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l'l![ JAC~L, ON S'fA'[[ E/,,I.IL &
l'RUSl'
]12 CENTE!R ST.. P 0 I:~OX
1788, JACK.~ON. WY 83001
Prepared By:
[orene Car[er
........ : ............................... ISpacc Ah.ye TId",; Line F,u,r l'N,,t,,,rdi,~g D;,la] ..............................................
MORTGAGE
1) L:FI N Fl'lOSS
Words used in multiple se,~tions of dfis d()cmllelll ;Ire dcli,~ed I)dow and other words are dcllncd in
Sections 3, Il. 13, 18, 2(} mid 2l. Ccrtai ~ rules regarding the usage o[ words used in Ibis doctrine.! arc
also provided iii Scclion 16.
(A) "Sect.ltv.. Instrument" means this do,:umcm., which is dated July 1, 2004
togclhcr with all Riders lo this documtqlt.
(B) "lh)rrower'~ isChar'lE; T. ()pOl'l(i[I a[Id Latlra [?. LopOltlarl, [.{LlSbflr/d arid
~, [ 1 ttleS
as tenarts [')y the :. ' ':, '
Wi fe,
Bt') 'r( wet is ihe mortgagor u'~dcr this Scc.rilv Instrument.
(C) "Ix'luler" is TIlE ,.1A(]~S(_IN 5[Alti. f¢.lil<. & Tf'~IJSI'
Lender is a :~tat, e Bank
urg;mized and existing under thc lax~s of
THE .)IAI[: OF WYOMII'IG
"' _~,~,4,3, 5,_
L OF'[MAN, C- I ERM r- >: -~, = ,~
WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Paga t ~1 !5 MW~,"~Ot l~mlats~
VMP ~?()I~TGAGE: ffO~M$, I800i521-729
Form 3051 1i01
Lender's address is 112 C[N[ER Sl',. I)0 BOX 1788. JACKSON. WY 83001
[,ender is tile mortgagee under Ihis Sccurily Inslrumcnl.
(D) "Note" means tim promissory hole signed hv Borrower and dated J[l]y 1. 2004
The Nora stoles Ihal Borrower owes [.cnder ()Fie HuFIdFed Fifty Si x T;'lOUSd~ld and no/100
Dollars
dj,S, $ ~56,000.00 ) plus intcrcsL Borrower has promised Io pa)' tills dcbl in regular Periodic
P~o'mcnts and to pay d~c debt in lhll not later d~an duly 1. 2034
(El "Prol)er{y" means I1}c properly that is described .bdow under thc heading "Trmmfer of Righls in Ibc
Property,"
(F) "Loan" means thc debt c('idcnccd by linc Note, plus imcrcsl, any prepayment charges ami late charges
duc umlcr d'le Note, and all s~m~s duc under this Security Instrument, plus interest.
(G) "Riders" means all Rid, rs lo lhis Securily Instrument thai are executed hy Borrower. Thc lbllowing
Riders are lo be executed by Borrower [check box as applicablcl:
~:~ Adjustable Ram Rider [~] Cfmdominimn Rklcr ~] Second l[omc Rider
~] I18 ool Rider ~J Planned [init Dcvelopn~cm Rider ~ 1-,1 Family Rider
~] VA Rider ['~] Biweekly Paymenl Rider ~J OIhcr(s) [specil~']
(Il) 'b~q3il)licable Law" means all comn:lling applicable federal, state and h)cal statutes, regulations,
Ordinances mid administraliv'c rules.and orders (that have Iht cfikct of law) as well as all applicable final,
non appealable judicial opinioos.
(I) "Community Association Dues, Fees, and Assessments" means all dues. k'cs, assessments and other
charges that are inlpost'd o.n Borrox~er or the Property by a condonfinimn association, homeowners
association or similar organizhli<m.
(J} "Electronic .Funds Tr:msfca .... ca ~s any translYr of Ihnds, other ihan :t trallsaclioIl originated by
check, draft, or similar pap::r insmmlcnt, which is initiated througl an elkclmnic terminal, tdq}honic
instrument comp,ret, o? magne ic l; pc so as t~ order, instruct, or aulhorize a financial instilution lo debit
or credit an account. Such IL'mi inchldcs, bill is ilo[ Ihnilcd Io, poinl--o[ksale transfers, autollmi:ud relier
nladlille transtc ions i. ransl~rs iniliatcd by telephone, ;~ire iranslkrs, and autonlaled clearinghouse
1 ral:ls[~ers:~
(K) "Escrow .llems" means t~iose items thai arc described in Scctiun 3.
(1,) "Miscellaneous Proceeds" means any compensation, sctdcmmn, award of damages, or proceeds paid
by any third party (other titan insurance pn~cccds paid under thc coverages described in Section
damage Io, or des ruction o1', thc PIopcr y; (ii) Col~dcmnatitm or olhcr laking o1' all or any pal~ of the
Property; (iii) conveyance in lieu of condcnmaiion; or (iv) misrcprcscntatiop's of, or mnissic, nS as Io, die
value andh)r condition of the Property.
(M) "Mortgage Insurance" means insurance protecting Le[tdcr against tim ntmpaymcnl
the ix)am
(N) "Periodic Payment" means flit regularly scheduled amounl duc tbr (i) p~incil)al and interest tinder the
Nole, plus (ii) any amounts u'mlcr Scctitm 3 of lhis ~ccurity JI1MrunlcI~I,
(O) ~,..o, t~ means dm Rc~d Estate Sctdcmcnt I'roccdurcs Acl (12 II.S.C. Section 2601 el seq.) and its
iml]lcmcnting regulation, Regulation X (2,1 C.F.R. Part 3500), as they might be amended from
time, or any addit onal or successor legislation or rcgolation lhal governs the Same subjecl mailer. As used
in Jhis Security Inslnmlcni, "RESPA" rclcrs m all requirements and restrictions Ihai arc imposed in regard
to a "lctlcrally related mortgage h)an" Cvcn il' lhe Loan does ool qualil}' as a "lcdcrMly rclalcd morigagc
oan' umlcr RESPA.
LOPEMAN, C-TERH 58473752 0
,-filWY) ~oc;os~ p,~ge 20~ ~5 Form 3051 1i01
(P) "Successor in Interest of Ihu'rower" means any party du~t has taken lille lo the Property, whelher or
no~ that party has assumed Borrower's obligations under the Note ami/or this Security lnsmm~cnt.
T'RANS FL:R OF RIGIF['S IN TH E PRO PERTY
This Security Instrument secures to Lender: (~) thc rel)aymen! ~1' thc Loan, and :all renewals, extensions and
modifications of thc Note: :llltl (ii) thc per fore,ante of Borrower's covcnants and agreements under this
Security h~slmmcnt and Iht'Note. For this purpose. Borrower does hereby mortgage, grant and convey to
Lender and l~cnder's succes:,ors and ass~gus, with power of sale, lilt l~filowing described prt}pe~ty located
in thc Co[:,n t.y of L'i nco l n :
IT5 pc of Recol ling Juri~dicthm] IName oI Recording lurisdictionl
Legal ctescr'ipt;ion a*;toched heret~o and made a port, thereof_
Parcel ID Number:
267 R~mf'i re
El:nd
(" Prope rt y .A ddres s
which currently has the address of
iS,ced
Wyuming 8311~ IZq~ (:-del
TOGETHER. WI. Ill all tile improvements now or hereafter erected tm thc i)ropcrty, and all
easernems, apl:mrtenances, mid i-ixmres now or hereafter a parl of Ibc property. All replacements and
additions shall also be covered by l]l[s Security Insmm~cnt. All of the [bregoing is relkrred Io in this
Security Insmnnent as the "Property."
BORROWiiR COVENANTS that Borr )wer is lawhfiiy seised of thc estate hereby conveyed ;md has
the right Io mm;ieage, grant and collvey file 1 rt}l err3, and thai Ihe Property is tmcncumbered, exccpl fin-
encumbrances oI' record. Borrower warrauts and will defend generally thc title to thc Property against all
chlJlllS aud demands, sul~jcc~ lo any c~[Iculllbr~Hlces o[ record.
TIllS SECURI"I'Y 1NSTRU M ENT combines un ilbrm covenants 'or national use and non-milform
ct)vellmlts with [hldled variations by ,jurisdictio~ to conshlutc a uniform security instrument covering real
property.
