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HomeMy WebLinkAbout902102~P, cturn To: GM^C Moptgage ¢opporation RECE IV F_ f) _lfqC('! !"~ C()UNTY CLEP, I(. 200 Century Parkway, Mount Laurel. NJ 08054 Prepared By: 3enni fer Eddleman Requested by and Return lo: Re, cording Department First American Lenders Advantage 1801 Lakepointe Drive, Suite 111 Lewisville, TX 75057 (469) 322-2500 [Space Above Tiffs Lille For Recordi,ig I)ala] MORTGAGE M~N 100037506853984111 DEFINITIONS Words used in multiple sections of this document are defined below m}d other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain roles regarding die usage of words used in this docnment are also provided in Section 16. (A) "Security Instrmnent" means this document, which is th. cd 08/05/2004 together with all Riders to this document. (Is) "Isorrower"is Patrick Rodenbau§h and 6wendo]yn F. Rodenbau§h. Husband And Wife As Tenants By THe Entirety Borrower is the mortgagor under ti'tis Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nmninee tbr Lender and Lender's successors and assigns. MERS is the mortgagee nnder this Security lnstrnment. MERS is organized and existing tnldel' the laws of Delaware, and has an · address m~d telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 6?9-MERS. 000685398411 WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMEN-r WITH MERS VMP MORTGAGE FORMS - (800)521 7291 Form 3051 1/01 ODOZZOm, O.,IG (D) "Lender" is GMAC Mortgage Corporation Lender is a Residenti al Mortgage Lender organized and existiug under tile laws of Commonweal eh of Pennsyl vani a · Lender's address is 200 Century Parkway. Mount Laurel, NJ 08054 (E) "Note" means the promissory note signed by Borrower and dated 08/05/2004 The Note states that Borrower owes Lender Seventy One Thousand Two Hundred Dollars (U.S. $ 71,200.00 ) plt, s interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than September 1:2019 (F) "Property" means the property that is described below under the beading "Transfer of Rights m the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, a,ly prepayment charges aud late charges due under the Note, and all sums due under this Security Instrumeut, phis interest. (1I) "Riders" meaus all Riders to this Security Instrument that arc executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: ~ Adjustable Rate Rider ~ Condominium Rider [-"~ Second Home Rider [--] Balloon Rider [~ Planned Unit Development Rider ~] 1-4 Family Rider [~ VA Rider [---'] Biweekly Payment Rider [~ Oliver(s) [specifyl (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and adnfinistrative rules and orders (that have the effect ol' law) as well as all applicable final, non-appealable judicial opinions. (J) "Comnmnity Association Dues, Fees, and Assessments" meaus all dues, fees, assessments anti other charges that are imposed on Borrower or tile Property by a coudominium associgtiou' homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction origiuated by check, draft, or similar paper instrument, which is initiated through an electronic teFmiual, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-oF-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire ti-ansi'ers, and automated clearinghouse tr,'msfers. (L) "Escrow Items" means those items that are described in Sectiou 3. (IVl) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) tbr: ti) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condenmation; or (iv) misrepresentations of, or omissions as to, the value and/or coudition of the Property. tN) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (O) "Periodic Payment" means the regularly scheduled amount d,e lbr ti) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrume,t. (P) "RESPA" memos the Real Estate Settlement Procedm'es Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as fl~ey might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. 000685398411 (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security lnstrnment secures to Lender: (i) the repayment of the I.oan, and all ,'enewals, extensions and modifications of the Note; and (ii) the performm~ce of Borrower's covenants and agreements under this Security Instrument and the Note. For this pnrpose, Borrower docs hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the f~,llowing described property locaied in the County of Li ncol n : [Type of Recording Jurisdiction] [Name of Recording hlrisdictiorll The Assessor's Parcel Number (Property Tax ID#) for the Real Property Js 12-2117-15-4-00-042.00. See Attached Legal Descr~ptqon ~4( ,~ ,} ¥~ ParcellD Number: 12-2117-15-4-00-042-00 851 County Road 342 Kemmerer ("Property Address"): which currently bas the address of [Street] [Cityl , Wyoming 83101 [Zip Codel TOGETHER WITH all the improvements now or hcrealicr erected on the property, and all easements, appurtenances, and fixtures now or hereafter a pa,-~ ol the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred io in this Security Instrument as the "Property." Borrower understands and agrees that MERS hohls only legal title to the interests granted by Borrower in this Security Instrument, but, il' necessary to comply with law or custom, MERS (as normnee for Lender and Lender's snccessors and assigns) has the right: to exercise any or all of those interests, including, but not liirLited to, the right to lbrcclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform cOVCllaUtS for national use and non-uniform covenants with limited variations by jurisdiction to constitute a unilbrm security instrument covering real property. 