) "El~tronic Funds Traniter" me~ ~y ~fer of ~l~, o&er than a ~ac~on odg,~ted by
check, &afl, or si~.la.t paper ~menh which ia imfialed tktou~l an *lec~ontc te~al, televhotfi~
~sm~mt, co~uter, or malefic ~pe so as to orfl~, ~;s~ct, ot aufl~o~e a fmancml
debit or credit ~ accot'az, Such te~ i~cludes, ~t ~ ~t h~fit~d to, pol.at-ob~e ~mqs~rs, aummale~
teller ~chh~e ~cfions, ~fers ~g6amfl by telephone, ~:ue trysters, ~d au~o.~a~d
ole~ouse ~,fem.
~ "Escrow Items" ~s~ '~osc items flint ~e ~sc~d ha Sechon 3.
~) "Ml~eHaneous Proc~ds' means ~y compe~ation, seglemem, awed of d~ug~s, or proceeds
paid by ~y ~d pm~' (o~er t~ time.ce pr~ccds paid ~der ~e ccvcrages descnt~d
for: (i) dmemge lo, or destruction o~ ~e Pmpc~: (iO coud~ion or o~er *~king of all er ~y pan
of ~e Pro~; (iii) convoy~ce m heu ofeoudem~non; or (iv) ms~rtsenmfiom of. ~r ormss~om as
to~ the ~lue m~or condition of ~e
(M) "Mor~age las~i~ce' me~s ~nsm~cc psot~fiug Leuder aga~t ~e norq~a)~nent of, or
~) ~Perl~e Paymen~~ me~s ~e re~ly schedul~ anoun~ duc l~r (0 p~ipaJ and ~e~csl ~der
(O) "~Sp~~ ~ ~e RealEsmte Se~lement Proced~;s Act (12 U $.C See~on 2601 ~t ~eq. ) ~md
it~ h~plemen~ng m~adoa, Regulation X (24 C.F.R. Pa~ 3~00), ~ ~ey n~t be ~m~flu'd flora time
to ~e, or any addi~o~al or suc~esso~ legislation or regulation ~mt gov~ the ~e subject
'~ ~d m ~s s~ In~ent, "~SPA" refe~ ~o all tequ~em~.~m an~ tes~cfion~ ~ ~'e
~posed ~ reg~d to a ~%e~r~ly related mongag~ 1o~' even if ~ Lo~ does no~ quali~
"~dersIly related m.o~gage lo~" ~der ~SPA.
~) "~ueco~or ~ Ime~ ~:t of Borrowe~" me~ ~y p~ ~t ~s ~en ~de m ~e Prope~,
or not ~ p~ has ass~ed Bo~wer's obliga~io~ under ~e Ne~c ~d~or ~s gec~i~
TIL~NSFER OF .RIOHTS fN THE. PKO?ER,TY
WYOMING-Single. Fanuly Fa.n~ bls~/Freddie Mac UNIFORbl INSIlRI.~[ENI
Page 2 of 1~
~.'yctd
Form 3051 1/(11
,,,,,,,,:
666
This Security Instmmen.~ secures to Lender: (i) the repal,'mem o£ the Los:l, and all. renewals, extm~siom
~ modificati, ox~ of th,: Not,; and (ii) the Ferfmmance of BormweF~ covenanu: ~.d agreements trade[
tSjs .%curtty I~slrmnem and the Note. Fo~ thi,~ purpose: Borrower does hereby mortgage, gr~mt and
convey ~o L~de~' and L~nder's ~uc~essora and -:s.ssigr~s, with power of .~,~le, the follo~,in~ described
SEE EXltlBI]? "A" ATTACLK32D IqERETO AND BY "I'HlS R}~FERENCE MLADE A PART
ItEREOF.
Parcel ID Number: 211~J1442116800
which currently ha~ the ad&ess of
:t17 Em,raid S~reet
[Street]
Kcmm~rer ICily], Wyo~ 83.t~1 [Zi~ Code] ("Pro~ Ad~e~" ):
TOGEq~'ER ~TH all O~e it~mvemea~ now or h~eafl~r erected on ~e prope~, and
addifio~ ~11 a~ ~ covered by ~ S¢c~w ~ent All or ~e, forego~ b rd.:ed to ~
~cep~ fer ~e~bra~e$ of record. Bo~owel wmanh, ~d ~11 dCf~ad genially ~ l~tl¢ 1o the
Propeay aga~t all ~l~d de.ands, ~bject m ~ e~eu~bmac~
T}~S SECI~'~ ~'S~IENT combines tmifem~ eov~n<~ for aa~o~l u$~ aad aon-
¢ov¢~g c¢~l prop~.
1. Payment ~f ~r~ei~al, Inter.l, E~ro~. ltema, Prepayment Charges. and
ChargCa. Bo~owec ~1~ F~ whea due ~ p~¢~pM o~ ~d intcc~st on. ~ debt ~vidCn¢ed by ~e Note
~d ~y pc~a~at ch~-ge$ ~d lat~ c}~rg~ d~ ~r ~¢ No~. Bo~ow~f a~all ~ho p~y i~d.s for
Escrow Ite~ p~;~nt to Section 3~ P~m.~B du~ ~dCr ~e Note ~d th:ia S~ ~m~ent shah
~d~ ~e No~ or ~i$ S~o~W ~nt ~s r~ed ~ Lender ~p~{d. [~der ma). ~q~ ~a~ ~y or
~a~o~ fo~, as $~le~t~d by L~d~r: (a) cas~ (b) monet order; (c) ~ifi~ Ch~k. b~
ee~r's check or casM~r's ~h<k. plo~d ~y $~cb Check is ~a~ upon ~ M$~tio~
~OMIN~Single Fmffily- F~naie Ma~red~ Mac ~lFO~l
For~051 1/~
Pa)~,ent~ are deelned received by Lender when r~ceived at the location designated £u ~e Noto
o~ at such o~e~ location as may be desisted by L~der in accord~e ~ lhe nofi~ pro~siot~
Sectl. on 15. L~d~ may mrm mW pa)~ent or pm/al paym~t i~ O~e pa~t or papal 9aymena
~nsuffici~t m b~g ~e ~Lo~ om,at. Lendei may ~cept any pa>mcat or pm~ paynae;~t Jsut~cient
to bring ~e Loi~ c~:ai, ~out waiver of any ~ he~der or ~judice to i~ xights to
such pa~t or p~al pa~m~ h the ~re, but L~der is not ob~gated to ~ly such pa~en~ at
fl~e ~)~e such paymea~ ~e accepted. If eacb. P~odic Pa~ent is ~pplied as ofi~ sched~ed due dale.
fl~. Lender need not pay ~te~t on ~applied ~ds. L~der may hold ~uch atdp}lied f~d~ unOl
Bo~ower ~es pa~e~xt to b~g &e M~ cwrent. If Bogo'~r does not do so ~n a ~a,onable
period olde., Leader s~all ei~r apply ~ch ~ds ot r~ ~em to Bo~ow~. If not applied earlier.
such ~ds ~11 be applled to ~e outs~d:i.ng p~c~pal bal~ce ~de~ ~e Not~ inune~ately prior
foreclos~e. No o~et or cla~ x~heh Bo~wet ~ght ~ no~ or ~ the ~ aga~i Lender' shal~
~lieve Bo~wet ~om ~a~g pa~en~ due ~der ~e Note ~xd ~s S~uh~' ~ent or
2. App~cafio~ of Pa~ehta or Pr~eeds. Except ss o~e~fi~e described ~ tMs Section 2,
all pa~en~ accept~ and applied by ~nde~ ~a~ ~ applied ~ ~e ~llo~ng order of.priories (nj
int~est dae ~d~ ~¢ No~; (b) p~cipal due ~der ~e Note; (c) amo~ls due ~der Section 3. Such
pa~ents s~ll be applied to e~h Pe~odic Pa~ent ~ ~e oMer M which it beene, due
rez~g ~o~ts s~H be appfied f~st to late c~ges, ~cond ~ ~y ~er ~ao~ts due ~der
Sec~W ~en{, and ~en to ~duce ~e p~cipal balance of~e Note.
