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HomeMy WebLinkAbout90036830626 '04) ~ After Recording Return To: COUNTRYWIDE HOME LOANS, INC. MS SV-V9 DOCUMENT PROJESSING P.O.Box 10423 Van Nuys, CA 91410-0423 Prepared By.' MAX T. ALLEN 9 0 0 '3 6 8 RECEIVED ti h,I C 01. '~ /"~,,, ~, ,-r,,',, CLERK B OOK--~P,R PAGIS" 5~ilj [Space Al,eve This Line For Recording Data] HOFF [Escrow/Closing ~] MORTGAGE MIN 1000157'-0003789362-1 00005674528606004 [Doc ID ~ ] DEFINITIONS Words used in multiple section::, of this document are defined bel ow and other 'vords are defined in Seclions 3, 11, 13, 1.8, 20 and 21. Certain rides regarding the usage of words nsed in this document are also provided in Section 16. (A) "Securily Instrume,t" n'.eans this document, which is dated JUNE 15, 2004 , logether with all Riders I.O this documen, (B) "Borrower" is ROBERT T HOFF, AN UNM3~RRIED MAN, AND PAMELA d MOORE, AN UNMARRIED WOMAN Borrower is the morlgagor under this Secnrity Instnnnent, (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS ~s a separate corporation that is acting solely as a nominee for Lender and Lender's successom and assigns. MER,c is lhe mortgagee uuder this Security Instrtunent. MERS i:; organized and exislmg under the laws of Delaware, and has an address mid telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS (D) "Lender" is AMERICA'S WHOLESALE LENDER Lender is a CORPOFLATION organized and existing under th.'. laws of NEW YORK Lender's address is P.O. Box 660694, Dall:~s, TX 75266-0694 (E) "Nole" means the promis::ory uote signed by Borrower and dated JUI.IE 15, 2004 . The Note states that Borrower owes Lender NINETY TWO THOUSAND aqd 00/100 Dollars(U.S. $ 92,000.00 ) plus iuterest. Borrower has promised to pay this debt in regnlar Periodic Payments and to pay t:~e debt in fldl not later than JULY 01, 2034 (Ir) "Property" means the pr)perry that is described below under the heading "Transfer of Rights in the Property." WYOMING-Single Family-Fannie N;ae/Freddie Mac UNIFORM INSTRUMENT WITH MERS o,,, CNL VMP Form 31:)51 1/01 ~®-6A(WY) (00o5) (08/0~])(d) MORTGAGE FORMS- (8o0)521-7291 CONV/V^ * 2 3 9 9 1 * * 056745286000002006A* DOC ID #: 0000567452860600~1 (G) "Loan" memos the debt evk!enced by the Note, pins interest, any prepayment charges and late charges due under the Note, and all sums due nnder this Security Instmmenl, plus interest. (H) "Riders" means all Riders lo this Secm'ity hlstrumel~I that are execuled by Borrower. The following Riders ,'n~e to be executed by Bo:.'rower [check box as applicable]: · [---] Adjustable Rate Rider ~ Condominium Rider [---] Second Home Rkler ~ Balloon Rider [--] Phmned Unit Development Rider ~-] 1-4 Family Rider [--] VA Rider ~ !Biweekly Payment Rider ~] Other(s) [specify] (1) "Applicahle Law" means ,'ill controlling applicable federal, s(ate and local statutes, regulations, ordinances and administrative rt,!es and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opiniom:.: (J) "Comnm'nity Association Baes,'Fees, and Assessments" means all dues, fees, assessments and other charges that m'e imposed on Borrq~wer or the Property b'y a condominium association, homeowners associalion or sinfilar organization. (K) "Electronic Funds Transf ~,~"' means any transfer of flmds, other than a transaction originaled by check, draft, or similm: paper instrmnen,7, which is initiated through an electronic terminal, telephonic instalment, computer, or magnetic tape so as to order, instruct, or authorize a financial instilution 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 anto~naled clearinghouse transfers. (L) "Escrow Itmns'' means tho:;e items that are described in Section 3. (M) "Miscellaneo'ns Proceeds' means any compensation, setllement, award of damages, or proceeds paid by any lhird pm'ty (other than insura~'ce proceeds paid nnder the coverages described in Section 5) fi)r: (i) damage to, or destruction of, the Prope:t¢:,; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lien of condemmition; or (iv) misrepresentations of, or omissions as to, the valne and/or condition of lhe Property. ; ': (N) "Mortgage Insurance" m{:,.ans insurance protecting Lender against the nonpayment of, or default on, the Loan. (O) "Periodic pay~nent" meats the regularly sched,led amonnt d,e for (i) priocipal and interest under the Note, plus (ii) any amounts und,~:r.iSection 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its iniplementing regulation, Regular!on X (24 C.F.R. Pm't 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs Ihe same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan': even if the Loan does not qualify as a "federally related mortgage loan" 'tinder RESPA. (Q) "Successor in Interest of Borrower" means any p~ty that has taken title to the Property, whether or not that party has assumed ' ' ' Borrower 6: obhga,ons under the Note andTor this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secnr~_slto Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and ::(ii) the performance of Borrower's covenants mid agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Leiider and Lender's successors and assigns) and to the successors and assigns of MERS, wilh power of sale, the following described property located in the COUNTY Of LINCOLN · ]Type of Recording Jurisdiction] lName of Recording JurisdiclJon] THE EAST ONE-HAL~ OF LOT FIFTEEN' (15) IN LEON LIVINGSTON SUBDIVISION IN TOWNSHIP 37 NORTH, RANGE 118 WEST 6TH P.M., LINCOLN COUNTY, WYOMING. This is a 1st Real Estate Mortgage recording concurrently with a 2nd Real Estate Mortgage dj:ted 6/15/2004 in the original amount of $17,250.00. in favor of America~s"Wholesale Lender. Parcel ID Number: Wyoming 83128 [Zip Code] (~)®-6A(WY) (ooos) 247 WEST COTTAGE LANE, [StreelTCity] ("Prq perry Address"): CHL Page 2 of 1 1 which currently has the address of ALPINE Initials'~orm 3051 1/01 DOC ID #: 00005674528606004 TOGETHER WITH all theiimprovement~ now or hereafter erected on the property, and all easements, appurten~ces, and fixtures now !or hereafter a part of the property. Ail replacements and additions shall also be covered