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HomeMy WebLinkAbout900022Return To: WELLS FARGO BANK, FINAL DOCUMENTSX4701-022 900022 3601 MINNESOTA DRIVE BLOOMINGTON, MN 55435-5284 RECEIVED ,LINCOLN COUNTY CLERK JUN -9 PH 3=59 JEANNE WAGNER ,'-:E ~_ . ~ I Prepared By: MARLA S. TRANCHINA WELLS FARGO BANK, N,A. 4041 ESSEN LANE //300 BATON ROUGE, LA 708C9- --[Space Above This Line For Recorcling Data] MORTGAGE 0138158852 DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument'~ means this document, which is dated JUNE 9, 2004 together with all Riders t:~ this document. (B) "Borrower" is KENNETH C, CALL, UNMARRIED Borrower is the mortgagnr under this Security Instrument. (C) "Lender" is WELLS FARGO BANK, N.A. Lender is a National Ass3ciation organized and existing uhderthe laws of THE UNITED STATES OF AMERICA WYOMING - Single Family - Fan/~ie Mae/Freddie Mac UNIFORM INSTRUMENT Page 1 of 18 Initials: FORM 3051 1101 SWYOt Rev og/1310t ,.-,o6 Lender's address is P. O. BOX 5137, DES MOI'NES, IA 50306~5137 Lender is the mortgagee iJnder this Security Instrument. (D) "Note "means the promissory note signed by Borrower and dated JUNE 9, 2004 The Note states that Borr.?wer owes Lender FIFTY-SIX THOUSAND ONE HUNDRED AND NO/100 ' Dollars (U.S. $ .....5..6,1....0.0.:.0..0. ............... ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments andlo oay the debt in ful not later than JULY 1, 2034 (E) "Property" means the !l:,roperty that is described below under the heading "Transfer of Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (G) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are -o be executed by Borrower [check box as applicable]: [-~ Adjustable Rate Rider F'-I Condominium Rider ['~Second Home Rider r----I Balloon Rider ~ Planned Unit Development Rider ~1-4 Family Rider F~VARider ~ Biweekly Payment Rider ~Other(s) [specify] Prepayment Rider (H) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (thai.have the effect of law) as well as all applicable tingl, non-appealable judicial opinions. (I) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, tele,ohonic instrument, computer, or magnetic tape so as to order, 'nstruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" means-those items that are described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any thirJ party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) cOndemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations o', or omissions as to, the value and/or condition of the Property. (M) "Mortgage Insurancer' means.insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" 'means the regularly scheduled amount due for (i) principal and nterest under 1he Note, plus (ii) any amounts under Section 3 of this Security Instrument.' (O) "RESPA" means the Real Estale Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementin;I regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to tim~, or any additional or successor legislation or regulation that SWY02 Rev 12/1B/00 Page 2 of 18 Initials: FORM 3051 1101' governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictons that are imposed in regard to a "federally relaled morlgage loan" even if the Loan do(,s not qualify as a "federally related mortgage loan" under RESPA. (P) "Successor in Interest:of Borrower" means any parly that has taken title to the Property, whether or not that party 'has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN.THE PROPERTY This Security Instrument ..~,~cures to Lender: (i) the repayment of the Loan and all renewals, extensions and modificatio~ls of the Note; and (ii) the performance of Borrower's convenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, g-ant and convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the County of LINCOLN : [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] LEGAL DESCRIPTION IS II, T'I'ACHED HERETO AS SCHEDULE "A" AND MADE A PART HEREOF. THIS ~S A PURCHASE MONEY MORTGAGE. Parcel ID Number: which currently has the address of 411 AGATE STREET [Street] KEMMERER [City], Wyoming 83101 [Zip Code] ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part o1' the property. Al replacements and additior's shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENAHTS that Borrower's lawful y seised or the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property ~s unencumbered, except for: encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non- uniform covenants with lir~ited variations by jurisdiction to constitute a uniform security instrument covering real prpperty. / SWY03 Rev tl/06/00 Page 3 o1' 18 Inlt~a s~/~//~ FORM 3051 1/O1 O O00Z;2. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal,, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when cue the principal of, and interest on, the debt evidenced by the Note and any prepaymert charges and late charges due under the Note. Borrower shall also pay funds for Escrow rems pursuant to Section 3. Payments due under the Note and this Security Instrument ish,'all be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid,: Lender may require 1hal any or all subsequent paymenls due under the Note and this Security Instrument be made 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 checlc provided any such check is drawn upon an institution whose deposits are insured by ~ f,ederal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial p~,yment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need nol pay interest o~"'1 unapplied funds. Lender may hold such unapplied funds until