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HomeMy WebLinkAbout900874After Recording Remm To: COUNTRYWIDE HOME LOANS, INC. MS SV-79 DOCUMENT PROCESSING P.O.BoX 10423 Van Nuys, CA 91410-0423 Prepared By: MIMI NOEL t;ECEIVED LII,~(,, I~.: CO li',Th" CLERK [Space Above This Lh:m For Recocdi.g Dais] 11851 'Escrow/Closing #] MORTGAGE MIN 00005707236707004 [Doc ID ~] 1000157-0003876604-0 DEFINITIONS Words used in multiple sections or, this document m'e defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document m'e also provided in Section 16. (A) "Security h~strument" means this document, which is dated JULY 06, 2004 , together with all Riders to this document, (B) "Borrower" is ROBERT W PINTER JR, AND TRACI L PINTER husband and wife Borrower is the mortgagor under this Security Iustrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separ.'~te co,'poralion that is acting solely as a nominee for Lender, i and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized aRd existing under the laws of Delawm'e, and has an address and telephone number of P.O. Box 2026, Flint, Mt 48501-2026, tel. (888) 679-MERS. (D) "Lender" is AMERICA'S WHOLESALE LENDER Lender is a CORPORATION organized and existing under the laws of NEW YORK Lender's address is ~: P.O. Box 660694, Dallas,' TX 75266-0694 (E) "Note" means the promissory note signed by Borrower and dated JULY 06, 2004 . Tile Note states that Borrower owes Leflder ONE HUNDRED FIVE THOUSAND SIK HUNDRED and 00/100 Dollars (U]S. $ 105,600.00 ) plus interest. Borrower has l)romised to pay this debt i, regular Perio'dic payments and to pay th: debt in full not later than AUGUST 01, 203 zl (F) "Pruperty" means the property that is described below unde,' the heading "Transfer of Rights in the Property." WYOMING-Single Family-Fannie Ma.e/Freddie Mac UNIFORM INSTRUMENT WITH MERS ' Page1 of11 initlals:~ (~)®-6A(WY) (0005) CHL (08/0C)(d) VMP MORTGAGE FORMS - (800)521-7291 Form 3051 1/01 CONY/VA *23991 * * 057072367000002006A* DOC ID #: 000'05707236707004 (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plu.~ interest. tH) "Riders" means all Riders to this Security Instmmenl that are executed by Bon'ower. The followiog Riders are to be executed by Bcrrower [check box as applicable]: [-'-] Adjustable Rate Rider [---] Condominium Rider ~-~ Second Home Rider [~] Balloon Rider [-7-] Planned Unit Developmeut Rider [---] 1-4 Family Rider [---] VA Rider [---] Biweekly Payment Rider [--] Other(s) [specifyl ti) "Applicable Law" means all controlling applicable federal, slate and lo~al statutes, regulations, ordinances and ad~ninistrative t'ules and orders (that have the elTect of law) as well as all applicable final, nod-appealable judicial opinions. (J) "Conmmnity Associalion Dues, Fees, and Assesssnenls" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condomisfium associatioo, homeowners association or similar org,'mization. (K) "Electronic Fnnds Trans;!erc' means any transfer of funds, other than a transaction originated by check, draft, or simihtr paper instrument which is initiated through an electronic terminal, telephooic instrumeut, compmer, or magnetic tape so as'to order, instruct, or authorize a financml institution to del)il or credit an account. Such term includes, but is not limited lo, point-ol'-sale transfers, automated teller machiue transactions, transfers initiated 'by telephone, wire transfers, aud automated clcaringl~ouse uausfers. eL) "Escrow Items" means those items thai are described in Section 3. tM) "Miscellaneous Proceeds" means any compensation, setdement, award of damages, or proceeds paid by any third party (other than insurmme proceeds paid under the coverages described in Section 5) for: ti) damage to, or destruction of, the Property, (ii) condemnation or olber laking of all or any part of the Property; (iii) conveyance in lieu of coudemnafiou; or (iv) misrepresentations et'. or omissions as to, the value and/or condition of the Property. tN) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or defimlt on, the Loan. (O) "Periodic Pay~nent" mca'as die regularly scheduled arnonn~ due for ti) principal ami interest under the Note, plus (ii) any amounts under Sectioo 3 of this Security Instrumcnl. (P) "RESPA" means the Real Estate Setdement Procedures Act ~12 U.S.C. Section 2601 el seq.) and its implementing regulation, Regn alien X (24 C.F.R. Part 3500), as they might be amended from time to rune, or any additional or successor legislation or regulation that governs the same subject matter. As used in tiffs Security Instrument, "RESPA' refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does uot qualify as a 'Tederally related mortgage lomb" tinder RESPA. (Q) "Successor in lnterest of Borrower" means any party that has taken title to ihe Property, whether or not that party has assumed Borrower's obligatious under the Note and/or ihis Security Instrument. T1LttNSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: ti) the repayment el: the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenaiits and agreements udder this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, gram and convey to MERS (solely as nominee for Lender and Lender's successors and assignsl and to the successors and assigus of MERS, with power of sale. the following described property localetl in the COUNTY of LINCOLN : [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] LOT 1 OF BLOCK 12 OF LINCOLN HEIGHTS 4TH SUBDIVISION TO THE TOWN OF KEIvliVlERER, LINCOLN COUNTY, WYOMING AS DESCRIBED ON Tile OFFICIAL PLAT TItEREOF. Parcel ID Number: Wyoming 8 3101 [Zip Code] 1423 CANYON ROAD, [Street]City] ("Prope,'ty Add~ ess ') KE[qNERER which currently has tbe address of (~®-6A(WY) (0oo5) CHL (08/30) Page Form 3051 1/01 DOC ID #: 00005707236707004 