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HomeMy WebLinkAbout900546Remrn To: WELLS FARGO HOME MORTGAGE 3601 MINNESOTA DR. SUITE 200 BLOOMINGTON, MAI 55435 Prepared By: COMMUNITY FIRST MORTGAGF, LLC 808 3RD AVE SOUTH,, FARGO, ND 581030000 Space Almve Tlds Liue For Recordi,~g Dntn] MORTGAGE DEFINITIONS Words used in multiple sections of fids document are defined below and other words arc defined in Sections 3, 11, 13, 18, 20 and 217 Certain rules regarding thc usage of words used in tiffs document are also provided in Section .16. (A) "Security lnslrmnent" means his document, which is dated JUNE 22, 2004 togefl~er with all Riders to this dacmnent. (B) "Borrower" is ALAN D. HDLDER AND PAMELA FAWN HOLDER, HUSBAND AND WIFE Borrower is fl're mortgagor under dfis Security Instrument. (C) "Lende,-" is COMMUNITY I?IRST MORTGAGE, LLC Lender is a LIMITED LIABILITY COMPANY organized and existing under the laws of THE STATE OF DELAWARE 0042921205 WYOMING-Single Farnily Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP MORTGAGE FORMS - (8001521-7291 Form 3051 1/01 Leuder's address is P.O. Bor 10304, DES MOINES, IA 503060304 Lender is the mortgagee trader this Security lnstrmnent. (D) "Note" means the pronfissory, note signed by Borruwer and dated JUNE 22, 2 0 0 4 . The Note states that Borrower 'awes Lender SEVENTY THOUSAND SIX HUNDRED FIFTY AND 00/100 Dollars (U.S. $ * ** * * 70,650.00 ) plus interest. Borrower has promised to pay this debt iu regular Periodic Payments and to pay tile debt in full not later than JULY 01, 2019 (E) "Property" means file pmpe',:ty that is described below un&r the headiug "Transfer of Rights iu the Property." (F) "Loan" metals the debt evidenced by file Note, plus interest, any prepaymeot charges.and late charges due under tim Note, and all sums.due under this Security [llstrun~cot, l}lus interest. (G) "Riders" means all l/iders to fids Security lnstrmnent that are executed by Burrower. The following Riders are to be executed by Burrower [check box as applicable]: ~ Adjustable Rate Rider [-~ Condolniniuln Rider ~] Second llolne Rider ~] Balloon Rider {--] Planned Ulfit Development Ride,' [---] 1-4 Faofily Rider ~ VA Rider ~ 'Biweekly Payment Rider [~ Oilier(s) [spec'el (It) "Applicahle Law" ~nea~=s all controlling applicable federal, state and local statutes, regulations, ordinances and administrative roles and orders (flint have the effect of law) as well as all applicable final, non-appealable judicial opinions. (1) "Community Association Dries, Fees, ami Assess,neuts" means all dues, fees, assessments and other charges flint are imposed on BSrrower or fl-~e Property by a condomi~fium association, homeowners association or sinfilar organization. (J) "Electrouic Funds Tram!let" mea~ts any trausfer of funds, other titan a transaction originated by check, draft, or sinfilar papei: ihstrmnent, which is itfitiated dm)ugh ad electronic terminal, telephonic instrument, computer, or maghetlc tape so as to order, i~tstmct, or aufl~orize a financial institution to debit or credit an account. Such te?m includes, but is not limited to, po,ut-of-sale transfers, au,onto,ed teller machine transactions, trausftSrs initiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" means fl~:~se items flint are described iu Sectiou 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any flfird party (off,er than imurance proceeds paid under fl~e cuverages described in Section 5) fi)r: ti) danmge t0, or destruction of. file Property; (ii) condem~mtiou or other taking of all or any part of the Proper~y; (iii) conveyance in ~ieu of condemnation; or (iv) misrepresentations of, or omissions as to, fl~e value and/or condition of thc Pro0erty. ~1) "Mortgage Insurance" meaus insurauce protecting Lender against file nonpayment of, or default on, fl~e Loan. tN) "Periodic Payment" means the regularly scheduled amount due fo,' ti) pr,dc,pal and iuterest under fl~e Note, pi'us (ii) any amounts re:der Section 3 of flits Security Instrument. (O) "RESPA" means fl~e Rea E;tate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implententing regulation, Regulation X (24 C.F.R. Pa,-, 3500), as fl~ey nfight be amended from time to time, or any additional or successor legislation or regulation flint governs the same subject ,nat,er. As used in fids Security Instrument, 'TSSSPA" refers to all requirements and restrictions flint are imposed in regmd to a "federally related mortgage loan" even if fl~e Loan does not qualify as a "federally related mortgage loan" under RESPA. (~)~-6(WV) Iooo~} Page 2 o~ 16 Form 3051 1/01 (P) "Successor in Interest of B(',rrower" meaus any party flint has taken title to flm Property, wbetlier or not flint party has assumed Borro,a, er's obligations under the Note and/or this Security Instrument. TRANSFER OF 'RIGHTS IN TE'E PROPERTY This Security lnstmmem secures to Lender: (i) the repayment of file Loan, and all renewals, extmrsions and modifications of file Note; and (i'i) the pertbrmance of Borrower's covemmts and agreements under Security Instrument a~.l rite Not~.. For fids purpose, Borrower docs hereby mortgage, grant aud convey to Lender and Lender's successors "md assigns, Mill power of sale, thc lbllowing described property located in fl~e COUNTY ' of LINCOLN : [Type of Recording 'u,'isdiction] [NJ, me of Recording Jurisdiction] LOT 9A OF BLOCK 1 OF ?HE LINCOLN HEIGHTS 5TH ADDITION, FIRST FILLING TO THE CITY OF KEMMERER ~ LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF. TAX STATEMENTS SHOULD tl~l SENT TO~ WELLS FARGO HOME MORTGAGE, P.O. BOX 10304, DES MOINES, IA ~03060304 Parcel ID Number: 12 2116 23' 3 07 105 which currently has tile address of 1667 TROY COURT [Street] KEI~L~IERER [City] , Wyoming 83101 [Zip Code] ("Property Address"): TOGETHER WITH ~all die improvements now or hereafter erected on flae property, aud all easements appurtenances, and 'Jirtures now or hereafter a part of fl~e property. All replacements and additions shall also be covered b:.] fids Security Instrument. All of thc foregoing is referred to in this Security Instrument as fl~e "Proper~.y." BORROWER COVENANTS ~at Borrower is lawfiflly seised of the estate hereby conveyed and has fl~e right to mortgage, grant and convey the Property and flint floc Property is unencumbered, except tbr encumbrances of record. Borro~e~' wa~ants and will de/~nd generally fl~e title to fl~e Property against all claims