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899728
After recording please return to: LoanCity. con [Company Name] ~ame of Natural Pe~on] 5671 Santa Teresa Boulevard, Suite 100 [Stre et Address] San Jose, CA 95123 [City, State Zip Code] 899728 RECEIVED LINCOLN OOUNTY CLERK [Space Above This Line For Recording Data] DEFINITIONS MORTGAGE MIN 100058310000181448 Words used in multiple sections of this documenl are defined below and other words are defined in Sections 3, l 1, 13, 18, 20 and 21. Certain niles regarding fire usage of words used iu tiffs document are also provided in Section 16. (A) "Security Instrnment" means this document, which is dated together with all Riders to tlfis docrment. (B) "Borrower" is JOSEPH M. LARRAZOLO AND BARBARA A. ~May 27, 2004 LARRAZOLO husband and wife . Borrower is tile mortCgorat~er ~s Securib Instmn~ent. (C) "MERS" is Mortgage Electro~fic· Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgngee under this Security Instrument. MERS is organized and existing under tile laws of Delaware, mM has an address and telephone nmnber of P.O. Box 2026, Flint, Mi 48501-2026, tel. (888) 679-MERS. (D) "Lender" is LoanCity.com, a California Corporation Lenderisa ':corporation California . Lender'saddressis Boulevard, Suite 100, San Jose, CA 95123 Loan No: W01759297 Wyo,ning Mortgage-Single Fa n y-Fa mie Mae/Freddie Mac UNIFORM INSTRUMENT --TILE COMPLIANCE SOURCE, INC.-- Page 1 of 14 organized and existing nnder the laws of 5671 Santa Teresa {32000, The Compliance Source, Inc. (E) "Note" metals tim promissory note signed by Borrower and dated May 27, 2004 The Note states that Borrower owes Lender one hundred thirty six -thousand and NO/100ths Dollars (U.S. $ 136,000.00 ) phis interest. Borrower has promised to pa)' this debt in regul~ Periodic Paymenls and to pay the debt in full not later Ihan June l, 2034 (F) "Property" means tile property that is described below under file heading "Trm~sfer of Rights in the Properly." (G) "Loan" means the debt tMdenced by the Note, plus interesl, ,'my prepayment charges and late charges due tinder the Note, and all sums due under this Security Insmmlent, plus interest. (H) "Riders" means all Ridars to this Security Inslmlnent that are executed by Borrower. The following Riders are to be executed by Borrower [choct~ box os opplicoblo]: [] Adjustable Rate Rider [] Condomimum Rider [] Second Home Rider [] Balloon Rider [] Planned Unit Development Rider [] Biweekly Payment Rider [] 1-4 Family Rider [] Revocable Trust Rider [] Other(s) [spocirg] (I) "Aplflicable Law" means all controlling applicable federal, state mid local statutes, regulations, ordin,'mces mid adnfinistrative rnles and orders (that have tlie effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" lneans all dues, fees, assessments and oilier charges that are imposed on Bon'ower or file Property by a condominitm~ association, holneowners association or similar orgmlization. (K) "Electronic Ftmds Transfer" me,'ms rely transfer of funds, other fllml a transaction originated by check, draft, or similar paper insU'nment, which is initiated through mi electronic terminal, telephonic instrument, computer, 6r magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit ,'tn account. Sncb term includes, but is not limited to, poiut-of-sale lr,'msfers, automated teller machine transactions, mmsfers initiated by telephone, wire trmlsfers, and automated cle~mnghouse transfers. (L) "Escrow Items" meals those items flint are described iii Section 3. (M) "Miscelhmeous Proceeds" ~neans any compensation, settlement, award of damages, or proceeds paid by any third party (other than msurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condenmation or other taking of all or any part Of tile Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, lhe value and/or condition of the Property: (N) "Mortgage Insurauce" mem~s insurance protecting Lender against the nonpayment of, or default on, file Loan. (O) "Periodic Payment" means rile regularly scheduled amount due for (i) priucipal ,'md interest trader fire Note, phis (ii) any amounts under Section 3 of this Security Instrument. Loan No: W01759297 Wyonflng Mortgage-Single Family-Famfie Mae/Freddie Mac UNIFORM INSTRUMENT THE COMPLIANCE SOURCE, INC.-- Page 2 of 14 ERS~ Fol'lll 3051 01/01 1421OlWY 02000, 'lhe Comphance Source, Ine (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. {}2601 el seq.) m~d its inlplelnenting regmlatiou, Regulation X (24 C.FiR. P,-m 3500), as they reign be amended froln tilne to time, or additioual or successor legislation or regulalion lhat governs the same subject matter. As used ill this Security Instroment, "RESPA" refers to all requirelnents trod restrictions lhal are imposed in regard to a "federally related mortgage loan" even if the Lom~ does not qualify as n "federally related mortgage lmm" uuder RESPA. (Q) "Successor in luterest of Borrower" means auy part), that has taken title to the Property, whether or not that party has assumed Borrower's obligations uuder the Note and/or this Security Instnm~enL TRANSFER OF IHGHTS IN THE PROPERTY This Security h~strmnenl secures to Lender: ti) the repayment of the Loan, and all renewals, extensions and modificalions of the Note; and ((0 the performance of Borrower's coveum~ts and agreements mtder this Security Instrument and Ihe Note. For thii purpose, Borrower does hereby mortgage; gq'trot and couvey to MERS (solely as uominee for Lender and Lender's successors mid assigns) and to the successors and assigns of MERS, with power of sale, fl~e following described property located in file County of LINCOLN [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] LEGAL DESCRIPTION A%TASHED HERETO AND MADE A PART HEREOF. which currently has the address of 188 EAST 9TH AVE2,1LIE [Street] AFTON , Wyoming 83110 ("Property Address"): [CityI [-Zip Code] TOGETHER WITH all the improvemeuts now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instnnnent. All of the foregoing is referred to in tiffs Security Instrument as the "Property." Borrower m~derstands mid agree~ that MERS holds only legal tille to the interests granted by Borrower in this Security Instnmmut, but, if necesmry to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigus) has tlie right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take ,'my action required of Leuder including, but not linfited to, releasing and canceling this Security Inslmment. BORROWER COVENANTS that Borrower is lm~ully seised of the estate hereby conveyed and has Ihe riglit to mortgage, grm~t and conw:y the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property agaiust all claims and demmlds, subject lo alt), encumbrances of record. Loan No: W01759297 Wyonth~g Mortgage-Single Fanfily-Fanni: Mae/Freddie Mac UNIFOILM INSTR1JMENT --'l'nE COh,H'LL~U'{CE SOURCE, INC.