UNIFORM COVENANTS. Borrower and [_cndcr covcnaut and agree as lk)llows;
1. Payment of Princ:~pal, Interest, Escrow llems, Prepa3ment Chargt~, and l.a'le Chargt~.
Borrower shall pay when d~m tl~c pr nc pti (d, and inlcresl tm, thc debl evidenced by thc Note ~md any
prepaymeut .charges and late charges duc under thc N~le. Borrower shall als~) pay fimds lk)r Escrow Items
pursuant to Section 3. Pay~7:~cnts due umlcr d~c Note and this Security Instrument shall be made in U.S.
cmrency, llowcver, if any c,~cck or mhcr insl~ ument received by Lender as paymeni m~der lhe Note or this
6(WY) Fo0O5} Pa~e3o~ ~s Fo~m 3051 1/01
Security Instrumel~l is rcltlrl~ed Io [.endcr unpaid, Lender may rcquhc lhat any or all subsequenl pa)lllelllS
due under the Nole and lifts Security hlslrtnne~ll be made in one or more of Iht lbllowmg titans, as
selccicd by Lender: (a) cash; (b) ii~o~lcy order; (c) ccrlil'icd check, bauk check, Ireasurer's check
ca,~hicr's check, prov ded m~y such check i,s drawn upon an insl~lution whose dcposils are insured by a
federal i~gency, inslrulneniali y, or entity; or (d) Electronic Funds TransDr.
Paytllenls are deemed r:ccived by Lcmler when received al die location designated in dw Note
such other location as may I)e &signaled by l.cnder in accordauce wid~ lhe mnice prowsions m Sccli(m 15.
Lender may return any pl yl'nent or partial paymenl ii die payment or parlial payments are insufficient to
bring the Loan current, l.emlcr may accept any payment or partial paymcnl insufficienl lO Nmg Iht Loan
.currem, wilhout wnivcr of any rights hereunder or prejudice m its rights m rcfl~se such paymcm m- partial
payments in lhe future bul Lender is n.t ol)l galed lo apply such paymcnlS at Iht time such paymcnls arc
accepted. If each Periodic Payment is applied as o1' ils scheduled due dale, then Lender need no~ pay
interest on unapplied funds. Lender may lndd such unapplicd fuuds until Bon'owcr makes payment lo bring
lhe l.oan current. If Borrower does n,t do so within a reasonable period ~ f l;mc, l.cnder shall cilher apply
such flmds or return the n to Borrower, If nol applied earlier, such fimds will be applied to ll~e outslanding
principal balance under dm No~e immediately prior m ibreclosurc. No ofl3cl or claim which Borrower
might have now or in the flm~re agahisl Lender shall re.licve Bm mwcr from making paymcnls due under
the Nulc and this Security lnslrumenl or pcrlbnning the covcnanls and agrcemcnls secured by d~is Seem ily
2. Application of l'nyments or l'rocee(ls, Exccpl as ,d~trwisc described in this Scclion 2, all
payments accepted and applied by Lender shall be applied in the tbllow ng order of priority: fa) intcrcsl
due under thc Nole; (b) principal due trader the Nole; (c) amounls due raider Section 3. Such payments
shall be applied to each Periodic Paymem in d~c order in ~hich il became due. Any remainiug
shall be applied first m .lale charges, second to any t~thcr amounls duc under this Security Inslrmncnl, ami
then to reduce thc principal balance of the Nt~te.
11: Lender receives a .p%,mcm I'roul Borrower lbr a delinquent Periodic Paymcnl which includes a
sufl'icient amount m pay an): late charge due. Ihe paymem may be applied I~ thc tlclinqucnl payment and
the hue charge. If more dnm m~e Periodic l'ayment is outstanding, l.endcr may apply any payment received
from Borroxvcr to the repa3qhent of tl'~e Periodic Payl~lel~tS if, and m the exle~l d~at, each paymenl can be
paid in full. To ibc extent ih'at any excess exists al'tel ihe payment is applied to d~c fidl paymcn/ol' one or
more Periodic Paymenls, such excess may bc applied io any lalc charges due. Vohmtary prepayments shall
be applied firsl lo any pre ~a~mcnt charges alld d~cn as described in the Nole.
Any applicaiion of pay~ncnls, insm'ancc proceeds, or Miscclhmcous Proceeds to principal duc under
lhe Noie shall not cxteml or postpone Iht~ duc tlatc, or changc d~c amount, of the Periodic Paymenls.
3. Funds for Escrow llcms. Borro~cr shall pay Io Lender tm d~e day Periodic Paymcnls are due
under lite Note. tmtil ihe Note is paid in full a stun (file "l.;unds'') Io lmwidc for pas'mcnl of fllllfltllllS due
lbr: (a) taxes aud asseSSlllCill4 mid olhcr items which can at. lain prJorily over II, is Sccm'i~y lnstrumenl as n
lien or encumbrance on thc Properly; (b~ leasehold payments or ground rcnlS on thc Properly, if auy; (c)
premiums f.r any and all insurance required by l..ender under Section 5: and {d) Mortgage Insmnnce
I~renfimns, if any, or nny stuns pi~yablc b) B.rrowcr Its l.cndcr ill lieu O[ die pilymelll of Mortgage
Instmmce prcmimns ill acc~.~rdancc wilh Ibc pnwisiolls ~d' Section 10. These ilcms arc called "Escrow
Items." At origination or i11 qHy lime during lite term of die Loan, l.cnder may require thai C~mmmnily
ASSOU ill I)11 [)lieS, Fees, alit=. Asscssmcnls. if ally. be ese[owed by Borrox~er, alld such dues, fees and
~tsscssmenls shnll be mi Escrow Item Bormxvcr shall i~romptly lhrnish to Le~idcr all ~lolices tsl' amounts
bc paid under this Set'lion. t.ormwcr shall pay l_endcr II~c Funds fi)r Escrow Items unless l.cnder waives
Bom)wer's obligation lo PaY die Funds fi,r any or all Escrow Items. Lender may waive [lorr~lwt'r's
obligation lo pay lo Lender i:unds f,~r any or all Escrow hems al ally linde. A~y such waiver may .nly be
in writing. In die event of such waiver, IMrrower shall pay dirccdy, when inld where payable, Ihe amounts
l_ OPENAN , C-TERN .,d47 J 702 0
;6{WY) *ooo~ P~ga4 o~ ~5 Form 3051
dne Ibr an)' Escrow Items fO~' which pa.5 IllClll o1' Funds has heen waived by Lender m~d, if l_endcr requires,
shall furnish ~o Lender receipts evidencin~ such payment within such time period as Lender may require
Borrower's obligation Io make sucl'~ payments al~d to provide rece~pls shall l?~r all purposes bc dccmed
be a covell[lll[ alld agl'(~tllOllt contained m this Sccurily I.ustrumcnt, as Iht phrase "CO¥~llalll lllld ~gl'CUIlI~IlI"
~s used in Section 9. If Borrower is ohligalcd to pay Escrow llems dirccdy, pursuanl to a waiver, and
Borrower fails Io pny thc all.lOnlll dtlC lbr an Escrow Item, ].t:lldt:l- may exercise ils righls t~mlcr Seclion
and pay such amounl and B ~rrower shall dion be obligated under Scclion 9 Io repay lo Lender any such
al'llOtlill. Lel~tler Il]ay Fevokc die waiver a~ Io any or all Escrow Items at ally lhne by a ~lolice givcu
accordance wilh Section 15 alld, ltpoll such rcvocalion, Borrower shall pay lo Ecnder ali }:unds, m~d in
sltch amounls, ltl~ll are lhell required under lhis Seclion 3.
kender may. al lilly dine, collccl alld hold Fluids in all alllOlull (a) sufficient lo permit Lcnflcr Io apply
lhe Funds at ll~e lime specified under RESI"A, and (b) not to exceed lhe maximum amouni a lender can
require under RESPA. l.ender shall cstimak' d~e amotlnl of Funds dllc o~1 lhe bnsis of currenl dala nnd
reasonable cslh~ales of cxpendilurcs of l'tll/u'e Escrow ]lelllS or otherwise ill accordance wilh Applicable
Law.
Thc Funds shall be held iu an inslimfio.n whose deposits are insured by a I~dcral agency,
h~slrumcnlalily, or emily (including Lender, if Lender is an institution whose deposits nrc so insnrcd~ or in
any Federal Home l.oau ~ank. [.cndcr shall al)ply iht Funds I(') pay tile Escro,v Items no later than lilt
specificd under RESPA. l.cnder shall not charge Borrower tur holding and applying the Funds, anmmlly
allalyzing Ille escrow accotmt, (-)r verifying Ibc Escrow Items. unless I_cnder pays Borrower inleresl on die
Funds and Applical)le Law 15crmits l.cndcr Io make such a charge. Unless au agreement is made in wtidng
or Applicable Law requires h~lcresl it) be paid t)n file Funds, I.cndcr shall nol be required h.) pay Borrower
any illlercsl or earnillgs oll )l~c Funds. Bm'Iowcr aiR] Louder t:an agree in ~riling, however, thai interest
shall be paid (m tl~e Ftulds. 'i_cndcr shall ~ivc to Borrower, %vilhoul charge, au allnual acct)unling of
Funds as required by RESPA..