by this Security hntmment. All of the foregoing is referred ~o in this Security h~strument tls the "Property." Borrower understant~s and agrees that MERS holds only legal title to the interests granted by Borrower in .this SecuriW Instrnnient, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors ~nd assigns) has the right: to exercise aqy or all of those interests, including, but not limited to, the right to foreclose and sell Ire Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security htstrument. BORROWER COVENANTS that Borrower is lawfidly seised of tt~e estate hereby conveyed and has the right to mortgage, grant and: cgnvey the Property and that tl~e Property is.unencumbered, except for e,tcumbrances of record. Borr:)wer warrants and will defend generally the title to the Property :tgainst all claims and demands, subject to miy encumbrances of record. THIS SECURITY INSTRUMENT combines 'lmifornl covenants for natioual use anti non-uniform covenants with limited variations by jurisdiction lo constitute a uniform security iustmment covering real property. UNIFORM COVENANTS. Borrower "U~d Lender covenan! and agree as follows: 1. Payment of Principal, h:iterest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the priucip~il of, anti interest on, the deb~ evidenced by the Note and any prepayment charges aud late charges due un!der the Nole. Borrower shall also pay fimds for Escrow Items lmrsuant to Section 3. Payments due un(err tile Note and Ihis Security Insmm)eut shall be made ill U.S. currency. However, if auy check or od'mr instrument received by Lender as payment under d,e Note or this Security Instrmnent is returned to Lencer unpaid, Lender may require that any or all subsequent payments due under the Note and this Security lnstrtmtent be nmde in one or more of tl~e followiug forms, as selected by Lender: (a) cash; (b) lnoney order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an imtitntion, whose deposits are insured by a federal agency, instrnnmimdity, or entity; Or (d) Electronic Funds Frlmsfer. Payments are deemed rec~,:,4ed by Lender when received at tl~e location designated in the Note or at such other location as may be desigi{tied by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial paymeuts are insufficient to bring the Loan current. Lender may ac:~'eiSt any payment or partial payment insufficient to bring the Loan cmTent, without waiver of any rights hi}.reUnder or prejttdice to its rights to reft,se such payment or partial payments in the tilture, bat Lender is not ol>ligated to al)ply such paylnents ttt dte time such payments are a6cepled, if each Periodic Payment is applied t's of its scheduled due date, then Lender need not pay inlerest on unapplied funds. Lender may hold such urapplied fimds nntil Borrower makes payment to bring the Loan current, if Borrower does not do so within a reasonable period of time, Leuder shall either apply sllch fimds or return them to Borrower. If not appli~:d.earlier, such f~ands will be applied to the outstanding principal balance nnder the Note immediately prior to t'or~closnre. No offset or chfim which Borrower might have now or in the future against Lender shall relieve Bc. rrower fi'om making payments due uuder the Note and this Security lnsmmmnt or performing the covenauts m:d :lgreements secured by this Security Instrument. 2. Application of Pay~muts or Proceeds. Except as otherwise described ill this Section 2. all payments accepted and applied by Lender .:droll be applied in tile following order of in'iority: (a) interest due under the Note; (b) principal due under the Note; (c) amonnts due under Section 3. Sttch payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first late charges, second to any ntt?er amouuts due under this Sect,rity Instrument, :tad then to reduce the principal balance of tile Note. If Lender receives a payment froni Borrower for a delinquent Periodic Payment witich includes a sufficient amotmt to pay any l~ite: charge due, the payment may he applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply auy payment received fi'om Borrower to the repayment of the Periodic Paymenls if, and to tile extent that, each payment can be paid ill full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess :'may be applied to auy late charges due. Voltmtary prepayments shall be applied first to any prepaylnen :. cimrges and then as described in tile Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the alnount, of the Periodic Payments. 3. Funds for Escrow It~m:.i, Borrower shall pay to Lem'ler ou the day Periodic Payments are due under the Note, uutil the Note is paid :in. fl~ll, a sum. (the "Ftmds") to provide for payment of ammntts due for: (a) taxes and assessments and othe, items which can attain priority over this Security Instrument its a lien or e~tcumbrance on the Property; (b) leasehold payments or ground rents on lite Property, if any; (c) premiums for any and all insurance requi 'ed by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borro':,vei' to Lender in lieu of the payment of Mortgage Insurance preminrr~s in accordance with tile provision:;: o.f Section 10. These items are called "Escrow Items." At origination or at time during the term of the Loan, Lender may require that Commnnity Association Dues, Fees, and Assessments, if any, be escrov'et, by Bon'ower, and such dues, fees and assessments shall be an Escrow Item. Borrower sliall promptly fumi.':h in Lender all notices of amounts to be paid 'onder this Section. Bon'ower shall pay Lender the Funds for Escrow Items mtless Leuder waives Borrower's obligation to pay the Funds for any or 'all Escrow Items. Lender ma) waive Borrower's obligation to pay to Lender Fmlds for any or a ll~E,_spro~.