HomeMy WebLinkAbout900307 ~,l-.b~-I "./~f D
LltqCO(..!q !:v',l ~!.~T':'. C:L_EF?K
Washington Federal Sa, vings
Yellowstone Office~
PO Box 2677
Pocatello~ ID 83206-2677
[Space Above This Line For Recording Data]
Southwest Title Cmhpany, Inc. File tt FA 11902 OM
MORTGAGE
DEFINITIONS
Words used in multiple sections of this document are defined below alld other words are defined in
Sections 3, 11, 13, 18, 20 and 21. Cer'm. in rules regarding the usage of words used in this document
are also provided in Settlor. 16.
(A) "Security Instrument" means this document, which is dated June 17 th, 2004 ,
_ , together with all Riders to this document.
(B) 'qJomwef' is Scott J Stewart and Marcile Stewart Borrower is
the mortgagor under this Security Instrument.
(C) "Lendexa' is Washington Federal Savings Lender is a
Federally Chartered 3avings and Loan AssociationOfg~Z~d a~qd existing under the laws
Of The United States. Df America . L~ndcT'saddr¢ssis
500 N. Capital Ave., Idaho Falls, ID Lender is the mortgagee under ~Js Sccu~ty
Instrument. 83402
(D) "Note" means the ~:onfissory note signed by Borrower and dated , ,
. TheNote states flmt Borrower owes Lender One Hundred Thousand And No/100S
Dollars (U.S. $.. 100,090.00 ) plus interest. Borrower 'has promised to pay this ,debt in
regular Periodic Payment~ and to pay the debt in full not later than Ju~y 1st, 2034
(E) "Property" means me 3roperty that is described below under the heading "Transfer of Rights
in the l:~perty."
(In') "Loma' means the ct:bt'evidenced by the Note, plus interest, any prepayment charges and late
charges due under the Note, and all sums due under this Security Insmmaent, plus interest.
(G) "Ridersn means air Ridem to this Security Instrument that are executed by Borrower. The
following Riders are to be executed by Borrower [check box as applicabl, e]:
WYOMIHG..SiaIJ~ p~eub,..l'eea~e .~r~adle .~ UNIFORM
Form
UOI Ilpale I ~/ Id~dlesl
0:1) "Applicable Law" means all controlling applicable federal, state and local statute, s, regulations,
ordinances and administrafiv~e rules and orders (that have the effect of law) as well as all applicable
final, non-appeflable.judicial opinions.
{'I) "Com. muni'ty A.gsoctae[on Du~ Fees, and ~ments" means all dues, fees, assessments and
other charges that are imposext on Borrower or the Property by a condominium association,
homeowners association or hmilar organiza6on.
(J) '"Electronic l;'unds Trmmeer'' means any transfer of funds, other than a transaction originated
by check, draft, or similm' paper instrument, wlfich is initiated through an electron/c terminal,
~elephonic instrument, computer, or magnetic rape so as to order, instruct, or authorize a financial
insfitu6on to debit or credit an account. Such term includes, but is not limited to, point-of-sale
transfers, automated teller raaclaine transactions, transfer~ initiated by telephone, wire u-ansfers, and
automate~l clearinghou se u ansfers.
(K) "Escrow Items"' mea:~s those items that are described in Section
(I.,) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or
proceeds paid by any third party (other than insurance proceeds pa/d under the coverages described
in Section 5) for: (i) damage-, m, or destruction of, the Property: (ii) condemnation or other taking of
· 'all or any part of the Prope ~rty; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations
of, or omissions as to, the vai!ue and/or condition of the Property.
(Mr) "Mortgage In.~ur-~nce" means insurance protecting Lender against the nonpayment of, or
default on, the Loan.
(N) "Per/odic Payment" i.mha, ns the regularly schedulM amount due for (i) principal and interesi
under the Note, plus (ii) any amounts under Section 3 of this Security Instrument.
(0) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its
implementing regulation, R:egulation X (24 C.F.R. Part 3500), as they might be amended from 6me
to time, or any additional or, successor legislation or regulation that governs the same subject manet.
As used in this Security [n:~trument, "RESPA" refers to all requirements and resu-ict/ons that are
imposed in regard to a "federally related mortgage loan" even if the Loan does not qualifY as a
"federally related mortgage~ loan" under RESPA,
(P) "Successor In Interest of Borrower" means any party that has taken tide to the Property,
whether or not that party h,'ts 'assumed Borrower's obligations under the Note and/or this Security
Instrument.
TRANSFER OF RIGHTS lin THE PROPERTY
Tiffs Security Instrument secttres to Lender: (i) the repayment of the Loan, and all renewals,
extensions and modificatio!:ts: or' the Note; and (ii) the performance of Borrower's covenants and
agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby
mortgage, grant and convey m Lender and Lender's successors and assigns, with power offS, the
~OMi'~G-.$it~lc Fimil,v--IFAs, ni~ M~','~ddl* M~ UNIFORM INSTRUMENT
forru.MSl l/Ol Cparr 2o[16p~t,jJ
:: , : ::j
following dc-xc'rib~ property located in the
Lincoln
[Name of R~or~g lurisdiction]
Cou t OSOOiiOV
[Type of Recording lurisdiction]
Lot 9 of Bear Cra~k Estates Subdivision Second Filing, Lincoln County,
Wyoming as described on the official plat filed November 29, 2001 as
Instrument No. 877i628 of the records of the Lincoln County Clerk.
of
which C~T~lfly ha~ the ~ddress of 41 Bear Creek Estates Drive [Sm:et]
?hayne ,Wyoming 8 312 7 · ("Propca~ Address"):
{City} [Zip Cote]
TOGETHER WI.TH all the improvements now or hereafter erected on the property, and all
easemma~ appunmaances, and fixtures now or hereafter a pan of the Property. All rrplac, ements and
additions ~ ~ be ac,voted by this Sextu-ity Insa'ument. All of th~ foregoing is referred to in this
Security Instrument as the "Property,"
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed
and h~ the right m morq~age, grant and convey the Property and that tl~ Property is tmencumbeted,
excc-pt for encumbrances of tm:ord. Borrower wammts and will defend gtmerally the title to thc
Property against all cla5~ a~ demands, subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-
uniform covenants with Emited variatioas by jurisdi~on to c. xm~tute a uniform security insmunem
cove.ring r~ property.
UNIT-'O~ COVENANTS. Borrower and lender covenant and ague as fallows:
1. Paymeat of lh,inelpal,' Inttrz~ Escrow Itema, P~payment Charges, and Late
Clxnrgea, Borrower shall Fay when duc thc paSncip~! of, a. nd interest on, the debt evidenced by the
Note and any pn:payra~tt charges and late charges due tmdt:r the No~e. Borrower shall also pay
funds for Escrow Iu:ms I~Uaat to Section 3. Payments due under the Note and this Security
Instnammt shall be mack ir~ U.S. currency. However, if any check or other instrument received by
Lender as payment under' thc Nou: or this Security Instnunent is returned to Lender unpaid, Lead~r
may require that any or ail subsequent payments due under the Nott: ',tad this Security lnsmunemt be
mad~ ia or~ ~ mae of the following forms, as sclecmd by Leto:let:. (a) cash; (b) money order:
(c) cranifi~ chtx:k, bank ck~c:lc, treasurer's check or cashier's check, provick:d any such cht. ck is
Lender may requi~ th~: Community Associ~on Dues,
drawn upon an instimtion:'whosc depos~ aoe insured by a federal agency, instrumentality, or entity;
or (d) Electronic Funds Transfer.
Payments axle dec'reed received by Lender when received at the location designated in the
Note or at such other lo~:adon as may be designated by Lender in accordance with the notice
provisions i.n Sex:don 15 Lender may return any payment or partial payment if the payment or
partial payments are inst'~.fficient to bring the Loan current. Lender may accept any payment or
partial payment insufficii':nt to bring the Loan curmnk without waiver of an), rights hereunder or
pn:juciice to its rights to 'cruse such payment or partial payments in the furu. re, but Lender is not
obligatz~cl to apply such p~,/ments at the ti. me such paymenLs ~ accepted. If e_ach Periodic Payment
is applied as of its scheduled duc date, then Lender need not pay interest on unappiied funds. Lender
may hold such un~pplied funds until Borrower makes payment to bring the Loan cu_,-~nt. If
Bogower does not do so ~,ithin a reasonable period of time, Lender sh. aJl either aFply such funds or
return thorn to Borrower.. If not applied earlier, such fund~ will be applied to the outstanding
principal bd~ncc und~ '.he Note immcdiat~y prior to foreclosure. No offset or claim which
Borrower might have now or in the futur~ against Lender shall r~lieve Borrower from making
payn-w, ncs duc: under the. Note and this Security Instrument or performing thc covenants and
agrr. ements SectL,~ by this Security I.n.summent.
