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w~r,z,$ numo ~o~ ~oa~s, zsc. LINOOt...N COUNTY OLE'Rt{
3601 MI~SOTA DR. SUITE 200
=oo~o~, ~ ~ 87533 7 ~ 0~.~, ~ ~ ~, ~'~'~-?, ~t~
K Elb~f',,4 E.k ~ R, V./Y 0 M IN G
Prepued
~LLS ~O HO~ MORTgAgE, INC.
B OOK3~Z.9_.PR PAGE
;L91~ DOUGLAS, ,
681010000
'[Space Above TI& Lin, For R~eordlng Dab]
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in
Sections 3, 11, 13, 18, 20 ~md 21. Certain rules regarding Ye usage of words used in this document are
also provided in Section 16.
(A) "$eem'ity Instrument" means this document, which is datedAUaUST 1.5, 2001
together with ',dl Riders to this document. ,
03) "Borrowex" is o'osm, a KZh~ STCaO.r.,~S ~ e-J~OLrt~ 'B ~ZCHOLv. S ,
WiFE HUSBAND AND
Borrower i.~ the mortgagor under this Security Instrument.
(C) "Lender" is WELLS FARGO HOME NORT~ACE, INC.
Lender is a CORPORATION
organized and exiling undCT the laws of THE STATE OF CALIFOP. NIA
WYOMiNG-Single Femily. Fann;e Mae/Freddie Mac UNIFORM JNSTRUMENT
' Form 3051 1./01
(~®-6(Wy)
Lender's address is P.o. Box 5137, DES MOINES, IA 5030~5137
Lender is the mortgagee under this Security Instnmaent. "
(D) "Note" means the pronfissory note signed by Borrower and dateflAUGUs'r 15, 2oo~.
'Fne Note states that Borrower owes Lender ON'~ m3'NDRED ELw. VRN W}tOOS~ Om m.m'DRED
~"rFTY ~ 00/100
Dollars
(U,$. $ ***'111, 'lSO. O0 ) plus intexest. Borrower has promised to pay ~s debt in regular Periodic
Payments md to pay the debt.in full not later tha,i s~p~-sm~.~ oz, 2031
('E) "?roperty' means the property flint is described below under the heading '~Transfer of Righu in the
Property."
fir) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
due under the Note, and all surm due under this Security Instrament, plus interest.
(G) "Riders" means M.1 Riders to.,.this Security Instrument that are executed by Borrower. The following
Riders are to be executed by Borr'ower[check box as applicable]:
[--] Adjustable Rate Ridm- [~ Condomi.rdum Rider ~ Second Home Rider
__]~ Balloon Rider ~ Planned Unit Development Rider ~ 1.4 Fancily Rider
VA Rider [--] Biweekly Payment Rider ' [--J Other(s) [specify]
(H) "Applicable Law" mean~ all controlling applicable federal, ~ate and local statutes, regulations,
ordinances and adn'finistrative rules and orders (that have the effect of law) as well as all applicable final,
non-appealable .judicial opinions.
. (I) ' "Community .Association Dues, Fees, and Assessments" means all dues, fees, assessmenu and other
.:charges that' are imposed on Borrower or the Property by a condominium association, homeowners
association or similar orgknization. '
(,I) "Electronic Funds Transfer" means any transfer of funds, other than a transaction or/ginated by
check, draft, or sin'fil,'u' paper instrument, which is initiated through an electronic terminal, telephonic
instrument, computer, or magnetic ~ape 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 tr,'msfers, automated teller
machine transactions, transfers initi, a~ed by 'telephone, wire transfers, and automated clearinghouse .
transfers.
(K) "Escrow Items" means those item-~ that are described i'n Section 3. .
(I.,) "Miscellaneous Proceeds" means any compensation, s~ttlemem, award of damages, or proceed~ paid
by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i)
.damage to, or destruction of, the Property; (ii) condenmation or other taking of all or any part, of the
' ' Property; (iii) conveyance in lieu of condemnation; or (iv) mi~epresent~tions of, or omissions as to, th~
value and/or condition of the Property. '
(ND "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or defau t on,
the Loan.
(bO ';Periodic ]Payment" means the regularly scheduled amount due for (i) principal and interest under the '
Now, plus (ii) any amounts under Sec'lion 3 of this Security Instrument. ' "
(O) URESPA" means the Real Estate' Settlemem Procedures Act (12 U.S.C. Section 2601 et seq.) and its ' '
implementing regu/ation, Regulation'X (24 C.F.R. Part 3500), a~ they might be mended from time to .
tlme, or ,'my additional or successor legislation or regulation that gov .ctrns the sa'ne subject matter. As used
..,... ..... in th~ Security Instrument, "RESPA" refers to all. requirements ,'md restrictions that are imposed in regard
' ' to a ".federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage
1o~" under RI~SPA. ' · '"' ':'
: : ' 6(WY) 1ooo~1 ~'~Oe 2 pt ~5
(P) "Succe;sor in Interest of Borrower" mez~u any 3party that has taken titlc to ~e Prope~y, whe~ or
not ~ p~ty h~ ~sumcd Bo~ower'z obligations under ~e Note ~d/~r this Security
~NSFER OF RIGHTS IN THE PROPERTY
Th~s Secu~ty ~t~n~ sc~res ~o ~nder: (i) ~e repaym~t of ~e Lo~, ~d ~[ ren~s, excisions ~d
mo~fications of ~e Note; ~d (ii) ~e p~'fo~ce of Borrower'~ 'coven~ts m~d agre~ents ~der this
Secu~y In~tment ~d ~c Note, For this purpose, Bo~ow~ docs hereby mcr[gage, U~t md co~wey to
Lender ~d L~der's successors ~d assigns, wi~ pow~ of s~e, ~e follow~g described prope~y located
in fl~e co~Y of LINC0L~ :
~ype of Rcconl~g Ju~dicfion] [Name of ~ccordi~ Yurisdic6on]
LOT 60~ OF THE BRUCE D~K S~DiVISlON TO THE BEDFO~ TO.SITE. LINCOLN
CO~Y, ~OMING AS DEECKIBED ON T~ OFFICI~ P~T
TEIS IS A PURCHASE MON3ZY SECURITY INSTRUP~NT.