000685398411 (~, UNIFORM COVENANTS. Borrower and Lender covenant and agree as fl)llows: 1. Payment of ISincipal, Interest, Escrow Items, P,'epaymeut Charges, anti Lute Charges. Borrower shall pay when due the principal of, and interest on, ibc debt evideuced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay fl~nds fl)r Escrow hems pursuant to Section 3. Payments due uuder tile Note and this Sct:urity Instrument shall be made in U.S. currency. However, if any ,check or other instrument received by [.c~ndcr as payment under tile Note or this Security Instrumeut is returned to Lender unpaid, Lender may rCCluire that any or all subsequent payments due under the Note and dfis Security Instrument be made in one or more of the lbllowing forms, as selected by Lender: (a) cash: (b) money order; (c) certified check, bank check, treasnrer's check or cashier's check, provided any such check is drawn upon an ins~itulion whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may retm'n any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refl~se such payment or partial payments in the future, but Lender is not obligated to apply such paymel~tS at tile time such paymeuts are accepted. If each Periodic Payment is applied as of its scheduled title date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied Brads un Itl Borrower makes payment to bring the Loan current. If Borrower does uot do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, st,ch t'tmds will be applied to the outstanding principal balance under the Note ilmnediately prior to foreclosure. No offset or claim which Borrower might have uow or in the future against Lender shall relieve Bt~rmwcr fi'om making payments due under the Note m~cl this Security Instrument or performing the covenanls and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in llle lbllowing order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amou,ns due under Section 3. Stlch paymeuts shall be applied to each Periodic Payment in the order in which it became due. Any remaiumg amouuts shall be applied first to late charges, second to any other amounts duc t, nder this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a deliuqucnt Periodic Payment which i,~cludes a sufficient mnount to pay any late charge due, the payment may bc applied to the delinquent payment and tile late charge. If more than one Periodic Payment is outstanding, l.cndcr may apply any payment received from Borrower to the repayment of the Periodic Payments if, and ~o tile extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to ally prepayment charges and then as described in d~c Note. Any application of payments, insurance proceeds, or Misccthmcous Proceeds to principal due nnder the Note shall not extend or postpone the due date, or change lhe amotnu, of the Periodic Paymeuts. 3. Funds for Escrow Items. Borrower shall pay to Lender on tile clay Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") lo provide for paymeut of amonnls due for: (a) taxes and assessments and other items which can attaiu priority over this Security lnstruulent as a lien or encmnbrance on the Property; (b) leasehold payments or ground reuts on tile Property, if any; (c) prelniums lbr any and all iusurance required by Lender under Section 5; and (d) Moltgage Insurance premiums, if m~y, or any sums payable by Borrower to Lender ill lieu of the payment of Mortgage Insurance preminms in accordance with the provisions of Sectitm 10. These items are called "Escrow Items." At origination or at any time during the term of the l.oan, l.euder may require that Commtmity Association Dues, Fees, and Assessmeuts, if any, be escrowed hy Borrower, and such dues, tees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amot,nts to be paid under this Section. Borrower shall pay Lender the Funds Ibr Escrow Items unless Lender waives Borrower's obligation to pay the Funds tbr any or all Escrow hems. Lender may waive Borrower's obligation to pay to Lender Funds fur any or all Escrow Items at any time. Any such waiver may only be in writing. Ill the event of such waiver, Borrower shall pay direcdy, when and where payable, the amounts 000685398411 due for any Escrow Items for which payment of Funds has been xv~fivcd by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such tilne period as Lender may require. Borrower's obligation to make such payments and to provide rc'ccipts shall for alt purposes be deetned to be a covenant and agreement contained iu this Security lnstrumcut, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated nndcr Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to ally or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amonnl (a) sufficient to permit Lender [o apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum a,nount a lender can require nnder RESPA. Lender shall estimate the amount of Funds due oil the basis o1' current data and reasonable estimates of expenditures of future Escrow Items or ntherwise in accordance with Applicable Law. The Funds shall be held in an institution whose dq)osits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in mty Federal Home Loan Bank. Lender shall apply the Funds to pay tile Escrow Items no laler than lite time specified tinder RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, tmlcss Lender pays Borrower interest on the Funds and Applicable Law pemfits Lender to make such a charge. Unless an agreement is made in writiug or Applicable Law requires interest to be paid on the Funds, l..cndcr shall not be required to [)ay Borrower any interest or earnings on the Funds. Borrower and Lender can agree ill writing, however, that inlerest shall be paid on the Funds. Lender shall give to Borrower, without charge, an mmua[ accotutting ol' the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall acconnt to Borrower for the excess funds in accordance with RESPA. It' there: is a shortage of Funds hehl in escrow, as defined nnder RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordanc:c with P, ESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as det'ined under RESPA, Lender shall notify 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 more than 12 monthly payments. Upon payment in full of all sums secured by this Security h~strumeut, Lender shall promptly rel:und to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Sc,:ttrity lustrument, leasehold payments or ground'rents on the Property, if any, and Co~rannnity Associatiou Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Inslrument urlless Borrower: (a) agrees in writing to the payment of the obligation seem'ed by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreentcnt; (b) contests the lien irt good faith by, or defends against enlbrcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to l.ender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the 000685398411 0 ::? 