-- Page 3 of 14 /./~VlER~Modilied, Fern! 30S1 01/01 14301WY 08100 {32000, The Complim~cc Source, Inc. THIS SECURITY INSTRUMENT combines tmifonn covenants for national use and non-uniform coven,mits with limited variation(by jurisdiction to constitute a mfiform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant mid agree as folloWs: 1. Payment of Prin'.cipal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, ,mid iuterest on, file debt evidenced by the Note and any prepayment charges and late charges dne undler the Note. Borrower shall also pa3, fi~nds for Escrow Items pursuant to Section 3. Payments due under file Note and this Securily Instrulnent shall be made iii U.S. cnrrency. However, if any check or other instrument received by Lei~der as payment under the Note or this Security Instnunent is returned to Lender unpaid, Lender may require that lan3, or all subseqnent payments due under the Note and this Security Instrument be made iii one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank c!mck, treasurer's check oil cashier's check, provided rely such check is drawn upon ~m restitution whose deposits are insured by a federal agency, instntmentality, or entity; or (d) Electronic Ftmds Transfer. Payments are deelned r;iceived by Leuder when received at the location designated in the Note or at such other location as may be designated by Lender iii accordance with the notice provisions in Section 15. Lender may return rely payment or partial paylnent if fl~e payment or p,'utial paylnents are insufficient to bring the Loan current. Lender may accept any payment or partial payment instdYicient to bring the Loan current, withont waiver of any rights herennder or prejudice lo its rights to refi~se such payment or partial payments in the furore, but Lender is not obligated to apply such payment~ at the time such payments are accepled. If each Periodic Payment is applied as of its schednled dne date, then Lender need not pay interest on unapplied rinds. Lender may hold such nnapplied fimds until Borrower makes payment to bring file Loau current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such fimds or return lhem lo Borrower. If not applied earlier, .such fi~nds will be applied to the outstanding principal bal,'mce under file Note immediately prior Io foreclosure. No offset or claim wlfich Borrower might have. now or iii file future against Lender shall relieve Borrower from making payments due onder the Note and tiffs Sgcurity Instrnment or perfOrating the covenants mid agreements secured by this Secnrity Instnnnent. i' 2. Al~plication of PaSmmnts or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender ~hall be applied in the following order of priority:' (a) interest due under the Note; (b) principal dne under the Note;! (c) amounts dne under Section 3. Such payments: shall be applied to each Periodic Pa) merit m the order m xtluch it:became, dile. Any remai~fing amounts shall be applied first to late charges, second to m~y other amounts due under t~,iis Security h~stnunent, and then to reduce the princiPal balance of the Note. If Lender receives a pay, ment from Borrower for a delinquent Periodic Payment which inclndes a sufficient amount to pay any late charge d?e, fl~e payment may be applied to the delinquent payment and fl~e late charge. If more Ihan one Periodic Paymelst is outstanding, Lender may apply any'paylnent received from Borrower to fl~e repayment of the Periodic Payments if, and to the extent flkat, each payment cml be paid in fifll. To the extent flint any excess exists after the payi~ent is applied to the fidl payment of one or more: Periodic Payments, such excess may be applied to any late charges due Vohmtary prepayntents shall be applied first to any prepayinent charges and then as described in the Note. Any aPplication of pay)nents, insnrance proceeds, or Miscellaneous Proceeds to principal dne raider the Note shall not extend or postpom/file due date, or change the amount, of the Periodic Payments. 3. Funds for Escrowiltems. BOrrower shall pa), to Lender on tim day Periodic Payments are due tinder the Note, until the Note is paid i~i fifil, a snm (the "Funds") to provide for payment of amounts due for: (a) taxes ,'md assessments and oiher items whi,;h can attain priority over this Security Instrument as a lieu or encmnbr,'mce on fl~e property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance reqnired by Lender trader Section 5; and (d) Mmlgage Insurance prenfiums, if ,'my, or any sums payable by Bon'ower to Lender in lien of the paYment of Mortgage Insurance premiums in accordance with fl~e provisions of Section 10. These items are ca!led "Escrow Items." At origination or at m~y lime during the term of the Loan, Lender may require that Conunti~nity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, Loan No: W01759297 %'VyOlllillg Mol~gage-Single Falnily-Famfie Mae/Freddie Mac UNIFORM INSTRUMENT /~'lEi/~ed Form 3051 01/01 --THE COMI?LIANCE SOURCE, INC.