and denmnds, subject to aay encumbrances of record. TItIS SECURITY INSTRUMENT combines mfitbrm covenants for lmtioual use and non-uniform covmmnts wifl~ lind]ed variationt; by jurisdiction to cmmtitute a unitbrm security iostmment covering real property. UNIFORM COVENANTS. Bo~ower and Lender covenant a~tl agree as tbllows: 1. Payment of Principal,. Interest, Escrow Items, Prepayment Charge, and Late Charges. Borrower shall pay when due d;eprincipal of, and interest on, fl~c debt evidenced by the Note and any prepaYment charges and late cha':ges due under fl~e Note. Borrower shall also pay ~uds tbr Escrow Items pursuant to Section 3. Paymentt~ due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check o~ other instrument received by Lender as payment under &e Note or this ~6(WY) (ooo~) : $,~, 3 of 1~ Form 3051 1/01 Security Instrument is returneld to Lender unpaid, Lender may require that any or all subsequent payments due under fl~e Note and this Sgcurity Instrument be made in one or more of the following tbrms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an iostitution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Fmlds Transfer. Payments are deemed re:~e~ved by Lender when received at file location desig~mted in fl~e Note or at such other location as may be.d~sig~mted by Lender in accordance with the nonce provisions in Section 15. Leuder may return any paym:mt or partial payment if the l)ayment or partial payments are insufficient to bring fl~e Loan current. Lender nmy accept any payment or partial payment insufficient to bring the Loan currem, wiflmut waiver of auv fights hereunder or prejudice to its rights to refuse such payment or partial payments in the fl~tnre, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic P[tyment is applied as of its scheduled due date, then Lender need not pay interest On uimpplied funds. Lender may hold such mmpplied funds until Borrower makes payment to bring fl~e Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return flmm to Borrower. If ~mt applied earlier, such fimds will be applied to the outstanding principal balance under the Note immediately prior to foreclosm'e. No offset or claim wlffch Borrower nfight have now or in the fut:m'~ against Lender shall relieve Borrower from m:~king payments due under the Note and this Security Irlstrnment or pertbrming the covemmts and agreements secured by this Security Instrument. 2. Application of Paymtnts or Proceeds. Except as otherwise described in this Section 2, all payments accepted and app!kd by Lender shall be applied in the fidlowing order of priority: (a) interest due uuder fl~e Note; (b) pfin,:il~al due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Peril}die Payment in the order in which it became due. Ally re,nainiug amounts shall be applied first to late charges, second to any oilier amounts due under tiffs Security Instrument, and then to reduce the principal b~.lance of file Note. If Lender receives a payment titan Borrower for a delinquent Periodic Payment which includes a sufficieut amount to pay any late charge due, file payment may be applied to the delinquent payment and the late charge. If more than qne Periodic Payment is outstauding, Lender ]nay apply any payment received from Borrower to the repayment of the Periodic Payments it', and to the extent fllat, each payment can be paid in full. To tile extent that any excess exists after file payment is applied to file full payment of one or more Periodic Payments, such excess may be applied to any late ch,'trges due. Voluntary prepayments shall be applied first to any prepayt~neat charges and then as described iu file Note. Auy application of payments, insurauce proceeds, or Miscellaneous Proceeds to principal due nnder fl~e Note shall ~mt exteud or postpone the due date, or change file amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under file Note, until file Not.: is paid in lull, a stun (file "Funds") to provide for payment of amouuts due for: (a) taxes and assessment~ a:~d other items which can attaio priurity over this Secm'ity lostruum~t as a lien or encumbrance on fire l~ropmty; (b) leasehold payments or ground rents on file Property, if any; (c) premimus for any and all il,surance required by Lender uuder Section 5; and (d) Mortgage lusmauce prenfiums, if any, or auy stuns payable by Borrower to Lender in lieu of fire payment of Mortgage Insm'ance premiums in accordance with fire provisious of Section 10. These items are called "Escrow Items." At ofigimltion or at ,my time during the term of file Loau, Lender nmy require that Commmfity Association Dues, _Fees, and Assessments, if auy, be escrowed by Borrower, aud such dues, fees aud assessments shall be an Escrow Item. Borrower shall promptly furnish to Leuder all notices of mnounts to be paid under this Section. 13or:ower shall pay Lender the Funds tm' Escrow Items unless Leuder waives Borrower's obligation to pa;, file Funds for any or all Escrow Items. Lender nu~y waive Borrower's obligation to pay to Lender 1-unds for any or all Escrow Items at ally time. Any stlcll waiver may only be iu writing. In fire event of such waiver, Borrower shall pay directly, when and where payable, tile amounts (~-6{WY) 1ooo6} · p~g~ 4 o115 I~' Form 3051 1/01 .tO8 due for any Escrow Items for wh~ich p;tyment of Funds has been waived by. Lender and, if Lender requires, shall fl~rnish to Lender receipts t.videncing such payment wiflfin such time period as Lender may require. Borrower's obligation to nmke S, tc'h payments and to provide receipts shall for all purposes be deemed to be a covexmnt and agreement con:airier in tiffs Security Instrument, as fl~e phrase "cove~mnt and agreement" is used in Section 9. If Borrowar'is obligated to pay Escrow Items directly, pursnant to a waiver, and Borrower fails to pay fl~e amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrowt'~r shall fl~en be obligated under Section 9 to repay to Lender any such amount. Lender ~qy revoke ~e waiver as to any or all Escrow Items at any time by a notice given in accordance wiflt Section 15 and tpon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, ant are fl~en required under tiffs Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply fl~e Funds at rite time specified -ruder RESPA, and (b) not to e.xceed the nmximum amount a lender can require under ~SPA. Lender ~hall estinmte fl~e amount of