2. ApptJcatioa o~: Payments or Proceeds. E.x~pt as otherwise described in this Section 2,
all payments accepted and applied by Lender shall be applied in the foUowing order of priority:
(a) interest duc under thc Note; Co) principal due under the Note: (c) amounts due under Section 3.
Such payments shall be a4~plied to each Periodic Payment in the order in Which it became due. Any
remaining amounts shall b: applied first to lam charges, s ~econd to any other amounts due under this
Sectu'ity Instrument, and 'Ji~n to reduce the principal balance of the Note.
If Lender re. ceive; a payment from Borrower for a delinquent Periodic Payment which
includes a sufficient amount to pay any lam charge due, the payment may be applied to the'
delinquent payment and the hr- charge. If' more than one Periodic Payment is outstanding, Lender
may apply any payment t~:ceived from Borrower to the rt'payment of the Periodic Payments if, and
to the extent that, each p~?yment can be paid in full. To the extent that any excess exists after the
payment is applied to thc.: full payment of on~ or mon~ Periodic Payments, such cxccss may bc
applied to any late charg¢.s clue. Voluntary pn:payments shall be applied first to any pr~paymcnt
ch~ge:s and then as cl~cr.l:~l in the Note.
Any appLicatio, h of payments, insurance proceeds, or Miscellaneous Proceeds to principal
due under ~ Note shall ~,ot extend or postpone the due dat~, or change the amount, of the Periodic
Payments.
3. Fundq for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments
an: due under the Note, ur~tfi] the Note is paid in full, a sum (the "Funds") to provide for paYment of
amounts due for:. (a) tax~'i:i and assessments and other items which can attain priority over this
Security Immament as a li~:n or encu. mbmnce on the Property: Co) leasehold payments or ground rants
on the Property, if any: (c~~ .premiums for any and all insurance required by Lendcr under Section 5;
and (d) Mortgage Insuran:e premiums, if any, or any sums payable by Borrower to Lender in Lieu
of the payment of Mortgaite Insurance premiums in accordance with the provisions of Section 10.
These iter~ arc called "E~r. row Imray." At origination or at ~y time during the term of the Loan.
Fees. asu:! Assessments, if any,
be cscrowcd by Borrow ~', and such dues. fees and assessments shall Ix: an Escrow Item. Borrower
shall pron:tlxly furnish tc Lender all notices of amounts to be pa/d under this Sect/on. Borrowe~ shall
pay Lender the Funds ~' Escrow Items unless Lender waives Borrower's oblig~on to pay the Funds
for any or all Escrow [tt'r. rts. Lender may waive Borrower's obligation m pay to Lender Funds for
any or ~11 Escrow Items a~[ any time. Any such wa/ver may only be in writing. In the event of such
waiver, Borrower shall pq d/recfly, 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 mid to provide receipts shall for all purposes be
deemed to be a covenant and agreement contained in this Security Instrument, as the phrase
"covenant and agreemect:" is used in Section 9. If Borrower is obligated to pay Escrow Items
directly, pursuant to a w~i'~,er, and Borrower ~a/ls to pay the amount due flor an Escrow Item, Lender
may exeax:ise its rights u'qder Section 9 and pay such amount and Borrower shall then be obligated
under Section 9 to repay tt~ Lender any such mount. Lender may revoke the waiver as to any or all
Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocafon,
Borrower shall pay to Lender all Funds, and in such amounts, that am then required under this
Section 3.
Lender may, ar ar.y time, collect and hold Funds in an mount (a) sufficient to permit Lender
to apply the Funds al the time ~T~x:ified under RESPA, and (b) not to exceed the maximum amount
a lender can require under;RESPA. Lender shall estimate the amount of Funds due on the basis of
current data and reason:sble estimates of expenditures of future Escrow Items or otherwise in
accordance with Applicable Law.
The Funds shall ix: held in an institution whose deposits are in. sm'ed by a federal agency,
in.sm, tn~tality, or entity (i ~cluding Lender, ff Lender is an institution whose deposits am so insured)
or in any Fedm'al Home [.om Bank. Lender shall apply the Funds to pay the Escrow Items no later
than the fi.me specified usLder RESPA. Lender shall not charge Borrower for hold/ng and applying
the Funds, anmudly analyfing 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 ,;a/ting or Applicable Law requires interest to be paid on the Funds, Lender
shall not be required to psy. Borrower any interest or earnings on the Funds. Borrower and Lender
can agree in writing, hmve,,,er, that interest shall be paid on the Funds. Lender shall give to
Borrower, without charge:, an annual accounting of the Funds as required by RESPA.
ff' there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account
to Borrower for the exce:s funds in accordance with RESPA. If there is a shortage of Funds held
in escrow, as defined'under RESPA, Lender shall notify Borrower as required by RESPA, and
Borrower shall pay to Le'j~der the amount necessary ro make up the shortage in accordance with
RF__qPA, bur in no mom fha3 12 monr. Ny payments. II'them is a deficiency of Funds held in escrow,
as deft.ned under RESPA,Lender shall notify Borrower a.s required by RESPA, and Borrower shall
pay to Lender the amoum necessary to m,dce up the deficiency in accordance with RESPA, but in
no more than 12 month.lyipayments.
Upon payment in 1RII of all sums secured by this Security Instrument, Lender shall promptly
refund to Borrower any F%'ads held by Lender.
WYOM/~lG-&buflc Family-g~a~l~ ~,i~:Vlrr*~ldk: Ma< UNTFO 9,.,'~ 1HST~uMP'?,JT
--054
4. Cluwge~; Lief:cs. Borrower shall pay 'all taxes, assessment:s, charges, fines, and
impositions ~tributable to"ff, e Property which can attain priority over this Security Instrument,
leasehold payments or grom)ff rents on the [hq:~_rty, if any, and Community Association Dues, F~s,
aru:l Assessments, if any. T.!). the extent that these items am Escrow Items, Borrower stroll pay them
in the manner providea:l in ~;ecfion 3.
Borrower shall pron)p'.ly discharge any lien which has priority over this Security lnsmmaem
unless Borrower:' (a) agree~s', i'n. writing to the payment of the obligation secured by the lien in a
manner acceptable to Len'dek, but only so long as Borrower is performing such agreement;
(b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings
which in Lender's opinion *operate to prevent the enforcement oft. he lien while those proceedings
are pending, but only until sm:~h procet~ngs 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 o? t~he Property is subject to a lien which can attain priority over this
Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the
dine on which rtmt notice is '.gl ~en, Borrower shall satisfy the lien or take one or more of the actions
~:t forth al:rove in this Section, 4.
Leader may require Bo.rrower to pay a one-dine charge for a real esrar,- tax verification and/or
reporting ser-,4ce used by L~nder in connection with th.is Loan.
5. Pro~rty Insur~ni:t. Bon-ower 'xhall keep the improvements now existing or hereafter
erect~ on the Property instated against loss by flu'e, hazards included within the term "extended
coverage," and any other hVz~_rds including, but not limited to, earthquakes and floods, for which
Lender requires insunmce. '~['hJs insurance shall be maintained in the amounts (including deductible
levels) and for the periods lhat Lender requires. What Lender requires pursuit to the preceding
sentences can change during the term of the Loan. The insunmce career providing the insurance
shall be chosen by Bormwel.' subject to Lender's right to disapprove Borrower's choice, which right
shall not be exercised unreaT"°~?ably. Lender may require Borrowe~ to pay, in connection with this
Loan, either. (a) a one-time',?harge for flood zone de:term/nation, cemfic_afon and tracking services:
or ('b) a one-time charge for flood zone detemfinafion and certification services and subsequent
chatge~ each time remapp,m4ls or similar changes occur which rv2sonably might affect such
determination or certificafitn, Borrower shall also be responsible far the payment of any fees
imposed by thc Fe_-deral Ernerg,:ncy Management Agency in connection with the review of any flood
zone determinafi~ resulting from ~n objection by Borrower.