Borrower makes paymen't to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, sucq funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure No offset or claim which Borrower might have now or in the future again'st Lender shall relieve Borrower from making payments due under the Note and this Security nstrument or performing the covenants and agreements secured by this Security Instrumep't. 2. Application of Pay;~nents or Proceeds, Except as otherwise described in this Section 2, al payments accepted a3d applied by Lender shall be applied in the following order of priority: (a) interest due t. nder the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such paTments shall be applied to each Periodic Payment in the order in which it became due Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and theri to reduce the principal balance or the Note. If Lender receives a p.~yrnent from Borrower for a delinquent Periodic Payment which includes a sufficienl amoun to pay any late charge due, the payment may be applied tolhe delinquent payment and the late charge, fmore than one Periodic Payment is outstanding, Lender may apply any p~yment received from Borrower to the repayment of the Periodic Payments if, and to the e~t~,nt that, each payment can be paid in full. To the extent that any excess exists after the pa'/menl is applied lo the full payment of one or more Periodic Payments, such excess r~:y be applied to any late charges due. Voluntary prepayments shall be applied first to aFy prepayment charges and then as described in the Note. SWY04 Rev 11/06/00 Page 4 o( 18 Inili Is: FORM 3051 1101 Any application of payrr~ents, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall no.t extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for paymenl of amounts due for: (a) taxes and assessments and other items which can attain priority over this Securit'7 Instrument as a ien or encumbrance on the Property; (b) leasehold payments or ground rents on 1he Property, if any; (c) premiums for any and all insurance required by Len~ler under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in ac~:ordance with the provisions of Section 10. These items are called "Escrow Items." At origim:~lion or at any time during the term of the Loan, Lender may require thal Community A3sociation Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender' all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or a~l Escrow Items. Lender may waive Borrower's obligation lo pay to Lender Funds for any cr all Escrow Items at any time. Any such waiver may only be in writing. In the event of su!.:h waiver, Borrower shall pay directly, when and where payable, the amounts due for any ;[:Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide ::gceipts shall for all purposes be deemed to be a covenant and agreement contained in th'is Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Bo~-rower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails ~o pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Leneer any such amount. Lender may revoke the waiver as to any or all Escrow Items at any tirrte by a notice given in accordance with Section 15 and, upon such revocation, Borrower shalJ pay to Lender all Funds, 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 permit Lender to apply the Fund~; at the time specified under RESPA, and (b) not to exceed the maximum amount a le.nde; can require under RESPA. Lender shall estimate the amount of Funds due on the basis o( current data and reasonable estimates of expenditures of future Escrow Items or otherwise'in accordance with Applicable Law. The Funds shall be held' in an institution whose deposits are insured by a federal agency, instrumentality, or entity (iacluding Lender, if Lender is an institution whose deposits are so insured) or in any Feder;'~[ Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later ths. n the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law ii'~quires interest to be paid on the Funds, Lender shall not be SWYO5 Rev 11/06/00 ~,I' Page 5 of 18 Inilials FORM 3051 1/01 '! 0.90002;2; ' .... '3 a 0 required to pay Borrowe any interest or earnings on the Funds. Borrower and Lender can agree 'n writing, howevei', that interest shal be paid on the Funds. Lender shall give 1o Borrower, without charge,, ~,n annual accounting of the Funds as required by RESPA If there is a surplus of Funds held in escrow, as defined under RESPA Lender shall account to Borrower for t'h~ excess funds in accordance with RESPA. If there s a shortage of Funds held in escrow, ~.; defined under RESPA, Lender. shall notify Borrower as required by RESPA, and Borrowe'r shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, ard Borrower shall pay to Lender the amount necessary to make up the deficiency in accordar, ce with RESPA, bul in no more than 12 monthly payments Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Boirower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold pafments or ground rents on the Properly, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow terns, Borrower shall pay tr~em in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borro~';er: (a) agrees in writing to the payment of the obligation secured by the lien in a manner ;~cceptable to Lender, but only so long as Borrower is performing such agreement; (b) conl'e.;ts the ien in good faith by, or defends agains! enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but ony until such proceedings are concluded; or (c) secure.,; ~'rom the