If lhere is a surplus of Funds held in escrow, as defined nndcr RESPA, Lemler shall account
Borrower fi.)r thc cxt:css liln(ls in accordance wid~ RESPA. If d~erc is a shortage of Funds held in escrow,
as defined under RESPA, l.tndcr shall nodfy Borrower as ~CtlUircd by RESPA, and Borrower shall pay lO
Lender ll~e amount necessaU It) make up tl~c shortage in accordance with RESPA, t)u~ m no more dura
n)ondfly I)aymeuls. I1' there i~ a deficiency (')f Funds held in escrow, as defined under RESPA, Lender Shall
notil~ Borrower as required by RESPA, and Borrower shall pay Io [_cndcr Ihe amounl necessary lt. make
up ihe det]c:ie)lcy il~ accordarce wid~ RESPA', but in no )l~orc dian 12 mo~llhl} paymcnls.
Upon payment in lifll (d-all stuns secured by i'his Securily Instrmncni, I_cnder shrill prompily rel~)nd
to Borrower nny Fumls held hy Lender.
4. Charges; 1.lens. Uorrowcr shall pay all ta.xcs, asscssmcms, charges, lines, and imposilions
altributable lo the Pruperty which can auain l)riorily over lifts Security lnsmm~enl, leasehold payments or
grouml rents (m Ihe I roperty, if any, and (oHImtllllly Associalioll I)ucs, Fees, and Assessmcnls, if any. To
tile exleni Ihat tht~se items ar~: Escrt)w Ilcms, Borrower shall pay d~cm in It~c manner i)rovidcd in S~ctioil
Borrower shall prompdy discharge any lien which has priorily over this Securily Insmm~ent unless
Borrower: (a} agrees in wri~i'ng io thc l)ayrue~li of Ihe obligal on secured hy linc lien in a manner acceplable
to Lender, but ollly so long as Bt)rrowcr is pcrli)rming stlcll agreement; (b) conlcsts die lien in good faidl
by or dclkmls aga nsl enfor,.'cmcnl t)f thc lien in, legal procc(:dings whk'h in 1.cndcr's opinion operate to
I)revcnl lhe cnibrcemenl o'd~e lien while d~()sc proceedings arc pending, bul only until such pioceedings
are concludt'd or (c) secures from thc holder of lhc lic~l a~l agreement salislhclory Io Lender subordillaliug
thc lien to this Sccnrity Instrument. If Lender tlelcrmixles d~at any part of Iht I)r{ pcrly is subjecl Io a lien
which can auain priority over lhis Sccurily lnslrument, Ecndcr may give Borrower a notice idcnlifying
lien. Within 10 days of thc date on which that notice is given, Borrower shall satist~ ~l~e lien or take one or
more of the actions set R~nh.above in this Scclicm 4.
l_ender may require Borrower to pay a one-lime charge fi~r a real estate tax verification and/or
reporting service used by Ixndcr in ctmnecti~m with lhis Loan.
5, l~roperty ll~stlrtlllCe Borrower shall keep the illlpl'ovemelllS llOW existing or hereafter erected on
the Property insured againsl loss by fire. h;~ards included within the term "extended coverage." and any
other hazards including but not limiled to. earthquakes and lloods, h~r which Lender rCtluircs insurance.
This insurance shall be mainlaincd in thc amounts (including deductible levels) and li'~r the periods that
Lender requires What ke~id~.'r rctluircs pursuant lo the preceding sclllences Call change during Ihe teml of
the l.oan. The m. surance car~'ier providi ~g Iht insurance shall be chosen by Bo mwcr subject to Lender's
righ to disapprove Bo ro;v,zr s choice, which right shall not be exercised unreasonably. Lender may
require I/orrowcr to pay, in collllcctitm with this Loan, either: (a) a one-time charge liar flood zone
determination, cerlification and Iracking services; or (b) a oneqimc charge tier flood zone dclerntinalion
and ccrtil'icalion services and snbscqucn~ charges each time rcnmppings or similar changes occur which
reasonably might aflbcl such dctcrminati~m or cerlificmion, lhu'mwer shall alst) be rcsponsilflc li')r tt~u
payment ~1' any fees imposed by ibc J:edcral Emergency M magenent Agency in connection with the
review t)l' any Ilood zcmc deter 1'1 Il 1[I rcsttlling J'ronl all ob cciioll by B{}rrower.
If Borrower l}dls lO ln.'~inlain lilly of thc coverages describtxl above, Lender may obtain insurance
coverage, al Lender's optio,i and l~ol:rowcr's cxpc~lse, l.cndcr is untlcr no obligation Io purchase any
particular typo or alllOtlllt (}l coverage '[hcrcl'orc such coverage shall covc~ Lender, bill might or mighl
I1ol protect Borrower, Borrower's equity in ihe Property. or Ihe c~mtcnlS of I~c Properly, againsl any risk,
hazard'or liability }llld mighi provide greater ~*r lesser coverage lB*Ill WaS prCv ously in effect, llormwer
acknowledges Ihat the cost t~t' tt~c insurance coverage so obtained might significanlly exceed thc u{}s~ of
insurance lhal Borrower could have obt4int'tl. ,&ny amounls dist~tll'scd by .l~cnder tlllder this Seclioll 5 shall
become additional debt of Bi=rrower scctlrcd ~5, this Security Inslrt}mel'~t. These amounts shall bear interest
ai the Note rate lYom the daic of tlisburscn~cnl and shall bc payable, wilh such interest, upon re)lice from
l.ender to Bor:rower rcquesiing payment.
All insurance policies ~'equired by ]..cndcr and re~lewals o1' such l)olicim: shall be subject lo Lender's
righl Io disaliprove such po ties, shall include a stm~dard mortgage clause, and shall name Lender as
morlgagee and/or as an addit'ional lt~ss i~a3t.t~, l~cnder, shall have Ihe right Io l~oltl Ihe policies a~ld renewal
certificates, If Lender requires, Borrower shall promptly give to Lender all r~'ccipts of paid prcnfiums anti
rellewal notices. If Borrower obtains any form o1: insurance coverage~ nol olherwJse required by Lcmler,
fi)r damage lo, or tlcslrLiClitm O1', the Ih'ope'ty, such policy shall include a standard mortgage clause and
shall nm'nc l.ender as mortgagee and/or as an additional h)ss payee.
In thc event of loss, B0m)wcr shall give prtm~pt nolice Io the insurance carrier and Lemler. Lender
may make proof of loss il' n01 made i)rtm~pdy by Borrower. Unless Lender and B~.~rrower otherwise agree
in wriling, any insurance l~rocectls, whclhcr or nol Ibc underlying insurance was required by I.ender, shall
be applied to restoralion or repair of thc Property, if thc rcstormion or repair is t'cooomically l~asible and
l..t:nder's security is not lessened. During such ~cpair and restoration period, I._entler shall have the righl lo
htdd such insurance proceed:, until l.emlcr has had an opportunity ~o inspect such Property to cllstll'c the
work has been COml)lCted I;~ Lender's salisl'action, provided Ihat such inspection shall be undcrlnk, en
pron~plly. Lender may disbu"se proceeds l'~r thc repairs ~u~tl restoration in a single paymcnl or in a series
of progress payments as the work is c~m~plctcd. Unless an agreement is made ill writing or Applicable Law
requires intcrcsl to be paid on such insurance proceeds, Lender shall not be required Io pay [Iota)wet any
inleresl or earnings o~ suci~ proceeds. Et. cs liar public adjuslcrs or other Ihird parties, rctained by
Borrower shall not be paid out o1' thc insurance proceeds and shall be the sole obligation of Bt~rrower. If
the reSlOration or repair is m:t ccomm~ica}l3. iLmsible or l~cndcr's security would be lessened, thc insurance
proceeds shall be applied to tl~e sums secured by this Security Inslrumcol, x~ hether or not then due, with
LOPEHAN, C- TERN co,~, o. r ~
fi(WY Io~3s~ : pa~e 6 o S Form 3051 1/01
the excess, if any, paid IO Borrower. Such insurance proceeds shall be applied in ll~c ordur provided fi~r in
Scclion 2.
if Borrower abandons lhe Properly, Lvmle'r may file, nc~olialc ami stifle any available insurance
claim and related mailers, l'.' Borrower docs not respond widfin 30 days to a notice lkom Lender Ihal the
insurance carrier has olTcred to settle a claim, then Lcnclc~ may negotiate and sallie the claim. Thc 30-day
period wilt begin when Ihe notice is ~ivcn. In cilhcr event, or if l.cmler acquires the Properly under
Section 22 or otherwise, lJorrowcr hereby assigns 1o Lender (a) Burrower's righls to any insurance
proceeds i;1 all amolmt ~lOl to exceed thc amomlls unpaid under the Note or this Security [ilslrlllllClll, and
(b) any' other o1: Borrower's rights (other ihan tl~e right to any ~efimd of unearned premiums paid by
Borrowcr~ trader all insurance policies covering the Property, insofi~r as such rights are applicable lo thc
coverage o¢ thc Property. I..cndcr may Ilse thc insurance lm.)cccds either lo repair or restore the Properly or
to pay amounls unpaid under linc Note or Ibis Security htstrumcnt, whether or not then due.