TAX STATEt43~NTS SEOULD BE SENT TO: WELLS FARGO EOM]~ MORTGAGE, INC., P.O.
BOX 5137, DES MOINES, IA 503065137
Parcel ID Number: o 62 oz. o o which cun'ently has thc address of
2 0 0 A STREET [.b'ITe~:tl
I3EDFORD [City] , Wyoming 83112 [Z{p Cod~]
("Property Address"):
TOGETHER WITH all the improvements no',,.' or hereafter c'rcctcd on the property, and all
easements, appurtenances, and fixtures now or hereafter a part of the property. All r~laceme~ts and
additions shall also be covered by this S<:curity ]a;strumc~t. All of the foregoing is referred to in this
Security Instrument a~ the "Property."
BOP_ROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has
the right to mortgage, grant and convey thc Property ,'md that thc Property i~ uncncumbc-red, except for
encumbrance; of record, Borrower wart,ants and will defend gen;ra, lly thc title to the !~'operty against all
cl,'~'ns and dem.',nds, subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national rue and non-un.iform
covenants with limitvd variations by jurisdiction to constitute, a urdform, security instrument covering real
proper'ff.
UNIFOKM COVENANTS, Borrower hud Lender covenant ~nd agree as follows:
1..Payment of Principal, Inter,;t, Escrow Items, Prepayment Charges, nnd Late Charges.
Borrower shall pay when due thc principal of, and inter~st on, the debt ~vid~3ced by thc Note and any
prepayment ck,'trges end late charges due under the Note. Borrower ~hall also pay funds for Escrow Itc-m~
p~suant to Section 3. Payments duc under the Note au,0 this Security lnslmment shall be m~de in U.S.
currency. However, if an)~ chez)< or other i~trument received by' Lender .ns payment under the Note or this
867'
Security Instrument is returned to Lender unpaid, Lend~r mas' require that any or ail subsequent payments
due under the Note 'and this ·Security ins. trument be ma,de in one or more of the' following form~, ~
selected by Lender: (a) cash; (b) money order; (c) certifi'ecl check, bank check, trez~urer's check or
c~hier's check, provided ~y such check i~ drawn upon an institution whose dePosits are i~ured by a
federai agency, instrumentality, or entity; or (d) Electronic Funds Transfc, T.
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 pz,'tia[ payment if the payment or partial payments ate insufficient to
bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the L°an
current, without waiver of any rights hereunder or prejudice to its rigl~ts to refuse such payment or partial
payment~ in the f~ture, but LeMer is not obligated to apply such payments az thc time such payments arc
accepted. If each Periodic Payment is applied as of its scheduled due date, th~n Lender need not pay
interest on unapPlied furors. Lender may 'hold such urmpplied funds until Borrower makes payment to bring
the Loan current. If Borrower do'es not do so within a reasonable period o~' time, Lender sbail ·either apply
such fttnds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding
principal baiance under the Note immediately prior to ~b~eclosure, No offset or claim Which Borrower
might have now or in the future against Lender mba.Il relieve Borrower from ri'raking paYments due under
the Note ,'md this Security I.ns~rurn~.'nt or performing the covenants and agreea~'~ents secured by this Security
Instrument.
2. Application of Payments or l:'roceeds. Except as otherwise described in this Section 2, ail
payments accepted and applied by Lender shall be applied in the ~bIlowin'g order of priority: (a) interest
due under the Note; (b) principal due Undcr the Note; (c) amoUnts due under Section 3. Such payments
shall be applied to each Periodic Payment in tlxe order in which it becanae due. Any remaining amounts
shai! be applied first lo late charges, second to ,-my other amounts due under this Security Instrmnea~t, and
then to reduce tl~e prh~cipal balance of the Note.
if Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a
sufficient amom~t to pay any late charge due, the payment may be applied tO the delinquent payment and
the late charge. If more tha.u one Periodic Payment is outstandingl Lender may apply any payment received
:~'rom Borrower to the repaymeni of the Periodic Payments if, and to the extent that, each payment can be
paid in full. To the extent thai any excess exists after the payment is applied to the full payrmmt of one or
more Periodic Payments, such exccs~ may be applied to any late charges due. Voluntary prepayments shall
be applied first to any prepayment charges and then as described in the Note. " '
Any appIication of paymtmts, insurance proceeds, or Miscellaneous Proceeds to principai dUe under
the Note .~all not extend or postpone the due dare, o~' change 'd~e amount~ of the Periodic Payments.
3. Funds ,['or Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due
under the Note, until the Note is p,'fid in full, a sum (the "Funds") to provide for pay~nent of amounts due
for: (a) taxes and assessments and other items which can attain priority over this Security Instrun~ent a.~ a
lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c)
premiu~ for any and all insurance required by I. xnder under Section 5; ,and (d) Mortgage InsuranCe
prc'n"dums, if any, or any sums pzy'able by Borrower to Lender in lieu of the payment o:~' Mortgage
insttrance prem.iums in accordance with the provisions of Section 10. These items ,'u'e called "Escrow
Items." At origination or at any time during the term of the Loan, Lender may require that Commutaity
As~oc2ation Dues, Fees, ,~d Assessments, if ,'my, be escrowed by Borrower, and such dues, fees and
assessmen~ shall be an Escrow Itera. Borrower shall promptly fun'dsh to Lender ail notices of amounts to
be paid und~.,.r this Section. Borrower shall Pay Lender the Funds for Escrow Iten.~ 'm,..le~ Lender wa. ives
Borrower's Obligation to pay the Ftn~ds .for any or all Escn:ow ,Items. Lender may waive Borrower's
obl!gation to pay to Lender Funds for any or all Escrow Item~ at a.uy time. Any such waiver may only b~
in writing, t~1 the event of such waiver, Borrower shall pay d.irectly, whea~ and where payable, the amounts
due for any Escrow Items for which payment of Funds has been waived by Lender mid, if Lender requires.
shall furnish to Lender: receipts evidenchxg such. payment withhx such time pc-tidal as Lender may require.
Borrowc~"s obligation to make such paymenu and to provide receip~ shall 'for all purposes be deemed to
b~ a covenant anc[ agreerncnt contained in u"fis Security Instrument, as the phrase "coven;mt and a~eement"
is used in Section 9. If Borrower. is obligated to pay E~crow Iterr~ directly, pursuant to a waiver, and
Borrower falls to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9
,'md pay such mount ,'md Borrower shall then be obligaled undc~r Section 9 to repay to Lender any such
amount. Lender may revoke the waiver as to any or 'all Escrow hems 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 ~re then required under th.is Section 3.'