Funds due on fl~e basis of cm~ent data and reaso~mble estimates of expenditares of ~ture Escrow Items or ofl~erwise in accordance wifl~ Applicable Law. The Funds shall be held. i}~ an institution whose deposits are insured by a federal agency, instmrnentality, or entity (includ~.ng Lender, if Lender is an institution whose deposits are so i~urcd) or in any Federal }tome Loan Bank. Lender shall apply fl~e Funds to pay d~e Escrow Iten~ no later titan fl~e time specified under ~SPA. Lender si-all not charge Borrower lbr holding and applying rte. Funds, annually atmlyzing file escrow account, or verifying fl~e Escrow Items, unless Lender pays Borrower interest on Funds and Applicable Law permits Lender to make such a charge. U~fless an agreement is nzMe in wridng or Applicable Law requires inter':st to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on flxe Funds. Borrower and Lender can agree in writing, however, ~O~at interest shall be paid on fl~e Funds. Ledder shall give to Borrower, wiO~m~t charge, an annual accotmting of the Funds as required by ~SPA. If fl~ere is a su¢lus of Furies held in escrow, as defined under RESPA, Lender shall account to Borrower for fl~e excess hnds ir. a%ordance wifl~ RESPA. If there is a shortage of Funds held in escrow, as defined under ~SPA, Lende'- shall notit~ Borrower as required by RESPA, and Borrower shall pay to Lender fl~e amount necessary to ~mke np the shortage in accordance wifl~ ~SPA, but in no more than 12 monflfly payments. If fl~ere is a ~eticiency of Funds beld in escrow, as defined under I~SPA, Lender sball noti¢ Borrower as required by 7~SPA, and Borrower shall pay to Lender file amount necessary to nmke up fl~e deficiency in accordance witt~ I~SPA, but in no more fl~an 12 mouflfly payments. Upon payment in fifll of aE st~ms secured by this Security Instrulnent, Lender shall promptly refund to Borrower any Funds held by I.el~der. 4. Charges; Liens. Borrcw,~:r shall pay all taxes, assessments, charges, fines, and impositions attributable to ~e Property which :an attain priority over tiffs Security Instrument, leasehold payments or ground rents on the Property, if .~nF, and Cotmnuxfity Association Dues, Fees, and Assessments, if any. To the extent that fl~ese items are Es :row l~exns, Borrower shall pay fl~em in rte nntm~er provided in Section 3. Borrower shall promptly d scharge any lien which has priority over tiffs Security Instrument unless Borrower: (a) agrees in writing to fl~e payment of rite obligation secured by fl~e lieu in a mam~er acceptable to Lender, but oNy so long as ~o~rower is performing such agreement; (b) contests fl~e lien in good faith by, or det~nds against entbrcemen~ of fl~c lien in, legal proceedings which in Lender's opi~fion operate to prevent fl~e enforcement of fl~e lieu while fl~ose proceedings are pending, but otfly until such proceedings .are concluded; or (c) secures fi'om'fl~e holder of thc lien an agrccxncnt satist~ctory to LelMcr subordi~r~ting fl~e lien to tiffs Security lnstmmenr. If Lender determines that any part of fl~e Property is subject to a lien which can attain priority over fids Security Instrument, Lender n'~y give Borrower a notice identifying fl~e (~;~-6(WY) (ooo5~ P.g. sof~5 Form 3051 1/01 lien. Wifltin 10 days of fl~e dare on which that notice is given, Borrower sball satisfy fl~e lien or take one or more of fl~e actio~ks set forfl~ aoove in riffs Section 4. Lender may require Borromer to pay a one-time charge lbr a real estate tax verification and/or reporting service used by Lender:in com~ectiou wifl~ fltis Loan. 5. Property Insurance. Bcrrower shall keep tim ~mprovcmcnts uow existing or hereafter erected on the Property insured against los~ by fire, hazards included within O~e term "extended coverage," and any other hazards including, but not limited to, earOtquakes and floods, lbr which Lender requires insurance. This insurance shall be nmin'_ai~,ed in file amounts (iucluding deductible levels) and for O'~e periods tl~at Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. q'he insurance cart)er providing the insurance shall bc chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasomtbly. Lender may require Borrower to pay, in' connection wifl~ tiffs Loan, eifl~er: (a) a oue-time charge flu' flood zone deternfi~mtion, certification and tracking services; or (b) a one-time charge for flood zone deternfi~mtion and certification services and st~bsequent charges each time remappil~gs or sinfilar changes occur which reaso~mbly might affect such' determination or certification. Borrower shall also be responsible lbr rite payment of any fees imposed by flie Federal Enmrgency Managcmeut Agency in connection with review of any flood zoue dete:mi~mtion resulting fi'om an objection by Bon'ower. If Borrower /hils to nmintain any of the coverages described above, Lender nmy obtaiu insurance coverage, at Lender's optim? and Borrower's expetme. Lender is under uo obligation to purchase any particular type or amount or'coverage. Therefore, such coverage shall cover Lender, but might or nfigbt not protect Bogower, Borrower's equity in rite Property, or fl~e contents of fl~e Property, against any risk, hazard or liability and nfight, provide greater or lesser coverage than was previously in effect. Bon'ower acknowledges that fl~e cost o1' the insurance coverage so obtaiued might significanfly exceed rite cost of i~mnrance fl~at Borrower couh'~ have obtained. Auy anmunts disbursed by Lender under Otis Section 5 shall become additioiml debt of Bo:~i'rower secured by tiffs Security Instrument. These amounts shall bear interest at fl~e Note rate tYom fl~e datd of'disbursement and shall be payable, wifl~ such interest, upon notice t¥om Lender to Borrower requestin:g p.tyment. All itmurance policies rcqn:red by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policit's, shall include a standard mortgage clause, and shall ~mnm Lender as mortgagee and/or as an additio~d loss payee. Lender shall have O~e right to hold fl~e policies and renewal certificates. If Lender require;, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obiaius any lbrm of insurance coverage, not ofl~erwise required by Lender, for danmge to, or destructior of, the Property, such policy shall iucludc a standard mortgage clause and shall name Lender as ~nortgagee md/or as an additioual loss payee. In tim event of loss, Bo:-rower shall give prompt