6, Occupancy. Borr0(wcr shall occupy, establish, .and usc the Properly as Borrower's principal
residence within 60 days after the exucmi(m of this Security lnstrumcul and shall continue lo occupy the
Property as Borrower's prhv:ipal residence fi~r at icast one year aiier thc date of occupancy, unless Lender
otl}crwisc ngrees in writing, which consent shall tlOl be unreasonably wii:fl~cltl. ~r unlt'ss cxlenualing
circumstances exist ~.hich arz beyomi Borruwcr's control.
7. Preservation, Mainlemmce al~d Protection of Ihe Properly; Inspections. Borrower shall not
destroy, damage or impai'r thc Propclty, allow ihe Property tt~ deteriorate or commit waslc on
Properly. Whelhcr or not Borrower is ~esitling in thc Properly, Borrower simll maintain thc Property in
order lo prevent thc Proper~y l?om tlclerioralmg or decreasing in value due ~o its condition. Unless it is
ddcrmincd i)ursum~t 1o Section 5 that repair ~r rcsioration is nol economically l~asible, Borrower shall
promptly repair ihe Property il' damaged to avoid hmhc'r deterioration or damage. If insurance or
COlldelll~lalioll proceeds are paid in c. olltlec/ion with damage lo, or tile lakillg o1', Iht Properly, B~rrower
shall be reslmnsiblc for rep~.iring or restoring the Properly only il' Lender h:ts released proceeds fi}r such
purposes. Lender may disbu:'se proceeds fin' dw repairs slid restoralion in a single payment or
progress payt~le~lts as lhe w~,rk is COml)lclcd. Il' the hlst~rance or coi~demnalion proceeds are not sufficient
to repair or restore ll~e Property, Borrmvcr is not relieved of Borrower's oMigadon fi)r thc complclion of
such repair t~r reslora/ioll,
Lender or ils agent may Ilmkc reasonable cmrics up{m and inspcclim~s of thc Properly. If il has
reasonable cause, Lender m~y Jilspecl thc: inlcrior of thc improvemcms on thc Properly. Lender shall give
Borrower ilotice at the time of or prior 1o such all ilItcrior inspection specifying such reasomtble cause.
8. Borro~ver's Lmm Applicalion. Borrower shull be in dcl'auh if, during ll~e I.oau application
process, Borrower m' any persons or chillies soling al thc dh'cclion of Borrower or with Borrower's
knowledge or consent gave maleria]ly false, misleading, or imtccuratc inlbrmalion or statements I1~ Lender
(or Ihiled to provide Le~;der with mmcrial inlormalion.) in connection wi~h Ihe l.oam Matoial
representations inch;dc, but are nol limited It), rcprcscntalions c(mccrnmg Borrower's occupancy of l'he
Properly as Borrower's principal reside.cc.
9. Protection or Lender's hllert,sl in Ihe Properly slid Righls Under this St~urity inslrumeut. I1'
(a) Borrower fails to perl'orm Ibc cOVCllalltS slid agrcemenls coldaillcd in lifts Sccm-ily [llSlnllllClll, (b) there
is a legal proceeding tliat might signil]c:mdy aflect Lender's inlcrcst m ihe I'ropcr~y and/or rights nndcr
Ihis Security lnslrumcnt (such as a proceeding in bankruplcy, im~bale, for condenmalitm or B~rl'citurc,
enfi.~rccmcnl of a lien xvhi~h may allain p~i.rily over dfis Security Instnmlent or ~o enli)rcc laws or
regulalions), or (c) Borrowt? has al)andtmed Ibc Property. then I.cndcr may do and pay fi.' whalevcr is
reasonable .r approprialc Is protect Lender's interest in lhe Properly mid rights under this Sccurily
htslrumcnl, including pr(~t¢cdng and/or assessing d~c value of thc Property, and securing and/or rclmiring
lira Properly, l.c~ldcr's actions can include, Iml are ilo1 limited to: {a) paying any sums secured by a lien
which has priority over this Sccurily h'~strmnc'nt; (b) appearing in court' and lc) paying reasonable
I._{}I:'EHAN, C--I'[RH 58473752 0
;B(WY) iooosJ ' ~',~. 7 d ~r~ Form 305t 1t01
"43
attorneys' fees to protect its ~nt.ercst in thc Property and/or righl:s under this Securily Instrument, including
ils sex'uteri position in a ba,~.krul)tcy proceeding. Securing thc Property includes:, but is not limited lo.
entering ll:~e Prope~y to m;~ke repairs, change locks, replace or board up doors and windows, drain water
flora pipes, elitlfit~ate buildi[.g or other ct)dc, violations or dangerous conditions, and ha~c utilities turned
on or off~ Although Lender may take action under lhis Section 9, l. cnder does tlOl have to do so and is not
nnder any duty or obligation'to do so. It is agreed dm{ Lender incurs no lial~ility l~.)r not taking any or all
aclions authorized trader this Section 9.
Any amonnts disbursed by Lender untlcr Ihis Scclion 9 shall become additional dcbl of Borrower
secured by this Security Instrument. These amounts shall bear imerest at ibc Nole rate from the date of
disbursemenl and shall be 1)ayal)le, wiih such interest, upon notice fi'om Lender to Borrower requesting
payment.
1[ lifts Scx'urity Instrument is on a leasehold, Borrower shall comply With all the provisions of
lease. 1t' Borrower acquires fee tillc to d~c Prupcrty, the leasehold and .l:l~c l~:e title shall not merge unless
Lender agrees io il~e merger ill writing,
10. Mortgage lnsnrance. Il' Lender rctluimd Mortgage hlsurance tm a c..)nditiou of making die
Borrower shall pay the prcmimns required Io maintain thc Mortgage Insurance in cl:l~cl, i1', ibc any reason,
the Mortgage Insurance c:overagerequircd by l~endcr ceases to be available from the mortgage insnrer dm{
previonsly provkted such insurance and llorrower was required lo make segaratcly dcsignaicd payments
toward the premmms IBc Mortgage Insurance, Borrower shall pay the Frcmitmu required m ubtain
coverage substanlially equiwdent to the Mortgage Insurance previously in elliot, at a cost substantially
eqnivalent !o the cost to Borrower of Ihc Mortgage Insurance previously in effect, from an ahernat~
mortgage insurer selected by Lender. I1' suhstantially equivalent Mortgage Insurance coverage is not
available, Borrower shall.'co~dinuc to pay Io 1.cadet the amounl o[ ihe separately designated payments that
were due when the insurallc~ coverage ceased to be in efl:~ct. Lender will"accept, usc and retain these
payments as a non--refundat:le loss reserve in lieu of Mortgage Insnrance~ Such loss reserve shall cbc
~lon-refimdable, notwithstandh~g the fact Ihal {lie Loan is ultimalcly paid in frill, alld I;cnder shall not be
required to pay Borrower ail)~ interest {)r earnings on such loss reserve. Lender can no longer require toss
reserve payments if Nlortgagz Insnrancc coverage (in the amount and fi~r thc period that Lender requires)
provided by an in:surer selected by I.cmlcr again becomes axailablc, is obtained, and I.cnder requires
separately designal'ed paymchts toward thc premiums l~r Mortgagc lnsm'ancc. If Lender required Mortgage
Insurance as a condition of making the l.oan and Borrower was reqnired lo make separately designated
payments Ioward the prcmit,ms for Mortgage Insnrancc, Borrower shall pay the premiums required
maintain Mo~gage Insuranc:e in cf[ecl, or m provide a non-rerundablc loss r~scrve, until Lender's
requirement Ibc Mortgage Insurance ends in accordance wid~ any wrilten agreement he,ween Borrower and
l.ender providing tbr such ce:ruination or until termination is required by Applicable Law. Nothing in this
Section 10 aflkcis Borrower's obligation to t)ay interest al lhe' rate provi.dcd m thc Note.
Morlgage Insurance reimburses Lender (or any entily t!~at pm'chases the Note) Ibc certain losses it
may incur if Borrower doe~' not repay thc Loan as agreed. Borrower is riot a party lo ll~e Morlgage
[llsura.ncc.
Mortgage insurers evah, atc their total risk on all suet{ insurance in ibrcc [rom time to time, iuld nlay
enter into agreel~letlls with oO~er panics dml share or lnodil:~, their risk, or reduce losses. ~Fhesc agreements
are on,terms and coml ilions lhat arc satisfactory to It~e mm't.a~e. ~ ~. i~lsurer and l l~e c)ther party (or parlics)
these agreements. These agreements may require the mortgage irlstlrer to make paymenls nsing m~y source
of fimds Ilia{ the morlgage ii,surer may have available (which may include funds oblaincd I'mm Mortgage
Ins{mince premiums).