TOGETIIER WITH all the Improvements now or hereafter erected on tile property, and all easements, appnr[enm~ces, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instalment. All of tile foregoing is referred to in this Security hmtrument tls "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security lnstm'mCut, but, if necessary to comply with law or custom, MERS (as nominee lbr Lender and Lender's successors arid assigns) has lhe right: to exercise any or all of those interests, inchnling, but not limited to, the right to fo'reclose and sell the Property; ami to lake any action required of Lender including, but not limited to, relea., lng ,'md canceling this Security lnsmmmnt. BOILROWER COVENANTS that Borrower is lawfully seised t}f tile estate hereby conveyed and has the right to mortgage, grant and' cenvey the Property and that the Property is unencumbered, except lbr encumbrances of record. Borrower warrants and will defend geuerally thc title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national nsc and non-uniform covenants with limited variations by jurisdictiou to constitute a unifom] security insu'ument covering real property. UNIFORM COVENANTS. Bon'ower trod Lender covenant lind agree as follows: 1. Payment of Principal, -~nterest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the princi['al of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due uuder the Note. Borrower shall also pay funds lbr Escrow Items pursuant to Section 3. Payments due under the Note and dfis Security lnstmnlent shall be made in U.S. cm'rency. However, if m~y check or othe: instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may reqmre that auy or all subsequent payments due under the Note and this Security InstrUment be marie in one or more of Itle 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 instltution whose deposits are insured hy a federal agency, instrumentality, or entity; or rd) Electronic Funds Transfer. Payments are deemed rece wed by Lender when received at the location designated in the Note or at such other location as may be design,areal by Lender iu accordance with the notice provisions in Section 15. Lender may return auy payment or pm tial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accepl any payment or partial paymeut iusufficient 'to bring the Loan curt'cut, without waiver of any rights he:eunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligt~ted to apply such paymeuts at the time such payments are accepted. It' each Periodic Payment is applied as o.; its scheduled due date, then Lender need not pay interest ou unapplied funds. Lender may hold such unapplied fxmds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such hinds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to forei:losure. No offset or c],'fim which Borrower might have now or in the l~.tture against Lender shall relieve Borrower fi'om making payments due under the Note and this Security Instrument or performing tile covenants ,'md agreements secured by this Securily Iustrument. 2. Application of Paymer!ls or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied iu the following order of priority: (a) iuterest due uuder the Note; (b) principal tine under th~ ·Note; (c) amounts due under Section 3. Such payments shall be al)plied to each Periodic Payment iu the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security h~stmmeut, and then to reduce the principal balance of the Note. If Lender receives a payment fi'om Borrower for a deliuqucnt Periodic Payment which includes a sufficient amount to pay arty late charge dne, the payment may be applied to tile delioquent payment and tile late charge. If more than one P¢:riodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to thc extent that, each payment can be paid in 1%11. To the extent that any excess exists after the payment is al)plied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment 9harges and then as described in the Note. Any application of paym%~ts, insurance proceeds, or Miscellaueous Proceeds to principal due under the Note shall not extend or postpox, e:the due date, or change the amount, of tim Periodic Payments. 3, Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in. full, a sum (the "Funds") to provide for payment of amounts title for: (ti) taxes trod assessments and other items which can attain priority over this Security Instrument as a lieu or 'encmnbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance require, d by Lender under Section 5; and rd) Mortgage Insurance premimns, it' any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions 3f Section 10. These items are called "Escrow Items." At origination or at any · time during the term of the Lo:m, Lender may require that Commnnity Association Dues, Fees, and Assessments, if any, be escrowed bY Borrower, and such dues, fees ami assessments shall be an Escrow Item. Borrower shall promptly fin-nisL to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow ).terns unless Lender waives Borrower's obligation to pay tile Funds for any or all Escrow Items. Lender mfy waive Borrower's obligation to pay to Lender Funds tbr any or 'all Escrow Page 3 of 11 Form 3051 1/01 DOC ID #: 00005707236:/07004 Items at any time. Any such waiver may only be in writing. In tile event of such waiver} Borrower shall pay directly, when and where payable,: the amonnts due for ,'my Escrow Items for which payment of Punds has been waived by Lender and, il' Lender requires, shall fiimish to Lender receipts 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 b~ deemed to be a covenant and agreement comained in Ibis Security Instrument, as the phrase "covent~at a~ld agreement" is used in Section 9. Il' Borrower is obligated to pay Escrow Items directly, pursuant to! a waiver, and Borrower fails to pay the amonnt due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amonnt and Borrower shall then be obligated under Section 9 to repay to Lendei' any such amonnt. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice give~! in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in sucu amounts, that are then required under this Section 3. Lender may, at auy time, collect and hold Funds in an amotlnt (ti) sufficient to permit Leuder to apply the Funds at the time specified under RESPA, and (bi not to exceed the maximum amount a lender can require under RESPA. Lender sh~dl estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of fur ire Escrow Items or odierwise in accordance with Applicable Law. The Funds shall be held ir an institution whose deposits sire insured by a federal agency, instrumentality, or entity (including Lender, if Leto!let is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the dine specified under RESPA. Lender shall uot charge Borrower for holdiug and applying the Funds, annually analyzing the escrow account, or verifying the Escrew items, nnless Lender pays Borrower interest on the Funds and Applicable Law perinits Lender to make such a charge. Unless an agreement is made in Writing o,' Applicable Law requires interest to be paid on tile Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, dmt interest shall be paid on the Fnnds. Lender shall give to Bun;ewer, .witt)out charge, an annual accounting-of the Funds as required by RESPA. If there is a surplus of Furds held in escrow, as defined under ILESPA, Lender shall account to Borrower for the excess fimds in accordanc6 with RESPA. If there is a shortage of Funds held in escrow, sis defined · under RESPA, Lender shall notff~ Borrower as required by RESPA, a~Dd Borrower shall pay to Lender the amount necessary to make lip:. the. shorlage itl accordance with RESPA, but in no more tlnm 1'2 monthly payments. If there is a deficiehcy of Fuuds held in escrow, as defined uuder RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amom~t necessary to make tip the deficiency in accordance with F ESPA, but in no more than 12 monlhly payments. Upon payment in dali of all sums secured by this Security Instrument, Lender shall promptly refnnd to Borrower any Funds held by Lender. 4. Chnrges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attriln,table to the Property which can attain priority over this Security histrument, leasehold payments or grou~id rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Bon'ower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over ibis Security hlstrunaent unless Borrower: (a) agrees in writing·to Ihe payment of the obligation secured by Ihe lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (bi contests the lieu in good faith by, or defends against enforcement oFthe lien in, legal proceedings which in Leoder's opinion operate to prevent die enforcement of the lien while tbosz proceedings are pending, but only nntil such proceedings are concluded; or (c) secures fi'om the holder of Ihe lien an agreement satisfi~ctory to Lender subordinating the lien to Ihis Security instrument If Lender'.det.:,'mines that any part of the Property is subject to a lien which can attain priority over tiffs Security Insmnnent, Lender may give Bon'ower a notice identifying the lien. Within 10 days of the date on which that notico is given, Borrower shall Satisfy tile lien or take one or more of the actions set forth abOve in this Section 4. Lender may require Borrowe~~ to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connoction with this Loan. 5. Property Insurance. l~orrower shall keep the improvements now existing or hereafter erected on tile Property insured against loss ky fire, hazards included within the term "extended coverage," and any other hazards including, but not lin:ited to, earthquakes and floods, for which Lender requires insurance. This insurance sh~l be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requireg pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providir,~g the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreaso,mbly. Lender may require Borrower to pay, in connection with this Los{n, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (bi a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably inight affect such determination or certification. Borrower shall tdso be responsible for the payment of any fees imposed by the Federal Emergency Manageincut Agency in connection with the review of any flood zone detemfination resulting from an objection by BOrrower. If Borrower fails to maij~tai,n any of the coverages described above, Lender may obtain insurance coverage, at Lender's option au.1 Borrower's expense. Lender is nnder no obligation to purchase any particular type or amount of coverage. The[refute, such coverage shall cove,' Lender, but might or might not protect Borrower, Borrower's equity ~n t:he Property, or the contents of tim Property, against any risk, hazard (~I®-fiA(WY} (ooo5) GIlL (08/0)) Page 4 of 11 Form 3051 1/01 ..'