notice to the insurance carrier and Lender. Lender nmy nmke proof of loss if ~m[ n'ade promptly by Borrower. Unless Lender and Borrower ofl~erwise agree in writing, any insurance pro~:ee,ls, whefl~cr or not fl~e underlyiug insurauce was required by Lender, shall be applied to restoration or rt:pair of rite Property, if fl~e restoration or repair is econonfically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have fl~e right to hold such insurmme proceeds m,til Lender has had an opportunity to inspect such Property to ensure the work has been completed t0 Lender's satisthction, provided fl~at such inspection shall be undertaken promptly. Lender nmy disburse 'proceeds for file repairs aud restoration in a single payment or in a series of progress payments as fire wot2 is completed. Unless an agreement is nmdc in writing or Applica'ble Law requires interest to be paid o~ such insurance proceeds, Lender shall not be required to pay Borrower any interest or eanfings on sucl- p':oceeds. Fees lbr public adjuslers, or ofl~cr third parties, retained by Borrower shall not be paid o ~t of fl~e insurance proceeds and shall be fl~e sole obligation of Borrower. If fl~e restoration or repair is not e¢~onomically lbasible or Lender's security would be lessened, rite insuratme proceeds shall be applied to the'sums secured by tiffs Secm'ity lustrmuent, whefl~er or not then due, with fi{WY) 1ooo6) P~ ~ o( ~6 Form 3051 1/01 fl~e excess, if any, paid to Borrf)%er. Such insurance proceeds shall be applied in the order provided for tn Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related ~tters. If B:.~rxower does not respond wiflfin 30 days to a notice from Lender O~at flxe insura~me carrier has offered to' settle a claim, fl~en Lender ~mty negonate and settle the claim. The 30-day period will begin when fl~e m~tice ~s given. In eifl~er event, or if Lender acquires the Property under Section 22 or o~erwisc, Borrower hereby assigns to Lender (a) Borrower's rights to any iusurancc proceeds in an amount not to exceed tim amounts unpaid under thc Note or Ods Security Instrument, and (b) any oilier of Borrower's rights (oilier titan tim right to any retired of unearned prenfimns paid by Bo~ower) under all insurance oclicies covering fl~e Property, insolhr as such rights are applicable to file coverage of fl~e Property. Lender nmy use fl~e insurance proceeds either to repair or restore fl~e Property or to pay amounts unpaid under file ~ote or fids Security Instrument, whefller or not flten due. 6. Occupancy. Borrower t, hall occupy, establish, and use rte Property as Borrower's principal residence wiflfin 60 days after fl~: execution of fids Security lustrumeot and shall continue to occupy fl~e Property as Borrower's pdnc~p'al.reside~me for at least one year alicr file date of occupancy, mdess Lender ofl-ierwise agrees in writing, x.?hich consent shall not be um-easonably wiflflield, or mfless extenuating circuinstances exist which are beyond Borrower's control. 7. PreservatiOn, Maintenance and Protection of the Property; Inspections, Borrower shall not destroy, danmge or impair the Property, allow the Property to deteriorate or conmfit waste t)n the Property. Whefller or not Borrawer is residing in fl~e Property, Borrower shall nufintain the Property in order to prevent file Property tYom deteriorating or decreasing iu value due to its condition. Unless ~t is determined pursuant to Sectio~ 5 flint repair or restoration is not economically tbasible, Borrower shall promptly repair fl~e Property if danmged to avoid ~rflicr deterioration or damage. If insurance or condennmtion proceeds are paid in com~ection wifl~ damage to, or the taking of, the Property, Borrower shall be responsible tbr repairing or restoring file Property only if Lender has released proceeds Ibr such purposes. Lender may disburse proceeds for rite repairs and restoration m a single payment o~ in a series of progress paynmnts as fl~e work is completed. If thc i'~urancc or condcm~mtion proceeds arc not sufficicm to repair or restore fl~e Property, Borrower is not relieved of Borrower's obligation for fl~e completion of such repair or restoration. Lemler or its agent ~my'n~ke reasoxmble entries upon and inspections of the Property. If it has reasonable cause, Lender nmy :l~spect file interior of file improvements on fl'~e Property. Lender shall give Borrower notice at file time of or ~)rior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Al~plication. Bo~ower shall be in dethult if, during file Loan application process, Borrower or any persons or entrees ac6og at rte direction of Borrower or with Borrower's knowledge or consent gave materially fidse, nfisleading, or inaccurate infornmtio~[ or statements to Lender (or failed to provide Lendc.' with nmterial inl:ornmtio~0 in connection wifl~ fl~e Loan. Material representations i~mlnde, but ar-: .mt limited to, representations COliCeruing Borrower's occupa~my of tim Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower hils to perform fl.,e covmmnts and agreements contained in fids Security lnstrnmcnt, (b) fl~ere is a legal proceeding flint nfigl't gignificantly aft~ct Le~der's interest in file Property and/or rights under fids Security Instrument (such ts a proceeding in bankruptcy, probate, lbr condennmtion or tbrt~iture, tbr enforcenmnt of a lien which n~ty attain priority over fids Security Instrument or to entbrce laws or regulations), o~ (c) Borrower has abandoned fl'~e Property, filch Lender nmy do and pay for whatever is reasonable or appropriate to protect Lender's interest in fl~e Property and rights under fids Security Iustnnnent,'it~luding protecting and/or assessing file value of file Property, and securing and/or repairing · e Property. Lender's actions c}tn include, but are not limited to: (a) paying any sums secured by a lien wlfich has priority over fids Se~cudty Instrument; (b) appearing in court; and (c) paying reasom~ble ~6(WY) {ooos) Pago 7 o[ 15 Form 3061 1/01 attorneys' fees to protect its interest in the Property and/or rights under this Security htstrument, including its secured posmon i'll a banl:ruptcy proceeding. Securing the Property includes, but is trot lilnited to, entering the Property to make'regairs, cllauge locks, replace or board up doors and windows, drain water from pipes, elimitu~te building o: other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action uuder this Section 9, tender does not have to do so and is not under any duty or obligation n) (Jo so. It is agreed that Lender incurs no liability for not taking any or all actious authorized uuder this Section 9. Any amounts disbursed by: Lender under this Section 9 shall become additioual debt of Borrower secured by tiffs Security Instrment. These amounts shall bear interest at thc Note rate flora thc date of disbursement and shall be paya[le, with such interest, upou nodce titan Lender to Borrower requesting payment. If this Security Instrument Js on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires lc: t41e to the Property, the leasehold and thc lee title shall not merge unless Lender agrees to file merger in writing. 