If Borrower fails to: maintain any of the coverages described above, Lender may obtain
insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to
purchase any pm,'ticular typ~ or mount of coverage. Ther~ore, such cove~ge sh~ cover Lender
but might or might not pro ~u~ Borrower, Borrower's equity in the Property, or the contents of the
Property, against any risk, h.~ard or liabili~ and m. Jght provide greater or lesser coverage than was
previously in effect. Borm'~,er acknowledges that the c~t of the insurance coverage so obtained
might .d, gnificanfly exceed the}cost of insurance that Borrower could h~ve obminr_,d. Any amounts
disbursed by L~nder under t~: Section 5 shall become additional debt of Borrower secured by this
Security Instrument. These a'n;:)urrcs shall bear interest at the Note rate from the date of disbursement
~d sh~ll be payabl~ with sficl'i interest, upon notice from Lender to Borrower requesting payment.
All inauxancc poilic[es required by Lender and r~newaJs of ~uch policies shall be subj'cc£ to
Lender's right to cl~t)v~.- such policies, shall include a standard mortgage cia_usc, and shall name
Lender ~s mortgagee ~d/or as an additional loss payee. [_aznder shall h~vc thc right Io hold the
p, olici~ and renewal cea'fi_tqlcates. [f Lender requJ_~es, Borrower shall promptly give to Lender all
aeceiptx of paid p~-efrfiums a.,~d renewal notices, ff Borrower obtaSas any furm of insurance coverage,
not otherwise required by' '.Lender, for da.rnagc to, or destruction of, the Proper~y, such policy shall
includ~ a s~mdard moc~.~gc clause ~nd shall n. am~ Lender ~ mortgagee and/or ax an additioru~l loss
payee.
In the event of loss.Borrower shall give l:n~ompl not/ce to the insurance c0xrler ~d Lender.
Lender may make pxt:~f of loss i.f not made promptly by Borrower. Unless Lender and Borrower
othe~,~ise agree in writing, any insurance prt~.eeds, whether or not the underlying ins~ was
requim~ by Len&r, shall be applied m restoration or reff~' of the Property, i.f the restoration or repah'
is economically feasible ~n.:l Lender's security is not lessened. During such mp~ and restoration
.l:~iod, Lender shall have the fight co hold such irtsu~ance proceeds until Lender has had ~
opportunity to inspect ~uch l:'rope~ m ensure the work has been completed to Lender's s~sfaction.
provided that such i~spea..~cn shall be u. ndermken promptly. Lender may disburse p~ds for the
repfirs and restoration in a single payment or in a series of progress payments as the work is
complete. Unless an a~eement is made in wxitmg or Applicable Law re,quires interest to be p~fid
on such instwance proceeds, Lender sh~ll not be requ. Lred to pay Borrower any interest or earnings
on such l:m::~e~s. Fees fff [mblic ~jusr. ers, ~ other thi. rd patties, ret, xinet by Borrower shall not be
paid out of the insurance proceeds and shall be t.be sole obligation of Borrower, I/' the restoration
or ~ is not economic~dly feaxible or Lender's security would be lessened, the insurance proceeds
shall be applied to the su~tns,secured by this Security Instrument, whether or not then due, with the
excel, [f ~, paid to Bo~xower. Such insurance [:m:~ceed~ shMl be ~pliex:l in the order provided for
in Section 2.
ff Borrower ab~do'ns the Property, Lender may file, negod&te and .settle any av~lable
insurance clakn and relatM matters, ff' Bon'ower does not respond within 30 days to a notice from
Lender that the in~w~nce carrier has offered to settle a claim, then Lender rn~y negotiate and .~mle
the claim. Th~ 30-diy l:/exi0d will begin when the notice is given. In either event, or if Lender
acquires the Property t~ndex S<fion 22 or otherwise, Borrower hereby assigns to Lender
(a) Borrower's rights to ~m)' insu. ra.nce proceeds in an ~rnount not to exceed the amounts unpaid
under the Note or this SeLzmity Instrument. and (b) any other of Borrower's rights (other than the
right to ~y ~fund of unca. rned l:u'emiu, ms p~id by Borrower) under all insurance policies covering
the Propen'y, insofax as sr~ch;.rights are applicable m the coverage of the Property. Lender n:~y use
the insurance proceeds ei'thef to repdr or restore the Property or to pay amounts unpaid under the
Note or this Security Inst:;'ument, whether or not then due.
6. Occupancy..Borrower sh.xl.I occupy, establish, ~ use the Property as Borrower's
principal residea:u:e withi~ 60, ~ys after the execution of ~s Security Instrument and shall continue
to occupy the Property as Bt~rrower's pri. ncipal residence for ~ lea~t one yo~ after the.date
of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably
withhe, ld, or unless exten~a~ng circumstances exist wkich are begond Borrower's control.
7. Pre~rvatton. ,~dnten~nce and Pro,on of the Property; Ins~ons. BorrOwer
shall not d~troy, dan:mg'~ or impair tl~ Property, allow the Prope~ t~ detefior~ or commit was-re
l~q(Ol,~llNC;--Sht~lc p~I~l),-f~hr l~lrvr~li( M~ UNITORM DI,s'r~t/M ~vN'Y
.... 356
on ~he Prop~rtT. Wh~th~r ~ not Bon-ow~r ~s ~si~ng ~ ~c ~. Bo~ow~r s~
~y m ~d~ ~ prey:hr ~e Pr~ny from &~no~fi~ ~ d~g in val~ due to its
~fion. U~s it is &~,r~n~ ~t ~ S~fion 5 ~t ~ ~ ~fi~ ~ not ~o~y
f~ib~, B~wer ~1 ~?mpfly rep~ ~c ~ ff ~aged m avoid f~ &mfio~ion
~. ~ ~~ or ~n&~on p~s ~ p~d in ~on wi~ ~ ~ ~ ~ ~g
.of, ~ ~. Bo~ower ~ ~ inscribe for mp~nng or r~tofi~ ~e ~ o~
h~ ~1~ ~s for' such p~s. ~nd~ may ~sb~e ~ f~ ~e
msm~on in a single ~,~t ~in a ~fies of pro.ss paymen~ ~ ~ wo~ is compleX, ff ~e
~~ ~ ~nde~fi~ ~s ~e not su~cient to ~ or ~sm~ me ~, Bo~w~ is
n~ ~jev~ of Bo~wer'S ob~g~on for ~ completion of such ~p~ or ~o~
~der or i~ agent,~y m~e ~n~le en~s u~n ~d Ms~ons of ~e ~. If
it h~ ~~le c~. ~n~ ~y ins~ ~e Jnt~or of ~e i~rove~nu on ~ ~,
~ ~ ~ve Bo~owec nofi~ ~ ~e time of or prior to ~uch ~ intefi~ ins~fion
such ~o~ble ca~e.
8. ~ow~s ~ Ap~fl~ Bo~ower sh~l ~ in &faMt if, d~ng
applic~ ~ms, Bo~ow~ or any ~<s or ~ufi~ <~g ~ ~e ~on of Bo~w~ ~ wi~
Bo~w~'s ~owl~ge ~ ~)nsent ~ve mammy fflse, ~lea~g, or ina<~te ~o~afion or
~~ m ~ (or ~.IM m Vo~de ~ wi~ ma~fifl i~o~on) M co~cfion
~~y of ~e ~ as Bo~w~'s pfincip~ resident.