holder of the lien an agreement satisfactory Io Lender subordinating the lien to tFis Security Instrument. If Lender determines that any part of the Property is subject to a I!en which can attain priority over this Security Instrument, Lender may give Borrower a no-ice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property" insured against loss by lire, hazards included within the term "extended coverage," and any other hazards including, but not imited to, earthquakes and floods, for which Lender -equires insurance. This insurance shall be maintained in the amounts (including dedu£tible levels) and for the periods that Lender requires. What Lender requires pursuant to the pr;eceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Bonower to pay, in connection with this Loan either: (a) a one-time charge for flood zone determination certification and tracking services; or (b) a one-time charge for flood zone deter:ruination and certification services and subsequent charges each time remappings or similar:changes occur which reasonably might affect such determination SWY06 Rev 10/25/00 Page 6 of 18 Inilials~~)~ FORM 3051 1101 or certification. Borrower{.dhall also be responsible'for the payment of any fees imposed by the Federal Emergency Dlanagement Agency in connection with the review of any flood zone determination result"ng from an objection by Borrower. I[ Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at i_ender's option and Borrower's expense. Lender is under no obligation to purchase andy particular type or amount ol~ coverage. Therefore, such coverage shall cover Lender, bul might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower.could have obtained. Any amounts disbursed by Lender under this Section 5 shall becorr, e additiona debt of Borrower secured by this Security Instrument. These amounts shal bear interest at the Note rate from 1he date ofdisbursemenl and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policieg required by Lender and renewals of such policies shall be subject to Lender's right to disapgrove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shal have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender .all receipts of paid premiums and renewal notices. I[ Borrower obtains any form of ~nsur~,nce coverage, not otherwise required by Lender, for damage to, or destruction of, the Prdperty, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may mak:.e proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise, agree in writing, any insurance proceeds, whether or not the under ying insurance was,,'equired by Lender, shall be applied to restoration or repair of the Property, if the restoratic'n or repair is economically feasible and Lender's security is not lessened. During such r~pair and restoration period, Lender shall have the right to hold such insurance proceeds'until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's salisfaction, provided that such inspection shall be undertaken promptly Lender may disburse proceeds for the repairs and restoration in a single ~ayment or in a series of l~rogress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on ~uch proceeds. Fees for public adjusters, or other third parties, retained by Borrower shat. l! not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be essen2~d, the insurance proceeds shall be applied to the sums secured by this Security Instrurh,~nt, whether or no1 then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. Ir Borrower abandon~ the Property, Lender may file, negotiate and settle any available insurance claim and rel~.~!.ed matters. I[ Borrower does no1 respond wilhin 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In SWY07 Rev 10/25/00 Page 7 of 18 Inilials . FORM 3051 1/01 09000 either event, or if Lender hcquires the Property under Section 22 or olherwme, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounls u¢~p~aid under the Note or lhis Security Instrument, and (b) any other of Borrower's righls (oth:er than the right to any refund of unearned premiums paid by Borrower) under all insu~rdnce policies covering the Property, insofar as such rights are applicable to the coverag, e of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or no'/ ihen due. 6. Occupancy..Borrower shall occuPy, establish, and use the Property as Borrower's principal residence withih fi0 days after the execution of lhis Security Instrument and shall continue 1o occupy the Pro~)erty as Borrower's principal residence for at least One year after the date of occupancy, Uqless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumslances exist which are beyond Borrower's control. 7. Preservation, Mainter~ance and Protection of the PropertY; Inspections. Borrower shall not deslroy, damage or ,impair the Property, allow the Property to deteriorate or commit waste on the Property. Wh~the¢ or not Borrower is residing in the Property, Borrower shall maintain the Property in.o'der to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to'Section 5 that repair or restoration is not econdmically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioralion or damage. If insurance or condemnation proceeds ar~ paid in connection ~?ith damage to, or the taking of, the Property, Borrower shall be responsible for repairing ;or- restoring the Property only if Lender has released proceeds for such purposes. Lender n,my disburse proceeds for the repairs and restoration in a single payment or in a series o~ progress payments as the work is completed. If the