If ~nder r<eives a pa~eRt ~om ~ower for a dr~nqu~nt Pe~odie Pa~ent
includes a su~c.i~t ~o~t to pay ~y l~e c~g~ due, ~e pa~ent may ~ appH~ ~ fl~e delmque~t
pa~ent ~d ~¢ i~t¢ c~rge, if~ ~ one P~c Pa~t is o~ts~d~ Let~der may apply ~y
pa~en~ t-ece{x,~ ~om IIo~'~r to ~e repaint of ~e Periodic Ps,tnB if and m ~ extent
oach pa~e..ot c~ be p~d m ~l. To ~e exte~.t that ~y ex;c~$ cxist~ are? ~ pa~e~t i$ epplied
~.e.~l pa~.t ef one ~or more Pe~o~c Pa~e.uts, such excess ~y br. app~ed {o ~y late ch~ge~
due. VoI~' pr~a~nts ~ll be a~L~ed ~st ~ ~y p~p~)~ent chases ~zd ~l ~ des~befl m
~ Note.' ,
~y applicatio~ of pa~amts, ~s~ance pr~ds, cr Miscell~,.eous Pt~ to principal due
~der ~e No~ sl~H not extend ot post~ae ~ due da~: or ch~ge ~e amo~t of ~e
Pa)anents.
3. F~ds for ~serow Items. Bo~ow~ s~ pay to Le~er on ~e day Periodic Pa~n~ ate
dt~ unfl~ ~e Note, ~t'il ~e Note is p~d ~ ~ll, a ~um (~c "F~" ) to p~de for~ pa~t
~o~B due for: (a) ~es ~d assessments ~d o~er i~ wMeh c~ a~ pEofi~ ov~ ~2s
h~ent as a Ii< or enc~bm~e on ere Prope~'; ~) le~e~ld pa~euts or ~o~d t~ats on
P~e~, ~ ~y; (o) premiss iht any and all ins~ce ~qu~ed by Lender uadex Section 5; ~d (d)
MOP,ge Im~ce. pre~, if ~y, or any s~ payable b}- Bono,~'er to Letadet m lien o~
i~s ~e called "Escrow I~ems." At ofi~tion ~ at ~,y time dut~g ~e ~ of ~e ~, ~'. e.~xd~ may
requ~e t~t Cogu~M~ AsSertion ~es, F~s, ~d Ass~, if ~y, be escrowed by Bo~owcr,
~ such ~es, f~s and. assessors s~!l be ~ Escrow Item Bo;~r ,shaB. promptly ~sh
Lender all notices of ~0~ to ~ prod ~der ~Js Sec~on. Bo~wer shall pay L~ndec the F~ lbr
Escrow It~ u~es~ ~ader ~i'ves Bonower% obligation to pay ~e F~s for ~y or all Eocmw
I~. l~er nny waive Bo~w~'s obligafi.~ D pay ~ Lender F~ds for any or all E~crow Items at
~y t~e. ~y such ~miver ~y oMy be Ux ~g. ~ ~e ex~nt of such waiver, Bo~owet sh~l pay
W3ffOMh",lG-Single Family- tanede Ma~/Fre~l~li¢ Mac UNIFORJSI I.N,gTR{flVlENT
Page 4 of 16
Farux]~(~/1 liO1
d~cctly, when and where~payable, the amount~ due ~or ~y E~cmw Item t~r w~ch pa~cnt cfF~ds
h~ been ~iv~ by Lender ~.d, ff Len~ req~c~ s~U ~sh to Lmdcr ~ca~ipU c~d~ncm~
p,~.c~t ~.~u such ~ period ~s Lea~ m~y reqm~. Bo~ower ~ obh~anon ~o ~ ~uch
mtd m provide ~eipts sh~ll for all pu~ses be dc~ed to be ~ co~t and a~ec~ent conumed
ob~ga~d to pay ~ow l~t~ d~ecfly, p~su~t m a waiver, and Borrower ~s to pay ~e ~no~t due
t~' ~ ~.sc~w It~, L~der may cxe~lse Its ~ts ~dcr Scc~on 9 ~d pay such amo~a ~d Bon'owcr
sh~U ~e~ b~ ob~d ~d~ S~/ion 9 ~ ~pay to Lc~cr any ~uch ~o~r. Len~ may
waive~ as to any or ~1 Escrow I~ at ~y ~e by a notice giv~ ~. accord~ce with ~ec~lcn
upon such revoca~on, B0~cwct ~U pay to Lender all F~&% and in such ~o~ts. ~t ~ then
requ~ed ~der ~ S~on 3. ·
~de~ may, at ~y ~, collect ~d hold F~ m an ~o~t (a) su~c~ent ~ pe~t Lender
to apply ~e Funds at ~'~e sp~ified ~dex ~SPA, and ~) not to exc~d ~, ~ ~o~t a
lender c~ req~e under ~SPA, Lender s~ll estate ~e ~o~t of Ftu~ due on
current da~ ~d re.on.lc e~'t~t~ of expendi~es of ~e ~crow It~ or o~e~se
acco~ce ~ Applicable L~w.
~he Fu~, s~ll 0e held in ~ i~timtio.n ~vho~ deposits ~e ~d by ~ ~eral agency,
~enflli¢, m rnti~ (includ~ L~nder, if~de/is m inshmtion whose deposi~ are so i.m~med)
m my Federal Hom~ Loan Ba~ ~dg ~hag a~ly u[~ F~s ~o pay the E~tcw Ite~
&e t~, ~pecified ~d~r ~SPA. L~der s~ no~ ch~ge Bo~wer for holding ~d
Fmada. really ~lyzi, g the escrow accost, or vefi~g ~e E~ow I~ms, ~es~ L~der pays
Bo~wg interest on ~e F~cla md ~plic~le L~w ~im Lender ~ ~c such a c~ge. Unless
a~ent is ~de ~ ~i~ia8 or ~phcable l~w r~qukes ~ler~t to be prod on ~ F~&, Lender ~hall
not be required to pay Bo~}~o~er ~y ~t or earning, on ~e F~ds. Bonow~ ~nd ~nder c~
m ~g, ho~ver, ~t interest ~a~ ~ paid on ~e .F~. Lmd~r ,~1 give to Bogower, ~ou~
c~ge, an ~ual acco~,g of fi, Fred, as requ~ by ~SPA.
If ~ere is ~ s~l~ of F~ held m ~ctow, ~ deFm~ ~dg ~SPA, Lender sh~l accomu to
Bo~ower for ~e ~c~s ~ds ~ accor~ce ~ ~SPA . If ~ere i~ a shomge of F~ held
e~tow, as de,ed ~der 2~ESP~& ~n~r shall noti~ Bo~ower a~ req~d by RESPA, ~d Boirower
s~ll p~y to Lender ~e a[ao~t uacess~ to nl~e up ~e sho~dge ~ accor~ce ~ ~SPA
no more 0.t~n 12 money pa~n~nts. If ~ere is a d,ficiency of F~ds held itt ~crow, m defined ~mder ·
~SPA. Lender ~all not:~ Bo~ow~ as mqu~ by ~SPA, ~ld Beheer ~1 pay m Le~r
mo~t neceaa~, to m~e up ~e defi~.ency i~ accor~ce ~ ~SPA, but ~ no more flm~ 12
monfldy pa~ents.
Upon pa~ent m ~I1 of a~ su~ ~d by ~t~ S~W l~m~at, ~nder ]h~l promptly
re~d to Bo~ower ~y Ft'.~& held by ~d~.
4. Charge,; Lie~. Bogow~ ~11 pay all mx~. as~essm~ts, ch~ges, fmcs, ~d ~nposifio~s
a~bumble to &e Pmpe~y ~ch c~ a~ pho~ over fids Sec~ ~h~cnt, leave. Id
or ~und ~B on ~e P.r0p~y, if ~y, ~d C~mB, Association Dues, Fee~, ~d ~sessn~nu, if
m]y. Io ~e extent ~at ~¢se ite~ ~e E~crow I~m, Bo~ower ]~ pa). ~em m ~e m~.g provided
m Section 3.