-- , Page 4 of 14y v 143OlWY o8/oo OgO ,-md such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under fltis Section. Borrower shall pay Lender the Funds for Escrow Items mdess Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Ftmds for ,any or all Escrow Items at any time. An), such waiver may only be ill writing In the event of such waiver, BorrOwer shall pay directly, when and where payable, the amouuts 'due for auy Escrow Items for which payment of Fur'ds has been waived by Lender and, if Lender requires, shrill fi~mish to Lender receipts evidencing such paymen': wiflfin such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deelned to be a covenant and agreement contained in tiffs Security Instrument, as fl~e p!trase "covenant and agremnent" 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 ltmn, Lender may exercise its rights trader Section 9 and pay such amounl and Borrm(,er shall titan be obligated nnder Section 9 to repay to Lender any mcr amount. Lender may revoke the wawer as ~o ally or all Escrow Items at any time by a notice given in accordvnce with Section 15 and, upon such revocation, Borrower shall pay to Lender all Fnnds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to peri]fit Lender to apply the Funds at tile time specified unde~ RESPA, and (b) not to exceed the maximum amount a leuder can require trader RESPA Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of l%ture Escrow Items or oflmnvise in accordance wifl~ Applicable Law The Fnnds shall be held m an institution whose deposits are insured by a federal agency, msmmmntality, or entity (including Lender, if Lend:r is ,'m institution whose deposits are so insured) or in any Federal Home Loan Bank Leuder shall apply the Fro' ds to pay the Escrow Items ilo later tilan file time specified under RESPA. Lender shall not charge Borrower for holding mid applying Ihe Fnnds, annually analyzing the escrow accouut, or verifying file Escrow Items, unless Leuder pays Borrower interest oil the Funds and Applicable Law permits Lender to make such a charge. Unless an agreemimt is made ill writing or Applicable Law requires interest to be paid on the Funds, Lender shrill not be required to pay Borrower any interest or eanfings on rile Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on file Fluids. Lender shall give to Borrower, without charge, an annual acconnting of the Funds as required by RESPA. If there is a surplus of Fands held in escrow, as defined under RESPA, Lender shall account to Borrower for fl~e excess fimds in accordance with RESPA. If fllere is a shortage of Funds held in escrow, as defined nnder RESPA, Leuder shall notify BoTrower as required by RESPA, and Borrower shall pa), to Lender the amount necessary to make up the shortage: itl accordance wifll RESPA, but in no more than 12 mouflfly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, aud Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but iu no more than 12 monthly payments. Upon payment ill filll O.f all stuns secured by this Security Insu'mnent, Lender shall promptly retired to Borrower. any Funds held by Lender. 4. Charges; Lieus. Borrower shall pay all taxes, assessments, charges, tiues, ,and impositions attributable to file Property which can attain priority over this Security Instrument, leasehold payments or ground rents on fl~e Property, if any, and Comnnufity Association Dues, Fees, and Assesslnents, if any. To the extent fl~ese items ,are Escrow Items, Borrower shall pay them iu fl~e rammer provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a rammer acceptable to Lender, but only so long as Borrower is perforating such agreement; (b) contests file lien in good faith by, or defends against enforcement of llle lien in, legal proceedings which in Lender's opinion operate to prevent file e~fforcelnent of the lien while those proceedings ,are pending, but only tmtil such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over tiffs Security Instrument, Lender may give Borrower a notice identifying the lien. Wig]in 10 days of the date on which Loan No: W01759297 Wyoming Mortgage-Single Family-Famfie Mae/Freddie M-',c UNIFORM INSTRUMENT --TILE COM]?LIANCE SOURCE, INC.-- Page 5 of 14 ........ pit ............ 9m ' IIIIlllll[lllllllllll[llllll[ll[ll[llllllllllllllllll/llllllllllll 'Iotlil~lcd Form 3051 01/01 14301%vY o8/00 ~2o0o, The Compliance Source. Inc. that notice is g~ven, Borrower shall satisfy the lien or take one or more of the actions set forth above iu tiffs Section 4. ~ Lender nmy require Borrower to pay a one-time clmrge for a re~ estate tax verification anWor reporting se~,ice used by Lender in com~ection with Ihis Loau. 5. Property Insurance. Borrower slufll keep lhe in~proven~euts no~v existing or hereafter erected on lhe Properly insured against loss by ,fire, haaqrds included wiflfin fl~e term "extended coverage," and any other hands including, but not limited to} em'~quakes m~d floods, for whicli Lender requires insurance. This iust~ance shall be maintained in the amounts (incfi~ding deductible levels) aud for tim periods tirol Lender requires. What Lender requires pursuant to the precediug sentences can change dnring fl~e term of the Loan. The insunmce carrier providing fl~e insurm~ce shall b{ chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which fight shall not be exercised nnreasonably. Lender nmy require Borrower to pay, in co~mection with tiffs Loan, either: (a)a one-time charge four flood zone deterlnination, ceaification and ~acking sen, ices; or ¢)a one-lime charge for flood zoue determin[~tion and certification sen, ices and subsequent charges each time remappings or similar changes occur which re~:sonably might affect such deternfinafion or certification. Borrower shall also be responsible for fl~e payment of any fees imposed by the Federal Emergeucy Management Agency in cmmection wifl~ the review of any flood zoue dete:rn~mtion resulting from an objection by Bogower. If Borrower fifils to m~htain m~y of the coverages described above, Lender tnay obtaiu insurance coverage, at Lender's option and Borrower:s expense. Leuder is under no obligation to purchase any parficnl~ t)~e or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity iu the Property, or the conlents of the Prope~y, against any risk, hazed or liability and might provide greater or lesser coverage INto was p[ev~ously in effect. Borrower acknowledges that fl~e cost of the insnrance coverage so obtained might significantly exceed the cost of insurance that Borrower could lmve obtained. Any amonnts disbnrsed by Lender m~der tiffs Section 5 shall become additional debt of Borrower secured by this Security InsWument. These amounts shall, bear interest at the Note rate from fl~e date of disburselnent and sball be payable, with such interest, upon notice fr',am Lender to Borrower requesting payment. All insurance policies reqtfired by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, aud shall nmne Lender as mortgagee m~Wor as an additional loss payee. Lender sl?all lmve tim right to hold fl~e policies aud renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receiPts of paid premiums and renewal: notices. If Borrower obtains any forln of inst~auce coverage, not othenvise