Lender may, at any time, collect and hold Funds in an mount (a) sufficient to permit Lender to apply
the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender cm
require under RESPA. Lender sh,all estimate the mount of Funds due on the basis of current data and
reasonable estimates of expenditfi.res of future Escrow Itc'ms or otherwise in accordance with Applicable
Law.
The Fm~ds shall be 'held in an institution whose deposits are insured by a federal agency,
insummentality, or entry (including Lender, ii' Lender is an institution whose deposits are so insured) or in
any Federal Home Loan Bank. Lender shall apply the l:unds to pay the Escrow hems no later than thc time
specified under RESPA. Lender shall, not charge Borrowe~: for holding and applying thc Ih. rods, annually
analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest On thc..
Funds and Applicable Law pc'traits Lender to make such a charge. Unless an agreement i~ made in writing
or Applicable Law requires interest to be paid on the Funds, Lender shall not be requh'ed to pay Borrower
any interest or earnings an 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 annum accounting of the
Funds as required by RESPA..
If there is a surplus of Funds held in escrow, ~ defined under RESPA, Lender shall account to
Borrower for the cxce,s fund, in accordance: with RESPA. If thc'reis 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 u'p the shortage in accordance with RESPA, but in no more than 12
monthly payments. If there is a deficiency of Funda held in escrow, as defined under RESPA, Lender shall
notif7 Borrower as required by RESPA, and Borrower shall pay to'Lender the amount necessary to make
up the deficiency in accordance with RESPA, but in no mo~e than 12 monthly payments.
Upon payment in full. of all ~unu secured by this Security I. nstrmmnt, Lender shall promptly retired
to Borrower any Funds held by Lender.
4. C.har~es; Liens. Borrower shall pay all taxe~, assessments, charge,, fines, and impositions
attributable to the Property which eau attaLu priority over this Security Instrument, lea.~ehold payments 0r
ground rent's on the Property,'if any, and Community As*de{etlon Dues, Fee~, and A~e$$ments, if any. To
the extent that these [terns are Escrow items, Borrower ~hall pay them in the m,'um~r provided in Section 3.
Borrower shall promptly dis~a:rge any lien which has priority over this Security Instrarnenr unless
Borrower: (a) agrees in writing to the payment of the obligation ~e~ured by ~¢ lien Ln a manner acceptable
to Lender, but only so long ~s Borrower is perforrdng such agreement: (b) contem d~e lien in good faith
by, or defends ag;fin~t e'ntbrcement of the lien in, legal proceedings which in Lender's opinion operate to
prevent the cnlbrcc-'rnent of the. lien while those proceedings are pending, but only until ~uch proceedings
are concluded; or (c) secures ~om the holder of the lien an a~eement satisfactory to Lender subordinating
the lien to this Security In,trument. If Lender de~ermines the: any part of the Propc~y is subject to a lien
which can attain priority ovc'r this Security Ins-trurneUt, Lender may give Borrowc'r a notice identifying the
L) "7,G3 '7 8 6 9
lien. Within I0 d~s of the date on which that notice is given, Borrower shall satisfy the lien or t~e one or
more of the actions set forth above in this Section 4,
Lender m~y require Borrower to pay a nile-time charge for a real estate tm verification and/or
reporti~g service used by Lender in connection with thL~ LOan.
5. ~roperty Insurance. Borrower shall keep the improvements now ex[sting or hero,er erected on
th~ ~operty insured agai.ns~ loss by f'~e, hazard~ included within the term ~'extended c0vcrage," a~d an),
other h~arcL~ including, but not limited to, e~'thquakes ~d floods, for which Lender requires insur~cc.
Th~s insurance shall be maintained in the amounts' (including deductible levels) and t'or d~e periods that
Lender requires. What L¢'ndt.~ requires pursuant to the preceding sentences can change during the term of
the Loan. The insurance carrier providing thc i.nsur,'mce shall be chosen by Borrower subject to Lender's
riehl to disapprove Borrower's choice, which right shall not be exercised un.reasonably. Lender may
~equ~e Borrower to pay, in connection with this Loan, ei~e~: (a) a one,-t.~e charge for flood zone
determination, certification and ~,acldng services; or Co) a one.ti.me charge tor flood zone deter~nation
~d certification services and subsequent charges each time remapping~ or similar changes occur which
reasonably m.ight affect such determination or certification. Borrow~ shill also be responsible for die
paymcmt of any fees imposed 'by the Federal .Emergency Management Ag'choy in connection wi~ the
review of any flood zone determination resulting from ~ objection by Borrower.
If Borrower I~ls to maintain ~y of the ·coverages described above, Lender may obtain insua'm~ce
coverage, at Lender's option and. Borrower's expease. Lender is under no obligation to purchase any
particular type or amount of coverage.: '~eret'ore, such coverage shall cover Lender, but mi~t or might
not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against
hazard or liability and might provide greater or lesser coverage that was previously in effect. Borrower
ac'lmowledges that thc cost of the insurance Coverage so obtained migI~t signit~cantly exceed the cost o~'
insurance that. Borrower could, have obtained. Any amounts disbursed by Lender under thi~ Section 5 shill
become additional debt of Borrower secured by this Security Instrument. These amounts shall bear i~terest
at the Note rate from the date of disbursement and shill be payable, with such ~nterest, upon notice from
Lender to Borrower requesting payment.