9. ~~ of l)~'s In~t ~ ~ Pro~y a~ ~ Under thl~
~~ ff (a) Boa'S'er fMls m ~o~ ~ ~ve~n~ ~d ag~me~ con.ned in ~is
S<~ Ms~en~ ~) ~e is a leg~ p~ng ~t ~ght si~c=fly ~e~ Len&r's in--st
in ~e ~ ~Wor figh;~ ~d~ ~s S<~ty ~ent (such ~ a p~~ in b~ptcy,
~ for ~&~ t~ ~ffei~ ~r enf~m~t of a lien whi~ ~y a~n ~ofi~ ov~
S<~{y ~ent or m ~20~ ~ws or ~gu~ons), or (c) Bo~ower h~ a~ned ~e ~,
~ ~n&r ~y do ~d pay f~ w~mv~ is ~nable of appropfia~ m prot<t ~r's inm~t
in ~ ~ ~d fi~ und~ ~s ~ Ms~ i~ludMg pmecfing ~or ~ssi~ ~e
v~ue of~ ~, ~d ~g ~Wor m~fi~ ~ ~p~. ~nd~'s ~o~ c~ ~clu~, but
~e n~ ~ to: (a) pa~fg ~y s~s ~d by a rich which h~ pfiofi~ over ~i~
~~ng ~) ~g i~ ~; ~d (c) paying ~ble a~meys' ~s m pm~ i~ interest
~ ~e ~ ~or fig~,e~ ~r ~is S~ Ms~ent, ~clu~ iu ~u~ ~sifion in
~pey pr~~. Se~:~,~ ~e ~ incl~es, Mt is not ~ ~ en~g ~e ~o~
m ~e ~ c~ge 1o,~]=, mpl~ or ~d up ~rs ~d window,;, ~n wa~ ~m pi~s,
e~na~ ~ng ~ ~er ~Me fiolafio~ ~ d~mus con~fi~s, ~d ~vc ufi~fies tum~ on or
off, Al~o~ ~ ~y ~ake <fion ~ ~s S~ 9, ~d~ d~s not ~ve m ~ so ~ is not
~d~ ~y du~ ~ obfig~o,~:m do so. It is a~ ~at ~n&r inc~ no ~bi~ for not ~ng ~y
or ~ <fions ~~ un.~ ~s S~on 9.
~y ~o~ ~$bu~ ~ ~nd~ und~ ~s S<fion 9 ~1 ~o~ ~fion~ debt of
Bo~w~ ~ by ~s S<~ Ms~ment. ~e~ ~o=~ ~hMl ~ Mt~st at ~e No~ rate
~m ~e ~te of ~sb~'.~t ~d sh~l ~ pay~le, wi~ such in--st u~n notice ~m ~der
Bo~wer ~ue~fing ~ymer~t.
O' ."- -'
[fd~s Sex:unt7 [~ sn-tm~cu[ is on a lea.~hold. Borrower shal/comply with ~ll the provisions
of the lea. s~. If Borrows:;' .,~qukres fee rifle to the Property, the leasehold and the fee fide shall ncc
merge unless Lendm' agre~ts to the merger in writing.
10. Morlga~ lnm~ram:e_. Ir'Lender required Mortgage Insurance as a condition ofmakin8
thc Loan, Borrower shall pay the premiums r~quiz~ to mainta-m the MQrtgage Insurance in eff~t.
ff. for any re:axon, the Me,gage Inxurance coverage required by Lender ceases to be available
the mortgage insurer tha~ previously provided such insurance and Borrower was rcqun"ed to make
separazely designated pa)mu:nts toward the pr~miurn.; for Mortgage Insurance, Borrower shall pay
the premiums required lo obtain coverage substantially equivalent to the Mortgage insurance
previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage
Insurance pn:viously in: effect, from an alt~rnaze mortga~ insurer selected by Lender. If
'~ubs[andally equivalent Mortgage [nsttrance coverage is not available., Borrower shall condnue
pay to Lender the amount of the s~parazely designated payments that wer~ due when the insurance
c. overage ceased to be iff ,.~rcct. Lender will accept, use and retain these payments az a non-
refundable loss reserve ip. lieu of Mortgage Insurance. Such loss rese..r~e shall be non-refundable,
notwithstanding the fact t~.~ the Loan is ultimately paid in full, and Lender shall not be requin:d to
pay Borrower any i.ntcrest or ea. rnJngs on such loss reserve. Lender can no longer requir~ loss reserve
paymertm if' Mortgage lnsu:'ance coverage (in the amount and for the period that Lender requkrcs)
provided by an insurt= ~l,~;'a:d by Lender again becomes available, is obtained, and Lender requ. ims
separately designated payfnenrx toward the premiums for Mortgage [nsm-ance. l.f Lender requLrt:d
Mortgage Insurance az a Condition of' making the Loan and Borrower was required to make
s~par-amly designated payments toward the premiums for Mortgage Insurance, Borrower shall pay
the premiums ~d to mai'main Mortgage Insurance in effect, or to provide a non-refundable loss
reserve, tmdl lender's r~tt,.irement for Mortgage [n.surancc ends in accordance with any written
agreement between 15ka-rc.v,'cr and Lender providing for such termination or tmdl tLm:ninafion is
required by Applicable l..~'.ff,' Nothing in this Section 10 al%ets Borrower's obligation to pay interest
az thc rate provided in dxNote.
Mortgage Insu. ra.nee reimbttrses Lender (or any entity that purchases the Note)/'or certain
losses it may incur if' Bono,~,er does not repay the Loan as agreed. Borrower is not a party to the
Mortgage Insurance.
Mortgage insurers evnlua~e theh' total risk on ~1 such insurance in ~orc~ from time to time,
and may enter into agreemeats with other parties that share or modify their risk, or reduce losses.
These agreements are on u~n'ns and conditions .that are satisfacto~ to the mortgage insurer and the
other party (or pa~e~) to tlaes~ agreements. These agreeanencs may require the mortgage insm'ec to
make payments using any so.srce of funds that the mortgage insurer may have available (which may
include fut~ds c~tainod fromMortgage Insurance premiums).
As a rtsult of thesi~ ;~greements, Lender, any purchaser of the Note, another insurer, any
reinsurer, any other enEtY,.0r,any affiliam or' any of the foregoing, may receive (directly or indirectly)
amounts that derive fi'om (or might be characterized as) a portion of Borrower's payments for
Mortgage Insurance, in exc~ha~ge for sharing or modifying the mortgage insurer's r/~, or reducing
lo~ses. If such agreemern ?rovides that an affiliate of Lender takes a share of the insurer's ris~ in
exchange for a ~hare of the prt~tmas paid to the insurer, the arrangement is often termed "captive
reinsurance." Further: '
(a) Any such ag~.emcnt~ will not a~ect the amc)oats thai Borr~ower has agr't-~ to pay
for Mortgage Iasur'ance~ or any other t~rras of the Loan. Such agr,eemeats will not increase
the amoont Borrower wall owe for Mortgage Iasutnmce, ~d they will not entitle Borrower t~
any refund.
(b) Any such agrt~xnents will not affect the rights Borrower has - if any - with respect
to the M~ortgage Iasaa'a~-e under the Homeowner~ Protection Act of 19~)8 or any other law.
These rights may Include the right to receive certain dLsc_losure~, to requ~,l and obLain
c. aacdlation of the Moctgage In.sttrance, to have the Mortgage Insurance tet-mlmtted
automatically, and/or tO'ir~ceive a refund of any Mortgage Insurance premiumg that were
unearned at the time of ~.~h cancellation or termlnat|on,
11. A. ssigrtmea! oit~,Ml:scdlaneous ~; Fm-feRare.. All Misced/aneous Proceed~ are
hereby a~signed to and Sh~Lq be paid to Lender.
If the Property i.s damaged, such Miscellaneous Proceeds shall be applied to restoration or
r~-paic of the Prol:~--rty, if t~c restoration or repair is economically feasible and Lender's security is
not lessened. Dtu'ing such repair and restoration po'iod, Lender shall have the ~ght to hold such
Miscellaneous ProceSs ut~'il Lender has had an oppor~-urtity to inspect such Prope~y to ensure the
work has been completed r~ Lender's sa6~faction, provided t. hat such inx-pec6on sha/] be uadertaken
pfompdy. Lender may pay fo~ the ~p'ai~ and reiteration in a single disbta'~ement or in a series of
progr~s payment~ a.s the ~ork i.s complete. Un. le~ an agreement is ma~e in writing or AppLicable
Law requi~s interest to be ~aid o~ such Ntisce..l/am~Us Proceeds, Lander shall no~ be reqtd.,-ed ~o pay
Borrower any interest or ea~ings on such Miscellaneous Proceeds. If the rcstoraxion or repaix is not
economicat/y feasible or L~nder's secu~ty would be lessened, the Miscella.neou.s Proceeds shaJ] be
applied to the sums secure:l by 'dLis Sec~t'y Iasa'umeat. whethe~ or not then due, with the exccas,
it'any, paid to Bor~wex. 'Such Miscellaneous Proceeds shall be applied Lq the order provided for
ia Section 2.