required by Lender, for damage to, or desm~ction of, the Property, snch policy shall inclnde a standard moagage clause and sb~l name Lender as mortgagee an~or as an additional loss payee. ~ In fl~e event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may m~e proof of loss if not made p:~omptly by Borrower. Unless Lender and Bo~ower othem, ise agree in writing, any insurm~ce proceeds, whether or not the underlying insurm~ce was required by Lender, shall be applied to restoration or rep~r of the Property, if the restoration or repair is economically feasible and Lender's secnriB' is not lessened. During such repair and restoration period, Lender shall have fl~e right to hold sncli insurance proceeds until Lender bas had an opporttmily to inspe~zt such Property to eusure tim work bas been completed to Lender's satisfaction, provided that such inspection sh~l be undertaken promptly. Lender may disbnrse proceeds for fl~e rep~rs and restoration in a single payment o? in a series of progress payments as the work is completed. Unless ~ a~eement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall uot be required to pay Borrower any interest or eanfings on such proceeds. Fees for public adjusters, or other flfird paflies, retained by Borrower shall not b~ paid out of the insurm~ce proceeds and shall be fl~e sole obligation of Borrower. If lhe restoration or repair is not economically feasible or Lender's security would be lessened, fl~e insnrance proceeds shall be applied to the sums seci~red by this Security h~s~ment, whether or not fl~en due, wifl~ fl~e excess, if any, paid to Bogower. Sncb insurm~c~ proceeds shall be applied iu the order provided for iu Section 2. ff Borrower abandons fl:~e Property, Leuder may file, negotiate and settle any available inst=m~ce claim m~d related lnatters, ff Borrower doe~s not respond witlfin 30 days to a notice from Leander that fl~e insnrm~ce carrier has ~ No: W01759297 ~~ ~ --TI-~Wyoming CO~,WLI~CE Mo,lgage-Single So~/cE,Fan'ily'Fa'u'ie INC.-- ': Mae/F,'eddie Mac UNIFO~I PageXNS'r~zm'~E~X 6 or ~4 /- ~ g~o,,m~,i Fg,-,,,,~,o,~ 3051 01/010,/0a 092 offered to settle a claim, fllen Le:lder may negotiate and settle fl~e claim. The 30-day period will begin when the notice is given. Iu either event, or if Lender acqnu'es the Property uuder Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in ,'m amount not to exceed the amounts unpaid under the Note or tiffs Security In~;tmment, and (b) any other of Borrower's rights (other fl~an die right to any refund of uneanied prelnimns paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurauce proceeds either to repair or restore fl~e Property or to pay amounts unpaid trader the Note or this Security Instm,nent, whefl~er or not then due. 6. Occupancy. Borrower shall occupy, establish, and use tim Property as Borrower's principal residence within 60 days after the execution of this Security Instrument aud shall continue to occupy the Property as Borrower's principal residence for at least one ),ear after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not' be unreasonably witld~eld, or tmless extenuating circumstances exist which ,are beyond Borrower's control. 7. Preservatiou, Maintenance and P.'otection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or connnit waste on the Property. Whether or not Borrower is residing in tim Property, Borrower shall maintain the Properly in order to prevent d~e Property from deteriomling or decreasing in value due to its condilion. Unless it is determined pm'suant to Section 5 fllat repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid fiirther deterioration or danlage. 'If insurance or condmmlation proceeds are paid in cotmection with dmnage to, or the taldng of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purpgses. Lender ina}' disburse proceeds for d~e repairs aud restoration in a single payment or in a series of progress payments as tile work is compleled. If the insurance or condemnation proceeds are not sufficient to repair or restore the Properly, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may i.nake reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect fl~e ini.erior of the improvements on fl~e Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. ' 8. Borrower's Loan Application. Borrower shall be in default if, during fl~e Loan application process, Borrower or any persons or entit_.es 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 i~fformation) in com~ection with the Loan. Material representations include, but are not limited to, represenmlions concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of iLender's Interest in the Property ami Rights Under this Security Inst,'nment. If (a) Borrower fails to perform fl~e Covenants and agreements contained in tiffs Security Iustmment, (b) lhere is a legal proceeding that might sigmificm-~tly affect Lender's interest in fl~e Property and/or rights under tiffs Security Instnnnent (such as a proceeding', in bm~kruptcy, probate, for condenmation or forfeiture, for enforcement of a lien which may attain priorib, over tiffs Security Instrument or to enforce laws or regtflations), or (c) Borrower has abandoned the Property, fl~en L.er..der may do and pay for whatever is reasonable 'or appropriate to protect Lender's interest in file Property and rights under tiffs Secnrity Instrument, including protecti;ng and/or assessing the value of tim Property, and securiug and/or repairing the Property. Lender's actions can qnclude, but ,are not limited to: (a) paying ,m~y sulns secured by a' lien which has priority over this Security Instrmnent; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in fire Property and/or rights under tlfis Security Instrument, including its secured position in a ban'kmptcy proceeding Securing the ProPerty includes, but is not linfited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water fi'om pipes, elinfinate building or odier code violations or dangerous conditions, and have ntilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not m~der any duty or obligation to do So. It is agreed that Lender incurs no liability for nol taking ,'my or all actions aufllorized under fltis Section 9. Loan No: W01759297 ~Vyoming Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFOI~'I INSTRUMENT --TILE COMPLIANCE SOIYRCE, INC.