All i~surance policies required by Lender and renewals of such policies shall be subject to Lender's
right to disapp=ovc'such policies, shall ii,elude a s~andard rrmrtgage clause, and sl'~ll name Lender
mo~tgag~;c and/or as an additional loss payee. Lender shall have the right to hold the policies mid renewal
cerdlic~tes. If Lender requires, Borrower shill promptly give to Le~der all receipts of paid premiums and
renewal notices. It' Borrower obtains any t'orm of insurance coverage, not otherwise required by Lender,
for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and
sh,xll name Lender ~ mortgagee ~d/or as an additional loss payee,
In the event of loss, Borrower shall give prompt notice to the ~n~urance cas'tier m~d Lencler. Lender
may mal~¢ proo£ of loss if not made promptly by Borrower. Unless Lcn(ler and Borrower otherwise ,xgree
in writing, any insurance proceeds, w~',ether or not the tu~derlying insurance was required by Lender, shall
be applied to restoration or repair ot~ the Property, if the restoration or repair is economic~ly t'easible and
Lender's security is not lessened. During such repair and restoration period, Lender shill have thc fight to
hold such insurance procee~ und[ Le~der h~ l~ad an opport~ity to i~pect such Property to ensure tho
work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
prompdy. London: n~ay disburse proceeds for the repairs and restoration in a sin~Je payment, or in a serie~
of progress payme~ts as the work is compl'eted. Un Jess an agreement is made in writing or Applicable Law
requires interest to be pa~d on such insurance p~:oceeds, Lender shall not be required to pay Borrower any
interest or earnings on such proceeds, Fees for public adjusters, or other third p~ies, retained by
Borrower s~.~l not be pai.d out of the i~urance proceeds ~d shalI be thc sole obligatiotl of Borrower. If
the restoration or repair is not econornic.,dly fe~ible or Lender's security would b'e lessened, the insurance
proCeed~ shall be epplied,to ~c sums secured by this Security Instrument, whether or not then due, with
Form 2051 1/01
870
thc excess, it' any, paid to Borrower. Such insurance proceed~ shall be applied in the order providcd rot in
Section Z.
If Borrower abandons the Property, Lender may file, negotiate and settle any available hlsurance
claim and related matters. If Borrower .does not respond within 30 days to a'notice from Lender that the
insurance carrier has offered to settle a clain,.., then Lender may negotiate and setlle the claim. Tho 30-day
period will begin ',,,,hen the notice is given. In either event, or if Dmder acquires the Property under
Section 22 or otherwise, BorroWer hereby assigns to Lender (a) Borrower's righu to ~ny insurance
proceeds in an amount not to 'exceed the amounts unpaid under the NOte or this Security Instrument, and
(b) any other of.Borrower's rights (other than the right to any refund of unearned premiums paid by
Borrower) under all insur,'mce policies covering the Property, insofar as such rights arc applicable to thc
coverage of the Property. Lender may use the insurance proceeds either to re'phr or restore tile Property or
to pay mounts unpaid tuader the Note or th.is Security Instrument, whether or not then due.
6, Occupancy. Borrower {hall occupy, establish, and use tile Property as .Borrower's principal
residence within 60 days at'ter th'¢ 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 occupancy, unless Lender
otherwise agrees in writing, which 'consent shall not be tuare~'~soaably withheld, or urdes$ extenuating
circumstances exist which are beyond Borrower's control.
7. Preservationi Maintenance and Protection of the Property; Inspections. Borrower shall not
destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the
Property. Whether or not Borrower is residing in 'the Propert3,, Borrower shall maintaLn the Property in
order to prevemt tlxe Property from deteriorating or decreasing in value due to its condition. Unless it is
determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall
promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
condemnation proceeds are paid in connection with damage to, or.the taking of, the Property, Borrower
shall be responsible for repairing or restoring the Property only if Lender has released proceeds for ,uch
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 condemnation proceeds are not ~afficient
to repair or restore the Property: Borro,,t~er is not relieved of Borrower's obligation for the completion o1"
such repair or restoration.
Lender or its agent may make reasonable entries upon and inspections of the Property. If it has
reasonable came, Lender may inspect the interior of the improveme'nts on the Propcrty. Lender shall give
Borrower notice at thc time of or prior to ~ch an interior inspection specifying such rmsonable cause.
8. Borrower's Loan Application. Borrower shall be in default il', during the Loan application
Process, Bonrower or any persons or entities acting at the direction o£ Borrower. or with Borrower's
k~o~vledge or consent gave materiatly false, misleading, or inaccurate irffOrmation or statements to Lender
(or f~led to provide I.end,lr with material information) i:n connection with the Loan. Material
representations include, but 'are not limited to, representatior~ concerning Borrower's occupancy of tho
Property as Borrower}s prinCipal residmce.
.9. Protection of Lender's Interest in the Property and Right~ Under th. is Security Instrument. If
(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there
i's a leg~ proceeding that might significantly affect Lender's i.uterest in the Property and/or rights under
this Security InstrUment (such asa proceeding in bankruptcy, probate, for condemnation or forfeiture, for
enforcement of a lien which may attain priority over this Security Instrument or to cnforce laws or
regulations), or (c) Borrowc~ has abandoned the Property, then Lender may do and pay for whatever is
reasonable or appropriate to protect Lertder', interest in the Property and right~ under this Security
Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing
the Property. Lender's actions can include, but are not limited to: (a)paying any sums secured by a lien
which has priority over,this Security Imtrument; (b) appearing in court;' and (c) paying reasonable
(~,~-6{WY) (ooo~ ~'~o* ~ of ~$ Form 3051
3tS'7,.%aZ'? 8 71
attorneys' fees to protect ira interesl in the Property and/or right~ under this Security Instrument, including
its secured position in a bankn~ptcy proeeedingi Scouting the Property includes, but is not li~ted to,
entering the Property to make repMrs, c&ange locks, replace Or board up doors and windows, drain water
from pipes, elin/m~te build,us or other code violations or dangerous conditions, and have utilities turned
on or off. A]thoug~ Lender may take action under this Seclion 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 for not taking any or M1
actions authorized under this Section 9.