~ "' i Initial (~®-6A(WY) (o005) CHL (08/30)!, Page a ofll LI Form 3051 1/01 DOC ID #: 00005674528606004 Items at any time. Any such waiver nqay only be in writing. In tile event of such waiver, Borrower shall pay directly, when and where paya)b:, the amounts due for any Escrow Items for which payment of Fnnds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evklencing such payment within such time period as Lend'-~:: may require. Borrower's obligation to mrdce such payments and to provide receipts shall for all pm'poses be deemed to be a covenant and agreement contained in this Security Instrument, as tile phrase "cove:~ant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pumuant ro a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights t:~'der Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to arty or all Escrow Items at any time by a notice gii~'en in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and iii S'~l~h amounts, that are then required under this Section 3. Lender may, at any time, ct,l!ect and hold Funds in ,'m amonnt (a) sufficient to permit Lender to apply the FUnds at the time specified und~ r RESPA, and (b) not to exceed tile maximum ammmt a lender can require under RESPA. Lender shall esti?ate the amount of Funds due on the basis of current data m~d reasonable estimates of expenditures of futu:'e Escrow Items or otherwise in acco,'dauce with Applicable Law. The Fnnds shall be held in ~'m institutiou whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply ;the Fr, nds to pay the Escrow Items no later thau the time specified uuder RESPA. Lender stndl not charge Borrower for boldmg 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 s'lSh a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on thc' ?nllds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Leto!let can agree iu writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, w:,thout charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of FunOs~ held in escrow, as defined under RESPA, Lender slmll acconnt to Borrower for the excess fimds in accordm~e widt RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall not'l!y Borrower as required by RESPA, ~mtl Borrower shall pay to Lender the amount necessary to make up tl~e shortage in accordance with RESPA, but in no more than 12 monthly payrnents. If there is a deficienci:,, of F-nuds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in uo more than 12 monthly payments. Upoil payment irt full of ali sums secured by this Security h~strument, Lender shall promptly retired to Borrower any Funds held by Lend'er. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attribmable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, mid Commu ;fity Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrowershall pay them in the manner provided in Section 3. Borrower shall promptly t',ischarge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing t.0 the payment of the obligation secured by the lien in a manuer accel)table to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien m good faith by, or defends against enforcement of the lien in, legal Proceedings which in Lender's opinion operate to prevent the enforcement of tile lien while tb:)se proceedings m'e pendiug, but only until such proceedings are concluded; or (c) secures front tile holder of the lien an agreement satisfactory to Lender'snbordinating the lieu to this Security Instrument. If Lender deternfines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying lhe lien. Within 10 clays of the date on which that notice ts given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrow~r to pay n one-time charge for a real estate tax verification nnd/or reportiug service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existiug or hereafter erected ou Ihe Property insured against loss b) 5fire, hazards included within lite tem~ "extended covernge," and any other hazards including, but not limi cd to, eartl~qunkes nnd floods, for which Lender requires insurance. This insurance, shall be maintained in ;the amounts (i,~cluding deductible levels) and for tile periods that Lender requires. What Lender requires 'mrsuant to the preceding sentences cnn change'during tile term of the Loan. The insurance cagier providing.the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised uureasonnbly. Lender may require Borrower to pay, in connection with this 1.oan, eitber: (a) a one-time charge for llood zone determination, certification and tracking services; or(b) n :me-tixne charge for flood zone determination m~tl certification services and subsequent charges each time "e.mappings or similar changes occur which reasonably might affect snell determination or certification. Borrower shall also be responsible for the payment of any fees imposed by file Federal Emergency Managemet.t Agency in connection with the review of any flood zone determination resulting from an objection by B )rrower. If Borrower fails to maix:~)&~ any of the coverages described above, Lender may obtain insurance coverage, at Lender's option andBorrower's expense. Lender is under no obligation to purchase nny particular type or amount of coverage. Tht~refore, such coverage shall cover Lender, but might or might not protect BorroWer, Borrower's equity in the Property, or tile contents of the Property, against any risk, hazed Initial ~®-§A(WY) (O00§) CHL (OS/0O~'' Page 4 of '11 L) Form 3051 1/01 bOO ID #: 00005674528606004 or liability and might provide gr,m.~er or lesser coverage Ihan was previously in effect. Borrower acknowledges that the cost of the insurance ~:c!verage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. An;y amonnts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amonnts shall bear interest at the Note rate from the date of disbursement alld s.h!dl be payable, with such interest, 'upou notice fi:om Lender to Borrower requesting payment. .: All insurance policies requ: red by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, slnqt include a standard mortgage clause, and shall name Lender its mortgagee and/or as an additional loss payee, Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall 'Pt.omptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not'otherwise required by Lender, for damage to, or destmcti°n of, the Property, snchl,policy shall include a standm'd mortgage chmse and shall name Lender as mortgagee and/or as an additional :loss payee. In ll~e