-- Page 7 of 14 ed Form 3051 01/01 11301115' v ~2000, The Compliance Source, Inc. £ : · ;2 "93 Any amounts disbursed by Lender under tiffs Section 9 shall become additional debt of Borrower secnred by this Security Instrument. Th~;se amounts shall bear interest at file Note rate from file date of disbursement ,'md shall be payable, with such interest, upon notice fi'om Lender to Borrower requesting payment. If tiffs Security lnstmmfnt is on a leasehold, Borrower shall colnply with all the provisions of the lease. If Borrower acquires fee title to flm~Propeny, the leasehold and fl~e fee title shall not merge unless Lender agrees to file merger in writing. 10. Mortgage Insurance. If Lender reqnired Mortgage Insurance as a condition of making file Loan, Borrower shall pay the preminms required to maintain fl~e Mortgage Insnrmlce in effect. If, for any reason, file Mortgage Insurance coverage required by Lender ceases to be available from file mortgage insurer that previously provided such insurance and Bmrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the preminlns rexluired to obtain coverage subst,'mfially equivalent to file Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Morl gage Insurance coverage is not available, Borrower shall continue to pay to Leuder the amount of tile separately designated payments that were due when file insurance coverage ceased to be in effect. Lender will accept, use ,and retain fliese payments as a nou-refimdable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refimdable, notwithstanding the fact mat the Loan is ifltimately paid m full, ,and Lender shall not be required to pa), Borrower any interest or eafiffngs on such loss reserve. Lender call no longer require loss reserve payments if Mortgage Insm'ance coverage (in the amonm and for Ihe period that Lender requires) provided by an insurer selected by Lender again becomes, avaihqble, is obtained, and Lender requires separately designated payments toward the preuffmus for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making tim Loan and Bm~ower was required to makro: separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the preulitun~ required to maintain lVlortgage Insurance in effect, or to provide a uon-refimdable loss reserve, until Lender's reqt!irement for Mortgage Insurance ends in accordance wifl~ any xvritten agreement between Borrower and Lender providing for snch temfination or until tenuination is required by Applicable Law. Nothing in tiffs Section 10 affectg Borrower's obligation to pa3' interest at file rate provided in fl~e Note. Mortgage Insurance reimburses Lender (or any entity that pnrchases the Note) for certain losses it may incur if Borrower does not ,-epa), ithe Loan as agreed. Borrmver is not a part3' to the Mortgage Insurance. Mortgage insurers evaluate flleir total risk on all such insurance in force fi'om time to time, and may enter into agreements with olher parties flint share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and thc other party (or parties) to these agreements. These agreements may require tlle mortgage insurer to make payments nsing any source of funds flint the mortgage insurer may have available (wlfich may include funds obtained from Ivlortgage Insurance prelnimns). As a result of these agreements, Lender, all), purchaser Of the Note, another insurer, any reinsurer, any other entity, or any affiliate of all), of the foregoing, may receive (directly or indirectly) amounts fllat derive from (or might be characterized as) a por, tion of Borrower's payments for lVlortgage lnsur,'mce, in exchange for sharing or modifying file mortgage insurer% risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insm'er's ris"~< iii exchange for a shm-e of the premiums paid tb the insurer, tim arrangement is often termed "captive reinsurance." Fm-ther: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other lerms .6f the Loan. Such ag,'eements will not inc,'ease the amount Borrower will owe for Mo,'tgage Insurance, and tkey will not entitle Bo,'rower to any rcfnnd. (b) Any such agreements will not affect the rights Bo,'rower has - if any- with respect' to the Mortgage Insurance under the Ifomeowne,'s P,'otection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to reqnest and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mo,-tgage Insurance premiums that were nnearned at the time of such canccllatiou o,' termination. Loan No: W01759297 Wyoming Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT --TILE COMPLIANCE SOURCE, INC.-- Page 8 of 14 ©2000, The Compliance Source, Inc. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous assigned to and shall be paid to L~.inder. If the Property is damagled, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or reliair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opporttmity to inspect such P~:operty to ensnre file work has been completed to Leuder's satisfaction, provided flint such inspection shall be uuilerlaken promptly. Lender may pay for fl~e repairs m~d restoration in a single disbursement or in a series of pro3ress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires iutere'st to be paid on such Miscellm~eous Proceeds, Lfinder shall not be required to pay Borrower any interest or earuings on such Miscellaneons Proceeds. If the restoration or repair is not economically feasible or Lender's security wotfid be lessened, file Miscellaneous Proceeds shall be applied to {he sums secured by this Security Inslrument, whetlier, or not fl~en due, with fl~e excess, if any, paid to Borrower. Snch Miscellmleons Proceeds shall be applied in the o~.der provided for in Section 2. In the event of a total taking, destruction, Or loss in value of file Property, the Miscellaneous Proceeds shall be applied to the stuns securSd by this Security Instrument, whether or not then due, wifl~ fl~e excess, if any, paid to Borrower. In file event ora partial taking, destruction, or loss in value of the Property in which the fair market value of file Property iimnediately before the partial taking, destruction, or loss in value is equal to or greater thau the a,nount of fl~e snms secured by this Security Instrument iuunediatelY before the partial taking, destruction, or loss in value, unless Borrower and Lender othenvise agree in writing, the sums secured by this Security Instrument shall be