Any amounts disbursed by Lender under this Section 9 fl~dI become additional debt of Borrower
secured by this Sectu,'ity Instrument.. These ,'u'n~unts slull bear interest at the Note rate fi.om the date of
disbu.rsemm~t and.shall be payable, with such interest, upon notice from Lender to ~orrower requesfi, ng
payment. '
Il" this Security Instrument.is on a leasehold, Bor~oWex shall comply wi~ all the provisions of the
lea~e, Il' Borrower acquires fee title to the Prop=ny, the lemgehold and the fee tit~e xh~l not merge
Lender agrees to ~he mcrg~.~ in writing,
10. Mortgage Insurance, If,Lender required Mortgage Insurance a~ a condition of making the Loan,
Borrower shall pay the premiun~~ required to m,'d.ut,xin the Mortgage Insurance in effect. If, Ibr ~y reason,
the Mortgage Insur,'mce coverage required by Lender ceases to be available from the mort'gage insurer ~hat
Previously provided such insurance and Borrower was requi/ed to make separately designated payments
toward the prc-m~urr~ for Mortgage Insurance, Borrower shill pay the premitu-~ required to obtain
coverage substantially equivalent to the Mortgage Insurance previohfly in eiYect, at a cost substantially
equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate
mortgage insurer selected by Lender. If substantially equix(alent Mortgage Insurance coverage is not
available, Bon'o~ver shill continue to pay to Lender the amen.ut of the Separately designated payments
were due when the insur&nce coverage ceased to be in effect. Lender will accept, use and retain these
payment~ as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be
non-refundable, notwithstanding the ~act that the Loan is ultimately paid in full, and Lender shall not be
required to pay Borrower any interest or e,'u"nings on such loss reserw:. Lender can no longer rcquire loss
reserve payment~ if Mortgage In.~ance coverage (in the ~ount m~d for the period that Lender requires)
provided by an insurer selected by Lender ag~n becomes available, is obtained, and Lender re u'
?parately designated payments toward the nremiUms for Mort""'.'. ~' .............. . ,, q ~res
Insurance as a condmon of making the Loan and Borr~,w ............ : ...... q . . gage
· '.' '--, "'~, ~'~'-lu~reg ~o rna.~e sep~at¢ly aesignated
payments toward the premiurm, ibr Mortgage huurance, Borrower shall pay t.he premiums required to
n'la]ntaln Moagage Insurance in effect, or to provide a non-refundable lo~s reserve, until Lender's
require'meat for Mortgage Insurance e~.d.s in accordanCe with m~y wr, itten agreement between Borrower and
Lender providing, for such termination or until termination is required by Applicable Law. Nothing in this
Section 10 affects Borrower ....
" $ obi:get,on to pay zuterest at the rate provided in the Note.
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for cem. i.u losses it
may moue if Borrower does not repay the Lo~m as agreed. Borrower ia not a puny to. the Mortgage
InsuranCe.
Mortgage ieaurers evaluate their total risk On all such in..~urance in £on:c from time to time, and may
enter into agreements with other p~ies that share or'm°dify theix risl4, or reduce'losses. These agrecraents
are on lem~s and conditions that are satisfactoV/to the mortgage insure' and the other party (or partic~) to
these agreements. These agreements may. require the mortgage insurer ~o make payments using any sottrce
of funds that the mortgage insurer ma3' have avallabh (which may include funds obtained from Mortgage
Insurance
Ax a result of these agreements, Lender, any purch~er of the Note, another insurer, any reinsurer,
any other entity, or any ~fl~iate of ,'my of the foregoing, may receive (directly or indirectly) ~.nounts that
derive from (or might be charaCterized as) a portion of Borrower'~ paym~-nts for Mortgage Insurance, in
exchange for sharing or modifyi.ng the mortgage insurer'~ risk, or reducing lo~ses. If such agrccmc-nt
provides tha~ an affillate of Lender takes a fl:~re of the insurer's risk in'c"zch~nge for a share of the
premiura~ paid ~o the insurer, the a.~gcmcnt ~$ often termed "captive n:~$urance." ~rther:
(a) Any such agreements will no~ affect the amounts ~hat Borrower has agreed to pay for
Mortgage Insurance, or any other terms o1' the Lonn. Such agreements wi. Il not increase the amount
Borrower will owe for Mortgage ~Insurance, and they wfl. l no(: entitle Borrower to any r~'und.
.
(b) Any such agreements wi.Il not affect the rights Borrower has - if any. with respect to the
Mortgage Insm-ancc under the Homeowners Protection Act of 1998 or any other law. Thc~c rights
may include the right to receive certain disclosures, to .request and obtain cancellation of the
Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a
refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or
termination.
11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Pr~ce~ds are hereby
assigned to and shall be paid to Lender.
If the Property is damaged, such ML~cellaneous Proceed~ shall be applied to re~toration or repair of
the Property, if the restoration or repair is economically fe,'uible and Lender's security is not lessened.
During such repair and restoration period, Lender 'shall have the right to hold such Miscellaneous Proceeds
until Lender ha.~ had an opportunity to inspect such Property to ensure the work has been completed to
Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay tbr the
repairs and restoration in a sing)e disburs~nent or in a sexies of progress payments as the work is
completed. Unless an agreement i's' made in writing or Applicable Law requires knterest 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 restoration or repair is not economically feasible or Lender's security would
be lessened, the Miscell,'meou; Proceeds shall be applied to the sums sc'cured by this Security Instrument,
whether.or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
applied in the order, provided'for in Section 2.
lu the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous
Proceeds shall be applied to the sums secxtred by t~i~ Security Instrument, whether or not then due, with
the excess, if any, paid to Borrower.
In the evem of a partial taking, destruction, or loss in value of the Propen'y in which the fair m,'trket
value of the.prOperty immediately .be-fore the partial taking, destruction, or loss in value is equal to or
greater than th~ amount of the sums secured by this Security Instrument i~runediately belbre the partial
taking, destruction, or loss ia value, unless Borrower and Lender otherwise agree in writing, the suras
secured by this Security Instrument shall be reduced by the amount of tl~e Miscellaneous Proceeds
muhipiied by the following kaetion: (a) the rot'al amount of the sums secured in'm~ediately before thc
partial taking, destruction, or loss in value divided by (b) the fair market valu~ of the Property immcdiately
before the partial taking, destructiol~, or loss in value. Any balance &MI be paid to Borrower.
In the event of a partial taking, de,ruction, or loss in value of the Property in which the fair market
value of the Property irrunedL,'~tely belbre the partial taking, destruction, or loss in value is less than the
amount of the sums secured immediately before the partial taking; destruction, or loss in value, unless
Borrower and Lender otherwise agree in writing, the Miscetlaneou.~ PrOceeds shall be applied to the
secured by this Security In.strumcnt whether or not the surrk~ are then due.