Bo~ower ~dl promptly ~sc~rge any hen which ~ priority over ~ Secufi~ Instalment
u~ess Bmrow~: (a) a~eea in ~ to ~e pa~t of&e obligation se~d by ~e lie~ in a maker
acc~mble t~ Lender. hut 0nly ]o 1o~ ~s Bo~ower is peffo~g such a~e~men~ ~) co,tests fl~ lien
~ ~od ~ by, or dean& agaimt enfomm~t of ~e hen ~, legal proceedings wkich m Lender's
WYOI~,~[INC-$ingI¢ Fgnily- Fnnnle Ma~/Freddl~ Mac UNIIrOI~M/d~STJt[rM.I~NI
Page 5 of 16
66'9
opinion ol::e,rate to prow. hr the e~r?or¢~¢n~ of the lien ~'h.ile those prot;eedings are pending, but only
until such proc.-eding¢ are concluded; or (c) secures £'om the holder of the li~ lm agreemem
satisfactory to Lerichtl' st~tbordbiadng the lien to this Security' L, as~rume,ra. It' I..ender determine~, that any
pm-t o£the Propen-y is. s;abject to a lien which cma amain priority over this Secun.ry It~trumem, Lender
my g]x,e Borrower a liotice identifying he lien. W~thin I0 days of ~e date on wh/ch mt notice is
glven~, Borrower shall s~dsfy the lien o.~ take one or mote of the actiot~a se~ forth above in this Section
4.
!. coder niay req.uL~ Borrower to pay a one-time charge for a real estate tax vc~ficaticn a,acL'or
repox'tiag service used b',) Lender in connectioti ~th th/s Loan.
5. Prolt)erty Insurance. Box'~)wer ~-4ta' II keep the improvements now exLs~iag or he~eattcr'
e. rected on the P~'opertT. L, xsu~ed agams~ los~ by fire, haza'tds included .~-ith~ the t~rai "e~tcnded
coverage," and any oth,~ l~azards including, but not t~mJted to, earttiquakes ~d floods, fur which
Lender requites insurance. This ms'~ ,anco shall be maintained hi the ~mo~tts (inchlding decl~ct/ble
levels) and for the periods that Le, nde~- require.s_ W hat Lender reclu;res pursuant to the preceding
senutnces can change during the tem~ of the Loan. The ir~urar, ce carrier orovicti2.tg the. i.n~ttrs.uce shall
be chosen by Borrower subject ~o LendeCs right to disapprove Borrower's'choice, w~¢h right stroll
be ex~'rci~ed unreasonably. Le~der may require Borrower to pay, in cor~uection with ~is I.oan, ezther.
(a) a.oae- ;t/me charge for flood zone de~ermi~tictu, centificadon and ~racki~ services; or (b) a one-time
charge for toad zone ,:leteania~don azxl certLfica~ion servic~i ~nd st,.bsequent charges each time
~em~,ppings or similar cb.a~ges occur which reasonably rnJght affect such d~termination or certification.
Borrower sb~ll also be :'espo~l~ble for die payment of any fees haxposed by the ForE'cat Emergent)
M~aagement Ag~cy ba :onnecfion with the revi. ew of any flood zone dtte..n~oadon re~-ultmg fi-o~n a~;.
objeetlon by Bon'ower, '
If Bon'ower fa~.ls to malntaLu ~nv of the coverages described above, Lender mz~y obtain
Lusurance coverage, at i.enacr's option and Borrower's expen.~e, Lende~ Js under no obl[gattoa
pu~.hase, any particular' type or amotmt of coverage. Therefo,% such coverage sLta!l cover Lender, but
might Or might not protect Borrower, Boaower's equity n~ the Property, or the contents of the .Pre, pen3,,
against any ~a~, Jaza. rd 0r liability and might provide gl'eater or leszer cover, sge ~han was pre*'iottsly in
effx~ct. Borrower acknowledges that the cost of the insurance coverage .so obtained m~ght
exceed the cost of insur~i~nce th~ Borrower could have ob~aiz~.ed. A~) amount~ disbursed by Lectdet
trader this Section 5 stuall be. come additional debt of Bon'.owe~ ~cured by this S~.c'.ttrity Iu.stru-rttent.
These amotmts s~lJ be~' interest at the Note ram from the .,tare of disbursement mid shall be payable,
with such interest, upon ~'otice from Louder to Borrower request~ payment.
All insurance policies required by Lender and renewals ol/' such policies slmll be subject to
Lea)dc:r's r~.gh~ to disapprove such policies, shall include a s~an ,dard mortgage clause, ~d shall name
Lend~' a~ mortgagee and'or as an additional loss payee. Leader shall have the ngb.t to hold the policies
~md 'renew'al certi.fi.cates. If Lender requires, Borrower shall promptly give to Lender all receipts t~f
paid premi:u~ns and re~,;w'ai notices, [£ Borrower obtains any form o£ insu~a,z~ce cove. cage, not
ctherwlse required by Lender, for damage to, o~ de. sa'act/an of, the Property, suchpolicy shall include a
staasdard mortgage clause and sh',fll name Lender as mortgagee and/or as afl add/tional loss payee.
In the eveht of. 10ss, Borrower shall give prompt notice to the ~sur~.ace carrier and
Lender may make Proof of loss if no~ made promptly by Borrower. Unless Lender ~d Borrower
otherwise agree in w~itiotg, any inst~,'ance proceeds, whether or not d~e uuderlying instu~a~tc~ was
required by Lender, shall'be applied ro restoration or repair of the Property, if tt',e restoration or repair
is economically feasible and Lender's security is ~.ot lessened. Dur/ng such ~'epah' and resU~rataozi
Page 6 o~ hal,isis:
period, Lender shMl ha~'e the fight to hold sucfi insurance proceeds until Lender has had an opportunity
to fltspec, t such Proper~ t¢ ¢~:tsure the ;York has been co~p.p/eted to Ler~der's satisfaction, prcJv~ded that
such /n~pection shall l~e uademken promptly. Lender may disburse proceeds for the tepau's and
restoration in a single paymeni or m a series ofp~o~ess payments as the woric is ¢ompletc--,d Uvless aa
~greemenr ia made in 'wrimag or Applicable L~',~' r~quires mtc~'e,~t to bt paid on such ~nsuranc~
proceeds, Lender s.tzall, not ibc required t~ pay Borrower any interest or earning,,', on such proceeds. Fees
for pubEe adjustors, o.r cd, er third parties, reissued by Borrower sha[l ~lot be paid out of the h~urance
proceeds and shall be ttte sol, obligation of Ben-ewer. If the restoration or re-Fair is act economically
feasible or lznde'r's sec:uaw would be lessened, the insurance proceeds shall be ap~phed to the sums
secured by this S~curity ln. strtunent, wke~hex' or not then due, w/th the ;.¢¢ess, Jf any, paid to Bonower
§uch inSurao.ce l:,roceed'., sl2;all be applied in the order provided for in Section 2.
If Borrower abandons the Property, Lender may file, negotiate and settle any available
in. sugarier claim arid related marteN. If Borrower does act cespond within 30 days to a no,ice from
Lender that the ms ,urance carnet b~ offered to ~ttle a cl-,d, rn, then Lencter may negotiat~ and s~ttl~ the
claim. The 30-day period wilt beipSa when the n~tice is g/yen, kl eider ex'eat, or if Leader acquires the
Property under Section 22~ or ether'wise, Borrow'er hereby assign~ to Le'ador ia) Borrower's rights to
any i~.stw&nce proceeds in an amount not to exceed the amounts ~w,.paid ua& rko Note or this Security
Instrument, ~nd (b) an).' other of Borro~s~r'a rights (other than ~e fight to any retired c,£ unearned
premiums paid by Borrt~wer) under all insurance policies coverii~ the Property, ins~ .ikr as such .rightt
are applicable re rite coverage el'the Property. Lender may use ~e Lasurance p~'ocee&; eithe, r to repair
or restore the Property cr to pay amounts unpaid under m~e Note or this ..q¢curit)' lnsm. ur~ent, xtchetheI' or
r',ot their due.
6. Occupant-).. Bon'ower shall occupy, establish, a~d use-the Property ~s Borroz'er's
principal residence within 60 days after the execution o,r this Secunt), k~strtmten~ a~td si:ail con~lue to
occupy the Property as Borrower's principal residence to; at least one year after the date o£oecupancy,
unless Lender otherwise ag;'ees tn w~itJag, ~hich consem shall not be unreasonably ~thheld, oi' sale. ss
e.~tenuatiag ct~cutastanc~s exist ,,al, rich are beyond Borro,,,'er's control.