Ia the eve. at of a t~tai tat'lng, dest~c6oa, or loss in vaJu¢ of the Propet't-y, the MisceLlaneous
Ptoc. ee~ shall be applied b~.ithe sums secured by this Security Insa-ument, whethc'-r or not then due,
with the excess, if any. pai'~t to Borrower,
~n the crc:ut ora p~ia.l taking, destruction or loss in v~ue of the Property in which the fair
m~k~t value of the Propers/immediately before the pa. r6aJ taking, des~ction, cu' loss in value is
equal to or gre~ater than th~: amount of the sums secured by this Security Instrument immediately
befor~ th~ partial taking, d~tr~6on, or loss in value, unless Borrower-and Lender othat~ist: agree
in wri6ng, the sums sex:tu-~.~:l by this Security Instrument shall be t~duced by thc amount of the
Miscellaneous ~ rr'.td6plied by the following f~ctioa: (a) the total amount of the sums
secured immediately be£ore~the pa~ial taking, desa-uct, ioa, or loss in value divided by (b) the fair
market value of the Prope~/~i. rm'nediamly before the par6a] taking, destruction, or loss i.n value. Any
balance shall be paid to Bo~owex.
In the evict ora part. al taking, destructio~ or loss in value of the Property in which thc fair
market value of the Pwper'~, immediately bcforo the partial taking, destruction, or loss in value is
les~ than the amount of the sums st:cure~d ixnmediately before the pax'del taking, desk:ruction, or loss
in value, unless Borrower arid Lender other'wise agree in writing, the Miscellaneous Proceeds sh,~ll
be appLied to the sums sec~:x.ed by this Security l. nsl:t-u~ent wh~thcr or not the sums axe then due.
If the Property is abandoned by Borrower, or if, after notice by Lender to Bor~wer that thc
Opposing Parry (as defLae~:l! ia the next seatence) offe.~ ta m~_lc~ an award to settle a claim for
WYOM[NG-.Sm.(lc Fan~'~).--Jt~semb M~l~r~6dJa Ma~ U~P.M I'NST~,U~E.NT
Form
Id01 flirt tO o/16 ~tr~/
damages. Borrower faih ~:o respond [o Lcnck:r within 30 days after thc date the notice is g/yen,
Lender is authocizeA to coJJect and apply the Miscellaneous Proceeds either to restoration or mpai.r
or' the Property or to th~'sums secured by ~is £ecuncy Iasn'mmcnk whether or not then due.
"Opposing Party" mcam the third party that owes Borrower 5,6scellaneous Proceeds or the parry
against whom Borrower hks a right, of action in regard to Miscetlancous 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 thc ProperD, or other material impairment
of' kendcr's iatr_xest in ~: i.:koperty or rights under this Security h~sa-ument. Borrower can cure such
a default and. i.f accelerati'o;n has occu.,Ted, reinstate as provided in Section 19. by causing thc action
or prcr. eeding to be dism~s~sed with a ruling that. in Lender's judgment, precludes forfeiture of the
Property or other ma_reriM impairment of Lender's intcrest in the Property or rights under this
Security Instrument. Thc ?roceeds of any award or cl,~m for damages that are attributable to the
impairment of Lm~der's imerest in the Property are hereby assigned and shall be paid to Lender.
All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall
be applied in the o~er pro'*idcd for in Section 2.
1Z. Borrower Not' Released; Forbearance By Lender Not a Waiver. Extension of the
time for payment or modi~'.cation of amortization of the sums secured by this Security Insn-ument
granted by L~nder to Bono.wet or any Successor in Interest of Borrower shall not operate to releas~
the liability of Borrower or any Successors ia Interest of Borrower. Lender shall not be required to
commence proceedings asai~t any Successor in Interest of Borrower or to rt:fusc to extend time for
payment or otherwis~ mocfi!q/ amortization of the sums secured by this Security Instrument by reason
of any demand made by the original Borrower or any Successon in Interest of Borrower. Any
forbearance by Lender iv exercising any right or rem~y including, without limitation, Lender's
acceptance of pa~ts.from third persons, entities or Successors in Imerest of Borrower or in
amounts less than the arnquat then due, ~tll not be a waiver of or preclude the exercise of any fight
or rem~y.
13. Joint and Se'~eral Liability; Co-signers; Successors and A..asi~ Bound. Borrower
covenants and agrees that Borrower's obligations and tiabiliry shall be joint and several. However,
any Borrower who co-sigus this Security [~trument bm docs not execute the Note (a "co--signer"):
(a) i.s co-si~ning this Sec,,.fty Instrument only to mortgage, grant and convey the co-signer's intrrest
in the Property under the t.~ms of ~s Security Instrument; (b) is not personally obligated to pay the
sums secured by this Sec!~ty Instrument: and (c) agrees that Lender and any other Borrower can
agree to extend, modify, k~focar or make any accommodations with regard to the term~ of this
Security Instrument or th,~ !~om without the co-signer's consent.
Subject to the pro,, iMons of Section 18, any Successor in Y. ntm'est of Borrower who assumes
Borrower's obligations ur;d~:r this Security Instrument in writing,' and is approved by Lender. shall
obtain all of Borrower's rl.ghts and benefits under this Security Insmament. Borrower shall not be
released from Borrower's" 6bligations and liability under th/s Security Instrument unless Lender
agrees to such release in wr:iting. The covenants and agreements of this Security Instrument shall
bind (e~ccpt ~ provided i'n ~,~ctioa 20) and benefit the successors and assigns of Lender.
14. ~ Charge+.. Leader may charge Borrower fees for .~,wices performed in coanection
. with Borrower's default, I0:' the purple of proa~cting Lender's interest in the Property and rights
under this Security Inswm'nc, nt, inclading, but not li.ntted to, attnrneys' fees, property impcction and
valuation fees. In regag' :o any other fees, the absence of express authm'ity in this Security
W¥OMl~G--$ia~l~ F*mtl~'-J'~a*~: ~,ta~'vu~t~a ~ UI~'ORM II~STItUML~T
1101 (P~X¢ Il o[1~
o oo, ao "':""
I. mstvument to cl~rge a sp.:'cific fee lo Borrower shall not bc construed as a prohibition on the
ctmrging of such fee. Lencer m~y not charge fees that are expressly proh/bited by tiffs Security
Instrument or by Applic~b!e Law.
If the Loan is subj~.qt to a law which sets rn~xLrnuem loan cha_q;es, and eh~ law is finally
interpreted so that the intere:st or other loan chm-ges collected or to be collemed in connection with
the ~ exceed the permi~-ed limits, then: (a) any such 1o~ charge shaJl be reduced by the amount
nex:essary m re. duce the ct?a'ge to the permitted limit; and (b) any sums already collecle_d from
Borrower which exceeded ;l:,enn. iued limits will be refunded to Borrower. Lender may choose to
make this refund by reclu~i~g the principal owed under the Note c~ by making a direct payment to
Borrower. ifa refund reduces pr/.ncipaL the reduction will be u-e. ated as a partial prepayment without
'any prepayment ch,~rge (whether or not a prepayment charge is provided for under the Note).
Borrower's acceptance of ;u~y such refund made by direct payment to Borrower will constitute a
waiver of any right of acfior. Borrower might h~ve arising out of such overt:harge.
15. Notices. ALI r~otices given by Borrower or Lender in connection with this Security
Instrument must be in writini'g. Any notice t~ Borrower in connection with this Security Insmament
shall be deemed to have bcz'a given to Borrower when mai. led by f'u'~st class mail or when actually
delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall
constitute notice to ~ Bott)wets unless AppLicable Law expressly requires otherwise. The notice
adch'~ s~hall be the Prope..rty!Addre..ss I. Lrdess Botmower h~ designated a substitute notice address by.
notice to Lender. Bonower shall promptly nerdf'y Lender of Borrower's change of ~ldrexs. If Lender
specifies a procedure for reiSorting Borrower's change of address, then Borrower shall only report
a change of address th. rough', that specified procedure. There rt~y be only one designamd notice
address ,,nde:r this Sex:urit3' lnsmament at any one time. Any notice to Lender stroll be given
by delivering it orby rn~li11~g it by fin-st class mail to Lender's address stated herein unless Lender
has designated mother addre.~s by notice to Borrower, Any notice i.n connection with this Secu.ri~y
Instrument shall not be dee~,ne:d to have been given to Lender until aetuMly received by Lender. If
any notice rr, quis~l by th3:s. Security Instrumem is also required under Applicable Law, the
Applicable taw requireme'!t~t will s~sfy the corresponding requirement under this Security
Instrument.