10. Mortgage lnsurauce, lt' Lender required Mortgage Insurance as a condition of making file Loan, Borrower shall pay the premimns required to maint:fin the Mortgage Insurance in effect..lf, for any reason, file lvlortgage Insurance coven,~ge required by Lender ceases to be available flora file inortgage insurer that previously provided such instm~'Lce and Borrower was required to nn~ke separately desigmttcd payments toward file prenfinms for M'~)rtgage Insurance, Borrower sh:dl pay file premiums required to obtain coverage substantially equivalent to file Mortgage Insurance previously ill effect, at a cost substautially equivalent to the cost to Borrower of the Mortgage Insurance previously itl effect, fi'om an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insttrance coverage is not available, Borrower shall conttmle to pay to Lender the amount of the separately desigmlted payments that were due when fl~e insm'ance coverage ceased to be in eft'ect. Lender will accept, use aud retain these payments as a non-refimda'bl,~ loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refimdable, notwithstanding tlm tact flint file Loan is ultimately paid in fidl, and Lender shall not be required to pay Borrower arty interest or earnings ou such loss reserve, heuder can no longer require loss reserve payments it Mortgage~ Insurance coverage (itl the amount and fi)r the period flint tender requires) provided by an insurer selec!~ed by Lender again becomes available, is obtained, and Lender requires separately desigm~ted payments toward the prenfiums for Mortgage Insurance. 1I' Lender required Mortgage Insurance as a condition of making file Loan and Borrower was required to nulke separately designated payments toward the premiums for Mortgage. Insurance, Borrower shall pay file premiums required to maintain Mortgage Insurance in effect, or to provide a non-rel:uodable loss reserve, until Lender's requirement for Mortgage Inst~rance ends in accordance with any written agreement between Borrower and Lender providing for such ter!ni~]ation or until termination is required by Applicable Law. Noflling in this Section 10 affects Borrower's ;)b~Jgation to pay interest at file r:,te provided in thc Note· Mortgage Insurance reimbLrses Lender (or auy entity that purchases file Note) tbr certaiu losses it nmy incur if Borrower does no't repay the Loan as agreed· Btm'owcr is not a party to the Mortgage Insurance. Mortgage insurers evalm.te:fl~eir total risk on all such insurance in force from time to time, and may enter into'agreements with oflLer :parties that share or modify fllcir risk, or reduce losses. These agreements are on terms and conditions fi.at'are satisfactory to the mortgage insurer and thc other party (or parties) to fltese agreements. These agreenlOnts nnty require file mortgage insurer to nrake payments using any source of funds that the mortgage im'urer nuty have awtilable (which may include funds obtained dom Ivlortgage Insurance prenfimns). As a result of these agreements, Lender, any purchaser of tile Note, another insm'er, any reinsurer, any off,er entity, or any affili~,te;of any of the foregoing, truly receive (directly or iudirectly) anmunts that derive from (or might be chamclerized as) a portion of Borrower's payments /'or Mortgage Insurance, in exchange for sharing or mo0ifYing thc mm'tgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of ,~e-tdcr takes a share of rite insurer's risk in exchange for a share of rite premiums paid to the insurer, th{ arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not atTect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agree~nents will not increase the amou,t Borrower will owe for Mortt'age Insurance, and they will not entitle Borrower to any rel'uml. (~-6(WY) 1ooo~ ea~ e o~ ~ Form 3051 1/01 11° (b) Any such agreemems Will uot affect the rights Borrower has - if any - with respect to the Mortgage Insurance under t!~e Ilomeowners Protection Act of 1998 or any other law. These rights may include the right to r"ective certain disclosores, to request and obtain cancellation ol' the Mortgage Insurance, to have tlie Mortgage lusurance terminated autonmtically, and/or to receive a refund of any Mortgage lnstira!~ce premiums that were unearned at tile time of such cancellation or termina lion. ~ 11. Assignment of Mis}ehaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid tQ L~:nder. If die Property is damagdd, isuch Miscellaueous Proceeds shall be applied to restoration or repair of the Property, if the restoratiof or repair is economically feasi'ble aud Lender's security is not lessened. During such repair and restora.tiotl period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an oppoi-tuhity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provider; d~at such inspection shall bt undertaken promptly. Lender may pay for the repairs and restoration in a ~ingle disbursement or in a series of progress payments as the work is completed. Unless an agreeme,~t is made in writiug or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If die restoration or repair is not economically feasible or Leuder's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid. to Borrower. Sucll Ivliscellaneous Proceeds shall be applied itl the order provided fro' in Section 2. In die event of a total 'ink,tug, destruction, or loss in value of the Property, d~e Miscellaneous Proceeds shall be applied to the ~<mns secured by this Security Instrument, whether or not then due, with th.e excess, if any, paid to Bon.ow:r. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property inmtediate!y before the partial taking, destruction, or loss in value is equal to or greater than the amount of the s:~ms secured by this Security Instnmlent immediately before the partial takiug, destruction, or loss h? value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security lnslru[~ent shall be reduced by the amouut of the Miscellaneous Proceeds multiplied by the following f~-acfion: ('4) the total amount of the sums secured inunediately before the partial taking, destruction, or loss, in value divided by (b) the fair market value of the Property i~mnediately before the partial taking, destruction, or loss in wdue. Any balance shall be paid to Borrower. In the event of a partial t~aking, destruction, or loss in value of the Property in which the fair n~u'ket value of the Property immedi:xeiy before the partial taking, destructiou, or loss in value is less than the amount of the sums seem'ed i!nm~ediately before the partial takiug, destruction, or loss in value, unless Borrower and Lender otherwk, e agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrmnent whether or not the sums are then due. If the Property is abandoned by Borrower, or if', after notice by Lender to Borrower that the Opposing Party (as defined i~ the next sentence) offers to nmke an awa,d to settle a claim for danmges, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply tim Misc',Alaneous Proceeds either to resto,'atiou or repair of the Property m' to the sums secured by this Security ~.'nsmunent, whether ol: not then due. "Opposing Party" means the third party that owes Borrower Miscellan:ous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds.' Borrower shall be in defi, ult if any action or proceediug, whether civil or criminal, is begun that, in Lender's judgment, could resalt .in forfeiture of the Property or other material impairmeut of Lender's interest in rite Property or rigl)ts under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinsta e as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in lender's judgment, precludes fmt~imre of the Property or other n~tterial impairment of Lender's interest itt the Property or rights under this Security htswmnent. The proceeds of any award or claim for danmges that are attributable to the inipairment of Lender's iuterest in the Property are hereby assigned aud shall be p'dd to Leuder. All Miscellaneous Proceeds, that are uot applied to restoration or repair of the Property shall be applied in file order provided f~r i]~ Section 2. ~. Page9ol* lS Form 3061 1/01 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of file time for payment or modification of amm'tization of the sums seem'ed by this Security Instrmnent granted by Lender to Borrower or any Successor in In:retest of Borrower shall not operate to release fl~e liability of Borrower or auy Successors m Interest ol Bon'ower. Lender shall not be required to connnence proceedings against any Successor in Iuterest of Borrower or to rdhse to extend time ~br payment or otherwise modiI~ amortization of the sums secured b)~ fids Secm'ity Instrument by reason of any deumnd made by fl~e original Borrower or any Successors in lute-est of Borrower. Any forbearance by Lender in exercising any right or remedy including, wifl~out linfitati:on, Lender's acceptance of payments fi'om flfird persons, entities or Successors m Interest of Borrower or in amounts less titan the amount fl~cn due, shall uot be a waiver of or preclude fl~e exercise of any rigl~t m' remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bonnd. Bm'rower cove~umts and agrees flint Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs tiffs Security Instrume~t but does not execute fl~e Note (a "co-siguer"): (a) is co-s~gning Security Instrument only to mo:tgage, gnmt and convey the co-signer's interest in the Property under fl~e terms of fids Security Instmmen.t; (b) is not persmmlly obligated to pay the sums secured by this Security Instrmnent; and (c) agrees flrat Lender and any off, er Borrower can agree to extend, modily, fi~rbear or make any accmnmodations wifl~' regard to fl~e terms of tiffs Security Instrument or fl~e Note wiflmut fl~e co-signer's consent. Subject to fl~e provisions of Sectiou 18, any Successor in Interest of Borrower who assumes Borrower's obligations under fl~?s Security Instrnment in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be rdeased Borrower's obligatio~ and liabqity under tiffs Security lnstrunm~t unless Lender agrees to such release in writing. The covenants and agreenents of tiffs Security lnstnmm~t shall bind (except as provided in Section 20) and benefit flxe succcssoys and assigns of Lender. 14. Loan Charges. Lend'~r inay charge Borrower l~es for services pertbrmed in connection with Bo~ower's defaul, t, tbr fl~e puri~ose of protecting Lender's interest in fl~e Property and rights under Security Instrument, including, but not linfited to, attorneys' lees, property inspection and valuation l~es. In regard tO any ofl-~er fees, the absence of express authority in fids Security h~stl'ument to charge a specific fee to Bon'ower shall not be cor'sm~ed as a prohibition on fl~e charging of such l~e. Lender may not charge ~es ~at are expressly prohibited by tiffs Security Instrument or by Applicable Law. If flxe Loan is subject to a law which sets maximum loan charges, and that law is .fi~mlly interpreted so flint fl~e interest or other loan c~mrges collected or to be collected in COlmection with the Loan exceed fl~e pernfitted limits, fl~en: (a) any mcl~ loan charge shall be reduced by fl~e amount necessary to reduce the charge to the pernfitted linfit; a~d (b).any sums already collected from Borrower which exceeded penniued limits will be reflmded to Borr[)wer. Lender nmy choose 1o make this refund by reducing the principal owed under fl~e Note or by making a direct paymeut to Borrower. If a rebind reduces principal, the reduction will be treated as a partial prepayment wifltout any prepayn~ent charge (whefl~er or not a prepayment charge is provided .for'under flxe Note). Bmxower's acceptance of any such retired nmde by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security h~strument must be in writing. Any notice io Borrower in cmmectiou with this Security h~strm'nent shall be deemed t0 have 'been given to Bon'ower whep~ nmiled by first class mail or when actually delivered to Borrower's notice address if sent by oflxer r ~eafis. Notice to any one Borrower shall constitute notice to all Borrowers mfless Applicable Law express'y requires otherwise. The notice address shall be fl~e Property Address uNess Borrower has desig~mted a s.