insurance or condemnation proceeds ;i'~r9 not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's ob'li(Jation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cau'.:e, Lender may inspect the interior of the improvemenls on the Property. Lender shall g~v~ Borrower notice at the time of or prior to such an interior inspection specie'lng sucl', reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's know.ledge or consent gave materially false, misleading, or inaccurate information or statements "o Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerni4_C- Borrower's ,occupancy of the Properly as Borrower's principal residence. · 9. Protection of Lender":,~ Interest in the Property and Rights Under this Security Instrument. If (a) Borrower,fails to perform the covenants and agreements contained in this Security Instrument, (b) t~ere is a legal proceeding lhat might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, fc'r condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or ,; SWYOB Rev 10/25/00 Page 8 of 18 InHiais,~,~ FORM 3051 il01 (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriatd, to protect Lender's interest in the Property and rights under this Security Instrument, incluc~ing protecting and/or assessing the value of the Property, and securing and/or repairinglllhe Property. Lender's actions can include, but are not limited to: (a) paying any sums sectlred by a lien which has priority over this Security Instrument; (bi appearing in court; and (.:1 paying reasonable attorneys' fees to protect its interest in the Property and/or rights ur;der this Security Instrument, including its secured position in a bankruptcy proceeding. Se'curing the Property includes, but is not limited to, entering the Property to make repair.% change locks, replace or board up doors and windows, drain water from pipes, elimina'.te building or other code violations or dangerous condilions, and have utilities turned on cr off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duly or obligation to do so. It is agreed that Lender incurs no liabi ity for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by t, hi~ Security nstrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender Io Bor-r.~wer requesting payment. If this Security Instrume,nt is on a leasehold, Borrower sha I comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge difiless Lender agrees to the merger in writing. 10. Mortgage Insurance, If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage nsurance in effect. If, for.a~ny reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was requir,~d to make separately designated payments toward 1he premiums for Morlgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent-".o the Mortgage Insurance previously in effecl, at a cost substantially equivalent to the cost lo Borrower of the Mortgage Insurance previously in effecl from an alternate mortgage insurer selected by Lender. Ir substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay lo Lender the amounl of lhe separately ctesignated payments that were due when the insurance coverage ceased to be in effect. Lender will accepl, use and retain lhese payments as a non-refundable loss reserve 'n lieu of Mortgage Insurance Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ullimately paid in full, and Lender shall nol be required lc! ,pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available,~'is obtained, and Lender requires separately designated paymenls toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the ...aan and Borrower was required lo make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mor.tgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's re,qUirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or unti termination is required I:.,y Applicable Law. Nothing in 1his Section 10 affects Borrower's obligation .to pay inlerest a,t the rate provided in the Note SWY09 Rev 11,/13/00 Pa§~ 9 o~' 18 Imt~al~ .- . . FORM 3051 1101 :-334 Mortgage Insurance'r¢imburses Lender (or any entity that purchases the Note) for certain losses it may inctlr!if Borrower does not repay lhe Loan as agreed. Borrower is not a party to the Mortgage I.~s¢urance. Mortgage insurersezaluate their total risk on al such insurance~n force from timelo time, and may enler into' ~,greements with other parties 1hat share or modify their risk, or reduce losses. These ag~,e~menls are on terms and conditions 1hat are satisfactory lo the mortgage insurer and th~:.· other party (or parties) lo these agreements. These agreements may require the mort§a.(le insurer lo make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of lhese ,t~reemenls, Lender, any purchaser of the Note, another insurer, any reinsurer., any other er tity, or any affiliate of any of the foregoing, may receive (directly or indirecly) amounts ~h,~t derive from (or might be characterized as) a porlion of Borrower's payments fori tVlortgage Insurance, ~n exchange for sharing or modifying the morlgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of '.h=. insurer's risk in exchange for a share of the premiums paid lo the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreer,,,~nts will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or' any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act o! 1998 or any other law, These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mo'tgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned lo and s,~ll be paid to Lender. If the Property is damaged such Miscellaneous Proceeds shall be applied to restoration or repair of the Properly. ir the restoration or repair is economically feasible and Lender's security is not lessened.' During such repmr and restoration period, Lender shall have the right to hold such Misceilaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed lo Lender's satisfaction, provided that such inspection sha, II be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a serms of progress payments as the work is completed. Unless an ag.