If the Property is abandonecl by norrow¢-r, or if, after notice by Lender to. Borrower that the
Opposing Party (as defined in ~e next sent~ce) off~s to make an awarcl to settle a claim for damages,
Borrower fails to respond to Lender within 30 days after the date the notice ia given :Lender is authorized
to collect and apply the Miscellaneous Proceeds either to restoration or repair of thc Property or to the
surfs secured by. this Security Instrument, whether or not th~a due. "Opposing Party" means the third party
that owes. Borrower Miscellaneous Proceeds or the party against whom Borrower has a right ot' action in
regard to Miscellaneous Proceeds.
Borrower she/1 be in default 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 rig!~ts under this Security Instrument. Borrower can cure sucl~ a default and, if
acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be
dismissed with a ruling that, ia Lender's judgment, precludes forfeiture ol' the Property or other material
tmpairmera of.L~de'r's interest in the Property' Or rights under thi.~ Security 1.ustrument. The proceea5 of
any award or claim for damages that are attributable to the impairment o1' lender's interest in the Property
ar~ hereby a~signed and ~ha.ll bz paid ;o Lender. '
All Miscellaneous Proceeds that arc not applied to restoration or repair of the Property ah;tll be
applied in the order provided for i.n Section 2.
873
12. BOrrower Not Released; Forbearance By Lender Not a Waiver. F-~xtension of the time for
payment or modification of amortization of the sums secured by thi~ Security I. nstmment granted by Lender
to 'l~orrower or ,'my Successor in Interest of Borrower rdudl not operate to release 'the liability of Borrowgr
or m~y Successors in Interest of Borrower. Lender shall not be required to commence proceedings agalmt
any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify
amortization of the sum,s secured by this Security Instrument by reason of any demand made by the original
Borrower or any Successors in Interest of Borrower, Any forbearance bY Lender in exercising any.right or
remedy including, without limitaxion, Leader's acceptance of payments from third persons, entities or
Successors in Intere~ of Borrower or in amounts less than the amount then due, shall not be tx waiver of or
preclude the exercise of any fight O'r remedy,
I3. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants
and agrees that Borrower's obligation~ and liability -ql~all bejoint and sc"veral, However, any Borrower who
co-~igr~ this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this
Security I.n.;tnunent only to mortgage, grant and convey the co-signer's interest in the Property m~der the
tenru of this Security lnstrumenti.,(b) is not personally obligated to pay t.h.c sura.s secured by this Security
Instrument; and (c) agrees chat Lender and any other Borrower can agree to extend, modify, forbe,'u' or
, make any accommodations wi~ regard to thc tams of t.kis Security Instru. mm~t or the Note without the
· co-signer's'consent,
Subject to the 'provisions of Section 18, any Successor in 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 Instnm~ent. Borrower shall not be released from
Borrower's obligations and liability under this Security I. nsmament unless Lender agrees to su~ release in
writing. The covenants and agreements of thi, Security Instrument shall, bind (except as provided in
Section 20) and benefit the successors and a~signs of Lender, '
14. Loan Charges. Lender may charge Borrower fees rot ~ervices performed ha connection with
Borrower's dehult, for the purpose of protecting Lender's interest in the Property and rights under this
Security Instrument, includhag, but not lhn.ited to, attorneys' fees, property inspection and valuation fees.
In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific
fee to Borrower shall not be construed a~ a prohibition on the cl:targing of such fee. Lender may not charge
fees that ,xre expressly prohibited by ~is Security lasu'u.ment or bY ApPlicable Law.
If the Loan is subject to a law which sets maximum lomx charges, and that hw is t~ally interpreted so
that the interest or oth~ loan charges collected or to be collect~ in connection with the Loan exceed the
permitted limits, then: (a) any such loan charge shall be reduced by the mnount necessary to reduce the
charge to the permitted lin'fit; and(b)any s'ums already collected from Borrower which exceeded permitted
limits will be refunded'to Borrower, L.cnder may choose to make this rel'und by reducing the principal
owed under the Note Or by ·making a dire~ payment to Borrower, If a rc~'und reduces principal, thc
reduction will be treated ~ a' partial prepayment without .any pr~.'payment charge (whether or not a
Pre'payment charge'is provided for under tho Note). Borrower's acceptance of any such refund made by
. direct paymen~ to BorroWer will constitute a waiver of .my right of action Borrower rrfight 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 ~ven to Borrower when m,~led by first class mail or When actually delivered to Borrower's
notice address il' sent by other 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 designaled a substitute notice address by notice to Lender. Borrower shall promptly
noti~'y Lender of Borrower's change of address. ' If Lender specifies a proced'are for reporting'Borrower's
change of address; then Sorrower:shall only report a change of address tl:~rough that ~pecified 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 rm'dling it by first class ma/1 to Lender's address
~tated herein unles~ Le~der has designated another ~ddre~s by notice to Bon-oWer, Any notice in
connection with this Security Instnm~ent shall not be deemed to have been glvcn to Lender m~til actually ·
received by Lender, If any notice required by this Security Instrument i~ also required under Applicable
Law, the Applicable Law requirement will satisfy the corr~ponding requirement under this Security
Insrru.meat.
16. Governing Law; Severability; Rules or, Co,nstruction, This Security I~tr~u~nt shall be
governed by federal law and the law of ',.he jurisdiction in which the Propc. rty ~ locale& All rights ~d
obligations core,neff in ~is Security Ins~t ar~ subjec~ to a~y requir~cmts ad li~tations of
Applicable Law. Applicable L~ l~t explicitly or ~plicitly allow ~e pmi~s m agree by comrac~ or
~ be ~i!ent, bu~ such silence ~1 not be const~ed as a prohibition againa a~re~cnt by contract.
· e ev~t ~at ay provision or clause of aIs Security I~nt or ~e Note conili~s wi~ Applicable
~w, such con,ct sh~I not ~fcct o~ provisions of ~is Security In~ent or ~c Note which c~ bc
giv~ et~Ct wiflaou~ the conflict~g provision.
As reed in this Security Ins~uent: (a) words of ~e ~line gender sh~l me~ ~d include
correspond~g neuter wor~ or words of ~e f~ne g~d~; (b) words ~ ~e sin~lar sh~l ~m~ md
include the plural ~d vice versa; m~d (c) ~e word "~y" ~ve= sole d~cretion wi~out ~y obligation to
t~e ~y action,
17. ~orrower's Copy. Bonower shall be given one copy of ~e Note ~d of ~is Se~rity I~tment.
