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WELLS FARGO HOME MORTGAGE
3601 MINNESOTA DR. SUITE 200
BLOOMINGTON, MAI 55435
Prepared By:
COMMUNITY FIRST MORTGAGE, LLC
RECEIVED
LINCOLn',,! COU~",_.'-Fy CLERK
808 3RD AVE SOUTH,, FARGO, ND
581030000
[Space Above Tiffs Lh~e For Rec.rdi.g Data]
MORTGAGE
DEFINITIONS
Words used in multiple sections of this document are defi,~xl hch)w and other words are defined in
Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding thc usm._.,c of words used in this document are
also provided in Section 16..
(A) "Security Instrument" means this document, which is dated OCTOBER 2 6.
together with all Riders to this document.
(B) "Borrower" is TAMMY L. SMITH, A SINGLE PERSON
2004
Borrower is the mortgagor under this Security Instrument.
(C) "Lender" is COMMUNITY FIRST MORTGAGE, LLC
Lender is a LIMITED LIABILITY COMPANY
organized and existing under the laws of THE STATE OF DELAWARE
0046097507
WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
~®-6(WY)
VMP MORTGAGE FORMS - (800}521-7291
Form 3051 1/01
Lender's address is P.O. BOX 10304, DES MOINI~S, IA 503060304
Lender is the mortgagee under this Security Instrument.
(D) "Note" means the promissory note signed by Bor~0wer ami datcctOCWOBER 26, 2004
The Note states that Borrower owes Lender $~..VIilNTY ONE THOUSAND TWO HIJNDR~.D I*IFTY ~
00 / 100 Dollars
(U.S. $ ****'71,250.00 ) plus interest. Borrower ha~ Ntmtised to pay this debt in regular Periodic
Payments and to pay the debt in full not later than }~OVgMBE~ 0t, 2034
(E) "Property" means the property that is described below u~t,cr the heading "Transfer of Rights in the
Property."
(F) "Loan" means the debt evidenced by the Note, plus intctcs, any prepayment charges and late charges
due under the Note, and all sums due under this Security lnsm,~c,t, plus iuterest.
(G) "Riders" means all Riders to this Security Instrument that arc executed by Borrower. The following
Riders are to be executed by Borrower [check box as applicablc l
[--] Adjustable Rate Rider ~ Condominium Rider [~ Second Home Rider
~ Balloon Rider ~ Planned Unit Development Ride, [~ 1-4 Family Rider
~] VA Rider ~] Biweekly Payment Rider ~-~ Other(s) [specifyl
0t) "Applicable Law" means all controlling applicable lcdclal, state and local statutes, regulations,
ordinances and administrative rules and orders (that have rte ct ~cct of law) as well as all applicable final,
non-appealable judicial opinions.
(I) "Community Association Dues, Fees, and Assessments" mc:nts all dues, fees, assessments and other
charges that are imposed on Borrower or the Property t)y a ctmdotninium association, homeowners
association or similar organization.
(J) "Electronic Funds Transfer" means any transfer of Itmds. other titan a transaction originated by
check, draft, or similar paper instrument, wtfich is initiated throut/h all electronic terminal, telephonic
instrument, computer, or magnetic tape so as to order, instruct. ,~1- authorize a financial institution to debit
or credit an account. Such term includes, but is not limited t,,, point-of-sale transfers, automated teller
machine transactions, transfers initiated by telephone, x~i~c tlansfers, and automated clearinghouse
transfers.
(K) "Escrow Items" means those items that are described in Scctitm 3.
(L) "Miscellaneous Proceeds" means any compensation, seul~'~c~t, award of datnages, or proceeds paid
by any third party (other than insurance proceeds paid under tl~c coverages described in Section 5) for: (i)
damage to, or destruction of, the Property; (ii) condenumti~m m' miter taking of all or any part of the
Property; (iii) conveyance in lieu of condemnation; or (iv) ,fisrcprcsel~tations of, or omissions as to, the
value and/or condition of the Property.
(M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on,
the Loan.
(N) "Periodic Payment" means the regularly scheduled amotmt duc for (i) principal and interest under the
Note, plus (ii) any amounts under Section 3 of this Security l t~\llmnent.
