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Return To: WELLS FARGO HOME MORTGAGE 3601 MINNESOTA DR. SUITE 200 BLOOMINGTON, MN 55435 90079t F;'ECEIVED LINC, O! f! (.',OUMTY CLERI< Prepared By: COMMUNITY FIRST MORTGAGE, LLC 808 3RD AVE SOUTH,, 581030000 F:ARGO, ND BOOK ,56 l ap^m:, .... 0__ .1 o [Space Above This Lh~e For Recording Data] MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this docmnent are also provided in Section 16. (A) "Security Instrument" means this document, which is dated dULY 0 6, together with all Riders to this document. (B) "Borrower" is MARION BURGIN, A MARRIED PERSON 2004 Borrower is'the mortgagor under this Security Instrument. (C) "Lender" is COMMUNITY' FIRST MORTGAGE, LLC Lender is a LIMITED LIA~IILITY COMPANY organized and existing under the laws of THE STATE OF DELAWARE 00432D5616 WYOMING-Single FamiyFannie Mae/Freddie Mac UNIFORM INSTRUMENT (~)®-6(WY) iooo51 VMP M()%ITGAG£ FORMS- {8OO}52 Form 3051 1101 Lender's address is P.O. t~ox 10304, DES MOINES, IA 503060304 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promir;sory note signed by Borrower and datedfftJLY 06, 200o, The Note states that Borrower owes Lender THIRTY EIGHT THOUSAND &.ND 00/100 Dollm-s (U.S. $ * * ** * 38,00 o. o o. ) plus interest. Borrower bas promised lo pay this debt in regular Periodic Payments and to pay the deb! in full not later than 3,UGUST 01, 2034 (E) "Property" means the l:r6perty that is described below under the heading "Transfer of Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, ,'md all ~ums due under this Security Instrument, plus interest. (G) "Riders" metros all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicabtel: ~ Adjustable Rate Rider ~---~ Condominium Rider [~] Second Home Rider [--] Balloon Rider [--~ Plam~ed Unit Development Rider ~-] 1-4 Family Rider [--] VA Rider .~] Biweekly Payment Rider {--] Other(s) [specify] (H) "Applicable Law" mea~s all cOntrolling applicable federal, state and local statutes, regulations, ordinances and a&ninistrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinio.,.~s. (l) "Commtmity Association Dues, Fees, and Assessnients" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominit,m association, homeowners association or similar organizaiion. (J) "Electronic Funds Tra"nsfer" means any transfer of funds, other than a transaction originated by check, draft, Or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by. telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow ltents" means l!hose items that are described in Section 3. (L) "Miscellaneous Proceeds" meaus any compensation, settlement, award of damages, or proceeds paid by any third party (other thzn insurance, proceeds paid under the coverages described in Section 5) for: (i) dan~age to, or destruction of,. the Property; (ii) condenmation or other taking of all or any part of the PrOperty; (iii) convey,mce in lieu of Condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the. Property. (Mr) "Mortgage Insurance": means insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled mnount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (O) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 el seq.) and its implementing regulation, Rcgalation X (24 C.F.R. Part 3500), as they might be mnended from time to time, or any additional or successor legislation or regulation that governs the 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 tnortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (~-6(W¥) Iooo5) Form 3051 1/01 015 (P) "Successor in Interest of Borrower" means any party that has taken title to tim Property, whether or not that party has assumed. Botxower's obligations under the Note and/or tlfis Security Instrument. TRANSFER OF RIGItTS IN THE PROPERTY This Security Instmrnent secu:es to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender and Lender's sukcess0i's and assigns, with power of sale, the following described property located in the COUNTY · of LINCOLN : (Type of Recording luri.sdiction] [Name of Recording Jurisdiction] SEE ATTACHED LEGAL DESCRIPTION THIS IS A PURCHASE MONEY SECURITY INSTRUMENT. TAX STATEMENTS SHOULD BE SENT TO: WELLS FARGO HOME MORTGAGE, 10304, DES MOINES, IA 503060304 P.O. BOX Parcel ID Number: 3i3 EMERALD ST KEMMERER ("Property Address"): which currently has the address of [Street] [City] , Wyoming 8 3101 [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, anti fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Pr.0perty." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that thc Property is unencumbered, except for encumbrances of record. Borrower warrants and will de/end generally the title .to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants ('or national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Pay~nent of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due Under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrmnent received by Lender as payment under the Note or this (~}~6(WY) 1oo05~ Page 3 of 15 Form 3051 1/01 Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and thi's Security Instrument be made in one or more of tile following forms, as selected by. Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumel~tality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be'designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficieut to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of m~y rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled dne date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower m~&es payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal bflance under the Note immediately prior to foreclosure. No offset or claim which Borrower nfight have now or in the fu'ture against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or perforn-fing the covenants and agreements secured by this Security Instrument. 2. Application of Payn~ents or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) pri~$cipal due under the Note; (c) anlounts due under Section 3. Such payments shall .be applied to each Per?o3ic Payment in the order in which it became due. Any remaining mr~ounts shall be applied first to late e:harges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than 'one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments it', and to the extent that, each payment cml be paid in full. To the extent tl~at' any excess exists after the payment is applied to the lull payment of one or more Periodic Payments, suc'h excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayn'.ent charges and then as described in the Note. Any application of pay~.n~nts, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change thc an~ount, of the Periodic Pay~nents. 