0 lien. Within 10 days of the date on which that nolice is given, Bc)nmvcr shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time.charge for a real estate tax verification and/or reporting service used by Lender iu connection with this Loan. 5. Property Insurance. Borrower shall keep the improvcmcms now existing or hereafter erected on the Property iusured against loss by fire, hazards included within thc term "extended coverage," ,'md any other hazards including, but not limited to, earthquakes and floods, for which Lender requires iusurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the precediug sentences can change duriug the term of the Loan. The insurance carrier providing the insurance shall bc chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not bc exercised unreasonably. Lender may require Borrower to pay, in commction with this Loan, either: (a) a one-time charge tk/r flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible fi}r the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone deternfination resulting from an objectitm by Borrower. If Borrower fails to maintain any of the coverages described ahovc, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or thc co,trelliS of the Property, against any risk, hazard or liability aud might provide greater or lesser coverage dian was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any aniounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall nmne Lender as ~nortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give m Lt:nder all receipts of paid premiums and renewal notices. If Borrower obtains any form 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 shall nanle Lender as mortgagee mid/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to thc insurance carrier mid Lender. l.ender may make proof of loss if not made promptly by Borrower. Uulcss Louder and Borrower otherwise agree in writing, any insurm~ce proceeds, whether or not the underlyiug insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have thc right to hold such insurance proceeds until Lender has had an opportunity to inspect ~uch Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. 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. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's sccmity woukl be lessened, ll~e iusurance proceeds shall be applied to the sums secured by this Security h~strument, whether or not then due, with 000685398411 ~ O:DOZ:L04 the excess, if any, paid to Borrower. Such insurance proceeds slntlt bt: applied in the order provided ft)r iu Section 2. If Borrower abandons the Property, Lender may fi!e, negotiate and seltle any available insurance claim and related matters. If Borrower does not respond within 30 clays to a notice from Lender that the insnrance carrier has offered to settle a claim, then Lender may negt~tiatt: and settle the claim. The 30 day period will begin when the notice is given. In either event, or il' [.ender acquires the Prol)erty nnder Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security lnstrtunent, and (b) any other of Borrower's rights (other than the right to any rcl:und of unearned premiums paid by Borrower) nnder all insurance policies covering the Property, insofi~r as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds ~ithcr to repair or restore the Property or to pay anaounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, mad use thc Property as Borrower's principal residence within 60 days after the execution of this Security hast~'Ulnent and shall continue to occnpy the Property as Borrower's principal residence for at least one year al'let the date of occupancy, nnless Lender otherwise agrees in writing, which consent shall not be unreasouably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or comnfit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is n~)t economically l~asible, Borrower shall promptly repair the Property if damaged to avoid fimher deterioration or damage. It' insurance or condemnation proceeds are paid in connection with damage to, or thc taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only il' Lender bas released proceeds lbr such puq)oses. Lender inay disburse proceeds ibr the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries npon and inspections of the Property. If it has reasonable canse, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in dcl'ault if, dnring the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Bon-ower's knowledge or consent gave materially false, misleading, or inaccurate intbrrnation or statements to Lender (or failed to provide Lendei' with material information) iii ccmuection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this security Instrument. If (a) Borrower fails to perform the covenants and agreements coutaint~tl in this Security lnstrmnent, (b) there is a legal proceeding that might significantly affect Lender's interest iu the Property and/or righls under this Security lnstru~nent (such as a proceeding in bankruptcy, pre, bate, l~or condemnation or fi'~rl'eiture, for enforcement of a lien which may attain priority over this Security lnstrunient or to enft~rce laws or regulations), or (c) Borrower has abandoned the Property, then