(O) "RESPA" means the Real Estate Settlement Procedures :\c~ ~ 12 U .S.C. Section 2601 et seq.) and its
implementing regulation, Regulation X (24 C.F.R. Part 35t)t1~. :ns they 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 requiremcnt~ and restrictions that are imposed in regard
to a "federally related mortgage loan" even if the Loan doc>, ~,~t qualify as a "federally related mortgage
loan" under RESPA.
(~-6(WY) tooo?,} ~'a~. 2 of ~s Form 3051 1/01
(P) "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 N~,~c ami/or this Security Instrument.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender: (i) the repaymem ~,l thc Loan, and all renewals, extensions and
modifications of the Note; and (ii) the performance of Borr~x~cr's covenants and agreements under this
Security Instrument and the Note. For this purpose, Borroxsct d~}cs hereby mortgage, grant and convey to
Lender and Lender's successors and assigns, with power of s:,lc, the /bllowing described property located
in the COUNTY of LINCOLN :
]Type of Recording Jurisdiction] J"(a,nc of Recording Jurisdiction]
LOT 7 OF BLOCK 45 OF SECOND ADDITION TO THE TOWN OF KEMMERER, LINCOLN
COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF
THIS IS A PURCHASE MONEY SECURITY INSTRUMENT.
TAX STATEMENTS SHOULD BE SENT TO: WELLS FARGO HOME MORTGAGE, P.O.
10304, DES MOINES, IA 503060304
BOX
ParcellD Number: 12 2116 23
1025 BEECH AVENUE
KEMMERER
("Property Address"):
1 02 025
which currently Ires the address of
[Street]
I~ iLsl , Wyonfing 83101 [Zip Code]
TOGETHER WITH all the improvements now or hclcal'tcr erected on the property, and all
easements, appurtenances, and fixtures now or hereafter a l,:,t of the property. All replacements and
additions shall also be covered by this Security h~strument. ,\Il oI' the foregoing is referred to in this
Security Instrument as the "Property."
BORROWER COVENANTS that Borrower is lawfully sol,cci {)f the estate hereby conveyed and has
the right to mortgage, grant and convey the Property and that thc Property is unencumbered, except for
encumbrances of record. Borrower warrants and will defend ~c~cl:tlly the title to the Property against all
claims and demands, subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform ~,~xc~:mts lbr national use and non-uniform
covenants with limited variations by jurisdiction to constitute .,~ tmifi)rm security instrument covering real
property.
UNIFORM COVENANTS. Borrower and Lender covenam and agree as follows:
1. Payment of Principal, Interest, Escrow Items, PrCl}ayment Charges, and Late Charges.
Borrower shall pay when due the principal of, and interest ~,~. tl~c debt evidenced by the Note and any
prepayment charges and late charges due under the Note. B,, r,,wcr shall also pay funds for Escrow Items
pursuant to Section 3. Payments due under the Note and fl~is ~ccurity Instrument shall be nmde in U.S.
currency. However, if any check or other instrument received l)v Lender as payment under the Note or this
Initial~:~
I~-6(WY) (ooosl P.o~ ~ o~ ~s Form 3051 1/01
Security Instrument is returned to Lender unpaid. Lender m:,) JCquirc that any or all subsequent payments
due under the Note and this Security Instrument be made i~t .l~c ()r more of the following forms, as
selected by Lender: (a) cash; (b) money order; (c). certified check, bank check, treasurer's check or
cashier's check, provided any such check is drawn Upon a. i~stittltiox~ whose deposits are insured by a
federal agency, instrumentality, or entity; or (d) Electro]tic Ft:.ds Tr:u~sfer.
Payments are deemed received by Lender when received :u thc location designated in the Note or at
such other location as may be designated by Lender in accord:, t,;c with the notice provisions in Section 15.
Lender may return any payment or partial payment if the p:t3 ~}c.t {.' 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 .} its rights to refuse such payment or partial
payments in the future, but Lender is not obligated to apply s.~h payments at the time such payments are
accepted. If each Periodic Payment is applied as of its schcd.lcd clue date, then Lender need not pay
interest on unapplied funds. Lender may hold such unapplied ~.~.ls tJ mil Borrower makes payment to bring
the Loan current. If Borrower does not do so within a reasonabl~, periled of time, Lender shall either apply
such funds or return them to Borrower. If not applied earlier. ~.ch funds will be applied to the outstanding
principal balance under the Note immediately prior to forc~l, }scut. No offset or claim which Borrower
might have now or in the future against Lender shall relieve il,.Tower from making payments due under
the Note and this Security Instrument or performing the covct,...s ;.cd agreements secured by this Security
Instrument.