3. Funds for Escrow iltenzs. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the No:e is paid in full, asum (the "Funds") to provide 1-bt payment of amounts due for: (a) taxes and assessments m~d other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on tile Property, if any; (c) premiums for any and all i}.~surance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance prelniums in accordance with' the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the koan, L~nder may require that Cotmnunity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, tees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amonnts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Vtinds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of sucL waiver, Borrower shall pay directly, when and where payable, the an~ounts (~-6(WY) Iooo.~) :, vaae 4 oi ,5 Form 3051 1/01 due for any Escrow Items for which payment of Funds has becu waived by Lender and, if Lender requires, shall furnish to Lender receipt.,', evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security'Instrument, as the phrase "covenant and agreement" is used in Section 9. If Bon'ower is obligated to pay Escrow hems directly, pursuant to a waiver, and Borrower fails to pay tim amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and B6nower shall then be obligated under Section 9 to repay to Lender any such mnount. Lender may revoke tile waiver as to any or all Escrow Itt:ms at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then req'.dred under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to pernfit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum ~amount a lender cml require under RESPA. Lender shall estimate tbe amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be h'eld in an institution 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 Funds to pay tile Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applyiug the Funds, annually analyzing the escrow accbunt, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall uot be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to, make up the shortage in accordauce with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required By RESPA, and Borrower shall pay to Lender the an~ount necessary to make up the'deficiency in accordmme with RESPA, but in no more than 12 monthly payments. Upon payment in full ol' all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held l~y Lender. 4. Charges; Liens. Bc',rrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property wtv. ch can attain priority over this Secm'ity Instrument, leasehold pay~nents or ground 'rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writin'g to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreeinent; (b) contests the lien in good faith by, or.defends against entbrce~eut of the lien in, legal proceediugs which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are peuding, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender 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 the (~I~-6(WY) looos} Pa§e 5 o~ ]5 Form 3051 1/01 lien. Within 10 days of the date' on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth abdve in this Section 4. Lender xnay require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection With this Loan. 5.' lh'operty Insurance.' Borrower shall keep the i~nprovements now existing or hereafter erected on the property insured against .loss by fire, hazards included within the term "extended coverage," and any other hazards including, but nc~t limited to, earthquakes and floods, tbr which Lender rcqnircs insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the l'~oan. The insurance carder providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, ir connection with this Loan, either: (a) a one-time charge lbr flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone deternfination and certification services and subsequent charges each time remappings or similar changes occur which reasonably nfight affect sucl] determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting t¥om an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is nnder no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrow, er's equity in the Property, or thc contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously itl effect. Borrower acknowledges that the cost c,f'the insurance coverage so obtained might significantly exceed tile cost of insurance that Borrower could ~aave obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of BOrrower secured by this Security Instrument. These amounts shall bear interest at the Note rate front the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as 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 promptly give to Lender all receipts of paid premiunm and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destructio~,~ of, the Property, such policy shall include a standard tnortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. = In the event of loss, Bcrrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or rep'air of the Property, if the restoration or repair is econonfically feasible and Lender's security is not lesseaed. During such repair mid restoration period, Lender shall have the right to hold such insurance proceed.'; nntil Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertakeu promptly. Lender may disbu,-se proceeds for the repairs mid restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid o'~t 'such iusurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on sucil proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not he paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is net economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security lnstmmeut, whether or not then due, with ~6(WY} (ooos) Page6o115 Form 3051 1/01 019 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided tbr in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice fi-om Lender that the insurance carrier has offered m settle a claim, then Lender may negotiate and settle the claim. Tire 30-day period will begin when tile notice is given. II1 either event, or if Lender acquires the Property under Section 22 or otherwise, Bor'rower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to. exceed the amounts unpaid under tile Note or this Security Instrument, and (b) any other of Borrower's'fights (othe? than the right to any ret~nd of unearned premiums paid by Borrower) under all insuranca'policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under ~he Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrowe:: shall occupy, establish, and use tile Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and Shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupmlcy, unless Lender otherwise agrees in writing, 'which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are.beyond Borrower's control. 