As a result of these agreemcnls, l.cnder any pm'chaser cfi' the Note, another insurer, any reinsurer,
any other chilly, or any.'affiliate of any of Ibc Ik~regoing, may receive (direcdy or indirectly) mnollnts that
derive l'rom (or mighI be churaclcrized as l a portion of Borrox~cr's payments' fc)r Mortgage Insurance, in
exchange tk~r sharing or modifying thc intfflgagc insurer's risk, or reducing losses. I1' such agrcemcnl
provides that an affiliate of Lender takes a share of Ihe insurer's risk in cxch~mge ibc a share of the
pi'emJun~s pa}d to lhe insurer, the arrangcmem is often lCrmed "captive reinsurance." Further:
(a) Any such agreements ~¥ill not afftx't the lllllOtlllls that Borrower has agreed to pay
Mortgage Ins{trance, or any other Icrms o1' the I.oan. Such agrcemcnls will m~t increase the mnount
Bm'rower will o~e for Mortgage Insurance, and they will not entitle Borr~m'er Io any refund.
I..OPEHA~4. C-TERH 58473752 0
Form 3051 1101
(h) Any such agreemenls will not alTcct lhe rights Borrower Iias - if any - with rcspect lo the
Mortgage Insurance under the I/omeo~ncrs Proledion Acl ot' 1998 or any other law. These rights
may include the riglq to receive CCFtain disclosures, to rcqut~t and obtain cancellation of the
Mortgage Insurance~ lo h~we thc Mortgage Insurance lcrminaled automatically, and/or lo receive a
refund of any Mortgage Insurance premimns that were unearned at the time' of such cancdlation or
termination,
11, Assignment of 5.[iscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds arc hcrcby
assigned io and shall be paid Io Lender.
If fl~e Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
the Property, if Ihe restoration or repair is ccononfically feasible and Lender's security is no{ lessened.,
During such repair and restoration period, I.ender sllall havc die right to hold. such Miscellaneous Proceeds
until Lender has had an oppol:tunity to inspect such l"roperty m ensure the work has bec, completed to
Lender's satisfaction, provided that such inspcciion shall be undertaken prompdy. Lender may pay {bt the
repairs and restoration in a single disbm'scmcut or in a series of progress paymcnls as the work is
completed, tlnless an agreement is made in writing or Applicable kaw requkes interest to bc paid on such
Miscellaneo. us Proceeds, I.endcr shall not bc required ~o pay Borrower any interest or earnings on such
Miscelhmeous Proceeds, Ir thc rcsloralion or repair is not economically Ikasil,te or Lcmler's security would
be lessened, the Miscel!ancous Proceeds shrill bc applied ~o the sums secured by this Security Instrument,
whether or not then due, wJtl~ the excess, if a.y, paid to Borrower, Such Miscellaneous l'ro['ccds shall be
applied in the'order provkled ti:n-in Section 2.
In the event of a lotal taking; destruction, or loss in value of thc Propc~ay, thc MJscellm~eous
Proceeds shall be applied lc thc sums secured by this Securily Instrument, whether or not then due, with
the excess, if any, paid to Borr0wcr,
In the event t)17 a partia:l inking, destruction, or loss in value of thc Property in which tl~e fair market
value of the Property immediately before thc partial taking, destruction, or loss in value is equal ~o or
g~eatcr than the amount o15 thc sums secured by this Security h~su'ument immediately bcli~rc d~e partial
taking, destruction, or loss in valne, tmlcss Borrower and l.cmlcr otherwi~;e agree in writing, the sums
secured by dfis Security l'lstrumcut shall be reduced by the amount oF the Miscellaneous I'rocccds
multiplied by the following l~action: (a) die total amount oF the stuns secured immediately before the
partial taking, destruction, or loss in value divided by (b) tl~c [~li:r market value oF tl~c Property
immcdiamly before the pard ti taking, destruction, or loss in value. Any bahu ce shall bc paid lo Borrower.
In thc cvcnl of a [)artkil taking, destruction, or toss in value oF the Property in which the lhir market
value of thc Properly immediately hcfln-c d~c partial taking, dcstn~ction, or: foss in value is less fi~an thc
amount of d~e sums secures immediacly bet0re the' partial taking, destruc:tion, or loss in value, unless
Borrower and Lender ()therwisc agree in writing, the Miscellaneous Proceeds shall be applied to thc sums
secured by ibis Security lnst:tt,netll whether or l~t:)t the sums are Ihen due.
If the Property is abandoned by Borrower, or if, after notice by l.ender to Borrower thai the
Opposing Party (as defined in. thc next scntc,cc) ork. rs to make an award lo settle a claim Ibr dmnages,'
Borrower fails to respond tc Lender wiflml 30 days after the date thc notice ;s given Lender is authorized
to collect and apply the Miscelhmeous Proceeds either to restoration or repair of thc l'ropcrty or to II~e
stuns secured by this.Security Instrument, whether or not lhen duc. "Opposing Pakay' means the third party
that owes Borrower Miscellaneous Proceeds or Ihe party agaim;l whom Borrower has a right o[ action in
regard to Miscellaneo,s Procueds.
Borrower shall be in d,:fault iF any action or proceeding, whether civil or crimJmtl, is begun that, in
Lender's judgment, cotlld ~csult iu Ibrk'iturc oF the Property or otl~er material impairment o[ Lender's
interest in the Property or r,{ghts under this Security Instrument. Borrower can cure such a defauh and, if
acceleration has occm'red, reinstate as provided in Section 19, by causing d~c action or proceeding to be
dismissed widl a ruling thaL :in Lender's judgment, precludes 6)rt~iture of d~c Prope:rty or other material
impairme:nl 0f kender's interest in die Property or rights trader this Securigy Instrument. q~c proceeds of
any award or claim tot damages that are attributable to d~r impairment of Leader's iutcrcst in tl~c Property
are hereby assigucd and shah be paid to l~endcr.
All Miscellaneous Proceeds diat arc not applied to restoration or tCl:~air of thc Property shall be
applied in file order provided li)r in Sccti~m 2.
LOP[HAN, C-TERM 58473752 0
6(WY} {O00Sl p~.:.,¢, ~ c4 ~5 Form 3051 1101
12. Borrower Not P. eleaseS; Forbc;~rance By Lender Not a Waiver. Extensmr! of the time
payment or moditication of amortization of the stims sccttrcd by this Security lnstrtm'mnl granted hy l.endcr
Io Borrower or any Stlcccssor ill lnlere~t of B(~rrower shall not operate to rcl:asc Ihe liability of Borrower
or any Successors in Interest' of Borrower. Lender shall not be required to ctmm~encc proceedings against
any Successor in Interest o;' Borrower or to relhse to extend time Ibr payment or otherwise modify
amortization of the sums secured by this Security Instrument by reason of any demand made by the original
Borrower or any Successors in huercst of [h~rrower. Any fi)rbcarance by IxnJer in exercising any right or
remedy including, without limitation Lender's acceptance of payments from third persons, enlides or
Successors in Interest of Borrower or in lt[l'lUUlllS less t]latl thc alllOUllt Ilion due, shall llOt be a waiver of or
prech~de thc exercise of any right or remedy.
I3. Joint and Several Liability; Co-signers; Successnrs and Assigns Bound. Borrower covenants
and agrees that Borrower's obligadous and liability shal be joint and several. However any Borrower who
co-signs this Seem'try Instrument but docs not execute tt~c Note (a "co.-stoner ) (a) is co-signing this
Security Instrument only lo mortgage, grant and convey the co-signer's interest in the Property under the
terms of this Security histrtu..lent: (h) is not personally obligated to pay the sums secured by this Securily
hlstrument; and (c) agrees that Lender and any other Borrower cal~ agree to extend, modify, Ibrbear or
make any accommodmions with regard Io tt~c terms of this Security tnstrmneni or the Note without the
co-signer's consent.
Subject lo the proviskms of Scctio~ 18, any Succcss¢~r in Inlerest of Borrower who assnmes
Borrower's obligations unde, this Security Instrnment in wri lng, and is apptt)ved by Lender, shall obtain
all of Borrower's rights, and 'benefits under this Secnrity lnslrun~cnl. Borrower shall not he released
Borrower's obt gations and l:ability under i.his Security Instrument unless l.cndcr agrees to such release in
writing. The covenanls and agrecmems of this Security lnslrmnent shall .)ind (except as pr{}vitlcd
Scclion 20) and benefit the .sclc ccssors alld assig~ls of Lender.
14. l.oan Charges. Lcmtcr may charge Borrower fccs li}r scrviccs pcrlk~rnled in conncclion wilh
Borrower's default, Iku' die propose of prolccling Lender's in~crcst in the Properly ami rights under lhis
Security hxstrumcnl, including, but m>t limilcd to, attorneys' lk:cs, pn perry inspcclion and valnation Ices.