~bstitutc notice address by notice tu Leuder. Borrower shall promptly notify Lender of Borrower's change of address. If kender specifics a procedure ~br reportiug Borrower's change of address, fl~en Borrower shall only report a change of address flu-ough flint specified procedure. There nmy be tuffy one designated, notice address under Offs Security Instrument at any oue time. Auy notice to Lender shall be given by delivering it or by nmiling it by first class null to Lender's address stated herein unless Lender has 3esignated anofl~cr add~ess by notice to Borrower. Any notice in connection wifl~ fids Security Instrument shall not be deemed to have beeu given to Lender uutil actually received by Lender. If any noti:e ~Tequired by this Security Instrument is also required under Applicable Law, flte Applicable Law requirement will satisly the con-esponding requirement under fids Security Instrument. 6(WY} Iooo~1 P~ ~o ~f ]~ Form 3051 1/01 1.6. Governing Law; ~everability; Rules of Construction. This Security h~strmnent shall be governed by federal law and 'l~e law of ~e jurisdiction in which ~e Property is located, All rights and obligations contained in ~fis Security Instrument are sub~ect to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow ~ parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In fl'~e event flint any provision ar clause of tiffs Security Instrument or flxe Note conflicts wifl~ Applicable Law, such conflict shall not affect off, er provisions of this Security Iustrument or fl~e Note Which can be given effect widmut the confli(.:tiug provision. As used in tiffs Security Iostmment: (a) words of fl~e masculine gender shall mean and include corresponding ueuter words cr~ words of die feminine gender; (b) words in thc singular shall mean and include dxe plural and vice versa; and (c) the word "nmy" gives sole discretion wifltout any obligation to take any action. 17. Borrower's Copy. B)~rower shall be given one copy of the Note and of tiffs Security histmmeut. 18. Transfer of the Prol, erty or a Beneficial luterest in Borrower. As used in tiffs Section 18, "Interest in fl~e Property" mea'~$ any legal or beneficial interest in the Property, iucluding, but not limited to, flmse beneficial interests transferred in a 'bond Ibc deed, contract fi)r deed, installment sales contract or escrow agreement, fl~e intent of Which is fire transtar of title by Borrower at a Mture date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or translZrred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by tiffs Security Instmmeot. However, flfis opdon shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The uotice shall provide a period of not less fl~an 30 days from the date fl~e notice is given in accordance with Secdou 15 wiflfin whicl~ Borrower must [p:ty all sums secured by dfis Security lnstrmncnt. If Borrower fifils to pay fl~ese sums prior to the expiration of fltis period, Lender nmy iuvoke any remedies permitted by tiffs Security Instrument without fu:rfl~er notice or denmnd gu Borrower. 19. Borrower's Right t6 Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have fl~e fish{ ~o have enforcement of tiffs Security [nstrmnent discontiuued at any time prior to fire earliest of: (a) five ~]ays belBre sale of fl~e Property pursuant to any power of sale contained in this Security Instrument; (b) such off,er period as Applicable Law might specit~ for fl~e ternfi~mtion of Borrower's right to rei~mtate; ~or (c) entry of a judgment cnfi~rcing tiffs Security Instrument. Those conditions are flint Borrower, (a) pays Lender all sums which fl~en would be due under this Security Instrument and ~e Note as if :.~o acceleration had occurred; (b) cures any default of any off,er covmmnts or agreements; (c) pays all expenses incurred in entbrcing tiffs Secm'ity lnstrmuent, including, but not limited to, reaso~mble attorneys' fees, property ilmpection and valuation l~es, aud off, er fees incurred for the purpose of protecting Lender's interest in tim Property and xights under tiffs Security Instrument; and (d) takes such action as Lender ~u~y reasmmbly require to assure that Lender's interest in fl~e Property and rights nuder tiffs Security [ostmment, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue un{~langed. Lender may require that Borrower pay such reinstatement sums aud expenses in one or more of ~e followiug forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, t,'easurer~s check or cashier's check, provided any such check is drawn 'upon an institution whose deposits ,n'e insured by a federal agency, instrummmdity or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security hxstmment and obligatio~m secured hereby shall renmin Mlly effective a> if no acceleration had occurred. However, this right to reinstate shall not apply in fl~e case of acceleration under Section 18. 20. Sale of' Note; ChanEe of Loan Servicer; Notice of Grievance. The Note or a partial interest iu fl~e Note (togefl'~er wifl~ tiffs Security Instmmen0 can be sold one or more times wiflxout prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") fl~at collects Periodic Payments due under, the Note and tiffs Security h~strument and perfimns other mortgage loan servicing obligations under fl~e Note, tiffs Security Instrmncnt, and Applicable Law. There also might be one or more changes of tim Lorn Servicer unrelated to a sale of fl~c Note. If fl~ere is a change of tile Loau Servicer, Borrower will be given written notice of the change which will state the new Loau Servicer, fl~e address to which paymeuts should be made and any other infornmtion RESPA (~I¥6(WY) (ooo51 Page !15 requires in comrection with a netice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer otb :r thou the purchaser of the Note, the mortgage loan servicing.obligations to Borrower will renmm with the. Loan Servicer or be transferred to a successor Loan Servicer and are not assmned by rite Note purchaser tnless otherwise provided by the Note pnrchaser.. Neither Borrowm: nor Lender nuiy connnence, jot[t, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises front the odier party's actions pursuant to flits Secretly Instrument or that alleg ~.s that die od[er party has breached auy provision of, or any duty owed by reason of. this Security Instlxm~t,:nt, until such Borrower or Lender has notified the other party (with such notice given in compliance witl: the requirements of Section 15) or' such alleged breach and aflbrded file other party hereto a reasmmbie :period after die giving of such notice to take con'ective action. If Applicable Law provides a time )eriod which must elapse beftarc certain action can be taken, that time period will be deemed to be reasonable Ibr purposes of this paragraph. The notice of acceleration and opportunity to cure given to Bo[rower pursuant to Section 22 and die notice of acceleration given to Borrower pursuant to Section 13 :~hall be deemed to satisfy die notice and opportunity to take corrective action provisions of this Section 20. 