>815 DOC ID #: 0000570723670700-'t or liability and might provide greater or lesser coverage than was p,'eviously in effect. Borrower acknowledges that the cost of the insurance c:overage so obtained might sigoilicantly exceed the cost of insurance that Borrower could have obtaiued. Any anmunts disbursed by Lender uuder Ihis Section 5 shall become additional debt of Borrower secured by this Security instrument. These amou,'lts shall bear interest at the Note rate from the date of disbumement and ~;l~all be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender mid renewals of such policies shall be subject to Lendel:'s fight to disapprove such policies, sh;dl include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss pay.ze. Lender shall have the right to hold tile policies and reuewal certificates. If Lender requires, Borrower shall-pfc raptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of: insurance coverage, not otherwise required by Leuder, for damage to, or restoration of, the Property, such policy shall incfude a standm'd mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Uuless Leader and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying iusurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Leuder's secufi ty is not lessened. During such repair and restoration period, Lender shall have the right to hold such iusurance proceeds until Lender has had an opportunity to respect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspectiou shall be undertaken prompdy. Lender may disburse proceeds for the repairs and restoration in a single payment or ill a series of progress payments as the work is completed. Unless an agreement is made in wntiug or Applicable Law requires iuterest to be paid on such insurance proceetis, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Bo,'rower. If the restoratiou or repair is riot economic~flly feasible or Lende'r's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security I0strament, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall b': applied in the order provided for in Section 2, if Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrowe~ does not respond within 30 days to a notice from Lender that the i~surance carrier has offered to settle a c3~m, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amouut not to exceed the amounts unpaid tinder the Note or this Security Instrument, anti (b)' any other of Borrower's rights (other than tbe right to any re.fi~nd of tmem-nefl premiums paid by Borrower) under all insurance policies covering the Property, insofar t's such rights are applicable to the coverage of the Property. Lender amy 'use the insurance proceeds either to'relY, air or restore the Property or to pay amounts unpaid uuder the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence w~thin 60 days after the execution of riffs Security hmtrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, nnless Lender otherwise agrees in writing, which consew, shall not be unreasonably withheld, or imless extenuating circumstauces exist wbich are beyond Borrower's coutrol. 7. Preservation, Maintenance and Protection o1' the Property; Inspections. Borrower shall not destroy, damage or impair tile i~ro_')erty, allow the Property to deteriorale or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its coudition. Unless it is determined pursuant to Section 5 that repair or restoration is not economi tally feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or' the taking of, tile Property, Borrower shall be responsible for repairing or restoring the Property o, dy if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment.or in a series of progress payments as the work is completed. If the insurance or .condemnauon proceeds are not sufficient to repair or restore tile Property, Borrower is not relieved of Borrowe. r's obligatiou for the completion ol' such repair or restoration. Lender or its agent may make reasouable entries al)on and inspections Of the Property. If it has reasonable cause, Lender may inspect the interior of the ~mprovements on the Property. Lender shall give Borrower notice at the time' of or prior to such an interior inspection specifyiug such reasonable cause. 8. Borrower's Loan Applicalion. Borrower shall be in lief null if, during the Loan application process, Borrower or any persons or entities acting at the direction of Bo,'rower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate iuformation or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representatious include, but are not limited to, representations concerning Borrower's occupaucy of the Property as Borrower's principal residence. · (~®-6A(WY) (ooos) GIlL (0~/0~) PaDa S o{ 1 ~ Form 3051 1/01 DOC ID #: 00005707236'70'/004 9. Protection of Lender's l'nlerest in file Property and Righls Under fids Security Instrument. If (al Borrower fails tO perforin the coveuants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might signilicantly affect Leuder's interest in rte Property aud/or rights under this Security Instrument (such as a Frocceding in bankruptcy, probate, roi' condemnation or forfeiture, for enforcement of a lien whichlmay attain priority over this Security lnsmmmnt or to euforce laws or regulations), or (c) Borrower '.las "ab,'md0ned the Property, theu Lender may do anti pay for whatever is reasonable or appropriate to prQtectlLender's interest in tile Property ami rights under this Security htstrument, including protecting ,'tad/of assessing/he value of the Property, ami securing and/or repairing the Property. Lender's actions can include, b;.a am not limited to: (al paying any sums secured by a lien which has priority over this Security Insu'ument; %) ;~ppearing in court; and (c) paying reasouable attorneys' fees to protect its interest in the Property ami/o: rights under this Security Instrument, including its secured position in a banka'uptcy proceeding. Securing tile Property includes, but is not limilcd to, entering the Prope,'ty tO make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate buikting or other code violations or dangerous couditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender,docs not have to do so and is ,tot uuder any duty or obligation m do' so. It is agreed that Lender incurs no liability for not taking any or all actions authorized nnder this Section 9. Any mnonnts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security hlstrument Tltese ,amomtts shall be~ interest at thc Note rate from tile. dale of disbursement and shall be payable; with such interesl, upon notice front Lender to Borrower requesting payment. If this Security Instmmcm is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to tile Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger m writing. 