event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not mad:,· promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insunmce proceeds, ,M~ether or not the underlying insurance was required by Lender, shall be apl)lied to restoration or repair Of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened'. During.. such repair and restoration period, Lender shall have the right to hold such insnnmce proceeds nntil L~mlder has had an opportunity to inspect such Property: to ensure the work has been completed lo Lender's sari;loc,ion, provided that such inspection shall be undertaken proml)dy. Leuder may disburse proceeds for the rcphirs and restoration in a single payment or in a seri. es ol' progress payments ils the work is completed. Unle~s .an agreement is made in writing or Applicable Law requires iuterest to be paid on such insunmce proceed-,~;Lender, shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for-public ~diusters, or other third Parties, retained by Borrower shall not be paid out of the insurance proceeds trod shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lenders: security would be lessened, tile insurance proceeds shall be applied to the sums secured by this Security irslrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds sh*dl be applied in the order provided fo,' in Section 2. if Bon'ower abm~dons the ':?roper,y, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower 6oes not respond within 30 days to a notice from Lender that the insnnmce c,'u:rier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires lhe Property ander Section 22 or otherwise, Borrower hereby ass!g:~s to Lender (a) Borrower's rights to any insunmce proceeds in an amonnt not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to an>; refund of unearned premiums paid by Bon'ower) nnder all insnnmce policies covering the Property, insofar a:; i;uch fights are applicable to tile coverage of Ihe Property. Lender may nsc the insurance proceeds either lo re'pair or restore the Property or to pay amonnts unpaid under tile Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shl;'ll occupy, establish, and nsc the Property as Bor,'ower's principal residence within 60 days after the execUt;oh, of this Security h~strument and shall Continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, nnless Lender otherwise agrees in writing, which couseut si'tall not be nnreasonably withheld, or unless extenuating circumstances exist whicl! are beyond Borrower's confiiol. 7. Preservation, Maintenai'~ee and Protection o1:' tile Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is resili~,tg in the Property, Borrower shall maintain tile Property in order to prevent the Property from deteriorating or :decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration.is not economically feasible, Borrower shall promptly repair the Property if damaged to aw)id fimher detcrigration or damage. If insurance or comle,nnation proceeds are paid in connection with damage to, or. tl!e taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs ,'md restoration in a single payment or in a series of progress payments as. the work is completed. If the insnnmce or.cgndemnation proceeds are not sufficient to repair or restore lhe Property, Borrower is not relieved of Bon: ~wer's obligation 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 cause, Lender may nspect the interior of the improvements ou the Property. Lender shall give Borrower notice at the time of o.' prior to such an interior inspection specifying such reasonable canse. 8. Borrmver's Loan ApPlie::ltion. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or wilh Borrower's knowledge or consent gave materiglly false, :nisleading, or inaccurate information or statements to Lender (or failed to provide Lender with material info?marion) in connectiOn with the Loan. Material representations include, but are not limited lo, representati~'~S concerning Borrower's occupancy or' the Property tls Borrower's principal residence. (~-6A(WY) (ooos) CHL (08/00) Page 5 of 11 ~ DOC ID #: 00005674528606004 9. Protection of Lender's i~!terest in the Property and Rights Under fids Security lnsinm~ent. If (a) Borrower fails to perform the C?enants and agreements contained in this Security Instrument, (b) lhere is a legal proceeding that might si~n::ficantly affect Leuder's interes{ in lhe Property and/or rights uuder Security Instrument (such as a ~proceeding in bankruptcy, probate, for condemnatiOn or forfeiture, for enforcement of a lien which m?ty attain priority over this Security Instrument or m enforce laws or regulations), or (c) Borrower h::~ abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to prolzc, t Lender's interest in the Property and rights under this Secorily Insmnnent, including protecting and/or assessing lhe value of the Property, m~d securing anger repairing the Property. Lender's actions can include, bm are not limited to: (a) paying any sams secured by a lien which has priority over this Security Insmm~ent; (b)' appearing in court; and (c) paying reasonable attonmys' fees to protect its interest in the Proper~ an~or 'ri(ghts under this Security Instrument, including its secured posidon in a ban~'uptcy proceeding. SecUring ~he Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or k~omd np doors and windows, drain water from pipes, eliminate building or other code violations or dange?e}~ conditions, and have utilities tamed on or off. Allhough Lender may take action under riffs Section 9, Lende? does ilot have to do so and is not nnder any duty or obligation to do so. It is agreed that Lender incurs no l}at?ility for not taking auy or all actions authorized under this Section 9. Any amounts disbursed by Dh~der under this Section 9 shall become additional debt of Borrower secured by this Security Insmm~ent. The:s~ mounts shall be~ iuterest at the Note rate from the date of disbursement and shall be payable, with such i ~l::rest, upon notice from Lender to Borrower requesting payment. If this Security h~stmment is:ion a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title tc lhe Property, the