reduced by the amonnt of file Miscellaneous Proceeds nmltiplied by the following fraction: (a) file total mnount of the sums secured inlmethately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property ilnmediatel)~i before the partial t,'fldng, destruction, or loss in value. Ally balance shall be paid to Borrower. In fl~e event of a partial raking, destruction, or loss iu value of the Property in which the fair market value of the Property immediately before ll~e partial taking, destructiou, or loss in value is less than fl~e' amount of the sums secured inunediately before the partial taking, destruction, or loss in value, unless Borrower and' Lender othem,ise agree in writing, fl~e Miscellm~eous Proceeds shall be applied to the stuns secured by tlfis Security Instrument whether or not the stuns are fl~en Clue. ; If the Property is abandoned by Borrmver, or if, after notice by Lender to Borrower fllat fl~e Opposing Party (as defined in fl~e next sentence) Offers to make an award to settle a claim for, damages, Borrower fails to respond to Lender witlfin 30 days after the date the notice is given, Lender is authorized to coliect and apply the Miscellaneous Proceeds either to restoration or r/ipair of the Property or to the sinus secnred by tlfis Security Instrun~ent, whefller or not fllen due. "Opposing P~ty". means fl~e tlfird pmty that owes Borrower MisCellaneous Proceeds or fl~e party against whom Borrower has a figl'~t of action in regard to Miscelh'meous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest m the Property or rights under this Secnri.ty lustrument. Borrower can cure such a default and, if acceleration has occm-red, reinstate as provided in.Section 19, by causing the action or proceeding tO be dismissed with a ruling that, in Lender's judgment, precludes 7orfeitnre of the Property or olher material ilnpainneut of Lender's interest in the Property or fights under fills Se:.nrity Instrument. The proceeds of any award or claim for damages fl~at are attributable to fl~e impaim~ent of Eender's inlerest in the Property are hereby assigned and shall be paid to Leuder. All Miscellaneous Procei:ds that are not applied to restoration or repair of tile Property shall be applied in tim order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of fire time for payment or modification of amortization of the snms secured by this Security Iustrument granted by Lender to Borrower or any Successor iu Interest of Borrower shall not operate to release the liability of Borrower or m~y Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor iu Interest of Loan No: W01759297 ~ ~s~~' ~F~/-- Wyonflng Mo~4gage-Single Family-Famfie Mae/Freddie Mac UNIFORI¥1 INSTRUMENT h ideal --TILE COMT'L1ANCE SOURCE, INC.-- ~'w.compl~ances ource c0m Page 9 of 14 II111 IIIII IIIll t[l,I I!1II I1111 IIII IIIII I,III IIIll II1[ Proceeds are hereby Form 3051 01/01 ~4]0~wY 0s/00 ©2000, The Compliance Source, Inc. Borrower or to refilse to extend time for payment or otherwise modify amortization of the snnrs secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors iii Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, wifllout linfilation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less titan the amount fllen due, shall not be a waiver of or preclude rite exercise of rely right or remedy. 13. Joint and Several Liability; Co-signers; Successo,'s and Assigns Bonml. Borrower covenants and agrees that Borrower's obligations mid liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-siguer"): (a) is co-signing fids Security Instrument only to mortgage, grma and convey the c.0-signer's interest itl the Property trader file terms of this Security Instrnment; (b) is not personally obligated to pay the snms secured by this Security Instrumeut; aed (c) agrees that Lender and auy other Borrower can agree to exte nd, modify, forbear or m~e any accommodations wifl~ regard to the terms of this Security Instrument or the Note wifllout tim co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligatmns under tiffs Security Instrument iii writing, mid is approved by Lender, shall obtaiu ,"dl of Borrower's rights and benefits under fltis Security Instrunlel~t. Borrower shall not be released from Borrower's obligations ,and liability under this Security Instrument tmless Lender agrees to such release in writing. The covenants and agreements of this Security Instrmnent shall bind (except as provided itt Sectiou. 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in comrection with Borrower's default, for the purpose of protecting Leuder's interest ill tim Property and rights under tiffs Security Instmlnent, including, but not limited to, attorneys' fees, propert).' inspection and valuation fees. In regard to any other fees, the absence of express aufllority in this Secnrity Instnmrent to charge a specific fee to Borrower shall not be construed as a prohibition on llie chm'ging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instnunent or by' Applicable Law. If the Loan is snbject to'a law which sets maximum loan charges, and that law is finally interpreted so that the interest or oilier loan charggs collected or to be collected in com~ection with the Loan exceed the permitted Imfits, titan: (a) any such lom; charge shall be reduced by the amonnt necessary to reduce the charge to the permitted linfit; and (b) any stuns already collected from Borrower which exceeded pernfitted limits will be refimded to Borrower. Lender may choosd lo make this retired by reducing tile principal owed under file Note or by making a direct paymeut to Borrower. If a retired reduces princip,'fl, file reduction will be treated as a partial prepaylnent without any prepayment charge (whether or not a prepayment charge is provided for under file Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out Of such overcharge. 