10. Mortgage Insurance. If Lender required Mortgage I,~surance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect If, for any reason, tile Mortgage Insurance coverage required by Lender ceases to be available from tile mortgage insurer that previously provided such insurance and Borrower was required m make separately desi~mated payments toward the premiums for Mortgage Insurance, Borrower shall pay tile premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously iu effect, alt a cost substantifdly equivalent to the cost to Borrower of the Mortg~.gc Insurance previously in effect, l¥oln an ahemate mortgage iusurer selected by Lender. If substantially equ3wdent Mortgage Insunmce coverage is not available, Bon'ower shall continue to pay to Lender the amount of thc sep,'u'ately designated payments that were due when the i~isurance coverage ceased to be in effect. Lender '.vii] accept, use and retain these paymelttS ax a non-refimdable loss reserve in lien of Mortgage Insurance. Su~h loss reserve shall be non-rcfnndablc, notwithstanding the fact flint thc Loan is ultimately 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 paynleuls if Mt)rtgage Insurance coverage (m tile amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lenc'er requires separately designated paymeuts towm'd the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make sep,'u'ately designated payments toward thc prcmitm'ls lbr Mortgage Insurance, Borrower shall pay the preminms required to maintain Mortgage Insurance in effect, or to provide a nou-refinldablc loss reserve, until Lender's requirement for Mortgage Insurance ends m accordfmce with any written agreement between Bon'ower and Lender providing for such termination or tmfil termination is required by Applicable Law. Nothing in this Section 1(' affi"~cts Borrower's obligation to pay interest at the rate provided in tile Note. Mortgage Insurance reimburses Lender (or any entity that purchases thc Note) for certaln losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluat'? their total risk on all such insurance m force from time to time, and may cuter into agreements wi tit other par.:ies ttlat share or modify their risk, or reduce losses. These agreements ,are on terms and conditions that are satisfactory to the mortgage insurer and the other pm'ty (or parties) to these agreements. These agreements ,nay require the mortgage insurer to make payments using any source of funds that tile mortgage rnsurer may have available (which may include fnnds obtained front Mortgage Insorance premiums). As a result of these agreements, Lender, any purchaser of tile Nolo, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Bon'ower's payments for Mortgage Insnrance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a shm-e of the premiums paid to the insurer, the arrangement is often termed "captive reinsorance." l~urlher: (a) Any snch agreements will not affect the annnmts that Borrower has agreed to pay for Morlgage Insurance, or any other terms of the Loan. Such agreements will not increase the mnonnt Borrower will owe l'or Mortgage Insurance, and they will not entitle Borrnwer Itl any rel'nnd. (~®-§A(,WY) (0005) CHL (08/00) Page 6 ot 11 Inttiats~. ""-~_~ Form 3051 1/01 DOC ID #: 00005707236707004 (b) Any such agreements will no/ affect lhe rights Borrower has - if any - with respect to the Mortgage lnsurnnce under thd Homeowners Protection Act of 1998 m' auy olher law. These rights may include tile right to receive certain disclosures, to request and oblnin cancellation or the Mortgage Insurance, to have the Mortgage lnsurnnee terminated automatically, and/or to receive n refund ur any Mortgage Insurance prelnimns that were unearned at the time or such cnncellafion or terminalion. 11. Assigmnent of Miscellaneous. Proceeds; Forfeilore. All Miscelhamous Proceeds are hereby assigned to and shall be paid to Lehder. If the Property is damaged, s'uch Miscellaneous Proceeds shall be applied to restoration or repair of tile Property, if tile restoration or repai~ is economically feasible and Lender's security is not lessened. During such repair and restoration period, Leader shall have the right to hold such Miscellaneous Proceeds until Lender h~ts' bad an opporlunity to inspect such Property to eusure the work has been completed to Leuder's satisfaction, provided that such inspection sbal! be undertaken promptly. Lemler may pay for the repairs and restoration in a single disbursement or in a seri~s of progress payments as the work is completed. Unless an agreement is made in writing Or Applicable Eaw requires interest to be paid on such Miscell~meouS Proceeds, Lender shall not be required to pay Borrowm~ any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasigl¢ or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured byl this Security h~stmment, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellane';ous Proceeds shall be applied in Ire order provided for in Seclion 2. In the event of a total taki'ngl, destruction, or loss in value of tile Property, the Miscellaneous Proceeds shall be applied to the sums securkd by this Security In:strument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before, the partial taking, destruction, or loss in value is equal to or greater than the amount of the stuns securer',by this Security Instnm~ent immediately before the partial taking, destruction, or loss in