7. l~re~ervarlon, Maintenance and Protection of the Property; Inspection. s. Borrower
shall not destroy, damage or impair the Peeping, allow the Property to deteriorate or cOmmat waste
the Property. Whether or .not Borrower is t~sidlag in rite Property, Borrowe~ shall mailz,.aLu thc
Property, in order to prevent the Property from det~rtora~iag or decreasing in x,alue due to l~s condition
Unless it/s determkaecl pursuant to Section 5 tl~t re. pan' or restoration is not econou)icai!y feasible
Borrower shall p~:omptl~' repair the Property if damaged to avoid fault, er deterioration or dantage, tf
insurance or ;ondenmation proceeds are paid in connection with darns.ge to, or the tak. LtM~ of, the
Property, Borrower sha~ be respons~le for repaLring or re. storing the Prope.rt~- only tf Lender ht~.'
released proceeds t'or such purposes. Lender may disburse proceeds fo.r tt~¢ relvaLrs and restora;~c~l; in a
'single payment or ~n a ser4es of progress p~yments as the ';york is completed, ii' the insur.'-n~ce
eondemna~on proceeds ate not sufficient to repaj~: o~ rester, the Property, Borrower is not reheved of
Borrower's obligation for the completion of such repair or restoration.
Lender or J. ts ug;ut may make reasotnable entries upon and i,aspections of the Properts.'. If it
has reasonable cause, L~nd,~r may i.t~peet the interior of th;- knprovemea.ts on the Property_
shall give Bo~owea' ~'tic~ at the time of or pr~or to such aa interior mspec',6ou .specif,vsag ~'ueh
reasonable cause..
/I. Borrows, er% Lean A,pplicatioa. Borrower shall be i~a default if, flu.ring the Loa,u
~pplication process, Borrower or troy persons or entities stung at the ali.erotica of Borrower or wath
~'YO.M.INC~..qin~le ~:a~o,ily- D'anMe M,,e~l:'t'ad~ie :¥Ia¢ UN"IFOIt.M. INSTRL~tENT
Page 7 of 16
67t
Borrower's knowledge or consem gave materially fals% misleading~ or /naccurate intbrma6.on or
s~atements to Lender (~r ~iled [o provide Le.~d~- wi~t rnatefi~,l Lrfformation) i~l connect/on ~,ith the
Loan. Material represenUstions include, b.ut are not l[mJ. ted/o, representations concernk~g Borrower's
occupancy of the Property as Borrower's pr/.ncipal residence.
9. Protvctio,a of Lender'a lnteresl hi the Properly and Rights Unde~ this ,Security'
h~strument. If(a) Borrower fails to per,btm ~ cox'~mr, ts a~td agreeme, t~ contained in th.is Sccuri~
Instrument, (b) there is a legal proceedm$ *~m might sigmficantly affect L~ndc~'s /r,t~re~l in thc
Property and/or rignt~ m~.de~ this Secur/ty I:~strument (such ~ a procevding in ba. akrupt~y, p.,'t~batc,
eendcmmtion or forfe.r~re, ~r enfordemem of a lien which auav attain phor/W ov,r tkis
Imfl:ument or to enforce la~ or regulations), ot (c) B,~m~wer baz age,loved the Propvtw, then Lender
may do and pay for g ~-4~a~ever ~s reasonablo et approp:-iate to protect Lender's interest in the Prol:,¢rly
and fights tmcl~' this Security Instruraerit, tJlch~dlng prote~ctmg ~d/or a~$essmg the vahsc of
Property,. a~d securing and/or repairing the Property. Le~der's actions can mc_lade, but ~¢ not
tn: (a) paying any sums secured by a lien which )~s priority' over this Security lnstnmxet~; Co)
a.vpeari~g in cou.q; ~d (c) paying reasonable attorneys' fees to protect its Lnterest in t.he Property
and/or rights under this Security lns~a~neat, including its secured position in a bmtkmptcy proce.~xthsg.
Securing ~¢ Property/includes, but is not limited to, entering the Property !o make r~,airs.
locks, replace or boa.rd :ip doors and v~.udo,a% drain weter ti'ora pipes, elimm, ate building or other code
violatkms or d~ngemu.,~ condj, tions, and have u61ities tinned oa or off. )although Leadez may take
action '~mder this Sect/ox~ 9, I..ender does not have to do so Mid lq not under any duty or cbligaOon to da
so. I~ Is agreed that l[..~ade~ incur~ no [i~sbilit-y f~r not taking ~¥ o~ all actions authorized trader thi~
Section 9.
' Any tmounts .disbursed by Lender under this Section 9 shall become additional debt of
Bomy, ver secured by ttfis Security instrument. Ihese atnounts shall bear interest at the Note rote fi.om
the .,!at, of disbur~em~txt ~nd shall be pa.vable, x, drh such Lnter¢,_.t, upon notice from l.cnde~r to Borrower
reqoes~Lug payment.
If this Secm'iwl.~[strument is on a leasehold, Bo:"rowcr shall comply with all the provisions of
the lease, If Borrower a~cquh'es fcc title to the Property, the leasehold and the fee title shall .not merge
unless Lender agrees to ~,e m~ger in writing
I0. Mortgage Inure'artec. If Leader required Mortgage lumrance as a condmon ofmaid_ng
the Loan, Borrower shall pay tl-,e premiums required to maintain the Mortgage Insurance in effect. If,
for any reason, tire Mot;gage !nsma/~ce coverage requ/red by' Leader eea.ge.s m be available tFom &e
mortgage msur~ that previously provkl~d such insu_mace ~ad Borrower wa~ renuJxed to make
sepamtel7 desigv, at'ed paSment~ toward the prem/mvas for Mortgage l. nsurance, Borrox~'cr shah pay the
p.~rai -tam ~equLred to ob:aDa coverage subst,uaV2aliy equjvalen~ to the Mortgage lr~sus~aace previously
effect, at a cost substantially equiYalent to the cost to Bo.~ower of the lvlortgage Insumm~,¢ previously
effec~t, fi'om a~ a!lelalate mortgage h~surer selecte~ by Lender. If substamialjy equivalent Mortgage
Insura.ue, coverage is ~t available, Borrower shall comjnue to pay to Lender '~e mo'trot of the
,q0arat~!y designated pa~,ments ~at were du~ when the ir~twanee co;-er~g¢ ,:eased to be i~. effect.
Leader sill accept, use !a~d;mmha these, payrm.mt~ as a r, on-refimdable loss reserve in lieu of.Mortgage
h~m'ance~ Such loss :'~se. rve shM1 be ~-tm-refimdable not~ithsmding th.e fact 'O~ 'the Loan is
ultilllaiely pa/d in full, and; Leader ehall not b~ rcquir.xl to pay' Borrower ~t~y interest or carton, ps on
such loss resen,e. Lend~ ea~o no longer require loss reserve £uymenta i.fMortgage lnaurance coverage
(m the amount md for t. be period that Lender requires) prcMded by an i~.,ur,..r selected by Le:~xde. r again
b~comes, a~lable, is obtained, ~nd Lc~der r~quiras separately desig~mted payments toward the
WYOMING-Single ~mp~!)'- F~r~i¢ .0,t~e.~r,ddi, ~l~.z UNIFORM INSTItt.'bF~NT
Page g of 16
Imt/,ls: _~~
p%e~ium.s for Mortgage Insurance. If Lender r~-quixed Mott~ase Ir~su.rance a~ a condition of
the ~.,~. ~d Bogower w~ r~ed to ~e ~t~ately desi~.a~ p~ents tow~ Mae pr~n~ms
M~gage !~,~ce. Bor.~ower shall pay ~he p~,u r~qu;refl to ~i.n Mo~ga~e ~ace
~ffect, or to provide a no~,-re~ble Loss re.~er~e, ~til Lead.dee's req~ent ~or Mortgage Insurance
~ds ~ accordance wi~[aay ~fitten a~¢ement be~eea Bo~owe~ m~d L<der providing ~r such
tem~ma~o~ or ~[~1 te~j.o~io~ is requ~ by Apphc~e ~w. No~ ~ t~s Secdon '10
Bo~ower's obligation ~o ~y mt~est at ~e rate pro~d~ ~ ~e Note.