16. Govevni~g La~!; ,Sev~vabillty; Rules of Comitvuction. This Secu_4ty lsLsnmment shall
be governed by federal law ~'nd the law of the juzis~Liction in which the Property is lc~c~tecl. All rights
~nd obLig~ons conminecl in t.~is $ectu'ity Instrument are subject to any requ. irement~ and limitations
of Applicable Law. Applic"=ble Law might explicitly or implicitly allow the pa,-ties to agree by
contract or it might be sile'r,t, but such silence sh~ll not be construed as a prohibition against
~greement by cont. n~--t. In I:h¢ event that any provision or clause of this Security Insm.~nent or the
No~e cotffl.icts with AppLic~)~e Law, such conflict shall not affect other provisions of this Security
Insm.m-,ent or the Note whit'k can be given effect without the confliu-fing provision.
As used in ti:Lis Seci?ity Instrument: (a) words of the masculine gender shall mean and
include coaesponding neute?.worcls or words of the femin, i.ne gender; Co) words in the xingu, l~r shall
mem~ and inc:lude the plunfl: a~d vice versa; and (c) the word "may" ~ves sole discrezion without any
oblig~on to take any action.
17. Borrower's Copy. Borrower Shall be given one copy of the Note and of tiffs Security
'I~trument.
-/11
18. Tr~_ttsfer (ff the l~roperty or a Beneficial Interest in Borrower. As used in this
S~-'don 18, "[nter~s~ ih the F~pe~ty" meatus ~my lcg~J or beneficial interest in me Prolz~rW,
includS, ng, bu~ nm limit,~ to, those bcncfidal mtcrescs Lam~ferroJ irt a bond for dc~l, o0ncr-~ for
deed. installment s~fles .:c~ntra~-t or escrow agreement, the intent of which is the transfer of dale by
Borrower ~t ~ future c~;e to ,~ p~chaser.
ff ,11 or o. ny p~n c,f the Property or ~ny Interest in the Property is sold or tranxferred (or if
Borrower is not ,~ mmwol person and a beneficial mu:mst m Bon-ower is.sold or transferred) without
Lender's prior written c0t~sent, [..~nder may requ. ue immediate payment in full of all sums secured
by this Socu. rity [n~trtunet,t. However, this option shall not be exercised by l_~nder if such exercise
is prohibimd by Applica~ble Law.
If Lende.r exercise~i this op6on, Lender shall give Borrower notice of acceleration. The notice
shall l:n'ovide a period o£ra:~t less than 30 days from the dzte the notice is given in accordance with
Section 15 within which Borrower must pay all sums secured by this Security Instrument. If
Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
remedies permitted by t~i~g Security h~strument without further nodce or demand on Borrower.
19. Borrower's Right to Reinstate A_eter Acceleraflom If Borrower meets certain
conditions, Bctrrower ~h~dl have the right to have eaffox-cement of this Security Ins'trument
discontinued ar any fi. mc prior to the earliest of: (a) five days before sale of the Property ptcrsuant to
any power of sale contab~d in this Security Instrument; Co) such other period as Applicable Law
might specify for the t~rrdnazion of Borrower's right to reinstate; or (c) entry of a judgment
enforcing this Security Instrument. Those conditions axe that Borrower: (a) pays Lender all sums
which then would be due. trader.this Security [nsmament and the Note as if no acceleration had
occun~; Co) cures any default of any other covenants or agreements; (c)pays all expenses incurred
in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees,
p~ i~pecfion and ~:ial!uafion fees, and other fees incurred for the ptupose of protecting Lender's
interest in the Property a~td rights under this Security Insl:ru. ment; and (d) takes such action as Lende£
may teaS°nably requhe t~ assure that Lender's interest in the Property and fights under this Security
Instrument, and BorroW~.'x's obligation to pay the sums secured by this Security Instrument, shall
continue unchmaged. Le:~er may requ/te that Borrower pay such reinstatement sums and expenses
in one or more of the foll.~,ing forms, as selected by Lender: (a) cash; (b) money order~ (c) certified
cheez, bank check, treas,m~r's check or cashier's check, provided any such check is drawn upon an
imtitution whose deposita ~xe instuv..d by a federal agency, instrumentality or entity: of (d) Elecwonic
Ftmds Transfer. Upon re~inStatement by Borrower, this Security instrument and obtigadorts secured
hereby shall remaia fully effective as if no acceleration had occurmd. However, th.b fight to reinstate
sha]l not apply in the case pf acceleration under Section 18.
21). Sale o~' Not~ ~xange of Loan $emxi~ Notice of Grievance. The Note or a partial
inmre~t in the Note (togeth:er with this Securi~ Insmanent) can be sold one o~ more dines without
l~ior notice to Borrower. A sale might result in a change in the entity (known ~s the "Loan
Set-vicar") that coUeCts P¢]dodic Payments due under the Note and this Security Instrument and
performs other mortgage~ lban servicing obligations under the Note, this Security Insmament, and
Applicable Law. There ~1s° might be one or more changes of the Loan Servicer unrelated to a sale
of the Note. Il'there is a '~l:/ange of the Loan Servicer. Borrower will be given written nodce oft. he
change which will state ~..e name and address of the new Loan Servicer, the address to which
payments should be rnad~ ,~nd any other information RESPA requis'es in connection with a notice
~FYO.l~4**l~"4~.4kn. glo fl~lly..Fmu~ '~gF~,*~U,s M~' Ul'~lr~',{ [NS'I'Rt/~'N'T ~'ot~ 3,~1 Ual (p~.~¢/J ff14~.~,#)
of transfer of servicing. [[" thc No~ is sold and thereafter thc Loan is sewiced by a Loan Servicer
other than the purchaser ,cf the Note, thc mortgage loan servicing obligations to Borrowt~ will
remain with the Loan. Ser,;~ic~ or be transferred to a successor Loan Servicer and ave not a&sumcd
by the Note purchaser unl'c;s.s otherwise provided by the Note pttrchaser.
Nei. ther Borrower 't~or Lender may commence, join., or be joined to any judicial action (as
either an individual lidgat~t or the member of a class) that arises from the other party's act/ohs
pursuata to this Security .I.,3strument or that alleges that the other party has breached any provision
of, or any duty owed by ~:,'mson of, this Security Instrument, until such Borrower or Lender has
notified the o~er party (wLh such notice given in compliance with the requirements of Section 1:5)
of such alleged brea~ and ~n:nxted the other party hereto a reasonable peri°d after the giving of such
notice to take corre---'l:ive artion. If Applicable La*,, provides a time period which rnmst elapse before
certain action can be take,t, that time period will be deemed to be reasonable for pmq:,oses of this
paragra~. The notice of ~Ce. ler~ion and opporttmity to cu~ given to Borrower pursuant to Section
22 and the notice of accele~'~on given to Borrower pu~uant to Section 18 shall be d~med to satisfy
the notice and opportunity zo take corrective action provisions of this Section 20.
21. H-v-rdo~ Sl:~bstmaces. A.s used in this Section 21: (a) "Hazardous Substances" are
thoge substancez defined ~ toxic or ha~ardous subs~'w~es, pollutants, or wastes by Environmental
Law and the following sub:r~:ance:s: gasoline, kerosene, other flammable or toxic pet~leum products,
toxic pesticides and herbicides, volatile solvents, rnaxe, dals containing asbestos or formaldehyde, and
radioactive materials; (b)."Environmenud Law" means federal laws and laws of the jurisdiction
where the Property is !ocated that relate to health, safety or environmental protection;
(c) '~Environmental Cleanu ~" includes any response acfiort, remedial action, or removal action, as
defined in Environmen~ Law; and (d) an "Envi~'onmental Condition" means a condition that can
cause, contribute to, or od:!~:rwise trigg~ an Environmental Cleanup.