leasehold and the l~e title shall not merge unless Lender agrees lo the merger in writing. ~ ~ 10. Mortgage lnsnrance..II'~Lender required Mortgage Insurauce as a condition of making the Loan, Borrower shall pay the premium3 required to maintain' ihe 'Mortgage Insurance in effect. If, for any reason, the Morlgage Insurance coverage ~equired by Lender ceases to be awdlable from lhe mortgage insnrer dmt previously provided such insurquce ~d Borrower was required Io make separately designated payments towed the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivaleut to the M ortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of Ibc Mortgage ~Insurance previously in effect, from an tflternate mortgage insurer selected by Lender. If substantially equix~'fl~ent Mortgage Insurance coverage is not available, Bon'ower shall continue to pay to Lender the mnount of i ~e[ qep~m~tely designated payments that were due when the insurance coverage ceased to be in effect. Lender rill accept; use and retain these paymenls as a non-ret~ndable loss reserve in lieu of Mortgage insurance. Suci~ loss reserve shall be noo-rel~mdable, notwithstanding tl~e fi~ct that II~e Loan is ultimately paid in hall, and Len~Jer shall not be required to pay Borrower any interest or e;u~fings on such loss resmwe. Lender can no lo:)g.:r require loss reserve payments if Mortgage Insorance coverage (iu the amount and for the period that Leuder requires) provided by an insurer selected by Lender again becomes av~lable, is obtained, and Lender requires separately designated payments towm'd II~e Premiums lbr Mortgage Insurance. If Lender required l:.4eftgage Insurance as a conditiou of making the Loan and Borrower was required to make sep;~ately de.;ignated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to7 maintain Mortgage Insurance iu effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordauce wid~ rely written agreement between Borrower and Lendgr providing for such termination or until termination is required b'y Applicable Law. Nothing in this Section 10 aflJects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimbqrses Leuder (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay tl,]e Loan as agreed. Borrower is not a party to the Mortgage lusurance. Mortgage insurers evaluate their to~l risk on all such insurance m force from time to time, and nmy enter into agreements with other p~ties.that share or modil~ their ~Ssk, or reduce losses. These agreements ~e on terms ;md couditions that ~e satisfactory, to the mortgage insurer and the other p.arty (or parties) to these agreements. These agreements r:Tmy require the mortgage insurer to make payments using any source of flmds dmt the mm'tgage insurer may lla,],e available (which may include funds obtained fr0n! Mortgage Insurance premiums). As a result of these agreemeqts,. Lender, any purchaser of the Note, ~mother insurer, any reinsurer, auy other enti~, or any ~fffiliate of aw, of the foregoing, may receive (directly or indirectly) ~munts that derive from (or might be characterized as'' a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a shm'¢ 0f the insurer's risk in exchm~ge for a sht~e of the premiums paid to the insurer, the ~rangement is ofte, tem~ed "captive reinsurance." Further: (a) Any such agreements ~wi~l not affect the a~nounN that Borrower has agreed to pay for Mortgage Insurance, or any other terms'or: the Loan. Such agreements will nnl increase the amonnt Borrower will owe for Mortgage Insurance, i~:nd they will not entitle Borrower lo any rel'und. (~®-6A(WY) (oo05) CHL (08/0o) Page 6 ofll ," DOC ID #: 00005674528606004 (b) Any sncb agreement, i Will'not at'feet the righls Bur, rower has - if any - with respect to tlie Mortgage Insurance under th,.: l~omeowncrs Protection Act gl' 1998 or any uther law. These rights may include the right to receive ccri'.ain disclosures, to request and oblain cancellation of Iht Mnrlgage Insurance, to have the Mortgage:'Insnrance terminated autumatically, and/or to receive a relimd of any Mnrtgage Insurance premitma,,~ that were nncarned at the time uf such cancellalion or termination. 11. Assignment nf Miscelllmeous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to l'.:ender. If the Property is damaged:, s.!])ch Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if thc restoration or rc['hii:'is economically feasible and Lender's security is not lessened. During such repair and restoration period. Le~kdc. r shall have the ,'ight to hold such Miscelhme0ns Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection sh~dll be undertaken prolnptly. Lender may pay liar the repairs and restoration in a single disbursemeut or in a se:rid;,; of progress paymeuts as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrowe[ rely interesl or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasislei~ or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the snms secured by this Security Instnunent, whether or not then due, with the excess, if any, paid to Borrower. Sucb Miscelhqnegus Proceeds shall be applied in the order provided for in Section 2. in the event of a total lakiagi destnkction, or loss iu value of die Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrutnent, whether or not then tine, with the excess, if any, paid to Borrower. In the event of a partial tak ns, destruction,:or loss in value of the P,'operty in which the fair market value of the Property immediately before the partial taking, desh-uclion, or loss in wdue is equal to or greater than the amount of the stuns secured by this Security Instrument immediately before the partial taking, destruction, or loss in valt,e, unless Borrow;~r and Lender otherwise agree in writing, the sums secured by this Security histmment shall be reduced by t ~e amount of the Miscelhmeous Proceeds multiplied by the following fraction: (a) the total amount of the sums s?.cured immedialely before the pmtial taking, destruction, or loss in value divided by (b) the fair market wdue of the Property immediately before the partial takingl destn~ction, or loss in value. Any balance shall be p'fid