l..ender may do ,'nad pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of thc Property, and secnring 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 Instrument; (b) appearing in conrt; and (c) paying reasonable 000685398411 attorneys' lees to protect its interest in the Property and/or rights ooder this Security lnstrunaent, inch}ding its secured position in a bankruptcy proceeding. Securing thc Pl'opcrty includes, but is not limited to, entering the Property to make repairs, charge locks, replace or board tip doors and windows, dram water from pipes, eliminate building or other code violations br dangerous conditions,, and have utilities turned on or off. Ahhough Lender may take action under this Section 9, I.cnder does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incm's no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt o~' Borrower secured by this Secmity Instrument. These mnounts shall bear intcrt:st at the Note rate t¥om the date or' disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge uuless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Iusurance as a coudition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage [usurance in effect. If', for any reason, the Mortgage Insurance coverage required by Lender ceases to hc available from the mortgage insurer that previously provided such insurance and Borrower was required Io make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an ahemate mortgage insurer selected by Lender. If substantially equivalcm Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the an~ount of the separately designated payments that were due when the insurance coverage ceased to be in effect, l.cndcr will accept, nsc and retain these payments as a non-refundable loss reserve in lieu of Mortgage h~sorance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid iu full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount aud for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward tbe premiums for Mortgage Insurance. It' Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a noa l'Cq:undable loss reserve, unlil Lender's requirement tbr Mortgage Insurance ends in accordance with any wrineu agreement between Borrower and Lender providing tbr such termination or nntil termiuation is required by Applicable Law. Nothing ill this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurm~ce reimburses Lender (or any entity that pm'chases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or xnodify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (ox' parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amouuts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange tbr sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides ti-tat an affiliate of Lender takes a share of the insmcr's risk in exchange ibc a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts thnl Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amonnt Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to auy refund. 000685398411 Q~, (b) Any such agreements will not affect tile rights Borrower has - if any - with respect to the Mortgage Insurance under tile Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to rcqt,est and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance ierminatcd automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unenracd at the time of such cancellatiou or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All lVliscellaneons Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible m~d l.ender's security is not lessened. During such repair and restoration period, Lender shall have the right tn hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken prompdy. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to he paid on such Miscellaneous Proceeds, Lender shall not be required to pay Bt~rrowcr 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 Miscellaneous Proceeds shall be applied to the stuns secured by this Security lnstrninent, whether or not then due, with the excess, if any, paid to Borrowc,-. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security lnstrtuneut, whether or not lhen due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property inu:nediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security h~strument immediately belbre the partial taking, destrnction, or loss in value, unless Borrower mid Lender otherwise agree in writing, the sttnls secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately be/bce the partial taking, destruction, or loss in value divided by (b) the fitir market value of the Property irmnediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of thc Property in which the fair market value of the Property innnediately before the partial taking, destruction, or loss in value is less than the amount of the stuns secured immediately before the partial taking, destruction, or loss in value, anless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a clai~n for damages, Borrower fails to respond to Lender within 30 days alter the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or tl~e party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall 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 lnaterial impairment of Lender's interest in the Property or rights under this Security Instrmnent. Borrower can cure such a defanh anti, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forl'cittu'c of the Property or other material impairment of Lender's interest in the Property or rights under tl~is Security lnstrulnent. The proceeds of any award or claim for dmnages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoratiou or repair of the Property shall be applied in the order provided for in Section 2. 