· 18. Tramsfer of ~e Prop~y ~ a B~cial Int~t la Bo~ower. As ~ed ia this Section
"ln[~cst ~ ~c Property" me~s any leg~ or b~ki~ ~terest in the Prop~ty, including, ~ut not li~ted
to. ~ose b~nefici~ imerests tranlfeacd ~ a bond Ibr deed, contract ~or dec& ~st~Iment s~es con~act or
es~ow agr~m~t, ~c intcm~ o~ which is ~e w~sfer of tide by Bonower ~ a ~e date to a pumhaser.
]f ~1 or ~y p~ of the Prope~y or ~y Imcrcst in ~ Propc~y is sold or tr~s~cd (or i~ Borrower
~ not a natural person ~d a beneficiM interest in Bonower is sold or tr~ffc~ed) wi~out ~der's .pfor
w~ten consent, Lender may require i~ued~te pa~t in ~11 of MI sm~ se~ed by ~is Sec~i~
~strument, Howev~, ~is option shMl not be exercised by L~der if su~ ex~cisc is prohibited by
Applicable
If Lender ex~Cises ~is option, L~der ~] give Bonower notice of ~cel~ation. ~e notice shMl
provide a pe~od of not less ~ 30 days from ~e date ~e notice ~ given iu accord~ce wJfl~ Se~ion
wi~ Whi~ Bon'ow~ m~t pay ~I su~ scc~d by ~is Se~rity h~nt. If Bo~ower fails to pay
· eSe sums pfio~ to ~e expiration of this p~iod, Lcnd~ my invoke ~y r~edics pestled by
S~cu~ty ~st~ent wi~ou~ ~ah¢r notice or dmd on Bo~ower.
~. BOrrower's Right to ~einstate ~ Acc~era~on. If Borrower meets c~ c~ditions,
Bo~ower shMl" have the righ~ to have ~nforc~t of ~is S~riV ~s~m~t disconUnued at ~y
prior to ~c earlkst of: (a) five days before s~e of ~ Property pursuit to mV power .o~ s~c cont~ned in
· is Security Inst~nent.; ~) such o~cr p~iod ~ Applicable Law ~ght specify ~or ~c tc~adon of
Bo~ower's right to r~n~ate; °r (c) en~ ofa judg~nt ~orcln8 this Security Inst~ment. Those
conditions ~e ~at Borrower: (a) pays ~nder ~1 s~ which ~m' wo~d be due under ~ ~ecurity
~st~t ~d U~e Note ~ iF no accelera~on had oc~rred;. (b) cure~ any deSult of ~y o~ cov~ or
agreem~ts; (c) pays ~1 expenses inched in enforcing ~h~ Security lnst~cm, ~clud~g, but not li~t~
to, reportable attorneys' fees, prop~ inspection and v~uation fees, ~d o~er fees inclined for
pu~ose of pro~ecting ~end~'s Jnt~cst in ~e Prope~y ~d righ~ under ~is Secu~ty ~st~ent; ~d (d)
t~es such a~ion as L~d~ may r~asonably require to ass~e ~at L~dcr's interes~ in ~e Prop'e~y ~d
rights ~der this Se~rity lnst~ent, and Bonow~'s obligation to pay U~c ~ scc~cd by ~is Security
~tmment, sh~l continue ~ch~ged, Lcnder may require tha~ Bo~ow~ pay such re,starcraft sins ~d
expenses in one or more of the following ~o~s, as s~k~cd by Lender: (a) cab; ih) monet order; (c)
certified check, b~ check, tre~urer's check or cashier's check, prOvid~ ~y such cMck is drawn upon
~ ~st/~tion whose depoflu are ~sured by a federM a~en~, instrumentality or entity; or (d) Electronic
~unds Tr~sFer. Upon reinstatemt by ~o~ow~, ~is Security hstmem ~d obliga~ons seared hereby
shall remain fully efl~ctive ~ ff no acceleratio.u had occu~ed. ~owever, ~is ri~t to reinstate sh~l not
apply in d~e C~e of acceleration ~der Section 18.
20. Sale of. Note; CMnge ol Loan S~vic~; No~ce o~ G~evance. ~e Note or a pmi~ interest in
· e No~e (togmher with ~is &cufity l~t~t) cm be sold one or more t~ wi~out prior notice to
Borrower A s~e ~ght result ~ a d~mige in ~he ~tity (~own ~ ~e 'Lo~ Schick") ~t coIle~
Periodic Payments due ~der ;he Note and ~i~ Security I~;m~t aud ~
~icmg. obhgat~ons ~d~ ~e Note ~:- e ..... , ..... p lb~ o~ mortgage loan
, ,~ ~umy m~m~nt. ~d Applicable Law. There also ~ght be
one or more changes oldie ~ Se~icer ~clated to a s~e of the Note '
Servicer, Bo~ower will be giv~ written node- ~,' ,,.2 _, .... .: ...... . .I( ~?rc is a ~ge of ~
new ~ ~e~icer, the address to which payments ~ould be made ~d any o~er infomtion RESPA
Form305l ~/0~
requires in cormection with a notice
serviced by a Man Servicer other th, an thc 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 ~d arc not
assun~d by the Note Purchaser un.less other,vise provided by the Note purchaser.
Neither Borrower nor Lender may commence, join, or be joined to any judicial action
individual litigant or the member of a cl~s) that arises from the other party's action~ pursuant to this
Security instrmnent or that alleges that the other party has breached ,'my provNion of, or any duty owed by
reason ct; this Security Instrument, until such Borrower. or L~.md~r h~ notified the other party (with such
notice given in complim~ce with the requirements of Section 15) oi' such alleged breach and afforded the
otMr party hereto a reaSonable period a/'ter the giving of such notice to take corrective action. If
Applicable Law provide! a time period which must elapse before Cenan action czm be taken, that time
period will be' deemed to be reachable for purposes o1' this paragraph. The notice of acceleration and
opportunity to c~re given to Bc~rrowcr pursuant to Section 22 and the notice of acceleration given to
Borrower pursuit to $~:ction 18 shall be deemed to satisfy Lhe notice and opportunity to t',O:e corrective
action provisions of this Section 20,
21. llazardous Substances. As used in this Section 21: (a) "Hazardous Substances"' are those
substances ~efined as toxic or hazardous substm~ces, pollutants, or wastes by Envirom-nental Law and the
l'bllowing substances: .gasoline, kerosene, other ilammable or toxic petrolemn products, toxic pesticide~
~d herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive rna~ed~;
(b) "Envff'onmental Law" means federal laws and laws of the jurisdieti0n where the Property i~ located that
relate to hea. lth, safety or environ, mental protection; (c) ,,
"Envirom'nental Cleanup includes any response
action, remedial ~ction, or rernov,al action, 'as del'meal in ~wironmental Law; and (d) an "Environmental
COndition" n'~anx a condition thai Can cause, comribute tO, or other, vise trigger an E~vironment~l
Cleanup. ..