to Borrower. In the event of a partial taking,· destruction, or loss in value of the Property iu which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately :,cf ore the partial taking, destrnctioa, or loss in value, unless Bon'ower and Lendeb otherwise agree in writing: the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the stlms fire then due. If the Property is abandoxf'ed bY 'Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sen:eh.ce) offers to make an award Io settle a claim for damages, Borrower fails to respond to Lender within 30 daTs ?flier tile date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds eil:'~ef to restoration or repair of the Property or to d~e SUlnS secured by this Security Instrument, whether o; nbt then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or tbe l~!y against whom Borrower bas a right of action in regard to Miscellaneous Proceeds. Borrower shall be in defa'a'lt;if: ., any action or proceeding whether civil or criminal, is begun ti,at, in Lender's judgment, could result in :forfeiture of the Property or otlier material impairment of Lender's iuterest in tbe Property or rights under this: Security Instrument. Borrower can cure such a default and, if acceleration bas occurred, reinstate as provide&in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, l:,recludes foffeitt, re of the Property or other material iml3airment of Lender's interest in the Property or rights ~,mder this Security Instrument. The proceeds of auy award or claim damages that are attributable tc th~ impairment of Lender's interest in d~e Property m.e hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds II, at ,are not applied to restoratioq or repair of the Property shall be applied in the order provided for in Sectio~ 2.] 12. Borrower Not Relezsed; Forbearance By Lender Nut a Waiver. Extension of the time l;or payment or modificatiou of amc:rti~:ation of the stnns secured by this Security Instn.unent granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of BotT0wer. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refi~se to exteud time for payment or otherwise modi:fy amortiz'ation of tike sums secured by this Securi ;y Instrument by reason of any demand made by tike original Borrower or any Successors in Interest of Borro,vek':. Any forbearance by Leoder in exercising any right or remedy including, without limitation, Lender's ac(eptance of payments fi'om third persoos, entities or Successors in haerest of Borrower or in aJnounts less tbau the amonnt then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Lil, bility; Cu-signciTs; Successors ?.nd Assigns Bound. Borrower covenanls and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Secm'ity Instrnmer t but does not execute tbe Note (a "co-signer") (a) is co-signing this Security (~;)®-6A(WY) (0005) CHL (08/00) Page 7 of 11 k.J'Form 3051 1/01 5 7 © DOC ID #: 00005674528606004 Instrument only to mortgage, gra ttland convey the co-signer's interest ill the Property under the terms of this Security Instrument; (b) is not pc'rs:!mally obligated to pay the stuns secured by this Security Instmnmnt; and (c) agrees that Leuder aud ~n~l~ iother Borrower can agree to extend, modify, forbear or make any accommodations with regard to.th?e terms of this Security h~strument or the Note without the co-signer's cousent. Subject to the provisions of:S~ction 18, any Successor in luterest of Borrower' who assumes Borrower's obligations under this Security In~:trhment in writing, aud is approved by Lender, sh',dl obtain all of Borrower's rights and benefits under this Sec:.lrlty Instrument. Bon'ower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instru'mCnt shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14, Loan Charges. Lender ~ay charge Borrower fees for services performed in connectiou with Borrower's defimlt, for the pnr[.ose of protecting Lender's interest in the Property and rights nnder this Security Instrument, including, but!not linfited to, attorneys' fees, property inspection ~md valuation fees. In regard to any other fees, the absenci: of express authority in tliis Security Iustmment ~o charge a specific fee to 'Il Off Borrower shall not be construed ~ss~ prohibition the charging of such fee. Lender may not charge fees that are expressly prohibited by this S ':fierily Instrument or by Applicable Law. If the Loan is subject to altBi which sets maximum loan charges, and that law is finally interpreted so that the interest or other lom~ cl'.arges collected or to be cOllected iu counection with the Loan exceed the permitted limits, then: (a) any smh .loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) an5, slims already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender. n~tay choose to make this refund by reducing the principal owed under the Note or by making a direct pay~n;,:ni, to Borrower. If a refund reduces principal, the reduction will 'be treated as a partial prepayment witho'ul any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acSeptance of arty such refund made by direct payment to Borrower will constitute a waiver of any right o{' a~tion Borrower might have ,'u'ising out of such overcharge. 15. Notices. All notices given', by Borrower' or Lender in conuection with this Security Instrument must be in writing. Any notice to iBorro'wer ill connection with this Security Instrmnent shall be deemed to have been given to Borrower when ~miled by first class mail or when actually delivered to Borrower's notice address if sent by other means. N6tice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requ res otherwise. The notice address shall be the Property Address uuless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of '4ddress. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall onl? rzport a change of address through that specified procedure. There may be only one designated notice addre :s trader this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mi,ilSng it by first class mail to Lender's address stated herein unless Lender has designated another address by n:otice to Borrower. Arty notice in connection with this Security hmtrument shall not be deeined to have beer given to Lender until actually received by Lender. Il' any notice required by this Security Instrument is also [~:q~fired under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement ur der this SecUrity Instrument. 