In regard to any other IL'es, ll~e absence of express authority in this Security lnstr mmn lo charge a specific
fcc Io Borrower shall not be construed as a prohibition on thc charging of such {kc. Lcmler may not cha~ge
k'cs that arc expressly prohibited hy this Security lnsinmicnt or by Applicable Law.
If thc Loan is sul[jcct to a law which sc~s m;tximum loan charges, and thai law is finally inlcrl)rcted so
thai tl~c interest or other loan charges collected or to bc collected in connct:tion with Ibc ~oan cxcccd thc
pcrmillcd limits, the~l: (a) az~y such loan charge shall be reduced by die amount ncccssa~' ~o reduce the
charge m die i)crmitted limit~ and (b) any sums already collected from Borrower which exceeded pcrmitlcd
liniJts will bc refunded io B'~rrowcr. I~cndcr may choose to make this retired by reducing Iht principal
owed under l!~c Note or by making a direct payment to Borrower. Ifa :refund reduces prmcilml, the
reductkm will be Ireatcd as a partial p/cpaymcnt without any prepayment charge (whcd~cr or not a
prepayment charge is pmvid':d liar under lilt Note). Borrower's acceptance of any such ~cfund made by
direct paymcm to Borrower will constilulc a waiver of any right of action Borrower migh~ have arising out
01' stlch overcharge~
15, Notices, Ail nolice; given hy Borrower or kcndcr in connection w'illl lhis Security ]nslrumenl
must be in writing. Any m)ti{:e lo Borrower in connection with this Secm'ily Instrument shall bc deemed to
have been given to Bormwe:' when tn;died I*y first class mail or when ac. tt~a.lly delivered to Borrower's
notice adth'css if scat by other means. Notice io any one B(m't.~wcr shall cons:.ilute notice to all Borrowers
unless Applicable Uaw express y requires ~.}fl'~crwisc, qq:c nolice address shall' be Iht Propcriy Address
unless Bt~rrmvcr has desiglla~ed a subslitutc nt~ticc address hy notice to t.cndcr~ Borrower shall prmnptly
notil~ I.cndcr of Borrower's'change o1' address. If Lender spccilics a procedure lbr reporting Borrower's
chauge of address, Ihcll Borrower shall only rclmrt a change of a(drcss dmmgh that spccilicd procedure.
There may be only one designaied notice address under this Security Inslnmenl at any one lime. Any
notice to Lender shall be given by delivering it or by mailing il by first class mail lo 1.clitlcr's address
stated herein unless 1.cndcr has design;dod anothvr address by uoticc tt? Borrower. Any nolice
colmeclion with this Sccurit} hxstrumcnt shall llt)l bc dccmcd Io have been given io Lender until aclually
received hy l.rmlcr. If any notice required hy this Sccurily Instrumcnl is also rcqttJrcd under Applicable
Law, the Ai)plicablc t. aw r':quircmcnt will satisfy the corresponding rcqttircmcnt trader Ihis Sccuriiy
[ltstrulllcnt.
t. OP[ HAN. C-.-[ERH 58'473752 0
-6IWY) ::,~o~} r~a. ~o ~,~ ~s Form 3051 1 !01
I6. Governing l,aw; Severabililv; Rules of Construclion. This Security lnstrunlcnt shall be
goverued by l~'dcral law and the law of the jurisdiclion in which the Property is located. All rights and
obligations contained in this Security lnslrumcnt arc sul~ect to any req~)ircnmnts and limitations
Apl,Ii.cable Law. Applicable Law might cxplicidy or implicitly allow thc pmfies to agree by contn~cl or
might be silent, but such silence shall not be construed as a prohibilion against agrcemcn~ by conlracl. In
the evem that any provisiou or clause of this Security Instrumcn~ or thc Note conflicts with Applicable
Law, such conflict shall nol al'l~ct other provisions of this Security Instrument or dm Nole which can be
gi yen eflkct without the con []icting provision.
As ust:d in this Secm~ty Instrument: (a) wtmls o[ ibc masculine get, der shall mcan and include
corresponding neuter words or words of lira lk'minine gender; (b) words ir( the singular shall mean aud
include the plural and vice Versa: and (c) thc word "may" gives sole discretion without any obligation to
take any action.
17. llorrm~'er's Copy.: Borrower shall bc given one copy oF thc N¢~te anJ of this Security lnstnm~cnt.
18. TransFer or Iht Property or a Beneficial Interest in Borrm~er. As used in thik Section 18,
"Interest in d~e Property" mmms any legal or beneficial iutcrcst il~ thc Property. including, but not limited
to, those benelicial interests translkrred in a bond for deed, contract for deed. instalhncnt sales couuact or
escrow agreement, ihe i~ltenr of which is thc h'ansfcr t)]' lille by Borrower at a lknure date lo a purchaser.
If all or any part of the Property or any lutcrest in die l;ropcrty is sold or trm~slkrred (or if Borrower
is not a natural person and a beneficial imcrcst in Borrower is sold or ~ranslerred) without Leudcr's prior
written consent, Lender may require immctliatc payment in Full of all sums secured by this Security
lnsmm~ent. However, dfis option shall not be exercised by l.cndcr if such exercise is prohibited by
Applicable Law.
if Lender exercises fids opliou, Lc,der shall give Borrower notice of acceleration. Thc notice shall
provide a period of not less than 30 days Frmu thc dale lhc nolice is given in. accordance with Section 15
within which Borrower mum pay all sums secured by this Security lusmmlem. If Btm'owcr Fails m pay
these sums prior to the ex~)iradon of dWs period, Lender may invoke any remedies pcnniucd by lids
Security h~strmncul without flmhcr notice OF demand on B~}rrower~
19. lire'tower's Rigid to Reinstale After Accelen~tion. If Borrower meets certain conditions,
Borrower shall have tl~e right to have cnl?,rccment of dfis Security Instrument discontinued at any time
prior to die earliest of:. (a) live days bel'~rc sale t}f the Property pursuant to auy powc~ of sale conta[ncd in
this Security Instnmlenl; (b:) such other pcrit~d as Applicable Law might sl)cci.l}, fi)r dtc termination
Bormxvcr's right to reinstate; or (c) enuy ,~1' a judgment cnG)rcing dfis Sccurily luslmmcnl. Those
comlitions arc that Bormwe.r: (a) pays I.cndcr all sums which then wtmld be duc under riffs Sccurily
]llstrumenl aml the Note as if no acccleratltut had occurred: (b) cures rely default oF ;my other covenams or
agrccmems; (c) pays all expenses incurred in cnlbrcing ihis Security Instrument, including, hut uot limited
to, reasonable aitorneys' lk*es, property iHspection ;u~tl valuation lkes, and olhcr Ikcs incurred lbr the
purpose of prolecting Lender's interest irt thc Property and rights under this Secnrily lnsmm~cm: and (d)
lakes such action as Lender may reasonably require to assure that l.endcr's interesl iu thc Pruperty and
· rigl~ts under this Security Instrument, and limrowcr's obligation to pay thc sums secured hy Ibis Security
hlslmment, shall continue unchanged, I.cndcr may rcquire that Borrower pay such reinstatement sums and
expenses in m~c or more of thc Ihllo~ving fi,ms, as sclccled 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
;m institution whose deposits are insured by a lkxlcral ageucy, insm~memality or emit3': or (d) [~[cctr(mic
Vuads Translkr. [Jpon reinstatemcnl by Borrmvcr, this Security Instrument and obligati,ms secured hereby
shall remain fully eflkcdve as if hr) acctqeralitm had occurred, llowever, ii,is right m reinstate shall not
apply in die case of acceleration under Secdou 18.
20. Sale or Nole; Change of l.mm St, r~icer; Notice or flrievunce. 'Die Note or a partial imcres~ m
dm Note (together wilh this' Security lnstrumcnD can be sold one or more times wid~out prior uotice
Borrower. A sale might result in a chauge iu the entity (known as thc 'Toall Sc:~iccr") Iha~ collccls
Periodic Payments due und:r d~e Note and this Sccurily Instrumcut ami p~:rfom~s other mortgage loau
servicing obligations under he No~e, dfis Security Instrument, and Applicable Law. There also might be
oae ()r more changes of the'Loan Servicer mu:elated Io a sale of the Note. l[~there is a change of tl~c
Servicer, Borrower will be j:iven wriltcn m.)dcc of Iht cha,gc which will stat,; the name and address ol
new Loan Servicer, d~e address m which payments should bc made aud any other infi.mnation RESPA
LOP[MAI4, C--TERM fi~ 847375c~ ~ 0
9
requires in cozmection xvflh a nolice o1' transfer of servicing. If the Nole is sold and d~ercafler the Loan is
serv ced by a L.an Servicer ,,ther than thc purchaser of thc Nolo, lhc mortgage loan servicing obligations
to Borrower will remain with thc Loan Servicer or be Iranslkrred to a successor Loan Servicer and arc not
assumed by the Note purchast.r unless otherwise provided by the No~e purchaser.