Borrower shall not cause or permit the presence, use, disposal, storage, or release of any
Hazardous Substances, or. fl~reaten to release any Hazardous Substances. on or in the Property.
Borrower shall not do, no(allOw anyone else to do, anything affecting the Property (a) that is in
violation of any EnvL,'onm~.ntal Law, (b) which creaxes an Environmental Condition, or (c) which,
due to the presence, use, c,r release of a Haz~dous Substance, creates a condition that adversely
affects the value of the Property, The preceding two sentences shall not aPPly to the presence, use,
or sto~ge on the Pxuperty of small quantifies of Ha:,an:lous Substances thax are generally recognized
to be 'appmprime to normal ~e~idential uses and to rrudnrenance of the Property (including. but not
limited to, hazanJous subsurfaces in constnner products).
Borrower shall pro~r~l:aly give Lender written notice of (a) any investigation, claim, demand,
lawsuit or other action by eny governmental or regulatory agency or private party involving the
Property and any HazardO;~s Substance or Environ. mental Law of which Borrower has actual
kno~vledge, (b) any Envirbnmental Conctifion, including but not limited to, a.qy spill.g, leaking,
discharge, rele.~e or threaticff release of any Hazardous Substance, and (c) any condition caused by
the preaenee, use or relea,'a: of a H,~zzrdotm Substance which adversely affects the value of thc
Properly. I.f Borrower learns, or is notified by any governmental or regulatory authority, or any
private party, that any rer~xoval or other remediafion of any Hazardous Substance affecting the
Property is necessary, B°tT':?wer shall prcmrpfly take all necess~D, remedial actions in accordance
with Environmental Law.. Nothing herein shall create any obligation on Lender for an
Environn~ntal Cleanup.
NON-UNIFORM COVEN,4aNT$. Borrower aad Lender thrt~r covemaat and agree as
foUows: , ,
22_ Accetera, th2~:; R,.,medics. Lender ~-~1 give uotice m Borrower prior t~ ~u_'ceh_wation
fo~lo~etng Borrower'~ birtach of ~ny covenant or agreement ia Ods Security In~wumcnt (but
not pr'loc ~ acceleration under Section 18 unless Applicable Law provide~ otherwise). The
notice ~ $peOfy-: (a)the delault; (b) the action required to eu're the default; (c) a date, not
ie~q than 30 days fi'om ibe date th~ notice is given to Borrower, by which tl~ default must be
cma:d; and (d) that failure to cazr~ the default on or befor~ tile date specified in the notice may
re:mit in ~c~leratlOn ot'itbe sams ~xau'~d by this Security Iamamaent ami sale of the Property.
The notice ~ l'urth~a~ tnfom Borrower of the right to reinstate after acceteratlan ami the
right to bring ~ eottrt :~'ction to ~ the non--extstenee of ~ ddault or ~.ay other defen~ of
Borrower to ~mel~ml2~o n iud ~atle. If the del'~tflt iq aol cured on or before the date
in the~ aottc~ l~n~ier at {~ option may require immediate payment in full of all mrna secur~
by rhlq ~ Inatrmn~t without further demamt and my Mvoke the power o{' ~ and any
Incurred in pormt~' the l~ provtdied in rhiq Section 22, including, but not limited
rtasolmble ~l-torneys' f~,e$ and costs of title evidence_
If Lender [nvoke:s the-power of sale~ Lendex shall give notice of intent to fored~e to
Borrower and to the ge~ tn posse~oa o1' the Property, ff different, in accordance with
Applkmble Law. Len~,e!r ~hall gt~e notice of the sale ta Borrower in the mam~r provided in
,$e~lon 13. L~mter ~Ju~ publish the notice ol' sale_, and the Property shaI1 be sold in the
manner prz~rtbed by .~ppllcable La~. Lender or lt~ ch~ign~ ma)' l~u'chase the Property at
a~y sale. The [woceeds,or the sale shall b~ applied In the following.order: (a) to all c.xpenses
the sale, includingo bm ,aot limited to, eeasonable attorneys' fees; (b) t~ all stuns secured by
Security !_nstrument; and (c) any excess m the person or persons legally entitled ta it.
23, ~' Upon paymeat of' all sums secured by tiffs Sexu,;ity I_astrument. Lendm' ,;hall
release rhi.q Security rnsa'umenc Borrower shal/pay any recordation costs. Lender may charge
Borrower a fee for relcafing this Security lnsm. tment, but only if the fee is paid to a third party for
sta-vices rendr_..rcd a. ad th¢ charging of thc fee is pe_rmi~ u. ader Applicable Law.
24, Wa/vets. B~xrower relea.s~ and wa, ivea all rights trader and by vimie of thc homestead
cxempdoa laws of Wyoming.
" 84
BY SIGNING BELOW, Bon'ower ~cept~ and agrees to th~,u:nus and coveua~us contained
in this Security [nstrun~in[ and ia a~y Rider ex~cutcd by Bocrower a~d recorded wi~h ii.
Scott 'S~war. t ' .
Borrower
[Spac~ Below This Line For Acknowl~ent]
STATE OF Idaho
COUNTY OF Bannock
I certify that I know or have satisfactory evidence that
Scott J Stewart and Marcile Stewart are the persons who appeared
before me, and said 'persons acknowledged that they signed this
instrument and acknowledged it to be their free and voluntary act for
the uses and purposes mentioned in the instrument.
Date: June 17, 2004
(Signature) ~
Notary Public in and for the State of
Residing at Pocatello
My Commission Expires 9/2/2009
Idaho
ADDENDUM TO UNIFORM DEED OF ,TRUST
Date: June 17th~ 2004
098 200 289439-2
Addendmn attached to and forming part of the Deed of Trust ("Security Instrdment") of even date by and
between
SCOTT J STEWART AND tvlAR. CILE STEWART HUSBAND AND WIFE
as Grantor/Borrower;
as Trustee; mid WASHINGTON FEDERAL SAVINGS as Beneficiary/Lender.
1, OCCUPANCY OF THE ['ROPERTY BY BORROWER.
There are two alternative covenants stated below which refer to occupmmy of the Property by the
Borrower, and only one altexlnative shall be a part of this Addendum. Lender has determined which
alternative is a covenant of th.s Borrower by checking below the appropriate box opposite the paragraph
immediately preceding the pat agraph Lender has determined to be applicableito Borrower, and Borrower
has agreed to this chosen alteraative by executing this Addendum to the Security Instrument and pursuant
to the terms of Lender's loan commitment.
Occupancy of Propertylby Borrower Required. Uniform Covenant 5 of the Security InstrUment
is amended by substituting the following language:
r
'Borrower shall occupy; establish and use the Property as Borrower'.,: principal residence within
sixty (60) days after the'. execution of this Security Instrument and shall continue to occupy the
Property as Borrower's principal resideuce for at least oue year after the date of occupancy, nnless
lender otherwise agre.es in writing and in its sole discretion; provided, however, that if the loan
evidenced by the Security Instrument is a 'custom' construction loan as defined by a Construction
Loan Agreement between Lender and Borrower, then Borrower shall begin to occupy, establish and
use the Property as Borrower's principal residence within sixty (60) days after receipt of Certificate
of Occupancy, or similar official document, from the applicable governmental authority, unless
Lender in its discretion agrees ~n writing to waive ,'my governmental requirement. Borrower
ackmowledges that Unifo':m CoVenant 6, as here amended, is required by Lender in consideration of
Lender extending Borr3wer an 'Occupancy Note Rate' which is less than the prevailing
'Non-Occupancy Note Rate'. If Borrower shall default on the' terms of occupancy as
stated above, Lender m~.y elect, at its option and notwithstanding any oiher terms of the Security
Instrument to the contrary, any of the following remedies: (a) Lender may accelerate the terms of
the Note and, upon fifteen (15) days notice, call the loan in~nediately due and payable in full, and if
Borrower fails to make payment in full, Lender may thereafter exercise any remedy permitted by the
Security Instrument, h~ci:uding suit on the Note or tbreclosure upon tl:e Security Interest and the
Property; or (b) Lende: may adjust the interest rate on the Note (and any tnonthly payment
occasioned by such adjustment) to Lender's 'Non-Occupancy Note Rate' which existed as of the
date of the Note and Seeurity Instrument and require further consideration tbr not calling the loan
immediately due va~d pa3 able, including but not limited to (i) having Borrower convey to Lender a
Famfie Mae Multistate 1~4 Family Rider (Assignment of Rents) and (ii) having Borrower pay any
amount of pnncipal on~ the loan necessary (if at all) to make the loan conform to whatever
loan-to-value ratio condi'ions Lender would have required of a 'Non-Owner-Occupied Loan' on the
Property as of the date of the Note and Security Instrument."