16. Governing Law; Sevel.ability; Rules of Construction. This Security Instmmeut shall be governed by federal law and the law of t'le'jurisdiction in which the Property is located. All rights and obligations contained in this Security Instnmtent are subjeOt to any requirements and limitations of Applicable Law. Applicable Law might explicitly o(iimplicitly allow tim parties to agree by contract or it might be silent, but such silence shall not be constl,~e~l as a prohibition against agreement by contract. In the event that any provision or clause of this Secur3tyh~strument or the Note conflicts with.Applicable Law. such conflict shall not affect other provisions of It:is Security Instrument or the Note which can be given effect without lhe conflicting provision. ' As used in this Security :ln!;tmment: (a) words of tile masculine gender shall mean and include corresponding neuter words or w.mls of the feminine gender; (b) words in the siugular shall mean and include the plural ~d vice versa; ,and ([:) ;he word "may" gives sole discretion without any Obligation to take any action. 17. Borrower's CoPy. Bor[~i!wer shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Prop~r:~y or a BenelScial Interest ill Borrower. As used in this Section 18, "Interest itl the Property" means an? legal or beneficial interest in tile Property, including, but not limited to, those beneficial interests trausfer:ed ill a bond for deed, contract for deed, instalhnent sales contract or escrow agreement, the intent of which is :th,~ transfer of title by Borrower at a future date to a purchaser. If all or any part of the Prop ~rr, Y or any Interest in the Property is sold or trausferred (or if Borrower is not a natural person and a benehcl~l tj~terest m Borrower is sold or lransferred) wtthont Lender's prior written consent, Lender may require in mgdiate payment ill full of ,'ill sums secured by this Security htstrument. However, this optiou Shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this 0l,tim~, Lender shah give Borrower nolice of acceleration. The notice shall provide a period of not less thai) 30 days from the date 'the notice is given in accordance With Section 15 within which Borrower must pa) a!l sums secured by this Security h~strt, ment. If Borrower fails to l)ay these sums prior to the expiration of,this period, Lender may invoke auy remedies permitted by this Security Instrument without further notice, or demand on Borrower. (~}®-6A(WY) (ooo5) cHL (o8/00) ': Initial ,. Page 8 of 11 , h.J~-orm 051 1/01 _:' ':: ii DOC ID #: 00005674528606004 19; Borrower's Right to R,~instate After Acceleration..It' Borrower meets ce,'[ain conditions, Borrower shall have tile right [o have enf)rcemeni of Ibis Security hlstmment discontimled at any time prior to tile earliest of: (al five days before sale of the Property pursuant to any power of sale contained in this Security Instroment; (b) such other perioc' a~:; Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgmem enforcing this Security Instrument. Those conditions are that Borrower: (al pays Lender all sums which' tl~en would be due under this Security Instrnment and the Note tls if no acceleration had occurred; (b) ct res any default of any other covenants or agreements; (cl. pays all expenses incurred in enforcing this Secu".':ity histmlnent, incloding, but not linfiled to, reasonable attorneys' fees, property inspection and valuatim~ fi~es, aud other fees incurred for the purpose of protecting Lender's inlerest in the Property and fights under 'hii: Security Instrument; and (ti) takes such action as Lender may reasonably require to assure that Lender's initerest in the Property and fights under this Secm'ity Instrmnent, and Borrower's obligation to pay the sums secured by this Security Instrmnent, shall continue nnchanged. Lender may require that Borrower pay S'lCtll reinstatement sums and expenses il/ one or more of tire following forms, as selected by Lender: (al cash; (;:~) mouey order; (c) certified check, batik check, treasurer's check or cashier's check, provided m~y such check s drawn upon all institation whose deposits are insured by ti federal agency, instrumentality or entity; or (d)El)ctrouic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secu.,:et~ hereby sh,'dl remain hilly effective as if no acceleration had occurred. However, this right to reinstate sl,.ml~ not apply ill the case of acceleration under Section 18. 20. Sale of Note; Change ~lf Loan Servicer; Notice hi' Grievance. Tile Note or a p,'u-tial interest in the Note (together with this Security.,Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change ]n t;:he entity (known as the "Loan Servicer") that collects Periodic Payments due nnder tile Note aud this Sect?.Sty Instrument and perl'onns olher mortgage loan servicing obligations under the Note, this Security h~strumenI, f.nd Applicable Law. There also might be one or inore changes of tile Loan Servicer unrelated to a sale of t!le Note. If there is a change of tile Loan Servicer, Borrower will be given written notice of the change which Will slate the name and address of the new Loan Servicer, the address to which payments sliould be made and tiny odier information RESPA requires in connection with a notice of transfer of servicing. If the Note is ~sold and thereafter the Loan is serviced by a [oan Servicer oilier than the purchaser of the Note, the mortg~ ge loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred ton successor Loan Servicer and are not assumed by Ihe Note purchaser nnless otherwise provided by the Note purchaser. Neither Borrower nor Len.der may commence, join, or be joined to any judicial action (as either an individoal litigant or the membm of' a class) that arises from tile olher party's actions pnrsu,'mt to this Sec'urity Instrument or that alleges that the other party has breached ,'my provision of, or any duty owed bY reason of, this Security Instrmnent, ontil su-:h, iBorrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the givin,g of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, Ihat time period will be deemed to be reasonable for purposes of this paragraph. The :notice of acceleration and ol)portunity to cure given to Borrower pursuant to Section 22 and the nOtice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy tile notice and oPportunit) to take corrective action provisions of this Section 20. 