. Neither Borrower nor l:cndcr may commence, join, or be joined to any judicial action (as eitllcr an
individual litigant or thc member of a class) lhat arises from lhe' od~er pa'ty's actions pursuant m this
Securily lnslroment or It~at alleges that thc olhcr party has In'e: ched any provision of, or any duty owed by
reason of, ihis Security lllSlnjmetll, tmtil such Borrower or Lender has notilied ibc other party (wilh such
notice given in compliance with die requirements of Section 15) of such allceged breach and aflbrded lhe
other party hereto a reasonable period after the giving of such notice lo take corrective action. If
Applicable Law i)rovides a ti~ne period x, hk:h nmst elapse betbre certain action cail be t;&en, dmt lime
period will be deemed m be reasonahlc h,' purposes of this paragraph, Thc notice of acceleration and
opportunity Io cure given to Borro'wer pt rstlallt to Section 22 and ibc notice of acceleration given to
Borrower pursuanl to Settlor 18 shall bo deemed to salislS' die notice alld opportunity to take correct ye
action provisions oF this Seclion 20.
21. llazardous Substances. As used iu this Section 2[' (a) "}tazardous Sulk'stances" are those
substances defined as IoxiC or hazardous st bs antes, pollutants, or wastes by Environmental Law alld the
[bllowing sul)slances: gasoline, keroscuc, olhcr flan]malfle or toxic petmleum products, toxic pesticides
and herbicides, volatile solvents materials containing asbestos or lb(maldchyde, and radkmctive malerials;
(h) "Environn~ental Law" tl'lffallS k'dcral laws alld laws of dae jurisdiction whece die Property is localcd that
relate 1o health, sali:ty or en'vJronmcntal protection; (c) "l~nv ~on ncntal C. can qa" includes any response
action, remedial action, or removal action, ils dc freed in lhivh'onrnental Law; and (d)all "EnvirolllllcJllal
Condilion" means a condilivn lha( Cllll Cil[iSe, conlribllle (o, or olherwJse trigger an Environmental
Cleanup.
Borrower shall 1K)I cause or permit Iht presence, use, disposal, storage, or release of mW Hazardous
Substances, or thrcalcn Io release any l/azardmts Substances, on oF in the Property. Borrower sh;d111ol
nor a Imv anyone dsc to do, '~.anything al'fcc'ling thc Property (a) that is in violation of ally Environmental
Law. (b) which creates an Environmental (Mndilicm, or (c) which, due to ttle presence, use or release of a
Hazardous.Subslance, creates, a condilion that adversely afl,ets the value of file Property. The preceding
two sentences shall not apply to the presence, use, or storage on the Property of snlall quamides of
llazardous Sttbsla]lccs Ihal ale generally recognized lo be appropriate to tl0rmal residential uses alld IO
maintenance of the Property (ncluding, but nol limited lo, hazardous substances in consumer producis).
Borrower shall promptly give Lender written notice of (a) any investigation, clain], demand, lawsuit
or olher action by ally govenm~cntal or rcgulalory agency or privaLe party inyolving the Properly and any
Itazardotls Stlbstance or Environmental Law of which Borrmver has actual knowledge, (b) any
Environmcnlal Conditioll, including btLi ilol limited to, any spilling, leaking, discharge, release or threat of
release of any llazardous Substance, and ('c) any condition caused by the 1,resence, use or release of a
l:lazardous Substance whM] adversely affects the value of the Property. IF Borrower learns, or is nodfied
by any govcrJimental or regulatory authorily, or aJly private party, lhal auy removal or olhcr remcdialion
of any l lazardous gubslancc affcctiug Ibc Pr,perry is necessary, Borrower sha'.l prolllptly Lake all necessary
remedial actions in accordance with Enxiromncnlal Law. Nolhing herein shall create any obligation on
Lender fi')r all Enviro[ lncn~al Cleamlp.
L OPEl,lAN. C-TERM
?(WY) looO~
58473752 0
Pa~l,~, 1~ ,.,~ ~5 Form 3051 1/01
NON-UNIFORIXl CO\'ENANTS. B,'~rro,.ver and Leto]er further covenanl and agree a.s follows:
22. Accelerntion; Remedies. Lender shall give notice lo Bm'rower p~ior to acceleralim~ following
Borrower's hreach of an3 em'ennnl or agrecmenl in lhis St~m'jly lnstrunlent (hut ~iot prior
acceleration under Section 18 unles~ APlflical}le I.nw providt~ otherwise). The notice shall speciry: (a)
the default; (h) the action required to cure thc default; (c) a date, not less than 30 days fro,n the date
the n{~tice is given to Bott.wet, by ,vhich the default musl he cured; and {d) lhat failure to cm'e the
default on m' before the date specified in the nolice may result in accelcr ~tion of It~e sums secured by
this Secm'ily Instrument ami sale of Ihe Properly. The nollce shall rurrher inform Borrower of Ihe
right to reinstate arler acctleration nnd the righl to bring a c.urt adion to' asserl the non-existence
a default or any other defense of Borrou~er to acceleration nmi sale. i1' the default is nul cured on or
hefore the date spcciried in' the notice, l.endcr at its oplion mn)' require imnlcdinle payment in full
ali sums stmured hy this Securily Instrunwnt without further demand and amy im'uke the p{mer of
sale and nny oth. er remedies permi~led by Aplflicable I,aw. I.ender shall be entitled to c~fllecl all
expenses incm'red in pursuing II~e fl,medics provided in this Section 22, including, but iloi limited
reasonable attorl~eys' ftx's m~d costs o1' lille c~idence.
If l.ender invokt~ Ibc power of sale, 1.endt. r shall give notice of intent to foreclose lu Borrower
nnd to the persm~ in possession or thc l'ropcrly, if dil'h:rent, in accordance ~ith Applicable Law.
Lender shall give notice or the sale to lhwnmcr in the manner provided in Section 15. Lender shall
puhlish fl~e notice of sale, and Iht Property shall be s.ld in the manner prescribed by Aplflicahle
i.a~-. Lender or ils designee may imrchase the Property nt any sale. The proceeds of the _sale shall be
applied in the foil{re'lng order: (n) tu all expense5 or the sale, including, hut not limiled
reasonahle allorneys' fees; {b} lo all sums secured I~y this Security Instrumenl; and (c) any exct~s
the person m- persons legally entitled lo it.
23. Release. Upon payment of all sums SCCL red by this Security Inslrunlen(, Leader shall release Ihis
Security ]llslrulllC:llt. Borrowe:r shall pay any rccortlation costs. Lender may charge Borrower a fee Ibr
releasing Ibis Secu[ity Insh'l n'lent, but only if the l~c is paid lo a ti' ird party. Ibr services rendered and the
charging of'the i~c is pennil }ed nmler Applicable Law.
24. Waivers. Borrower releases and waives all rights under and by virtt,c of the homestead
exemptkm hlws of Wyoming.
[0 P [iHAtq. C-T [5' RH
(~j-BIWY} iooos~
58473752
Parle 13 ,of 15
Form 3051
0
1/Ol
BY SIGNING BELOW. Borrower accel)tS and agrees to ihe terms aim covenants conlamcd in dds
Security Instrument and in any'Rider executed by Borrower and recorded with. it.
Witnesses:
(Seal)
[. Lopelllfln -Borrower
}3(~1 lOWer
(Seal)
-ttorrowcr
(Seal
lScal~
.................................................... IScal'~
-Borrov~er
I_.OPENAN. C- 1 E t,IH
(~,.,:6(WY I
o8~-737o2
Fora) 3051
0
1 !0:1
STATE OF; 5' ¢)MIN(,,
1-et. or] County ,ss:
The foregoing instrument was acknowledged bcti,re mc tl~is
byCha~'les l-. kopeman and Laura R. Lopeman. t.h~sband
by the entiret;ies
July 1. 2004
and Nife. as tenants
My Commission Expires:
M' Crm~mi~slc~ Expi[es May !,1 2006
l. OPt-'_MAN . C- I'I{RH
58473752 0
F'a,]~ ~5 ~,~ ~.", Form 3051 1101
:.eno.. ~:.:Oo_O0,.O?W ,
Office, titl~d ' JACK E :xfD ::ESS B COR~I PLAT OF TP~KCT '~ ..... , -
SECTION 2.~ T36N R
as r~',tsad ~uxj filed
- ~,.1~ [,i l,et. along lhe sc, tlta ,. . .