15. Notices. All notices given by Borrower or Lender in cmmection Milt tlfis Security Instrument must be ii1 writing. Any notice to Borrower in cmmection with fids Security Instrument shall be deemed to have been given to Borrower when mailed by firsf class mail or when actually delivered to Borrower's notice address if sent by oilier ineans. Notice to any one Bor?ower shall coustitute nolice to all Borrowers ti!nless Applicable Law expressly requires olherwise. The notice ['~ddress shall be the Property Address unless B0n'ower has designated a substitute notice address by notice to Lender. Borrower shall promplly notify Lender of Borrower's change of address, if Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address tlirougli Ihat specified procedure. There may be only one designated i~otice address under this Security Instrunlent at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein: unless Lender has designated ,'mother address by notice to Borrower. Any notice in connectiou with tiffs Security 'Instrument shall not be deemed to have beeu given to Lender until actnally received by Lender. If any notice required by this Security lnsmmient is also required tinder Applicable Law, the Applicable Law requirement will satisfy the Forrespondiug reqttirement tinder this Security hls, nuuent. 16. Governing Law; Severability; Rules of Construction. Tlfis Security InsU'unmnt shall be governed by federal law and tim law of the jurisdiction in which file Property is located. All fights mid obligations contained Loan No: W01759297 Wyoming Mortgage-Single Family-Fannie Nine/Freddie Mac UNIFORM INSTRUMENT MEI/'~od'~ed Form 3051 01/01 --Trig COMPLIANCE SOURCE, INC.-- ' Page 10 or14 14301WY 08/00 ©2000, The Comphance Source, {nc, in this Security lnslmment are s'ubject to any reqnirements and lmfitallons of Applicable Law, Applicable Law nfl§hr e×plicitly or implicitly allow the parties ~o as~ee by contract or il might be si,~ent, but such silence shall not be conslmed as a prohibition agains[ agreement by contract. Iii the event that any provis~on or clause of this Security Instrument or the Note colffiicts with Applicable Law, such conflict shall not affect otlmr provisions of tlris Security Instnunent or the Note which cm~ be given effect wi [hour the conflicting provision.. As used in fi'lis Security Ins/rmnenl: (a)words of the masculine gender shall mean and include correspondiug neuter words or words of the feminine gender; (b) words in the singular shall ~nemi and include the plural and vice versa; aud (c) the word "may" gives sole discretion without any obligation to rake any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of tile Property or a Beneficial Interest in Borrowen As used in flfts Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, iucluding, but not limited to, fllose beneficial interests transferred in a bond for'deed, contract for deed, installment sales contract or escrow agreement, the intent of which is file transfer of lille by Borrower at a fi~lure date to a purchaser. If all or m~y purl of the Property or any Interest in lhe Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all stm~s secured by this Security Instrument. However, this option shall not be exercised by Lender i-7 such exercise is prohibited by Applicable Law. If Lender exercises tiffs c~ption, Lender shall give Borrower nolice 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 stuns secured by lifts Securily Instnunent. If Borrower fails to pay these sums prior to the expiration of this period, Lender ~nay invoke any remedies permitted by tlfts Security Instrument without further notice or demand oil Borrower. 19. Borrower's Right lo Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have file right to have elfforcement of this Security Instrument discoutinued at any lime prior to fl~e earliest of: (a) five days before sale of/lie Property pursuant to any power of sale contained in flfts Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing flfts Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums wlfich then would be due under this Security Instrmnent and file Note as if no acceleration had occurred; Co) cures any default of any other covenants okagreements; (c) pays all expenses incurred in mffo. rcing flits Security Instrument, including, but not linfited to, reasonable attorneys' fees, property inspection and valuation fees, and oilier fees iucurred for the purpose of protecting Lender's interest in file Property and rights under flits Security Instrument; mid (d) takes such action as Lender r~}ay reasonably require to assure that Lender's interest in the Property and rights under tlris Security Instrumeut, aid Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require ilia/Borrower pay such reinstatement sums and e>~penses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawu upon ail institution whose deposits are insured by a federal agency, instrumentality oi: entity; or (d) Electronic Funds Transfer. Upon.reinstatement by Borrower, flits Security Instrmnenl mid obligations secured hereby shall remain fully effective as~if no acceleration had occurred. However, this right to reinstate slmll not apply iii the case of acceleratiou nnder Section 18. 20. Sale of Note; Change of Loan Servicer; Notice et' Grievance. Th~ Note or a partial interest in file Note (together with tlfts Security !nstmment) can be sold one or more times without" prior notice to Borrower. A sale might result ill a chm~ge in file entity (known as file "Loan Servicer") Ihal collects Periodic Payments due lmder the Note and lhis Security Instrument and performs other mortgage loml servicing obligations under file Note, this Security Instrument, and Applicable Law. There also might be oue or more changes of the Loan Servicer m~related to a sale of the Note. If there is a change of the Lomi Servicer, Borrower will be g!ven written notice of the change which will state fife name and address of the new Loan Servicer, file address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of sen, icing If the Note is sold m~d thereafter lhe Loan is serviced by a Loan Servicer olher than file ptirchaser of the Note, file mortgage loan servicing Loan No: W01759297 ~s ~lir~-~o,.,,, 3o5~ o~/o ~ Wyomh~g Morlgage-Single Family-Famde Mae/Freddie Mac UNIFORM INSTRUMENT --THE COMPLIANCE SOURCE, INC.