7. Preservation, Maint'enanee and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair tl:e Property, allow the Property to deteriorate or commit waste on tile Property. Whether or not Borrower is residing in the Property, Borrower shall maintain tile Property in order to prevent tire Property, £rom deteriorating or decreasing in wdue 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 avoid further deterioration or damage. If insurance or condemnation proceeds are p?dd in connection with damage to, or the faking 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 tbr the repairs and restoration in a single payment or in a series of progress payments as the work' is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower'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 ma~' inspect the interior of tile improvements on the Property. Lender shall give Borrower notice at the time of tlr prior to such ail interior inspection specifying sucb reasonable cause. 8. Borrower's Loan Alyplication. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction Of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender'.,; Interest in the Property and Rights 'Under this Security Instrument. If (a) Borrower fails to perform.the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower' has abandoned the Property, then Lender may do and pay lbr whatever is reasonable or appropriate to, protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing tile value of thc Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sunm secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable (~)~-6(WY) 1ooo5) [ Page 7 of 15 Form 3051 1/01 attorneys' fees to protect its m~erest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing thc Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building, or other code violations or dangerous conditions, and have utilities turued on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under ,any duty or obligation'to do so. It is agreed that Lender incurs no liability fbr not taking any or all actions authorized under this S~ction 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provtsions of the lease. If Borrower acquires fb.e title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger ia'writing. 10. Mortgage Insurante, If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage lusurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for ~ortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equiwdent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from ail alternate mortgage insurer selected by. Lender. If substantially equivalent Ivlortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundahle loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is uhimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated paylner'ts toward the prenfimns for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of .making the Loan and Borrower was required to make separately designated payments toward the premit~ms for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a nonm:fundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such ter~nination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower'~ obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain iosses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force 'from time to time, and may enter into agreements with oth ~.r parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the moitgage insurer and the other party (or parties) to these agreements. These agree~nents may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of tile Note, another insurer, any reinsurer, any other entity, or any affiha.te of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be cha_racterized 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 agreelnent provides that an affiliate of:Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: la) Any such agreemerts will not affect the amonnts that Borrower has agreed to pay for Mortgage Insurance, or ani/ other terms of the Loan. Sncb agreements will not increase the amonnt Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. l:~-6¢wY) iooo5~ Form 3051 1101 (b) Any such agreemen~ts will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under ttite Homeowners Protection Act or 1998 or any other law. These rights may include the right to i'eceive certain disclosures, to request and obtain cancellation of the . Mortgage Insurance, to hay& the Mortgage Insurance terminated auto~natically, and/or to receive a refund of any Mortgage Insui'ance premimns that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to; Leuder. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoraticr't or repair is economically feasible and Lender's security is not lessened. During such repair and restorat.ion period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an oppc. rtunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, providedI that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is inade in writing 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 the irestoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with. [he excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total '!aking~, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applierl to thee sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial :vking, destruction, or loss in value of the Property in which the lair market value of the Property irmnedihtely before the partial taking, destruction, or loss in value is equal to or greater than the amount of die sums secured by this Security Instrument immediately before the partial taking, destruction, or loss itt value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following l?raction: (a) the total mnount of the sums secured immediately before the partial taking, destruction, or ~oss in valUe divided by (b) thc fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balauce shall be paid to Borrower. In the event of a partial :.aking, destruction, or loss in value of the Property in which the fair market value of the Property immedih~ely before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately befbre the partial taking, destruction, or loss in value, unless Borrower and Lender otherwiae agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is aban~loned by Borrower, or if, after notice by Lender to Borrower that the 'Opposing Party (as defined i~', 'the next sentence) offers to inake an award to settle a claim tbr damages, Borrower fails to respond to Leuder within 30 days after the date the notice is given, Lender is anthorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security i[ilstrumeqt, whether or not then due. "Opposing PartY" means the third party that owes Borrower Miscellarteous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in deth;llt if any action' or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or righ;s under this Security Instrument. Borrower can cure such a default ami, if acceleration has occurred, reiiastate as provided in Section 19, by causing the action or proceeding to be disnfissed with a ruling that, ,n Lender's judgment, precludes l'orfeiture of the Property or other material impairment of Lender's interes; in the Property or rights under this Security Instrument. The proceeds of any award or claim tbr damages that are attributable to the impaim~ent of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proce:eds fl~at are not applied 'to restoration or repair of the Property shall be applied in the order provided fcr itt Section 2. (~-6(WY) 10005) Page 9 of ~5 Form 3051 1/01 0©r) 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of thc time payment or modification of ara0rtization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest ~f Borrower. Lender shall not be required to conm~ence proceedings against any Successor in Interest of Borrower or to refuse' to exlend time tbr payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any delnand made by the original Borrower or any Successors i~,~ h~terest of Borrower. Any tbrbcarancc by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments l¥om third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint arrd Several Liability; Co-signers; Successors ami Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instraro;mt but does not execute the Note (a "co-signer"): (a) is co-sigmng this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees thai Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Secnrity Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor iii Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be 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 Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges.' Lender may charge Borrower tees 'for services pertbrmed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorueys' fees, property inspection and valuation fees. In regard to any other fees, th~ absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such tee. Lender may not charge fees that are expressly prohibi;ed by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected ill connection with the Loan exceed the permitted limits, then: (a) an/ such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; ,and (b) any sums already collected from Borrower which exceeded permitted linfits will be refunded to Borrower. Lender may choose ~o make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as. a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided tbr under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices :given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice'to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower ;vhen mailed by first class mail or when actually delivered to Borrower's notice address if sent by othe;' means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expresslY requires otherwise. The notice address shall be the Property Address unless Borrower has designat,:d a substitute notice address by notice to Lender.. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borr¢~wer shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to kender's address stated herein unless Lender I~as designated another address by notice to Borrower. Any notice m connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law reqnirement will satisfy the corresponding requirement under this Security Instrument. (~-6(WY) (ooos) P.o~ ~oo~s Form 30'51 1101 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction m which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the 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 the event that any provision ~r clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Securit/ Instrmnent: (a) words of the masculine gender shall mean and include con'esponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. ' 17. Borrower's Copy. Bo:rower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" me~'ns any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of'which is the transfer of title by Borrower at a future 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 transferred) without Lender's prior written consent, Lender may require irmnediate payment in full of all sums secured by this Security Instrument. However, this option 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 notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must,pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right tr Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right: ~o have enforcement of this Security Instrument discontilmed at any Ii,ne prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b),such other period as Applicable Law nfight specil~, for the termination of Borrower's right to reinstate; 'or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums xvhich then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred /'or the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continueun~zhanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order: (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are. insared by a federal agency, instrmnentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective a5 if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale nfight result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under: the Note and this Security Instrument and perforn~s other mortgage loan servicing obligations under the Note, this Security Instrumeut, and Applicable Law. There also might be one or more changes of the L,')an Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be giuen written notice of the change which will state the nan~e and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA (~-6(WY) tooo5) Paeo ~ of ~5 Form 3051 1/01 requires in connection with a notice of transfer of servicing, If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are'not assumed by the Note purchas6r unless otherwise provided by the Note purchaser. Neither Borrower nor Lerider may conm~ence, jmn, or be joined to any judicial action (as either an individual litigant or the mcmSer of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and aflbrded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certmn action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity 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 the notice and opportumty to take corrective action provisions of this Sectiox~ 20. 