2. Application of Payments or Proceeds. Except a~ ~,~hcrwise described in tiffs Section 2, all
payments accepted and applied by Lender shall be applied i~ tl~- fi~lh~wing order of priority: (a) interest
due under the Note; (b) principal due under the Note; (c) a~,~,..ts due under Section 3. Such payments
shall be applied to each Periodic Payment in the order in xvhicll it became due. Any remaining amounts
shall be applied first to late charges, second to any other am,,t~llts duc under tiffs Security Instrument, and
then to reduce the principal balance of the Note.
If Lender receives a payment from Borrower for a dcli~.l.c.t Periodic Payment which includes a
sufficient amount to pay any late charge due, the payment m:~ bc applied to the delinquent payment and
the late charge. If more than one Periodic Payment is outstandi~, l.c~der may apply any payment received
from Borrower to the repayment of the Periodic Payments i~~, :.~d t~ the extent that. each payment can be
paid in full. To the extent that any excess exists after the pay~.c~, 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 any prepayment charges and then as describ~d i. the Note.
Any application of payments, insurance proceeds, or lX lisccllalleous Proceeds to principal due under
the Note shall not extend or postpone the due date, or change thc a..~unt, of the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lc~dcr ~.~ file day Periodic Payments are due
under the Note. until the Note is paid in full, a sum (the "Ft..Is") to provide for payment of amounts due
for: (a) taxes and assessments and other items which can attai, prit.'ity over this Security Instrument as a
lien or encumbrance on the Property; (b) leasehold payment~ t. g]'t~und rents on the Property, if any; (c)
premiums for any and all insurance required by Lender u.&~r ~cction 5; and (d) Mortgage Insurance
premiums, if any, or any sums payable by Borrower to [.cllt. lcr ill lieu of the payment of Mortgage
Insurance premiums in accordance with the provisions of .%ctit.~ 10, These items are called "Escrow
Items." At origination or at any time during the term of thc l~,a., Lender may require that Community
Association Dues, Fees, and Assessments, if any, be escr. x~cd t)y Borrower, and such dues, fees and
assessments shall be an Escrow Item. Borrower shall promptly ft.'~fish to Lender all notices of amounts to
be paid under this Section. Borrower shall pay Lender the F..ds for Escrow Items unless Lender waives
Borrower's obligation to pay the Funds for any or all Es~'r.w hems. Lender ~nay waive Borrower's
obligation to pay to Lender Funds for any or all Escrow Ite.~s at ;.~y time. Any such waiver may only be
in writing. In the event of such waiver, Borrower shall pay di~c~:ll3, when and where payable, the amounts
(~-6(WY) (ooo5) Page 4 of ~s Form 3051 1/01
due for any Escrow Items for which payment of Funds has beck. waived by Lender and, if Lender requires,
shall furnish to Lender receipts evidencing such payment within such tinle period as Lender may require.
Borrower's obligation to make such payments and to provide ~cccipts shall for all purposes be deemed to
be a covenam and agreement contained in this Security Instru.~c~. as the phrase "covenant and agreement"
is used in Section 9. If Borrower is obligated to pay Escr./~ terns directly, pursuant to a waiver, and
Borrower fails to pay the amount due for an Escrow Item, kt:.clcr may exercise its rights under Section 9
and pay such amount and Borrower shall then be obligated mMcr Section 9 to repay to Lender any such
amount. Lender may revoke the waiver as to any or all Esc~,~xx hems at any time by a notice given in
accordance with Section 15 and, upon such revocation. B(.~,~x~c~ 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 am, mm (a) sufficient to permit Lender to apply
the Funds at the time specified under RESPA, and (b) not t,~ exceed the maximum amount a lender can
require under RESPA. Lender shall estimate the amount of I'umts due on the basis of current data and
reasonable estimates of expenditures of future Escrow Items ,.' .therwise in accordance with Applicable
Law.