Mo~gage Im~ce reJmb~s L~det (or ~y enow ~at puec]mses ~e No~e) fbt ce~m
los~ it may ~c~ if Bon-ow~ dc~s not ~ay the Lo~ ~ agreed. Bo~owe~ is not a pg~
Mor~age
Moggage ~e~ ev~te the~ to~. ask on all such i~ur~ce ~ force ~m ~ ~o ~me, ~d
may enter ~to a~eemen~ ~ o;h~ pa~ t~t fl~e or mo~i~ ~e~ d~ or re~c~ losses. These
(or p~i~) to ~ese a~eetuents. ~ a~eemenB ~y require he ~on~ge ms,er ~o m~ pa~nen~
us~g ~ny soun:~ of ~fls ~t ~ mortgage ~u~ ~y have av~.ab~e (w~ch t~y ~clude ~nds
obeyed bom Mo~gage l~ce p;
~ a ~sdt of ~se a~e~me~, Lender. ~y pmc~er of ~e Noteo. ~o~ec ~s~r~ any
read'er, my o~er entiW, or ~7 affiliate of ~y ~f ~e forgoing, m~y rece.~. (fi~ctly or
amo~.~ th~ dedve fi'or;~ (o~ ~ght ~ char~te~z~ as) a po~on of Bon.ower's payments for
Mortgage Insuring, ~ eXe~ge for shrug or ~odi~g ~e R~o~ge i.~er's ~s~ or
losses. If such a~ee~ea: pro,des ~at ~. afl, ate of l.~er ~es a sha~ of fl~e ~or's Hsk
exc~e for a sha~ of ~e pre~ paid to tge roamer, ~e ~tgem~t ts ofl~ ~ "captive
Mortgage. Ius~ance, or~ any ot~er tern~ of ~he Loan, Such agr~ment~ ~ not increase
amaunt ~orrower ~l ~.we for Mo~gag~ Ins}wanc~, and t~y wBl ~.ot en~e Borrower to
refund.
(b) ~ y such agreements wffi not a~t the r~hts Borrower has -if any- '~th respect to
the Mortgage Inat~anee under the ttomeowner~ Proration Act of 1998 or any o~her law. These
tights may D~eiude the r~.t to receive ee~a~ diselos~es, to request and oblala c~neeBaEon of
Ihe ~ortgage ~su.ranc,, to hax, elhe ~ortgage ~ts~ance tee:ffinured aulomafic~y, aaa/or fo
r~eive a ref~d of any Mor~age ~a~ance pre.urns that were un~rned nt the ~me of such
11..~s~en~ of l~eeH~neo~ Proeeefl~; Fo~ett~e. All Miscell~eou~ Proce~d~
h~eby ~i~ed to ~d s~ bo paid to Leader,
If ~e P~pe~ ia ~ge~ such bi~cell~eo~ Proc~ a~ be applied to rcstora~on or
rep~ of ~e Pro~, if the ~toration or r~a~ a <onoedcally feasibl~ ~d Le~er'~ $ec~Mty ts not
le:~med, Dm%E such r~a~ ~d restozafion peE~ Lendec ~all Mve ~c fight to hold such
Mi~ell~eo~ Pmc~d$ C~ntil L~ier has had ~ oppo~i~, to ~specl $t~h Pcope~ to e~c
work bas b~n cool.ed to Lender's s~afacfion, pwvideA fl~at such L~spec~on s}nll be un~riakcn
pma~fly. Lend~ may p~y for the ~pa~ ~d r~tara~on M a ~Mgle di~bt~scm~t or m a series of
p~ess payments as thc iwvrk ~ co~le~. U~css ~ s~ee!~em ia ~dc k~ ~i~g or
Law requ~ M~,${ w b.~ paid oa such Miscell~q~o~ Proceed, L~der sMil ~t be rcqu~d to Fey
Borrower any Mgrost'or *~gs on such Miscell~ous Fro~)eeds. If ~c ~toration or repair is not
~:ono~cilly feasible or Lender~s secufiW wo~.d be legman, ~e hl~cell~e~s Pf~c~ed.i stgR be
~,¥YO3fl~qG;Single F~mily-Fan~te
MaegFreddle Mae LrNIF'OILM LNSTBU3~',NT
Page 9 of 16
.3
applied to the ~ sccu.~ed by this Security hstrume~t, wltealer or no~ fl~en due, x~ ~ e~ce~s,
any, paid to Bo~owe~. Such M(~ceU~o~ Proc~ds s~ll be applied in ~e o~der provided t~r
5ecfio~ 2.
~ ~e event n~ a total ~g, d~cfion, or loss ~ val~e of~e Pro~, ~e Miscellaneo~
Proc~ shall be app~i~ to ~ s~s scold by ~ds 5ec~, lns~'at, M~er or not ~en due,
M~ ~e excess, ffmy, p~d to B~ow~,
~ ~e eve~xt of a pa~ tang, d~t~cfion, or loss m value of ~e Prt~D' h~ a,Nch ~e hk
~ket ~1~ of ~e Prop~ ~diately before ~ p~al ~ng, des~ct$o& or loss M value is equal
to or ~t~r &an the amount of ~e s~ sec~ by aris $ecufiW M~<t ~ediately before
p~ial ~g, dest~ti0n, or 1o~ ~ value, ~les; Bonow~ <d Lead~ o~gis* a~ m ~4tiag,
sums ~ured by ~s Sec~ Insa~em ,ha~ ~ r~ by ~e ~lo~t of fll~ Miscellaneous Proceeds
multipliM by ~¢ follo'~g kaction: (a) ~e total amount of ~e ~nm sec~d iwm~ediamly befo{e
~al ~:g, dw~ction, or loss ~ value divid~ by (b) rfc fa~ m~t value of ~e Prope~y
~odia~ly bebre &.: palm ~g, des~efion, or loss M vMue. Miy balance s~ll be ;~:tid
Bo~ow~.
~ ~e e~nt o'f'a paniM. ~g, des~ction, o~ loss in value of~e P~ ta which ~ fak
m~ket value of ~e Prope~ ~amly before fl~e p~M ~g, des~ction, or loss i.¢ value is less
· ~ ~¢ mo~t of ~e ~ s~ed ~ia~ly befo~ ~e p~fiM ~aki,,g~ des~ctiox~; or Io~s ht value,
t~ess Bo~r ~d L~der o~e~sa a~ ~ w~, ~e MiS~H~neoua Proceeds s~.~ be applied to
· c st~ Socked by ~s $~c~ b~s~eu.t whe~r or not ~c s~ ~e '~ flue.
[f ~e P~pe~ ~s abaMoned by Bo~ower, or it~ a~r nonce by ~nder to B~ow~ ~at
Opposing P~ (as &f~n~ ~. ~e next ~n~ence) o~e~ to m~ ~ awed to se~e a ciaJm for d~ges,
Bonower furls ~ r~pond ~ L~der ~i'~ 3~ ~ aRcr ~e date ~ notice is given, ~der
a~atho~zed ~o zoIlect and ap. ply ~e M~ce~eo~ Pr~ee~ e~&er t~ restoration or ~pa~ of &e
Prope~ or to the s~L~ ~c~d by ~s Sev~- ~n~ whc~er or ~ot ~ d~.
Pa~~' me~s ~ thffd~ ~a~ ~ owes Bo~ower ~efl~eous .Proceeds or the p~ agai~t whom
Bo~ow~ has a r~t of;grit n ~ ~egard ~ MigeR~eo~ Proceeds.
~now~t s~ll ~ ~ default if ~y gtion or proceedS, whethei cite or c~3al: is beg~
~at. iff L~.d~'s jud~t, could resul~ ~ forfe~re of ~e Pro~ or o~er ~a~al ~p~.ent
.Le~.d~r s interest m. ~e Pr~efly or rights ~d~r ~s Sec~ty l~st~ent_ Bo.~owe~' can cu~ such
default aM, if acc~letafio~ ~s occ~ed~ re~t~ ~ pm~d~d m Section' 19, by cwas~g the ~tion or
proe~ag to b~ di~(ss~ ~ a ~g tha~ M Lender's jud~, precludes fi~ffei~r¢ of ~e
Pro~ or o~ ~tefid ~a~xent offender's in, est M ~ Ptop~q, or nghm m~de;- ~is Security
Ius~$nt_ Th~ proce~A, of~y a~ard or cla~ ~r t~gos ~t ~ a~bu~ble to fl~ ~aim~ent of
Lezxder's i~r~st ~ ~:e Pmp~ ~ he,by assl~ ~,d shall be paid to ~der.