21. Hazardous Subslances, As used in this Section 21' (al 'Hazardous Substances" are those substances defined as toxic or hazardous s.ubstances, pollutants, or wastes by E,lvironmental Law and the following substances: gasoline, kerosene, c tiler flammable or toxic pelroleum products, Ioxic pesticides and herbicides, volatile solvents, materials coniaining asbestos or formaldehyde, and radioactive materials; "Environmental Law" means fed ~.ral laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action,'as defined iu Enviromnental Law; and (d) an "Environmental Condition" means a condition that can cause; contribute to, or otherwise trigger an Environmental Cleantip. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Itazardous Substances, or threaten to releas~ any Hazardous Substances, on or in tile Property. Borrower shall not do, uor allow anyone else to do, anything'a?fecting the Property (al that is il/ violation of any Environmental Law, (b) which creates an Environmental,Crndition, or (el which, due to the presence, nsc, or release of a Hazm;dous Substance, creates a condition tl[at adversely affects the wtlue of the Property. The preceding two sentences shall not apply to the presence, ,us~i;, or storage on the Property of small qoantities of Hazardous Substances that are generally recognized to 3et:appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, ha?,ar:lous substances in consumer products). Borrower shall promptly giveILender written notice of (al any investigation, claini, demand, lawsuit or oiher action by any governmer'ta[ or regulatory agency or private party involving the Property and ,'my Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Enviromnemal Condition, including but not limitdd t0, ,'my spilling, leaking, discharge, release or threat of release of ally Hazardous Substance, and (c) any Condition caused by the presence, nsc or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is uotified by auy governmental or regulatory authority, or any private,'pm'ty, ti!at aoy removal or other ,'emediation of any Hazardous Substance affecting the Property is necessary, iBon'ower shall promptly take all necessmy relnedial actions in accordance with Environmental Law. Nothip, g l~:erein shall create ,-my obligation O1i Lender for an Environnmntal Cleanup; Inlllals~ ~ (~®-6A(WY) (0005) CHL (08/00'.,' Page 9 of 11 "J~ I-otto ~051 1/01 DOC ~D ~: 0000S67~S2860600q ~Q~IFO~ COVENAHTS Borrower and Lender timber covennnt and agree as follows ~g~dt'a~{o~ Re,nedies. Lender shall give notice 1o Borrower prior ,o acceleration rono~ng Borrower's breach of any e0Vennnl or agreement in lhis Seeorily lnslrnmen{ ~ul no{ prior lo acceleration under Section 18 udess Applicable Law provides od~erwise). The nodce shall spec~: (a) lhe default; (b) the action required to cure the default; (c) a dale, not less than 30 days I?om tl~e date lhe notice is given to Borrower, by which the default nmst be cured; nnd (d) that failure [o cure lhe default on or before the dale speeilied in tl~e notice may result in accelerndon of the stuns scooted by lids Security h~strument and sale of lhe Property. The notice shall furlher inform Borrower of the right lo reinstate after acceleration and :he right lo bring n court notion lo nsserl lhe non-existence of n default or any other defense of Borrower to aeeeleratiun and sale. If the default is not cured on or before the date speeded in the notice, Lender at ils option may require immediale payment in l~dl of all stuns secnred by this Secnrity Instruw'ent ~thout h~rther demand and may invoke the power of sale and any nther remedies permitted by Apflicable Law. Lender shall be entitled to collect all expenses incnrred in pursning fl~e remedies provided in thN Section 22, inclnding, but not limited lo, reasonable attorneys' fees and costs of title evidence. If Lender invokes the powe? of sale, Lender shall give notice of inient lo foreclose to Borrower and to the person in possession of P~e Property, if difl~rent, in accordance with Applicable Law. Lender shall give notice of the sale ~o B~rrower in the manner provided in Section 15. Lender shall publish the notice of sale, and ~he Property ~hall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase fl~e Pn pi~rty at any sale. The proceeds of the sale shall be applied in the foHo~ng order: (a) to all expen';es of the sale, including, but not limiled to, reasonable aliorneys' fees; ~) to all sams secnred by this S)c.?ri/y h~strnment; and (c) any excess lo the person or persons legally thrilled to it. 23. Release. Upon paymenl 07 all sams sectu'ed by this. Sec,rity Instrument, Lender shall release this Secnri~ Instrument. Borrower sm~l pay any recordation costs. Lender may ch~ge Bon'ower a fee for re]easing this Security Iustmmenl t-et only if the fee is paid to a third party for se~ices rendered and the charging of the fee is pemfitted un ':le'~' Applicable Law 24. Waivers, Borrower rele lses and waives all ~ghts under and by vi~xue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, B(rrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Ritler executed by Borrower and recorded with it. Wi [negse8: ROBER'~. HOP~ PAMELA d MOORE (Seal) -Borrower (Seal) -Borrower (Seal) (Seal) -Borrower (~®-6A(WY) (ooo5) CHL (08/00) Page 10 of 11 Form 3051 1/01 575 STATE OF WYOMING, The foregoing instrument was acknowledged before me this DOC ID ii: 00005674528606004 'T~ ~ County ss: Notary Public ~}®-6A(WY) (ooo5) CHL (os/olt PaBell oill Initials: Form 3051 1/01