000685398411 6A(WY) 1ooo51 o~ Pa§e 9 ot: 15 ~ Form 3051 1/O1 0 023L04 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by Ibis Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or ,'my Successors in Interest of Borrower. Lender shall'not be rctluircd to colnmence proceedings against any Successor in Interest of Borrower or to refuse to exteud tinle for payment or otherwise modify amortization of the sums secured by this Security Instrument by rcasou of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbcarauce by Lender in exercising auy right or remedy including, without limitation, Lender's acceptance o1' payments from third persons, ~utities or Successors in Interest of Borrower or in amounts less than the amount titan due, shall not be a waiver of or preclude the exercise of any right or remedy, 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants aud agrees that Borrower's obligations and liability shall be joint ami several, tlowever, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrmnent only to mortgage, grant and convey the co-signer's interest in the Property tinder the terms of this Security Instrument; (b) is not personally obligated t¢~ pay the sums secured by this Sectnity Instrument; mid (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Scctn'ity Instrument or the Nole witboat the co-signer's consent. Subject to the provisions of Section 18, any Successor in luterest of Borrower who asstuncs Borrower's obligations under this Security Instrument in writing, and is approved by Leuder, shall ob[am all of Borrower's rights and benefits ander this Security Instrument. Borrower shall not be released fi'om Borrower's obligations and liability under this Security Instrumeut Imf:ss Lender agrees to such release iu writing. The covenauts and agreements of this Security hlstrumcnt shall bind (except as provided itl Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees fi)r services performed in connection with Borrower's default, for the purpose of protecting Lender's intel-cst iu the Property and rights under this Security Instrument, including, but not limited to, attorneys' t'ces, property inspection and wduation lees. In regard to any other fees, the absence of express authority in this Security Iustrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted Ii,nits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted linfit; and (b) any sums already collected film! Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to m:~kc this refund by reducing the principal owed under the Note or by making a direct payment to Borrt)wcr. If a refi~nd reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such retired made by direct payment to Borrower will constitute a waiver of any right t~t' action Borrower inigbt have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in cmutection with this Security Instrument must be in writing. Any notice to Borrower in connection with tiffs Security lnsti'ument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by nC)lice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender spccilics a procedure lbr reporting Borrower's change of address, then Borrower shall only report a change ol' ;~ddrcss through that specified procedure. There may be only one designated notice address under this Scctuity Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrnment sh~l not be deemed itt haw: been given to Lender until actually received by Lender. If any notice required by this Security lnstrtnncnt is also required nnder Applicable Law, the Applicable Law requirement will satisfy the corresptmding requirement under this Security Instrument. 000685398411 ' ~, 0902:[04 16. Governing Law; Severability; Rules of ConstructimL This Security Instnunent shall be governed by federal law mad the law of tile jurisdiction in which Ihe Property is located. All rights and obligations contained in this Security Instrument are subject to auy requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties [o agree by contract or it might be silent, but such silence shall not be construed as a prohibition against' agreement by contract. In the event that any provision or clause of this Security Insmtmcut or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Securit) Instrument or the Note which can be given effect withom the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mcan and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any actiou. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Ihn'rower. As used in ti'ds Section 18, "Interest in the Property" means any legal or beneficial interes~ m the Property, including, but not limited to, those beneficial interests transferred in a bond tbr deed, contract tbr deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a fim~re date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without l.ender's prior written consent, Lender may require i~nmediate payinent in full of all stuns secured by this Security Instrmnent. However, this option shall not be exercised by l.ender it' such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days l¥om the date the notice is given in accordance with Section 15 within which Borrower must pay all sulns secured by this Security lnstrumcut. If Borrower fails to pay these sums prior to the expiration of this period, Lender may iuvokc any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. It' Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontiuued at any time prior to the earliest of: (a) five days before sale of the Property l)Ursuant tO any power of sale contained iu this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instmn~ent. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument mid the Note as if no acceleration had occurred; (b) cures auy default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred flu- the purpose of protecting Lender's interest in the Property and rights trader this Security Instrument; aud (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following tbrms, as selected by l.entlcr: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, insmm~entality or entity; or (d) Electrouic Funds Transfer. Upon reinstatement by Borrower, this Security lustmment and obligations secured hereby shall remain fully effective as if no acceleration had occurred, lloxvcver, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note .or a partial interest in the Note (together with this Security Instrument) can be sold ouc or more times without prior uotice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrtm~ent and performs other mortgage loan servicing obligations under the Note, this Security Instrument, aud Applicable Law. There also nfight be one or more changes of the Loan Servicer unrelated to a sale of tlac Note. If there is a change of the Servicer, Borrower will be given written notice of the change which will state the name aud address of tile new Loan Servicer, the address to which payments should be made and any other intbrmation RITSPA 000685398411 0 ;, 2 6 requires in connection with a notice of transfer of servicing. If thc Note is sold and thereafter the I.oau is 'serviced by a Loan Servicer other than the pu,-chaser of the Nc.c, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by thc Nole purchaser. Neither Borrower nor Lender may commence, join. or be .joined to any judicial action (as either an individual litigant or the member of a class) that arises from thc other party's actions pursnant to riffs Security Instrmnent or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of snch notice to take corrective action. If Applicable Law provides a time period which must elapse befo,'c certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy thc notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "ttazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following suhstances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials;. (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Enviromncntal Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or pernfit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or iu the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous snbstances in consumer products). Borrower shall promptly give Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Envirorm~ental Condition, inclnding but not limited to, any spilling, leaking, discharge, release or tl~reat of release of any Hazardous Substance, and (c) any condition caused by the presence, nsc or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remcdiation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Enviro~m~ental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. 000685398411 ~-6A(WY) looos~.m 0 02:1.04 NON-UNIFORM COVENANTS. Borrower and Leude,-fullhcr covemnll and' agree as l:ollows: 22. Acceleration; Remedies. Lender shall give notice to Ih~rrowcr prior lo acceleration following Borrower's breach of any covenant or agreement in this %ccm'ity lnstqmnent (lint uol prior to acceleration trader Section 18 tmless Applicable Law provitlcs .thcrwisc). The notice slmll specify: (a) the default; (b) the action required to cure the default; (c) a date, m~t less dmu 30 days from the date the notice is given to Borrower, by which the default must bc cra'cd; and (d) that faihn-e to cm'e the defatdt on or hefore the date specified in the notice may result in accelcratiou of the sums seem'ell by this Secmity Instrument and sale of the Property. The uolicc Mmll fro'thor inform Borrower of ~l~e right to reinstate after acceleration aud the right to bring a comq aclion ~o assert the nou-existence of a default or any other defense of Borrower to acceleration and sale. i1' the default is nol cra-ed on or before the date specified in the notice, Lender at its option ~nty require immediate paymenl iu ftdl of all sums secured by this Security Instrument without fmqhcr dcnmml and may invoke the power of sale fred any other remedies permitted hy Applicable Law. I,cudcr shall be entidcd lo collect all expenses inctu'red in ptn'suing the remedies provided iu this ~t:ctioll 22, including, hut m~t limiletl reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give indite of iutent to foreclose to Borrower and to the person in possession of the lh'operty, il' dil'[crenl, itt accordance with Applicable i~aw. Lender shall give notice of the sale to Borrower in the rammer provided in Section 15. Lemler shall pnblish the notice of sale, and the Property shall be sold in thc maturer prescribed by Applicable Law. Lender or its designee may purchase the Property at any s;dc. The proceeds of lhe sale shall he applied in the following order: (a) to all expenses of thc sale, includiag, bu! not limiled to, reasonable attorneys' fees; (b) to all sums secured by this Sccurity lnstrmnent; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security h~strtnnent, Lender shall rdease lifts Secnrity Instrument. Borrower shall pay any recordation costs, l~cnder may charge Borrower a tee tbr releasing this Security Instrument, but only if the tee is paid to a third l)arty for services rendered nmi charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyonfing. 000685398411 (~-6AIWY) Iooos~ Pa~ja ~3 ol ~5 Fom~ 3051 llO1 0902:L04 BY SIGNING BELOW, Borrower accepts and agrees to tl~c terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and Ft. corded with it. Witnesses: Gwendolyn F~ Rodenbaugh C~-nor,'owe~ (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower 000685398411 (~(~6AIWY) Iooos~.m Page 14of 15 Form 3051 1/01 Notary/~/9 blic / 000685398411 (~-6A(WY) Ioo0.~t.01 FoJ'm No 3301 (6/00) Short Form Commmnem, EAGLE SUPER EAGLE ORDI![~, NO: 2445551 FII_ENO: 2445551 LliNI)I:~R I),EF: 000685398411/RODENBAUGIt Exhibit "A" The land referred to in this policy is situated in the STATE OF WYOgllNG, COUNTY OF LINCOLN, CITY OF KEMMERER, and described as follows: THE SE l/4 gE ]/4 OF SECTION 15, T2 IN,R 117W OF TIlE 6TI I P.M., L IN(/OLN CO UNTY, WYOMING.