~1 ~e~ll~ Pro~o~ ~t ~ not applied to r~storafion or ~ of t~ .Prope~ shal~
~ ~li~d 3xx ~e order ~rovi~ for m S~'tion 2.
12, ~ Borrower Not Released; Forbeir~c~ By Lender Not a Wai~er. Extension of
tim~ fo~ ~nt or modification of amortization of ~e ~ aee~ed by t~s Secu~ I~trument
~qt~ by ~n&x m Bo~w~ or ~y Successor ~ ~terest of Bo~ower shall no; overa~ ~ re~e~e
I~abi.~ty of Bonower or any S~gce~ts ~x In~e~s~ of Bc,:xow~. Lender ~B nat be requited to
comm~ce proc~dj.n.g~ ;aga~ ~y S~sor M Intent of Bonowe~ or to ~&se to extend time
p~t or oO~e~se n.~.~)di~ ~o~afion of~e ~uff$ ~c~d by &is SecuriD' I~tx~ient by roa~n
~y de~and m~e by the off,al Bo~ower or ~y Sucoe~sors in ~terest of Botxowor.
fo~ea~ by L~:~[n exetcish~g ~y fi~t or r~edy Mcluding, '~out .~fion. Lender'~
~A~"OlVII1NG-Si.qgI~ FaixfilyJ F~,mxlt Mae/Fvtdd~c M..c UN1FO;8..V~. IBI.~rRI. I1WENT
Page 10 of 16
acceptance of payments fi'om third l~rSons, entities or 5uccessom m In.est of Bo~ow~r or M ~o~m
less ~;~ ~e ~to~t ~n du~, s~H not b~ a ~ver ofm precl~ ~e ex~mis~ of~y d~t or ~medy.
13. ~o~ and ~S;evera Liable; C~si~era; 8ucce)~r ~ ~d A~s~g~ Bo~ad.
coverture and a~ces ~ Bo~wcr's obligatmns ~d ]iabiH~ shah ~ JOlt ~d ~ral. Hm~ver,
Bo~w~ who co-si~ ~ Sc~ ~e~t but do~ not ex,ute ~e Noto (a "~si~'): (a) is
~-,i~g ~ Sec~W Imm~cat o~7 to mortgage, ~t aM coavey ~e eo-si~er's interest m
Pr~y ~der ~e m~(~ of ~s Secm~ ~ent; ~) m not pemondly obligated to pay ~ su~
~c~ed by ~ S~; ~nt; ~.d (c) a~ ~at ~nder ~d ~y o~er Bo~ow~r cm~ a~ee
ex,d, ~, fo~car or m~ ~y acco~tio~ ~ rcg~d to ~c te~s of ~ Secuh~
Subject m ~ ~,mvisions of S~tion 18, ~y Successor kn Interest of Bo~wer who
Bc~.~'s obligatio~ nnd~ ~ Sec~ [~ent ~1 ~g, ~d is approved by Loner, ~ll
~m~ sU of Bo~ow~'~ ~i~t, and bcacfi.a ~dcr ~ S~uh~ ~s~ent. Bo~w~ sMll not bc
released flora Bo~ower's obliiatto~ ~d liability ~d~ ~s Secud~- lmm~t ~eas ~,der a~ees
to such r*l~se ~ a~t~g. ~e coypu ~d a~mcuB of ~s Sec~i~ l~ent sMll brad
as provi~d m Scion 20) ~d b~efit ~ succorers ~d ~i~ offer.
14. Lo~n Chsr~. ~nder ~y char~ Boxower fees for semites ~ffom.ed m. cmmection
~ Bo~w,r's defa~ ~r ~c p~o~ of protecting L,nd~r'~ ~r~st ~ ~e Property gad n this ~der
~, S~ ~s~t, racing, but net lmtd to, aaome~' .re,s, prop~ ~apecfion and vahadon
f~s. ~ reg~d to ~y oO~er f~e~ ~e absence of exp~ss au~od~ ~ ~is Sec~v ~s~em m cMrgc
a ~,cific re, m Boomer s~l not ~ cons~ed as a pro~biliou on ~e ch~gmg of such fee. Lender
~ no~ ch~g, ~ca ~at ~ mpr~ly pm~bited by '~s Scc~. Lns~ment or by ~p~cable Law,
If ~c Lo~n is aubj~t to a law whch seu m~ 1o~ c~ges, ~d ~r law ls fmMly
info,feted so ~t ac ~tcr~st or o~ Io~ c~ies collecled or ~ be coil,trod m co~¢on ~i~h the
~ exceed ~e pem~,d 1~, ~: (a) ~y luch loan charge ~1 bc r, duc~d by 0~e amount
n~ess~, to r~e ~e~ e~te to ~e pem~ 1~; ~d (b) ~y sum a.k~dy collec~d
Bo~owet w~ch extruded p,~tmd I:~n ~1 be ref~&d to Bo~r. Lender may c~0ose It
t~s ref~d b7 reducing ~e priacipal owed ~der ~, No~ or by m~g u d~ct paF~e~t to Bon~wer.
If a ~d reduces pmcipd, ~e r~ucaon ~511 ~ ri,amd as a p~al pr~a~t ~thout any
p~a~ent c~te (whether or. att a pr~al~ent ch~ is provid~ for ~dcr ~e Note)_ Bon'ow~r's
acceptance of~y such r~d made by ~rect p~t to Bono~r ~Ii coraffmtz a a-giver of any n~t
of ~ti'o~ Bo~xowcr ~t. have ~is~g out of such
15. No~ce~. ~ noti~s ~ by Bo~ower cr M~ger ki eo~tion ~d~ ~.is
~8t~cnt mint ~ ~ wn-a~. ~y notice to ~ower m coanecficn M~ ~ Securi~ lmt~eut
shall be deemed t~ Mvc~ b,cn. gi~n to Bo~ower whm mad~ by ~t cl~s ~ii m when acmaly
dcflvemd to Boaow~'$'nohcc addx~ss ff scat by o~ meres. NoOce to ~y one Bo~ower shall
Co~fimte notice to aH go,owen ~ess Applicable Law expressly requkes o~emf~e_ The uotice
ad~s ~11 bc ~e Pm~ Address ~ess ~nowet M~ d~igmted a subsfimrc notice ad~ess by
notice W Lender. Bottler s~l promptly noii~ L~d~ of Bo~ower's c~ge of td,Rcss. If Made~
specific~ a proccd~e for~ [~ B~ow~'s ch~ of address. ~m Bo~owcr a~ o~y repoa
chute of ad&ess ~ou~ ~t ~ified pr~edme. ~re may be o~y one desisted notic,
un~r ~s 8e~ lm~,nt at ~y o~ ~ne. ~y notice to I.~der shall bc ~vcn by dzlive~ng it or
by i~i'~g it by fret c~q ~il to ~ndcr's a~ss stated h~eh u~ess [cnd~ h~ d~at~
address by notice to BoRower. ~y notice m co~hon wi~ u~s Sec~ Inspect sh~l not be
d~ed m Mve b~n Wen to ~der ~.lfl act~lly received by Lender. lf~y notice requ~'ed by
xl~OMING-Single Fatally- Faaai, Mae/Freddie Mac IJNIFOR31 IN~TRU_~ENT
PaS~ 11 of 16
Form(~051. 1/Ol
675
Seeuri~ Luetsxm~ent is a),so required under Applicable Law, ~e Applicable ~w requ~emem ,,~dll satisP/
~e co~e~pon~g requirement ~der ~s Sec~ I~enc
16, c~,ver~g Law; ~verab~; R~es of Cm~tructton. T~s S~ ~s~nt s~ll
~ gove~ by federal:law ~d ~e law of~e j~sdicfion in ~'bich ~e Prope~ is lov~tcd, ~ fights
~d obligations conm~.~M ~ ~ Sec~ I~.ent ~e subject to ~y tequ~emen~ and l~i~hom of
Applic~l$ Law~ Appli~olo Law ~t e~lieifly or i~eitly ~low ~e panics to a~t:e by conuact or
il nB~I bo $i1~ but such silence shell not be c~s~ed as a proMbition agaM$t ~xent by co.n~act
In ~e oven~ ~t ~y .provision or clame of ~,
.&pplicable Law. such conflict shall not affect o&e~ provtsion$ of tMa gee~ l~ev.t or ~e Note
whch c~ be given rife.et ~out ~e eo~ct~ pro,sion.