value, unless Borrower :and Lender otherwise agree in writing, the sums secured by this Secu,-ity Instrument shall be reduced by ()e'amom~t of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the smn's ~ecnred immediately before llle partial taking, destruction, or loss in value divided by (b) the fair market wdue of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In tile event of a partial taking, destruction, Or loss in value of the Property in which the fair market vah,e of the Property immediately before the partial tatting, destruction, or k)ss in value is less than the amouut of the sums secured immediately before the partial taking, destmctiou, or loss in value, nnless Borrower'and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whedler or not the Sums are then due. If the Property is abandoned by BOrrower, or if, after notice by Leuder to Borrower that the Opposing Party (as defined in the next sent. ex'ice) offers to make an award to settle a chfim for damages, Borrower fails to respond to Lender within 30 daS, s after the date the notice is given, Lenderis authorized to collect aud apply the Miscellaneous Proceeds either to restoration or rep,fir of the Property or to the sums secured by this Security Instrmnent, whed~er or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action iu regard to Miscelhmeous Proceeds. Bon'ower shall be in defa'ult if any action or proceeding, whether civil or crinfinal, is begun lhat, in Lender's judgment, could result'.in forfeiture of the Property or {)tiler material impairmeut of Lender's interest in tile Property or rights under lihi? Security Instnm~ent. Bon'ower eau cure such ti defauh and, if acceleration has occurred, reinstate as providec' in Section i9, by causing the actioo or proceeding to be dismissedwith a ruling that, in Lender's judgment, t,recludes forfeiture of the Property or other material 'impairment of Lender's interest in the Property or rigb.'ts under this Security Instrument. The proceeds of any award or claim for damages that are attributable to die impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceed~s th:it are not applied to restoration or repair of the Property shall be applied in the order provided for in Sectiofi 2. 12. Borrower Not Rele}),serl; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amc:rtlzat~on of the sums secured by this Security Instalment granted by Lender to Borrower or any Successor in Ip:tm~est of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Bom)Wet. Lender shall not be required to commence proceedings against any Successor in interest of Borrower Or to refuse to extend time for payment or otherwise modify amortizatioi~ of the sums secured by this Securi'.'y ~/ns~rument by reason of any demand made by the original Borrower or any Successors in hlterest of Borr°~ver Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acc~ep;ance of payments from third pers0us, entities or Successors iii Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of auy right or remedy. 13. Joint and Several Liability; Co-signerS; Successors and Assigns Bound. Borrower covemmls and agrees that Borrower's obligations ,'md liability shall be joint and several. However, any Borrower who co-signs tiffs Security Iustrumer. t 15'ut does not execute the Note (a "co-signer"): (a) is co-signing this Security (~®-6A(WY) (ooo5) CHL (08/00) Page 7 o~ 11 Form 3051 1/01 DOC ID #: 000057072B6707004 Instrument only to mortgage, gram and convey the co-signer's inlerest in the Property under tile terms el' this Security Instrument; (b) is not personally obligated to pay the sums secured by this Sect, rity b'lstrument; and (c) agrees that Lender and any other Borrower cml agree m extend, modify, forbear or make any acco~nmodations with regard to the terms of this Security Instrument or Ihe Note without tile co-signers consent.. Subject to the provisious of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations nnder this Security ~n. st?mnent in writing, and is approved by Lender, sh~dl obtain all of Borrower's rights and benefits under this security Insmnnent. Borrower shall not be released from Borrower's obligations arid liability tinder this Security Instrnment unless Lender agrees to such ,'elease in writing. Tile covenants and agreements of this Security lnsirument shall bind (except as provided in Section 20) and benefit tile successors and assigns of Lender. : :. 14. Loan Charges. Leu:let.may charge Borrower fees for services performed in connection with Borrower's default, for the pt:i-pose of protecting Lender's imerest in the Property and rights under this Security Instn, ment, including, but. not limited to, attorneys' fees, property inspection and valuation fees. In regard to arly other fees, the abSenCe of express authority in this Security Instnmlent to charge a specific fee to Borrower shall not be construed a~ a prohibition on the charging of such fee. Lender may not cha,'ge fees that are expressly prohibited by thisiSect, rity Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and tllat law is finally interpreted so that the interest or other loan icha~ges collected or to be collected itl connection with the Loan exceed the permitted limits, then: (a) any such: loan charge shall be ?educed by the amount necessary to reduce the charge to the permitted limit; and (b) any Sums already collected from Borrowe,' which exceeded permitted limits will be refunded to Borrower. Len6er inay choose to make this refund by reducing tile principal owed under the Note or by nmking a direct pay ::am) to Borrower. If a refund reduces p,'incipal, the reduction will be treated as a partial prepayment without qny..prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such retired made by direct payment to Borrower will constitute a waiver of any rightlof action Borrower might have arising out of such overcharge. 