-- Page 11 of 14 w~w.conlpliancesoln-ce.con~ 14301WY 08~00 1>2000, The Compliance Source, Inc. 0'-37 obligations to Borrower will remain with tile Loan Servicer or be trmlsferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note pnrchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either ,an individual litigant or the member of a class) that arises from the other party's actions pursumlt to this Security Instnunent or flint alleges flint fl.'e other party has breached auy provision of, or {lily duty owed by reason of, this Security Instrument, nntil snchll Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Sectiou 15) of snch alleged breach and afforded the other party hereto a reasonable period ,fi{er the giving of Snch notice to take corrective action. If Applicable Law provides a time period Which mnst elapse before certai~X action cau be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice oflaccelerafion and opportunity to cure given to Borrower pursu,'mt to Section 22 and the notice of acceleration given to Borrower pursuant Io Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardons Substances. As used in this Section 21' (a) "Hazardons Subslances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Enviromnental Law and fl{e follotving snbstances: gasoline, kerosene, oilier flammable or Ioxic petroleum products, toxic pesticides and herbicides, volatile solvents, ~nalerials containing asbestos or formaldehyde, and radioactive materials; (b)"Environmental Law" means federal laws and laws of the jnrisdicfion where the Property is located that relate to health, safety or environmenlal protection; (c) Em~ronmental Cleannp" inch{des any respouse action, remedial action, or removal action, as defined iu Environmental Law; ~ind (d) an "Environmental Condition" means a condition tirol can cause, contribute to, or otherwise trigger all Enviromnental Cleanup. Borrower shall not cause or pernilt file presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Snbslances, on or iu file Property. Borrower shall not do, nor allow anyone else to do, anything aff.,'.ecting the Property (a) fllat is in violation of auy Enviromnental Lax;,, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition fllat adversel~i,, affects the valne of the Property. The precediug two sentences shall not al)ply to lhe presence, use, or storage oin file Property of small qumltities of Hazardous Substm~ces that are generally recognized to be appropriate to: normal residential uses and to mainteuance of the Property (inch{ding, bnt not limited to, hazardous substances iu consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, delnand, lawsuit or other action by an3' govermneutfil or regulatory agency or private part), invoMng tim Property and auy Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmeutal Condition, inch{ding but not limited to, any spilling, leaking, discharge, release or threat of release of arty Hazm'dons Substauce; and (c) m~y coudition caused by the presence, use or release of a Hazardous Snbstance which adversely affects the valne of the Property. If Borrow!er learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting fl~e Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance wi{it Enviroumenml Law. Nothing herein shall create any obligation on Lender for all Enviromnental Cleanup. NON-UNIFORM COVENANTS. Borrower ,'md Lender fiulher covenm~t mid agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Secnrity Iustrumen~ (but not prior to acceleratiou umler Section 18 unless Apl)licable Law provides otherwise). The notice shallispecify: (a) the default; (b) the action required to cure the default; (c) a {late, {lot 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 tile default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of thc right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or ansi other defense of Borrower to acceleration aud sale. If the default is not cured on or before the date specified in the notice, Lender at its Loan No: W01759297 Wyoming Mortgage-Single Family-Famfie Mae/Freddie Mac UNIFORAI INSTRUMENT --THE COMJ?LIANCE SOURCE, INC.-- ',mmv.compliancesoulce.com Page 12 of 14 I I I I lllllllltllllllllllllllllllllllllillllllllllllllllllll/lllllllll[ 14301WY 08/00 ~,2000 The Compliance Source, Inc. option may require immediate payment in hill of all sums secnred by this Security Instrument without further demand and may invoke the power of sale anti any other re~nedies permitted by Applicabl.e Law. Lender shall be entitled to collect all expenses incurred in imrsuing the remedies provided in this Section 22, iuclnding, 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 io Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manuer provided in Section 15. Lender shall Imblish the notice of sale, and the Pr6perty shall be sohl in the manner prescribed by Applicable Law. Leuder or its designee may lmrchase 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 attorneys' fees; (b) to ;ill snms secm'ed by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all snms secured by this Security Inslmment, Lender shall release riffs Security Instnunent. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing Security htstmment, but only if tl;m fee is paid to a tlfird part5, for services rendered and file charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue o£ the homestead exemptiou laws of Wyolning. BY SIGNING BELOW, Borrower accepts and agrees to the terms ,'md covenants contained in tiffs Secnrity hlstrument mid in any Rider executed by Borrower and recorded with it. Witnesses: Printed Name: ¢Please Complete] Printed Name' [Please Complete] '~~ -BOITOWer BARBARA A. I3X_RRAZOLO -Borrower (Seal) -Borrower -- [Acknowledgment on Following Page) (Seal) -Borrower Loan No: W01759297 Wyonfing Mortgage-Single Family-Fannie b'laefFreddie Mac UNIFORNI INSTRUbIENT ThE COi~F'LIANCE SOLrRCE, [NC.-- Pa ge 13 of 14 bIERS Modified Fo,'m 3051 01/01 14301~vY o81oo ©2000, The Compliance Source. Inc. State of ,~~~ County of ~/~ Before me Ihe undersigned authority, on tiffs day personally appeared 'a_nd BARBARA A. Zg_RRAgOLO JOSEPH M. I_ARRAZOLO 099 known to me (or proved to me through an idenlity card or other document) to be the person(s) whose name i,s subscribed to the foregoing instrument, and acknowledged to me flint he/she/flmy executed the same for fl~e purposes and consideration therein expressed. Given nnder my hand m~d seal on this (Seal) Loan No: W01759297 Wyoming Mo~gage-Sing e Fa nily-Famfie Mae/Freddie Mac UNIFOR5,I INSTRUMENT --TI-IE COI¥[PLIANCE SOURCE, INC.-- Page 14 of 14 ~2000, The Compliance Source, Inc. LEGAL DESCRIPTION Lot 3 of Kennington Circle Addition of the South Kennington Court to the Glen Kennington Addition to the Town of Afton, Lincoln County, Wyoming as described on the official plat thereof.