~ used ~ ~is Se~'B, lasmeat: (a) words of fl~e masc~m gender sh~ me< and include
co~espondMg neuter ~r~ or wor~ of ~e f~mme gender; (b') ~rds m &e sin~l~ shall mean ~d
Mclude ~e plmfl ~:d vice v~sa; ~d (c) the wo~ '~]' gila ~ole dj<fetich ~5~ou[ any obligation
to ~ke ap2 action.
17. Borrower'~ Cop~, Bo~w~ ~ be g,ven cae copy of ~e Note ~d of ~ Secm~
i8. Tr~nafer :al the ~oper~ or a Beneficial ~ere,t in Borrower. ~ m~ in ~ Section
18, "Interest m fl~e Prope~' meres ~y legal or beneficial interest m ~e Prope~, k~l~, but not
lmfited m, ~ose bmeficl,.l Mterests u~sl~ed m a ~nd for deed, co'n~act ~r deed, imam.meat ~!es
contract or egro'~ a~eement, ~e Mtent of which i~ ~e Uansfer of ritle by Bogo~r at a ~e ~te to
a ~rcha~r.
If all or ~y p.~ of ~e Prope~y or ~y ~te~'e~t m flee Prope~ ia ,old or ~a~fm~ed (or if
~wer is not a ~'~1 person md a ~efici~l hterest in ~m~wer is mid or =~fe~d) <~out
L. en.d~'s ~or w~aen consent, Lmde~ ~y require in'~e~am ~t N f~ 0f all ~m* s~ured by
~is Sec~W h~xeat. Howler, ~.s option s~ll not. be exercised by Lender j.f such exercise
proh%ited by Applicabl~= ~w.
If Lender exercise, ~is option, Lc,der sh~! give Borrower nofioe of aceele.ratio~. The ~otice
*hall pm~e a p~od of not le,s ~ 30 days from
~ -
Sect/on 15 ~4~n wMcL Bo~ower must pay aB. su~ s~cm'ed by ~s. ecm~ Im~. If Bonower
big ~ pay ~e~ sums prior to flue expkafion of ~.is period, ~nder amy Woke my remedies pem~
by ~s Scc~ ImamS. gat m~ fi~er not/ce or
19. Bo~m'er~ ~t to Re,,tale After Acceleration. If Bo~r mee~ cerm~
conditiom, Bonowez $~dl Mve ~e N~t to ~ve egotcement of
at any ~e prior to ~e e~est ~f: (a) five ~ys before sale of fl~e Prope,W pm~u~t to any power of
amc cen~med m ~s Secan~ Im~t; ~) such o~et peNod ~ A~tic~ble ~w ~ght ~c~$' for
~e te~ation of Bon'ower's right to remsm~; or (c)
'lm~ment T ho~ coedifion, ~ that Bo~ower: (a) pays Lender ~1 sm which ~ would be due
~der ~$ Se.:;mW I~ame.nt and ~e Note ~s ffno aeceleratk,a Md occt~d; (.b) c~e~ ~y default of
~y o~ eov.mmn~ or t~eme~; (c) pa~ all e~e~/no,ed m caroming ~s Sec~ry lnsm~en~
i,:ludMg, but e~ limited, to, reasonable aRomeys' f~, prope~ ~flon ~d va!~tion fee,, and
o~er t~ Mctuxed for t~ p~se of protecting Leedet'~
S<~ ~mmt; ~ (d) ~es ,ueh ~tion a$ L~der may ~m~bly reqt&, to ~s,ute ~at Leader's
h~te~st ~ ~e Prope~ =md fiO~ m~d~ &is S~D:
~ $ec~ed by ~a Slo<q. I~mm~ s~ll eommue uncMnged. Lmder
Borrower pay ~eh m~lemeht ,m ~d expe~es m one or mote of ~ ~ll~mg fora, ~s selected
~"YONIING-Sing!e Family.i Fannie Ma~:/Frr. ddie ['Vla~ UNIFOBAH INSTRUMZ.~I'I'
Page 12 of 16
675
by Lertder: (a) ca, h; O) money order; (¢) certi~ed ch,ck, b~zk cherlq u'easurer's ch*~k or c~shier's
check, provided my s~:h ch~ek is ~a~ upon an h~ition ~hose ~po,its ~r, L~ed by a feder, l
agency~ Jnst~n~mh~ or ~ti~'; or (d) El~o~c F~d~ Tt~t~r. l.¥on ~t~nt by Bo~ower,
ins S~i~ Ins~men{ ~nd ob~gati~s s~uted h~eby shall rema~ Dlly effec~ve ~ if no acce.leratkm
h~ ~cu~ed, Ho~ver,~ ~i~ H~t m reh~smte $hall not ~pply m the case of accelrration ~.der Section
20. Sal~ of N'o[~; Chl~e of Loail Senicer; Nofite of Grlevanc¢. The Not¢ or a p~ial
~toro~ M ~c No[e (toge~er wi~ fl)ls Sec~W In~me~/) carl b~ ~old one or more t~s wi~cut prior
notice to Bogower. A ~e ~lt recur ~ a c~g~ i.n ~.e en~p/~o~ aa ~e "1~ Semic~/' ) ~at
coUecu Pefiodm Pa~eau due ~der ~c Note. ~d ~i.s Sec~ I~mnt md p~rfo~s o~er
mo~gage loan se~icmg obliga~o~ ~der ~e Nora, ~s Sec~ ~x~h and Applicable Law.
~er~ a~ ~t be one or mom c~ge$ of ~e Lorn Semcer re. luted to a ~ale of fl~e Note. If
is a ch~ge of~e Lo~.Se~cer, Bogower ~1 be giv~ wfi~m notice of~e chm~ge 'wMch roll
· e nme ~nd ad&es$ ol the new ~: S~ce~, ~e ad&~s to which pa>menu *ho~d be trade e~d any
o~er mfomauon RESPA ~quk~ m co~ection ~ a nottce of emsf~ or semicNg. If the Note
·old :md ~erea~ the Loem is se~iced by a Loan Semicer o~er than ~.e p~c~ser of ~e Note, the
mortgage 1o~ s~gmg cbhgafiom to Bogow~ ~11 ~ata~ wi~ ~e Lo~. SenSor or be ~sf~
a *ucce~or Loan~ Se~icer and are not ~$$m~ by ~ Note pmc~er ~e~ o~i~ provided by
No~ p~cMser.
Nei~r Bo~wer nor Lender may co~lce, jo~ or be jo~ed m ~y juflici~ action
eider ~ mdivi~l lifig~lt or ~ mere.bet of ~ cl~) ~t m~es ~m ~e o~ p~",s ~tio.u~
~o this Secu~ Lqs~mt or ~at nlleg~ ~t ~e o~et p~ has br~ch~ ~ly pro~/,ion o[ or mty
duW owed by ~a$on o~ '~a S<m~ hm~eut, ~fil such Bo~ower or ~nd~ h~, hooded ~e o~er
p~ (ui~ such notice Wen m comphance ~ ~e requir~enU of S~tion 15) of sucl~ alleged
bre~ch ~d afforfl~ ~.e. o~er p~ h~o a r~onable period a~ ~e ~ of such notice to ~e
cogecm~e actio~ If Applicable Law provid,s a Omc pet/~ whch m~I elapse ~fo~ cemm action
em,. be ~k~ that ~e ~hod a~l be d~med to be redouble for p~oseu cf ~, p~agmpN The
notice of acceleration ~.fi oppo~ {o cme ~v~ to Bo~ower p~s~nt m S~fion ~ and the notice
of acceleration given to Bogowet pmuant m Seetio~ 18 sha~ be fleem~ to safls~ ~e notice ~d
oppo~N¢' to ~e co.retire action provisions of ~ S~on 20.