Occupancy of Property By Borrower Waived. Uniform Covenant 6 of the Security Instrument
is del eted.
2. ADDITIONAL SPECIAL COVENANTS.
A. Additional Advance(s)
This Security Instrument also secures the payment of any further sur~s advanced or loaned by
Lender to Borrower, or any of its successors or assigns, if (l) the Note or other writing evidencing
ti~e future advance or ioa~ specifically starcs fital it is ~ecured by th~s Sec n'ity Instrumcnt, or (2) t!:e
advance, including costs and expenses incurred by Lender, is made pursuant to this Security
Instrument or any other :~locuments executed by Borrower evidencing, securing, or relating to the
Note and/or the Collateral, whether executed prior to, contemporaneously with, or snbsequent to
this Security Instrument '~this Security Instrument, the Note and such cther documents, including
any construction loan, land loan or other loan agreement, are hereinaftel collectively referred to as
the "Loan Documents"),~ together with interest thereon at the rate set forth in the Note/xunless
otherwise specified iii the Loan Docutnents or agreed to in writing. Borrower's lnitials~_~/
LO41(ID} 06/30/03
OO00 qO?
Lender's Right of Accele~:-atiOn and Judicial Foreclosure.
Unitbrm Covenant 19 mid Non-Uniform Covenant 22 of the Security Instrument are amended by
the addition of the foll0u ing language, which shall modify the terms of Uuiform Covenant 19 and
Non-Uniform Covenant 2~:i to the extent set forth immediately below:
.!
"Borrower ackhowledges that the'terms and conditions of Uniform Covenant 19 and Non-Unitbrm
Covenant 22 are intende~lI to avail Borrower of certain notice and reinstatement rights if Lender
elects non-judicial foreclc;s!ure under its power of sale in the event of default, and that Borrower has
a statutory right of redem'ption protecting Borrower in the event of judicial foreclosure. Therefore,
notwithstanding an;,, proT~sion of Uniform r,
, ,~,vcnan, 19 and Non-Uniform Covenant 22 of this
Security Instrument, if l_ender, at its own option, elects to accelerate the Security Instrument by
commencement of judicial' foreclosure for any default or breach by Borrower, the Borrower shall
not have the right of reirSstatement or entitlement to certain notices as provided tbr in Uniform
Covenant 19 and Non-Uni:%rm Covemmt 22."
C. Reconveyance After Pakment of Loan in Full. Non-Unitbrm Covenant 23 of the Security
Instnnnent is revised to reqfl as follows:
"23. Release or Reconve'Yance. Upon payment of all sums secured by this Security Instrument,
Lender shall request Trustee to release or reconvey the Property and shall surrender this Security
Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee
shall release or reconvey i[~e Property without warranty to the person or persons legally entitled to
it. Such person or perso? shall pay any recordation costs and reasonable trustee's fee for release or
reconveyance." : t
D. Mandatory Flood Insurance for Property in Special Flood }lazard Areas. Unitbrm Covenants
3 and 5 are modified so as to add the following lm~gnage which affects both covenants:
"If the Property is now or shall ever during this loan be deterufined by the Federal Emergency
Management Agency (F[MA), or its successor agency, to be within a Special Flood Hazard Area
(SFHA), then to the exte:2[ flood insurance is available for the Property, Lender will require, upon
notice to Borrower of s~ch determiuation, that adequate flood insurance be maintained tbr the
improvements of the Property at Borrower's expense, and Lender shall be entitled to collect; as part
of the Funds defined under Covenant 3, and to the extent authorized by federal law and regulation,
"Escrow Items" (reserves)~for flood insurance prentiums; and if Borrower does not voluntarily pay
for the flood insurance as part of said Funds, Lender shall be entitled to obtain "tbrced place" flood
insurance coverage for the Property improvements and, in so doing, either capitalize the cost of
such coverage to the pri?ipal balance of the loan or apply the payment as a "negative reserve",
Whereupon Borrower shal~l be deemed to be in defimlt of this Security Instrument.
E. "Custom" Constructioff: Loans.
Fo
If this Security Instrument secures permanent financing to
construct or remodel a re;iiCential dwelling on the Property ("'custom' construction loan"), then the
Construction Loan Agree~nent & Assigmnent of Account signed by Borrower along with this
Security Instrument and"Addendum shall be incorporated by reference in and be a part of this
Security Instrument, and ahy default or breach by Borrower of the Construction Loan Agreement &
Assignment of Account shall Constitute a default or breach of this Security Instrument, thereby
entitling Lender to any mid all remedies allowed by the Security Instrument and applicable law for
such default or breach. ~
E-Z Pay Option. If Borrower elects the E-Z Pay option at the inception of this loan, then Lender
shall temporarily defer the ~two hundred dollar ($200) payment processing charge which is otherwise
due and payable in full at. ~:losing. However, if at any time, Borrower's E-Z Pay bank account has
insufficient funds to cover a payment when du.e, or if Borrower's E-Z Pay bank account is closed or
otherwise becomes unawti,able to Lender for the payment of the lornL or in the event Borrower
elects, at any time, to terminate the E-Z Pay option, then Lender may reinstate and demand the two
hundred dollar ($200) payment processing charge from Borrower in which event this charge shall
then be due and payable :in full. Lender Shall inforin Borrower of this election in writing and
Lender may, at Lender','; option, either require Borrower to pay the payment processing charge
within 10 days of receipt of written notice or add the amount of the charge to the remaining
principal balgnce of the h)an. If the charg~e is added to the loan, then it shall become additional debt
of Borrower 'secured by this Security Instrument and shall bear interest at the Note rate and shall be
payable in accordance wilih the terms of the Note. ~
(Page 2 of 3) kO41 (ID~ ~
'" $ 7
Hazard, Property, or Flood Insurance. Without affecting the language contained in Covenants 3,
5, and 7 of the Securit,, Instrument and paragraph D above, Borrower is advised as follows:
WARNING
Unless Borrower provides Lender with evidence of the iusurance coverage as required by the deed
of trust or loan agreenlent, Lender may purchase insurance at Borrower's expense to protect
Lender's interest. This. tnsurance may, but need not, also protect borrower's interest. If tile
collateral becomes dam~'.tged, the coverage Lender purchases may not pay any clai~n Borrower
makes or any claim mad,~ against Borrower. Borrower may later cancel this coverage by providing
evidence that it has obtained property coverage elsewhere.
Borrower is responsible for the cost of any insurance purchased by Lender. The cost of this
insurance may be added to the loan balance. If the cost is added to the loan balance, the interest
rate on the underlying lo'an will apply to this added amount. The effective date of coverage may be
the date the prior coverage lapses or the date Borrower fails to provide proof of coverage.
The coverage Lender purchases may be considerably more expensive than insurance Borrower can
obtain on its own and may no~ satisfy any need for property dan~age coverage or any mandatory
liability insurance requirements imposed by applicable law.
Late Charges and Otl~er Fees. Lender may, at Lender's option, either require Borrower to pay
any late charge for o~,e}'due payments or NSF/returned item fees related to any payments under the
Note, or add the amount of any such charges or lees to the remaining principal balance of the loan.
If these charges and/or fees are added to thc loan, then they shall become additional debt of
Borrower secured by 'this Security Instrument and shall bear interest at the Note rate and shall be
payable in accordance ~.ith the terms of the Note.
Assignment of the loan. If Lender transfers ~ts interest in or a right to receive loan payments
under the Note secured by the Security Instrument, this Addendum, or any part of it, may be
cancelled at the option of Lender and without advance nonce to Borrower, and Lender may make
and record any instru?nent, without signature of Borrower, which may be necessary to give record
notice of such cancelh,tion.
SCOTT J STEWART
(Page 3 of 3) 04'~08 0852 ~546 LO41 (ID)