2.1. Hazardous Sttbstances, AS used in this Section 21: (it) "Hazardous Substances" are those substances defined as toxic 'or haz~trdous substances, pollutants, or wastes by Enviromnental Law aud the following substances: gasoline, k,zrosene, other flammable or toxic petrolctnn products, toxic pesticides and herbicides, volatile solvents, tmtterials containing asbestos or Ibrmaldchyde, and radioactive materials; (bt "Enviromnental Law" means fi:deral laws and laws of the jurisdiction where the Property is located that relate to health, safety or envircmnmntal protection; (ct "Environmental Cieanup" includes any response action, remedial action, or remov il action, as defined in Enviromnental Law; and (d) ali "Enviromuental Condition" means a condition, tlmt can cause, contribute to, or otherwise trigger ali Environmental Cleanup. Borrower shall not cause or :)ermit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substauces, on or iu tile Property. Borrower shall not do, nor allow anyone else to do, an?ruing affecting the Property (at that is id violation of any Environmental Law, (bt which creates an EnviLm,mental Condition, or (ct which, due to the presence, use, or release of a Hazardous Substa~me, creates a ?ndition that adversdy affects the value of the Property. The preceding two sentences shall not apply to the presence, nsc, or storage on the Property of small quantities of ttazardous Substances that are gc:nerally recognized to be appropriate to uornud residential uses and to tnaintenance of the Property (including, but not linfited to, hazardous substances in consomer products). Borrower shall promptly glv? Lender written notice of (at any investigation, claim, demand, lawsuit or other action by any govermnental or regulatory agency or private party involving the Property and any Hazardous Substance or Envh-o'nmental Law of which Borrower has actual klmwledge, (bt any Enviromnental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (ct any condition caused by the presence, usc or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any govermnental or regulat~r¥ authority, or any private party, flLat any removal or other remediation of any Hazardous Substance affcct!ng die Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Enviromnental Law. Noflliug herein shall create any obligation on Lender far an Enviromnental Cl,:anup. I~-eltWY) iooo¢~ Pa9~ 12 o~ 15 Form 3051 1/01 NON-UNIFORM COVEV,aNTS. Borrower and Lender fm'fl~er cove~tant and agree as follows: 22. Acceleration; Remedie:;. Lender shall give notice to Borrower prior to acceler.'ttion following Borrower's breach or any coveuant or agreement in this Security Instrument (but not prior to acceleration under Section 18 u!fless Applicable Law provides otherwise). The notice shall specify: (a) the defanlt; (b) the action req~fi'red to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrowe. r. by which the default must be cured; and (d) that failure to cure the default ou or before the date..,pecified in the notice may result in acceleratiou of the sums scented by this Security Instrument and s~,de of the Property. The notice shall l'mlher inform Borrower of the right to reinstate after acceleration and the right to briug a court action to assert the non-existence or a default or any other defens~ of Borrower to acceleration and sale. If the default is not cured on or before the date specified iu the notice, Leuder at its option may require immediate payment iu foil of all sums secured by this Secnrity Instrument without fnrther demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Leuder shall be entitled to collect all expenses iucnrred in pursning t?~e remedies provided in this Section 22, inclnding, but not limited to, reasonable attorneys' fees an!i costs of title evidence. Il' Lender iuvokes tile pcwer of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possess[on of the Property, il' different, in accordance with Applicable Law. Lender shall give notice of tl~e sale to Borrower in the manner provided in Sectiou 15. Leuder shall publish the notice of sale, avd the Property shall be sold iu the manner prescribed by Applic:dfle Law. Lender or its designee ~m'y pnrchase the Property at any sale. Tile proceeds of the sale shull be applied in the following order: (a) to all expenses or the sale, including, but uot limited to, reasonable attorneys' fees; (b~ t.o all sums secured by this Security Instrument; and (c) any excess to the person or persons legally emitled to it. 23. Release. Upon payme~nt of all sums secured 'by tiffs Security lnstrmnent, Lender shall release this Security Instrument. Borrower s~mll pay any recordation costs. Lender may charge Borrower a fee fi)r releasing this Security InstrUlnCnl but only if fl~e fee is paid to a flfird party for services ~'cndcrcd and the charging of fl~e fee is permitted u.,lder Applicable Law. 24. Waivers. Borrower'rt.leases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. (~-6(WY) Iooo5) Page 13 on 16 Form 3051 1/01 O~Oot/4~ 2[ i ", BY SIGNING BELOW, Borrower accepts and agrees to fl~¢ terms and covcmmts contained in this Security Instrument and in any Rider executed by Borrower and recorded wifl~ it. Wimesses: (Seal) ~ :~ ~ (Seal) PAMELA FAWN HOLDER 'J- -Bor,-owe~ (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (~6(WY) Page 14 o{ 15 Form 3051 1/01 STATE OF WYOMING, by The foregoing instrument ,~as acknowledged before me this ALAN D. HOLDER AND PAMELA FAWN HOLDER County ss: My Conmtission Expires: Notary Public i HL :LL~f SAM~H.L · ~OTA,RY PUBLIC (~-6G(WY) (ooo6) Pag,~sof16 Form 3051 1/01