~1. Hazardous S~taaces, ~ used ~ ~h Section 21: (a) "H~dom Subs~es" a~
· ose substances deLned as to~c or ~dou$ $ubsm~a, pollutant, or wasps by Envkoxmxe~xml Law
and ~¢ tbHo~lg $ubs~es: g~so~le, kerosene, o~ flammable or toxic peeole~ produc~, toxic
~ticides ~d h~bicides, volatile soNenm, mt~ con~m~g a$b~m$ or fomldehyde,
ta~oacflv~ m~fial,; ¢b) 'En~om=uul L~w~' mea~ federal law ~d 1~ of ~e j~dicfic, n ~ere
~.e Propo~' is l~ated ~t relate to .healflh sa~ or en~romen~l pint.don; (c)
Cleanup" ~cludes a~7 re.omc action., rmn~i~ ~ction, or removal action,'~ defm~ M
Law; and (d) ~ "Endromenml Congition' m~ a condi~on ~at c~ c~e, con~ibu~ to, or
o~e~se Mgger ~ Enviroment~ Cle~ap.
Bo~Yower s~ll:not ca~ or pm~t ~e pre<ce. ~, di~o~l, ~torage, or release of' any
Hazardo~ Substances, or ~men to release ~y H~gdo~ Subsmces, on or k, fl~e Propo~,'
Bo~wer shall not do, ~r allow anyone ~1~ ~o do. m~.mg affecting ~e Pro~ (a) tl~at i$ N
Gotation of <y Env~nen~l ~w, (b) wlfich creates ma Envkomenml Con~tion. or (c) which, due
to ~e presence, use, or release of a H~dom Suba~ce, creat~ a co.trion ~t adv~sely affects ~e
x~ue of the Prop~, ~ precefiip~ m'o sen~nces ~di not apply to ~e presence, u~, or storage on
~OMING-Sirlgl¢ F~ly- Fao~, 5'la~red~e ~e ~O~I [N~FRUNIENT
13 oil6 ~°rT~0" ~1
, 67"
· e Property of sma'/,1 quantifies of I-lazardom gub~taoces char are ge,~erally recognized [o be
ap~opr~a~e m ~o~ maid.till mrs md to a:mate~a~ce of ~e Pmpe~ (includi~, bat not limited
handora subst~ces ia *ommer pro.cB).
Borrower shall pmmp~y gi~ ~nder x~m~a notice o~ (a) ~7 ~vestigafioe, cia., de.nd,
laa~uit or oth~ action by ~y gove~mental o~ .r~;lam~ agency or phvate pa~' ~volv~g
Pro~ and any H~a~ot~ Subs~ce or E.uv~o~en~ ~w of whic~ Bo.~o.~'er ~s ae~al
~owledge, (b) ~y En~o~nt~ Condition, m,:i~g hut not l~ted m~ ~ay spilling, le~g~
dJsct~ge, release or fl~cat of ~cleage of ~y Ha,~rdous $u-bs~ance, and (c) any condit~ caned by
present, ~ or release of s Hazardous Subs~nce w~ch adve. rsely a~c~ che ~lue of fi~e Prc, p~,. [f
Bo~ower leam~, or is notified b~ ~y govemvaen~l or regulator- au$o~, oi; ~y private p~,
any ~moval or oaer ~mediafion of ~.y H~'do~ Subs~':~ce a~c!i~g ~e Property is
Bo~wer sMR p~ompfly take a~ ne~ss~ r~id acno~ m accor~nce ~th EnvJso~enal l~w.
No~mg ~re~ s~l c~e~te ~y obhgafioa on L~der for ~ Em6.ro~en~a Cle~up.
NON-~ORM COVEN--S, Bo~ower ~d Lender f~ler covenant and a~ee
follows:
~2. Acceleration; Remedies. Lender shaft We not/ce to Borrow'er prior to
l~ow~ Borro~e?'s breach of any eovenan~ or a~'~meut ia l~ $g~i9' ~s~ument (but ~.o~
prior ~o acceleration ~r~der ~cfi~n 1S ~flegt App~c~ble Law pro~d~ o~h~is~). The notice
shaR specify: (a) the de~t; (b) the action r~l.~efl lo cure the dela~t; (c) a date, not i~
30 days ~om th~ flat~ ae notice is Wen to Borrower, by w~eh the default must be cured; and
(d) fl~at fs~ure to cure ~e default on or belore Chi dai~ sp~c~ ~ ~he notice may r~g~t
aeee!eraflo~ of the s~ see~ed by ihi~ g~u~ ~str~nem and s~ie of the ProperS. The notice
,hall further infom ~rrower of ~he ri~.l ~o re~sta~ ~fler'aee~l~r:fion and the right ~,~ bring a
co~t action to ~sser~ ~e non-e~ience of ~ fleraai or any o~hor defense ol Borrt~wer
s~elerafion and .sale. If the defa~t ~ not eur~a on or belore the date spee~3~ in ~he notice,
L~nder st lt~ option m~y require ~edlate paymen~ ~ lan or' an ~.~ secured by t~
~trumeat ~thout further demnnfl nod may invoke the p~er of sate and any other
per~tted by AppGeable Law. Lender s~O he ratified to c~H~t aH expe'a~e~ ~ncarred
pursing the re~e~.:~ provided i~ t~s Section ll~ inelu~ug, bm not ll~ted I'o, reasonable
att~,rney~' fees and eo~ts of tit~ e~denee.
If Lender .h~vok~ ~e power ~f s~e, L~nder sh~ We notice of ~tent Io foreclose
Borrower and to the ~r ~n ~ po, session of the Prop~w, if d~Terent, in accordance
Applicable Law. Lendzr gh~ give notice oI the ,~lc to Borrower In the ma~er provided
S~fi~n I5, Lender sha~ pubH~ the notice of lair, and the Proper~ shaU be ~old in the manner
pre, ct{bed by Applicable Lzw. I,~dee or ~{~ de~lgn~ may p~eha~e the Prop~ at any ,ale.
The proc~ds of the ~e ,hah be appUed In t~e foHo~g order: (a) to ~! expense~ of ~e
~clu~g, but not Hmit~ to, reazouable atlo~ey~' ftys; (b) to aH sums s~ed by this Security
Ins{r~ent~ and {c) ~ay exces~ ~o the person or per~o lcg~ly entitled to it.
23, Release, Upon p~?~ent of a~ s~s s~-~-d by t~ Soc~ Ins~ent, [.ender
relew~e fl~ Sec~ I~me~ Bo~ower ~ pay ~;y r~o~afion cez~s Lender may c~ge
Bo~ower a tee for re!cas~g ~ Secu~ Insumen~ but o~y if ~e &e is paid ro a t~d p~
· ~ice, ~dered md fl~e c~ng of~e fee is ~ned under Applicable ~w.
24. Waivers. Bonower friezes ~d waiv~ a~ fi~ under ~,d by ~rme of fl~e hcmes~ad
· xempti~ laws of Wyoming.
%'YO[vILN'C-$ingle Funnily- l~a-ai¢ ~la~T~acldi~ Mac trNIFOR.~,l' LN'$TRUbI[ENT
P~ge 14 of 16
BY SIGNING BELOW, Borrower accepts and agrees to ttie tz. mxs and cove~mnts cot',rained J.tt
~is Securit-y h~tmment a~d in any Rider exe=uted by Bogo~ver and recorded wit& it.
Witaesses:
-Berr~.,wcr
(SeuP,
-Borrower
-Bon'ower
l~ge 15 of 16
Form 30~.1. 1/01
67 9
STATE OF ~BFO).M~ G, LINCOLN
The tbregomg [nsa-uraem was ac~o~vl~g~d helot, m~ t~s 2 5 Lh
Da~d Hoffman
day of may_t.~.~2004
by
Pag~ [6 of t6
The middle one-third of Lois 1, 2 and 3 of Block 6 of tl~e Original Town of Kemmerer,
Lincoln County, Wyoming being more particularly described as follows:
Commencing at the southwest corner of said lot 1 being where Cedar Avenue intersects
Emerald Street. at the corner of said Ioi, and running thence easterly along the dividing
line between said lot 1 and Emerald Street 46 2/3 feet to the point of beginning; thence
in an easterly direction along the dividing line 46 2/3 feet; thence at right angles in a
nodherly direction 140 feet. thence at right angles ~n a westerly direction 46 2/3 feet;
tl'~ence at right angles in a southerly direction 140 feet to the place of beginning