15. Notices. All notices g":~.:ven 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 when mailed by first Class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to ;ill Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be tile Property Address nnless Borrower has designated a suostitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedore for reporting Bon'ower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Insu-ument tit any one time. Any notice to Lender sh~dl be given by delivering it or by mfii!ing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in counection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice reqoired by this Security Instrument is also required under Applicable Law, tile Applicable Law requirement will satisfy the corresponding requirerneut nnd9r this Security Instrument. 16. Governing Law; Sev'erability; Rul~ of Construction. This Security Instrument shall be governed by federal law and the law of th(: jurisdiction in which the P,'operty is located. All rights and obligations contained ill this Security Insh'unient are subject to any requiremeuts mid limitations of Applicable Law. Applicable Law might explicit!y o!' implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be const,-ued as a prohibition against agreement by contract. In tile event that any provision or clause of this Secnrit)=~ Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of..thi5 Security Instrmnent or the Note which can be given effect without the conflicting provision. As used in this Securip., hi~strmnent: (a) words of the masculine gentler shall mean and include corresponding neuter Words or wo?ds of the feminine gender; (b) words iu tile singular shall mean and include file plural and vice versa; and.(c).ithe word "may" gives sole discretion without any obligation to take any action. ' 17. Borrower's Copy. B6rro ~Wer shall be given one copy of the Note and of this Security Instrunlent. 18. Transfer of the Property or a Benelicial Interest in llorruwer. As used in this Sectiou 18, "Interest in the Property" meaffs andy legal or beneficial ~nterest iai the P,'operty, including, but not limited to, those beneficial interests transferre,.l in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is tge transfer of title by Borrower at ;A future date to a purchaser. · If all or any part of the Prgper, ty or any Interest in the Property is sold or trnnsferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) withoutLenders' prior written consent, Lender may require hnn:ediate payment in fidl 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 .:)prison, 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 mustp ~y all sums secured by fi, is Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender xnay invoke any remedies pemlitted by this Security Instrument without further notige or demand on Borrower. (~®-6A(WY) (oo05) GIlL (08/00) Page a of ~ ' ' Form 3051 l/Ol DOC ID #: 0000570723670700z1 19. Borrower's Righ£ lo R, einslale After Acceleration. If Borrower meets certain conditions, Borrower shall have the right ko hnve enTorccment of lifts Security Instrumenl discontinued at any Lime prior ko the earliest of: (a) five days beforelsala of the Property pursuant ~o any power of sale contained m this Security Instrument; (b) such other period ~s Applicable Law might specil~, for the lemfinatiou of Bon'ower's right ko reinstate; or to) entry of a judgmeut enforcing dfis Security Instrumelm Those conditions are that Borrower: (a) pays Lender all sums which t!ten would be due under this Security Instrumeot and the Note as if no acceleration had occurred; (b) ¢ures any default of aoy other covenants or agreements; (c) pays all expenses incurred in enforcing this Sec;urity Instrument, includiug, but not limited to, reasonable attorneys' tees, property inspection and valuation fees, and other fees iucurred for tile purpose of protecting Lender's interest in the Property and rights under'thi:s Security hlstrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security lnstn, meut, and Borrower's obligation to pay tile sr ms secured by this Security lnstrrm~ent, shall conlinne unchanged. Lender may require that Borrower pay :tach reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) mouey order; (c) certified check, bank check, treasui'er's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security htstmment trod obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this fight to reinstate shag not apply iu the case of acceleration under Section 18. 20. Sale of.Note; Change of Loan Servicer; Nolice or Grievance. The Note or a l)arti:d interest in the Note (together with this Security Instmmeut) can be sold one or more times without prior notice to Borrower A sale might result in a change in the entity (known as the "Loml Servicer") that collects Periodic Paynlents due under the Note and this Security Instrument and performs other mortgage h)an servicing obligations under the Note, this Seem'try Instrumeht, and Applicable Law. There also might be due or more changes of the Loan Servicer mn'elated to a sale of [he'Note. If there is a chauge of tile Lonn Servicer, Borrower will be given written notice of the change wkich, will state the name and address of the new Loan Servicer, the address to which paymeots should be made ;Iud any other information RESPA reqmres in conoection with it re)ucc of transfer of servicing. If the Note is sold and thereafler the Loan is se,'viced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain wid~ the Loau Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser nnless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joiued to any judicial action (as either an individual litigant or the member of a class) that m-ises from tile other party's actions pursuant to this Security Instrument or that alleges thai t. le other party has breached any ln'Ovision of, or any duty owed by reason of, this Security Instrument, nntil stroh 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 tffforded the other party hereto a reasonable period after the giwng of such notice to take corrective actiou If Applicable Law provides aume period which must elapse before certain action can be token, that time period will be deemed to be reasonable for purposes of this paragraph. 