~eement is made in writing or Applicable Law requires interest to be paid on such Miscellaqe'ous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on sLch Miscellaneous Proceeds If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the. excess, if any, paid lo Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in .3ection 2. SWYIO Rev 10/25/00 Page 10 of 18 Inlt~als-'~t FORM 3051 1101 035 In the event ora total laking, destruction or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, w~th the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partia faking, destruction, or loss in value ~s equal to or gl:eater than the amount of the sums secured by this Security Instrument immediately be?ore the partial taking, deslruction, or loss in value, unless Borrower and Lender othie, rwise agree 'n writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscel aneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss. in value divided by (b) the fair market value of the Property immediately before the pa~-.ial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair markel value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in valu:e, unless Borrower and Lender olherwise agree in writing, the Miscellaneous Proceeds sl~all be applied to the sums secured by this Security Instrument whether or not the sums arm then due. If the Property is abandoned by Borrower, or ir, after notice by Lender to Borrower that the Opposing Party (as det:ined in the next sentence) offers to make an award to settle a claim for damages, Borrow'er fails to respond to Lender within 30 days after the date the notice's given, Lender is a:c, thorized to collect and apply the Miscellaneous Proceeds either to restoration or repair oftl'~e Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or lhe party against whom Borrower has a r ght of action in regard to Miscellaneous Proceeds) Borrower shall be in default if any action or proceeding, whether civi or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's in.:eresl in the Property or rights under this Security Instrument. Borrower can cure such a dgfault and, if acceleration has occurred, reinstate as provided in Section 19, by causing th~ action or proceeding to be dismissed with a ruling that, in Lender's judgment, preclu;:les forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby a'ssigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of 1he Property shall be applied in the order provided for in Section 2. 1'2. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modificatior..'of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borro?er or any Successors in Interest of Borrower. Lender shall not be required to commence ~3.rOceedings against any Successor in Interest of Borrower or to refuse to extend time for p;;L~ment or otherwise modify amortization of the sums secured by SWYll Rev 11/06/00 I Page 11 of 18 Initial FORM 3051 1101 this Security Instrument ~y reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors 'n I~t, eres! of Borrower or in amounts less than the amount then due, shall not be a waiver of or. ~reclude the exercise of any righl or remedy. 13, .Joint and Several.Liability; Co-signers; Successors and Assigns Bound. Borrower .covenants and agrees that: Borrower's obligations and liability shall be joint and several. However, any Borrower w~o co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-§igqing this 'Security Instrument only to mortgage, graBt and convey the co-signer's interest in the Property Under the terms of this Security Instrument; (b) is not personally obligated to pay the sums Secured by this Security Instrument; and (c) agrees that Lender and any Other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provision of Section 18, any Successor in Interest of Borrower who assumes Borrower's obli.qations under this Security Instrument in writing, and is approved by Lender, shall obtain all .of Borrower's rights and benefits under this Security Instrument. Borrower shall not be rele~sed from Borrower's obligations and liability under this Security Instrum'ent unless Lender agrees to such release in writing. The covenants and agreements or this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns o~' Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's, default, for the purpose of protecting Lender's interest in the Property and rights unde~ this Security Instrument, including, but not limited to, attorneys' fees, property inspection i'a;~d valuation fees. In regard to any other fees, the absence of express authority in this S.,ecurity Instrument to charge a specific fee to Borrower shall'not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited b'./ this Security Instrument or by Applicable Law. If the Loan is subject tca law which sets maximum loan charges, and that law is finally interpreted so that the inlerest or other loan charges collected or to be collected in connection with the Loan e.<ceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may .:hoose to make this refund by reducing the principal owed under the I~ote or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment char~;Je is provided for under the 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 hav,.e :arising out of such overcharge. 15. Notices. All notice.,; given by Borrower or Lender in connection with this Security Instrument must be in wriiing. Any notice to Borrower in connection with this Security Instrument shall be deem(:d to have been given to Borrower when mailed by first class mail or when actually delivered ~o Borrower's notice address if sent by other means. Notice to any one Borrower shall con:;titute notice to all Borrowers unless Applicable Law expressly SWY12 Rev 11/06/00 Page 120f18 FORM 3051 1/01 t requires otherwise. The not ce address shall be the Property Address unless Borrower has designated a substilute no;lice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's cha?.ge of address.~lf Lender specifies a procedure for reporting Borrower's change of addri~'ss, then Borrower Shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Inst~'ument at any ;one time. Any notice to Lender shall be given by delivering it or by mailing it by first cla.~,.' mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, th,6 Applicable Law requirement will satisfy the corresponding requirement under this Se£L, rity Instrument. 16. Governing Law; Se~,~erability; Rules of Construction. This Security Instrument shall be governed by federal law'and the law of the jurisdiction in which the Property is located. All rights and obligation.,;' contained in this Security Instrument are subject to any requirements and limitatior,.,; of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree 5y contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Ins~'rument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflictin!~ provision. As used in this Security nstrument: (a) words of the masculine gender shall mean and include corresponding neLl{er words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copyofthe Note. and of this Security Instrument. :~ 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Propelly" means any legal or beneficial interest in the Property, including, but not limited ,'to, those beneficial interests transferred in a bond for deed, contract for deed, installme'r~t sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If allor any part of the P'operty or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest Jn Borrower is sold or transferred) without Lender's prior writiE:n consent, Lender may require immediate payment in full of all sums secured by this SecllJ"ity Instrument. However, this option shall not be exercised by Lender if such exercise is F:irohibited by Applicable Law. If Lender exercises this o3tion, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section '::~ within which Borrower must pay all sums secured by this Security Instrument. If Bol-rower fails to pay these sums prior to the expiration of this period, Lender may invok'e, any remedies permitted by this Security instrument without further notice or demand o~'i Borrower. SWYI3 Rev 11/06/00 Page 13 of 18 Inilial FORM ;3051 1101 0 000 : 19. Borrower's Right to Reinstate After Acceleration. If BorroWer meets certain conditions, Borrower shell, haVe the right to haVe enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Noie as if no acceleration had occurred; (b) cures any defaull of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reaso;l~ble attorneys' fees, property inspection and valuation fees, and other fees incurred for th~ purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such aclion as Lender may reasonably require to assure that Lender's nterest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged Lerd~r may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument ard ob igations secured hereby shall remain fully effective as if no acceleration had occurred However, this right to reinstate shall not apply in the case of acceleration under Sectifn 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (tog~..ther with this Securily Instrument) can be sold one or more times without prior notice to Bd,rrower. A sale might result in a change in the entity (known as the "Loan Servicer")that cfdl~cts Periodic Payments due under the Note and this Security Instrument and perform~ other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale o( the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer. the address to which payments should be made and any other information RESPA requi-es in connection with a notice of transfer or servicing. If the Note is s~ld and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage lean servicing obligations to Borrower will remain with the Loan Servicer or be transferre.~l ~,to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor L~.~nder may commence, join, or be joined to any judicial action (as either an individual litigant or 1he member of a class) that arises from the other party's actions pursuant t© this Security Instrument or that alleges that the other party has breached any provision ~f, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender' has notified the other party (with such notice given in Compliance with the requirements ol. L~ection 15) of such alleged breach and afforded the other party hereto a reasonable period arter the giving of such notice to take corrective action. If Applicable Law provides, a time period which must elapse before certain action can be taken, that time period w Il'be deemed to be reasonable for purposes of tl~is paragraph. i /,,~, SWY14 Rev 12/27/00 Page 14 of 18 Initials:'~.