BLGINNING; ,' ....alcoa ~a,a :~s~ lm~ ~o th: CORNER OF
_, ~.::~ Ii'il.; :ul've~ Is ih: ea'_,l :2n~ of ),,. S~,,,t[~ of 3:~Cl. lJp, -,I -t-. -
e~:n "porn{" alarkcd bv a ': x ~ ....
i :-' ! m accorda,.'~z~ wlfi; the p:~[ ;:,repar:d to x. :Lt! :n
3 i a ,', A;:[7'
FIXED/ADJUSTABLE RATE RIDE.R
(LIIlOI~ ()ne-Yi,ar Imh~x (As l~ulflished In 7he W(tll Street JournaO- Rate
THIS FIXED/ADJUSTABLE RATE RIDER is made this 1st day of
2004 , and is incorporated into and shall be deemed to amend and supplement the
Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given
by the undersigned ("Borrower") to secure Borrower's Fixed/Adjustable Rate Note (the
"Note") to IHE JACKSON S'l"A"l"fi BAFIK & -It~,LISI~
("Lender") o[ the same da. re and covering the property described in the Security Instrument
and located at:
267 Rimf'ir'e Rd..Etna .;';Y 83118
[Property Addressl
THE NOTE PRO~IDES FOR A CHANGE IN BORROWER'S FIXED INTEREST
RATE TO AN ADJUSTABLE INTEREST RATE. THE NOTE LIMITS THE
AMOUNT BORROWER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT
ANY ONE TIME AND THE MAXIMUM RATE BORROWER MUST PAY.
ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the
Security Instrument, Borrower and Lender further covenant and agre3 as follows:
A, ADJUSTABLE RATE AND MONTHLY PAYMENT CHANGES
The Note provides for an initial fixed interest rate of 5. 5000 %. The Note also
provides for a change in the initial fixed rate to an adjustable interest rate, as follows:
4. ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates
The initial fixed interest rate I will pay will change to an aOlUstable interest rate on the
first day of,ILl])/. 2009 . and the adjustable interest rate I will pay may change
on that day every 12th month lherealter. The date on which my nitial fixed interest rate
changes to an adiustable interest rate, and each date on which my adjustable inte~esr rate
could change, is called a "Change Date."
LOPEHAN. C ~ 'rEICH 58473752 0
MW 08/01
MULTISTATE FIXEDIADJ JSTABLE RATE RIDER - WSJ One-Year LIBOR - Single Family -
Fannie Mae Uniform Instrument
~,-168R (04.01) Form 3187 6/01
Pag"~ 1 o[ 4 Initials:
MW 0~/04 (800)521-7291
(B) The Index
Beginmng with the firs[ Change Date. my adjustable interest rate will be based on an
Index, The "Index" is the average of Jnterbank offered rates for one-year U.S,
dollar-denominated deposir, s n the London market I"LIBOR"), as published in T!~e WalI,S. treet
Journal. The most recent Index figure available as of th9 date 45 days before each Change
Date is caIled the "Current Index."
If the Index ~s no Ion(, er available, the Note Holder wil choose a new index that is based
upon comparable information, The Note Holder will give me notice of lhis choice. (C) Calculation of Changes
Before each Change Date, the Note Holder will calculate my ne~v interest rate by adding
TwO ~tFiM 0l'to / Ouartei percentage points
( 2, ~00 %) to the Current Indgx. The Note. Flolder will then round the result
of this addition to the ne~'rest one-eighth of one percentage point (0,125%~, Subject to the
limits stated in Section 4(D) below, this rounded amount will be my ~ew interest rale until the
next Change Date.
The Note Holder will 'then determine tt]e amount of the month y payment that would be
sufficient to repay the Unl'.aid princil)al lhat I am expected to 'owe at the C'bange Dale in full
on the Maturity Date at my new interest rate in substantially equal payments. The result of
this calcu ation will be the new amount of my monthly payment. ID) Limils on Interest ';late Changes
The interest rate t am required to pay at the lirst Change Date will not be greater lhan
? ~)000 %-or less It~an 3,~000 %. Thereafter, my adjustable
interest rate will never be increased or decreased on any single Change Date by more than
two percentage points from the rate of interest I have been paying for the preceding 12
months. My interest rate will never be greater than 11. ~000 %.
(El Effective Date of Changes
My new interest rate will become effective on each Change Date. I wilt pay the amount
of my new monthly payment beginning un the first rnonthly payment date after the Change
Date until the amount ut my monthly payment changes again (F) Notice of Changes
The Note Holder will deliver or mail to me a not~ce of any changes in my initial fixed
Interest rate to an adjustable interest rate and of any changes in my adjustable interest rate
before the effectwe date of any change. The notice will include the amount of my monthly
payment, any information required by law to be given to me a~](! also the title and telephone
number o! a person who will answer any question I may have regarding the notice.
B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER
I. Until Borrower's ir:itial fixed nterest rate changes to an adjustable interest rate under
the terms stated in Section A above, Uniform Covenant 18 of the Securily Instrument shall
read as follows:
I...OPEHAI/. C FERN
.68473752
(~.168R (0401)
Page 2 of 4
Initials:
Form 3187 6/01
Transfer of the °roperty or a Beneficial Interest in Borrower, As used in this
Section 18, "Interest in the Property" means any legal or beneficial interest in the
Property, including, out not limited to, those beneficial interests transferred in a
bond [or deed, contr:~ct for deed, instalhnent sales contract or escrow a§reement,
the intent of which is the transfer of title by Borrower at a future date to a
purchaser,
If all or any par[ of the Property or any Interest in the Property is sold or
transferred (or if Borrower is not a natural person and a beneficial interest ~n
Borrower is sold or transferred) without Lender's prior written consent, Lender may
require immediate payment in full of all sums secured by this Security Instrument.
However, this option shall not be exercised by Lender if such exercise is prohibited
by Applicable Law.
If Lender exe[cises this m)tion, Lender shall give Borrower notice of
acceleration. The notice shal provide a period of not less than 30 (lays from the date
the notice is given m accordance with Section 15 within which Borrower must pay
all sums secured by this Security Instrument, tf Borrower fails to pay these sums
prior to the expiration of this period, Lender may revoke any remedms permitted by
this Security Instrum~,nt Without further notice or demand on Borrower.
2. When Borrower's initial fixed interest rate changes to an adjustable interest rate under
the terms stated in Sec~.ion A above, Uniform Covenant 18 of the Security Instrument
described in Section 31 above shall then cease to be in effect, and t ~e provisions ot Uniform
Covenant 18 of the Security Instrument shall be amended to read as follows:
Transfer of the ;~roperty or a Beneficial Interest in Borrower. As used in this
Section 18, "Interest ~n tile Property" means any leual or beneficial interest in the
Property, including, l)ut not limited to, those beneficial ~nterests transferred ~n a
bond for deed. contract for deed, installment sales contract or escrow agreement,
tile intent of which is the transfer of title by Borrower at 9 future (late to a
purchaser.
If all or any part of the Property or any Interest in [he Proper~y is sold ur
transferred (or if Borrower is not a natural person and a bgneficial interest m
Borrower is sold or transferred) without Len¢ler's prior written consent, Lender may
require immediate payment in full gl all sums secured by this Security Instrument.
However, this option shall not be exercised by Lender if such exercise is prohibited
by Applicable Law. Lbnder also shall riot exercise this option if: la) Borrower causes
to be submitted ~o Lender inlorrnation required by Lender to evaluate the intended
transferee as if a new loan were being made to the transferee; and lb) Lender
reasonably determines that Lender's security wdl not be im;)aired by the loan
assumption and that the risk of a breach of any covenant or agreement in this
Security Instrument is acceptable to Lender.
To the extent permitted by Applicable Law, Lender may charge a reasonable fee
as a condition to Lender's consent to the loan assumption. Len(ter also may require
the transferee to sign an assumption agreement that ~s acceptable to Lender and that
obligates the transferee to keep all the promises and agreements made m the Note
and in this Security Instrument Borrower will continue to be obligated under the
Note and this Security Instrument unless Lender releases Borrower in writing,
if Lender exercises the option to require immediate payment in full, Lender shall
give Borrower notice of acceleration, The notice shall provide e per~od of not tess
than 30 days from the date the notice ~s given m accordance with Section 15 within
LOPEHAN C-] ERM 58473752 0
Initials:
-168R (0401) Page 3 of 4 Form 3187 6/01
which Borrower must pay all sums secured by this Security Instrument. If Borrower
fails to pay these suq~s prior to the expiration of this period, Lender may invoke any
remedies perrnitted by this Security instrument without further notice or demand on
Borrower.
;IGNING BELOW, Borrower accepts and agrees to the terms and covenants contained
~ed/Adjustable Rate Rider ......... ('""" "~ ~~/~1'~)~ ..
(Seal)
-Borrt~wer
(Seal)
-Borrower
............... (Seat) ................................ (Seal)
Borrower -Borrower
(Seal) ............ (Seat)
'Borrow,Yet -Oorfower
I..0P EI,1A~I, C- t'ERH
-168R (O401)
58473752 0
Page 4 of 4 Form 3187 6/01