21. Hazardous Substam:es. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollut,'mts, or wastes by Environmental Law and tlte following substances: gasoline, kerosene, other flammable or toxic petrgleum products, toxic pesticides and herbicides, volatile solvent& materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmeiaal Law" me3ns federal laws and laws of the jurisdiction where the Property is located that relate to health., safety or environmental protection; (c) "Environmental Cleannp" includes any response action, remedial action, or re. re. oval action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply,to the presence, use, or storage ou the Property of small quantities of Hazardous Snbstances that are. generally recognized to be appropriate to normal residential uses and to maintenance of tile Property (including, but not linfited to, hazardous substances in consumer products). ~Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any govenlm:tental or regulatory agency or private party involving the Property and any Hazardous Substance or E~viromnental Law of which Borrower has actual 'knowledge, (b) any Enviromnental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regula.ory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordan'ce with Environmental Law. Nothing herein shall create any obligation on Lender for an Enviromnental Cleanup. Form 3051 1/01 NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrmnent (but not prior to acceleration under Section 1L~ unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default nmst I)e cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrmnent and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further denmnd and may invoke the power of sale and any other remedies!permitted by Applicable Law. Lender shall be' entitled to collect all expenses incurred in pursuin~ the remedies provided in this Section 22, iucluding, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sa!e, Lender shall give notice of intent to foreclose to Borrower and to the person in possessi.on of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, a~d the Property shall be sold in the ~nanner prescribed by Applicable Law. Lender Or its riesignee nmy purchase the Property at any sale. The proceeds of the sale shall be applied in the followiog order: (a) to all expenses of the sale, inclnding, but not limited to, reasonable attorneys' fees; (bl, to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon paYment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrumdnt, but only if the fee is paid to a dfird party for services rendered and the charging of the fee is pennitte:lunder Applicable Law. 24. Waivers. Borrower releases and Waives all rights under and by virtue of the homestead exemption laws of Wyoming. (~-6(WY) Iooos} Page 13 of 15 Form 3051 1/01 BY SIGNING BELOW, Borrower accepts m~d agrees to the terms and covenants contained in this Security Instrument and in an,~ Rider executed by Borrower and recorded with it. Witnesses: '"~ O~,t,[-C3% ~ (Seal) MARION BURGIN -Borrower (Seal) -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (~6(WY) (0005) Page 14 of 15 Form 3051 1/01 STATE OF WYOMING, The foregoing instrument was acknowledged before me tiffs by MARION BURGIN County ss: My Cormnission EXpires: (~-6GIWY) iooosl Pagelfof 15 Form 3051 1/01 Legal Description Lots 1, 2 and 3 of Block 6 to the Town of Kemmerer, Lincoln County, Wyomin.g, EXCEPTING THEREFROM the lands described in Book 349PR on page 559 and in Book 426PR on page 10 of the records of the Lincoln County Clerk, being formerly described as the Easterly one-third (E 1/3) of Lots 1, 2 and 3 of Block 6 to the Town of Kemmerer, Lincoln County, Wyoming. '~ ~ ~2~x~, MORTGAGE ADDENDUM 0 00 The following m an Addendum to the Morlgage. The addendum shall be incorporated into, arid recorded with, the Mortgage. TAX EXEMPT FINANCING RIDER This Tax-Exempt Financing Rider is incorporated into and shall be deemed to amend the terms ot the Mortgage to which it is attached. In addition to the covenants and agreements made in the Security instrument, Borrower and Lende-: further covenant and agree as follows: Lender, or such of its successors or assigns as ~nay, by separate instrument, assume responsibility for assuring compliance by the Borrower with the provisions of this Tax Exempt Financing Rider, may require immediate payment tn full of ali sums secured by this Security Instrument if: a) All of part of the Property sold or otherwise transferred (other than by devise, descent or operation of law) by Borrower to a purchaser or other transferee: Who cannot reasonably be expected to occupy the property as a principal resident within a reasonable time after the sate cr transfer, all as provided in Section 143(c} and {i} {2} of the Internal Revenue Code; or b) e) ii) Who has had a present ownership interest in a principal residence during any part of the three year period ending on the date of the sale or transfer, all as provided in Section 143(d} and (i) (2} of the Internal Revenue Code; or iii) g.t an acquisition cost which is greater than 90 percent of the average area purchase price {greater than 110 percent for targeted area residences), all as provided in Section 143(e} an:d. (i) (2} of the Internal Revenue Code; or iv) Whose family income exceeds applicable income limits as provided in Section 143(0 and (il (2) of the Internal Revenue Qode. Borrowe: fails to occupy the property described in the Security Instrument without prior written consent of the lender or its successors or' assigns described at the beginning of this Tax Exemp': Financing Rider, or Borrowe:: omits or misrepresents a fact that is material with respect to the provisions of Section 143 of the Internal Revenue Code in an application for the loan secured by this Security Instrument. References are to thc Internal Revenue Code as amended, in effect on the date of execution of the Security Instrument and are deemed to include the implementing regula :ions. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions in this Tax-Exempt. Financing Rider. MPP 210-B (Revised 12/95) Borrower