Borrower shall not 'cauSe or permit the presence, u,e, disposal, storage, or release of, any Hazardous
Substances, or threaten to 'rele~e m~y Haz. ardous Sub,ranch:s,- on or in the l~ropmy. Borrow¢-r shall not do,
nor allow anyone else to 0o, anything affecting the' Property (a) that is in violation of any Environmemal
Law, O) which creates an Environmental Condition, or (c) which, due:to the presence, use, or release of a
HazardouS. Substance, ereate's a condition that adversely affect~ 'the valu~ o~ the Property~ The preceding
two sentences shall not apply to the presence, use, or storage, on the Property of small quantities o~'
Hazardous Subst~ees that are generally recognized to be appropriate to normal rcsidentM Uses and to
maintenance of th~ .Property (including, but not limitgd tol h~zardous substances in consumer products).
Borrower ~h~iI promptly 'give Lender written notice of (a) any inve¢igation, claim, demand, lawsuit
or other action by ,'my governmental or rcgulat0ry agency or private party involving the Propmy and any
HaZardous Substance or Enviromnental Law of' which .Borrower has actual know ..
Environmental Condmon, including but not limited tO, any snillin,, lc,t4-,..,:...,- .- ,ledge. Y'of
release !b) an
any Haza.rdou~ Substance, and (c) any condition causecl by.the presence, use or release of a
Hazardous Substance which adversely affect~ tM.value oi' the Property. If ~orrower learns, or is notified
by any govermental or regulatory'authority, or. any private Party, that any removal or other remediation
of *uy HaZardous Substance greeting the Proloerty is necessary, Borrower shall promptly take all necessary
remedial actions in a¢cord,'mce with En'4romnm~tal Law. Nothing h~ein ~all create any obligation on
Le~der for an Environment~ Cleanup.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant ,'md agree as £ollow~:
Z:Z. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following
3orrower's breach or ~y corec, ant or agree, rnent in this Security Insn'ument (but not prior to
acceleration untler $~tion 18 unless Applicable I, aw provides othe. r'~"ise). The notice shall sp~:ify: (n)
the default; (b) the ~ction rettuire~l to cure the derattlt; (e) a date, not le~s than 30 days trom the date
the notie~ is given to Borrower, by wki~ the det'ault m~t be cured; and (d) that ranure to ~ure the
ddaull: on or bel'ore the date spoilt'led in the nolice may result: in acceleration ot' the sunu secured by
this Seeurlt:y Instrument and s~e or the Property. The notice shall rur~er inform t~orrower or the
rlght to reinstate ~rter acceleration and the right to bring a court action to assert the non-existence or
a del',~ult or any other detente or Borrower to acceleration ~nd s~.le. Il' the det'ault is not em'ed on or
be.l'ore the date speeiliecl in the notice, Lender at its option may require immectiat~ payment in tull or
all sum~ s~uretl by tt~, Security Instrument without l'urthe, r demand and may invoke the power
sale and any other reme~lie~ ~ermitted by Applicable L~w. Leader shall be entitled lo toll~t
expenses incurred in pursuing the remcdie~ l~ro'~5.ded in ~ Section 2Z, including, but not limited to,
reasonable attorneys' ree.s nnd costs or title evide, nce.
Ir Ltmder invokes the power et s~e, bender shall give notice o1' intent to t'oretlose to Borrow,r
anal to the person in possmsion or tl~e r'rol~rty, ir dirrtrent, in accordance with Applicable Law.
Lender shall give notice of' the sale to Borrower in the manner pro~i~¢d in Section IS. Lender shall
publish the notice or sale, an8 the r'ropert~y shall be s01d in the manner prescribed by Applicable
Law. Lender or its designe~ may purch~e tl~e Property ~t any sale. The pretzels or the sale ~.l~all be
apl~lied in *he following order: (a) to all e.'t'penses or the ~e, indurling, hut not limite~
reasonable att~me:ys' fe~s; (b) to all sums se~urt~ by this Security Instr'ument; anti (¢) any exe~;s to
the person or person~ legally entitled to i~.
2:3. Re. lense. Upon payment of all ,urm ,¢curecl by this 8e~rity Irmrument, L¢'ncler shall rele~e this
Security Instrument. 3orrower ~11 pay any reeor~tion co,ts; Lr.-nd=r may ~m'ge Borrower a lee for
r~le~ing ins Securiw Instrmnent, but o~y il' the lee is p~d to a thir~ party for services rendered and the
charging of the fee i~ permitted under Applicable Law.
24. Wnfvar.~. Borrower rele~e~ ,'md waive~ ~1 righ~ under and by virtue of. the homestea~l
exemption lau,~ of Wyoming.
~-~(Wy) Iooos} ~',~, ~,t ~ 'i Form 3051 1/01
BY SIGNING BELOW, Borrower accepts and agrees to the termg and covenants eontained in this
Security Instrument and in any Rider e. xecutecl by Borrower and recorded with it.
Witnesses:
x,.~osa~,~, x~m, I~:~'cHo~ss ' (sea)
BOrrOwer
(Seal) __
-*orrower (Seal)
.Bnrrowcr
(Seal)
· Borrower (Seal)
-BnctOwer
(Seal) _
-l~orrow,r
.Bon'nwer
(~;6{WY) Iooo~; ~:.:" 1,~ot ~$ i Form 3051 1/01
STATE OF WYO1VffNG, LI~rCOLN'
County ss:
The foregoin$ instrument was acknowledged before me [h.~ AUGUST 15, 2001
by JOS~PH KENT N~CHOL~$ ~ C-ARoLy]q~ B NTCEOLES
My Commission Expires:
Form 3051 1/01