~ FORM 3051 1/01 The notice of acceleration ;md opportunity to cure given lo Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy 1he notice and oppo!'tunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances deft?ed as toxic or hazardous substances, pollutants, or was[es by Environmental Law and thL~ following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and la,vs of the jurisdiction where the Properly is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental CCadition" means a condition that can cause, contribute to, or otherwise trigger an Environment Cleanup. Borrower shall no1 ca'ese or permit the presence, use, disposal, storage, or release of any Hazardous Substance~ or threaten to release any Hazardous Substances, on or in the Property. Borrower shall qot do nor allow anyone else to do, anything affecting the Property (a) that is in ¢iolation of any Environmenta Law, (b) which creates an Environmental Condition o~'(c) which due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply Io the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to norma residential uses a~rd to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptl./ give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulator'/ authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necess~ry remedial actions in accordance with Environmental Law. Nothing herein shall cre.ate any obligation on Lender for an Environmenta Cleanup. NON-UNIFORM COVENI~',ITS. Borrower and Lender further covenant and 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 Security Instrument (but not prior to acceleration ur~der Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days fron~ the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice, shall further inform Borrower of the right to reinstate after acceleration and the right Io bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment SWY15 Rev 10/25/00 : Page 15 of 18 Imlials: FORM 3051 1/01 i o ooo: ; ' 3 4 0 In full of all sums secured by this Security Instrument wifhout further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all ex3enses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the per;;on in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds ~1 ~.he sale shall be applied in the following order: (a) to all expenses of the sale, including, bu! ~ot limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Securi!y Instrument. Borrower shall pay any recordation cosls. Lender may charge Borrower a f9,9 for releasing this Security Instrument, but only if the fee is paid to a third party For serf/roes rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. SWY16 Rev 10/25/00 Page 16 of 18 Imtlal~ FORM 3051 1/01 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider execuled by Borrower and recorded with it, Witnesses: I~I~h,~TH C. CALL (Seal) Borrower SWY17 Rev 12/27/00 Page 17 of 18 Initials: FORM 3051 1/01 STATE OF WYOMING, LINCOLN County ss: The [oregoing instrJmentwas acknowledged be[ore me this JUNE 9, 2004 KENNETH C. CALL, UNMARRIED cou,~o, ~ "s~^~'~o, [ M~ Commission [xpires: ~:~/~ ~ Notary Public by $WY18 Rev 10/25/00 Page 18 of 18 Imllals:~ FORM 3051 1 iol 090002:2 043 PREPAYMENT RIDER 0138158852 THIS PREPAYMENT RIDER is made this ....9..t.h. ........ day of ....J..U..N...E. .................. .2..0..0..4. ..... and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security E.'~ed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to ........................... i .................... ........................ .W...E..L..L..S....F..A..R...C.O....B..A...N..K.,...N.:.A.... ........................................ , ................................... of the same date and cove, ring the Property described in the Security Instrument and located at: ................................................. ,, (Property Address) PREPAYMENT COVENANTS. In addition to the covenants and agreements made in the Security Instr.ument, BorrOwer and Lender further covenant and agree as follows: I have the right to m,~ke payments of principal at any time before they are due. A prepayment of all of ~'he unpaid principal is known as a "full prepayment." A prepayment of only part of the unpaid principal is known as a "partial prepayment." Except as provided'~~ below, I may make a full prepayment or a partial prepayment at any time' without paying any penalty. However, if within the first ..t..h.r..e..e.... (...3...) year(s) after the execution of the Security Instrument I make full prepayment, I will pay a pYepayment charge in an amount equal to the payment of six (6) months' advance interest, at the interest rate provided for 'under the Note, on the amount prepaid which is In excess of twenty percent (20%) of the original principal amount. Prepayment Rider (AL, AZ, CA, CO, CT, DI:, FL, GA, H, IO, IN, KY, MA, ME, MT, ND,.NE, NH, NV, NY, O,K, PA, SC, SE), TN, TX, UT, WA, WY) (Page I o1' 2) EC180L Rev. 09/04/03 0:900Oh:h} · .'7, BY SIGNING BELOW, Borrower accepts and agrees to the terms contained in this Prepayment Rider. KENf~TH C. CALL 0138158852 and provisions (Seal) -Borrower Prepayment Rider (AL, AZ, CA, CO, CT, DE, FL, GA, I-tl ID, IN, KY, MA, ME, MT, ND, NE, NH, NV, NY, OK. PA, SC, SD, TN, TX, UT, WA, WY) (Page 2 of 2) EC180L Rev. 09/04/03 Schedule A 0.~00(}~ ;" 3"~ 5 Lot Nine (9) of Block Thirty (30) First Addition to the Town of Kemmerer, Lincoln County, Wyoming as Cescribed on the official plat thereof