'Fire notice of acceleration aud opportunity to cure given to Borrower pursuaut to Section 22 and the nouce o'"' acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provis,ons of this Sectioo 20. 21. Hazardous Subs!ance'~s. As used in this Section 21: (a) "}![azardou s Substances" are those substances defined as toxic or hazardous,substances, pollutants, or wastes by Euvironmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means fe~ler~}l laws and laws of the jurisdiction where the Property is located that relate to health, safety or enwronmeutal, protection; (c) "Environmental Cleanup" includes any response action, remedial acuon, or removal acuon, as defiued in Environmental Law; and (d) an "Environmental Condition" meaus a condition that can cause, contribute to, or otherwise trigger an Enviroumental Cleauup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of m~y Hazard0ns Substances, or threaten to releas'e any Hazardous Substances, on or m the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environme~tal Law, (b) which creates an Environmental Condition, or (c) which, due to thc presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the wdue of the Property. The preceding two sentences shall not apply to the preseuce, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residenfal uses and to maintenance of.the Property (including, but not limited ko, ha'zar;lous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, chtim, demand, lawsuit or other action by any govermnental or regulatory ageucy or pnw~te party involviug the Property and Hazardous Substance or Environin~:ntal Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the preseuce use or release of a Hazardous Substance which adversely affects the v,'dSe of the Property. if Borrower learns, or is notified by any governmental or regulatory authority, or any private, party, that any removal or otlmr rcmediatiou of any Hazardous Substance affecting the Property is necesse;ry,~3orrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothi ~g l~erein sltall create any obligation on Lender for an Enviromnenlal Cleanup. I~®-6A(WY) (0005) CHL (08/00,) Page 9 o[ 1 1 Form 3051 1/01 DOC ID ~: 00005707236707004 NON-UNIFORM COVENANTS. Borrower aud Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice lo Borrower prior to acceleralim~ folh)wing Borrower's breach of any ,:ovt'~nant or agreement in this Security Instrument (but not prior to acceleration under Section 18 mfiess Applicable Law provides ulberwise). The nodce shall specify: (a) the default; (b) the action required to cure the default; (c) a date, m~t less tlmn 30 days l¥om the date the notice is given to Borrower, Iff which file default must be cured; and (d) that failure to cure the defaolt on or before file date specil".ed in the notice may result in acceleration of the sums secured by this Security Instrmnent and sale of ~he Property. The notice shall further inform Borrower of the right reinstate alter acceleration and the right to bring a court action lo assert tl~e no,i-existence ol' a default or any otber defense of Borr:~wer to acceleration and sale. If the defatfit is not cured on or before date spccilied in the notice, Lender at its option may require immediate payment in lkfll of all stuns secured by this Security Instr mn~mt without l~rtber demand and may invoke the power of sale and any other remedies permilted by atpPlicable Law. Lender shall be e,dilled lo collect all expenses incurred in pursuing tim remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender Mlall give notice of intent to foreclose to Borrower and to the person in possession of tlie Property, if different, in accordance wi~h Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided i,i Section 15. Lender shall publish notice of sale, and fl~e Property shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Prol~erty at any sale. The proceeds of the sale shall be applied in the following order: (a) tn all expenses of the sale, including, hut nol limiled to, reasonahle attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess [o the person or persons legally entitled to it. 23. Release, Upou payment ;of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Bon'ower a fee for releasing this Security Instrunient, but ouly if the fee is paid to a third party for services rendered aod the charging of the fee is penniUed under Applicable Law. 24. Waivers. Borrower releases and waives all rights nnder and by vim,e of Ihe homestead exemption laws of Wyoming. BY SIGNING BELOW, Bmrower accepts and agrees to the ~erms arid covenants contained in Ibis Security Instrument mid in any-Rider executed by Borrower and recorded with it. Witnesses: TRACI L. PINTER -Bon-owe~ (Seal) -[tOITOW~r (Seal) -Borrower (~®-6A(WY) (0005) CHL (08/00) Page lO of ~ ~ Form 3051 1/01 STATE OF WYOMING, The foregoing instrument was acknowledged before me this by Robert W. Pinter Jr,. and Trac± L. Pinter. DOC ID #: 00005707236707004 Lincoln County ss: 6th day of July 2004 My Commission Expires: 1 0-2'-0 7 Notary Public (~)®-6A(WY) (0005) CHL (08/00) Page 11 of 11 Initials: Form 3051 1/01