The Funds shall be held in an institution whose dcp,:.its are insured by a federal agency,
instrumentality, or entity (including Lender, if Lender is an i~lit m it}u whose deposits are so insured) or in
any Federal Home Loan Bank. Lender shall apply the Funds t,~ P:b' the Escrow Items no later than the time
specified under RESPA. Lender shall not charge Borrower f.t h~dcling and applying the Funds, a~mually
analyzing the escrow account, or verifying the Escrow Items. uMc'ss Lender pays Borrower interest on the
Funds and Applicable Law permits Lender to make such a ch:ui!c. Unless an agreement is made in writing
or Applicable Law requires interest to be paid on the Funds, I.cmtcr shall not be required to pay Borrower
any interest or earnings on the Funds. Borrower and Lender c:m agree in writing, however, that interest
shall be paid on the Funds. Lender shall give to Borrower, /t itMmt charge, an annual accounting of the
Funds as required by RESPA.
If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
Borrower for the excess funds in accordance with RESPA. 11' ~hc~c- is a shortage of Funds held in escrow,
as defined under RESPA, Lender shall notify Borrower as rcq.ircd by RESPA, and Borrower shall pay to
Lender the amount necessary to make up the shortage in acc~.d:mcc with RESPA, but in no more than 12
monthly payments. If there is a deficiency of Funds held in c~c~, ~w, as defined under RESPA, Lender shall
notify Borrower as required by RESPA, and Borrower shall P:~3 t{E Lender the a~nount necessary to make
up the deficiency in accordance with RESPA. but in no more th:tu 12 monthly payments.
Upon payment in full of all sums secured by this Sect. il\ l~tstrument, Lender shall promptly refund
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 fill> .'%c.rity h~stru,nent, leasehold payments or
ground rents on the Property. if any, and Community Associ.'.i,,a Du~s, Fees, and Assessments, if any. To
the extent that these items are Escrow Items. Borrower shall p:~y thcul in die manner provided in Section 3.
Borrower shall promptly discharge any lien which has i.i~.'ity over this Security Instrument unless
Borrower: (a) agrees in writing to the payment of the obligati., secured by the lien in a manner acceptable
to Lender, but only so long as Borrower is performing such :t$!~ccnlent; (b) contests the lien in good faith
by, or defends against enforcement of the lien in, legal procc,:di~Egs which in Lender's opinion operate to
prevent the enforcement of the lien while those proceedings ~. ~. pcndiug, but only until such proceedings
are concluded; or (c) secures from the holder of the lien an a~cc~.cnt satisfactory to Lender subordinating
the lien to this Security Instrument. If Lender determines thai ,.mv part of the Property is subject to a lien
which can attain priority over this Security Instrument, Lendc~ m:ty give Borrower a notice identifying the
(~}~-6(WY) (ooos) Page S of ~ ~ Form 3051 1/01
lien. Within 10 days of the date on which that notice is giving. I~,~ r~wcr 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 Im· a real estate mx v~ri~cafion and/or
reporting service used by Lender in co~ection wi~ ~is Loan.
5. ~operty Insurance. Borrower shall keep ~e imprm cmcnts now existing or hereafter erected on
· e Property imured agaimt loss by fire, hazards included u ithi~t thc term "extended coverage," and any
o~er ha~rds including, but not li~ted to, ear.quakes and I1~. ~cls, ft>r which Lender requires imurance.
This insurance ~all be mimained in ~e amounts (includin~ deductible levels) and for ~e periods ~at
LeMer requires. What Lender requires pursuant to ~e preccdi.~ sentences can change during ~e term of
· e Loan. The imurame cagier providing ~e imurance shall bc chosen by Bo~ower subject to Lender's
right to disapprove Bo~ower's choice, which right shall t~,~ bc exercised u~easombly~ Lender my
require Bo~ower to pay, in co~ection wi~ ~is ~an, ~itl~c'r: (a) a one-time charge for flood zone
deter~mtion, certification and tracking se~ices; or (b) a m~'-timc charge for flood zone detemmtion
and certification services and subsequent charges each time rcm:tppings or similar changes occur which
reasombly ~ght aflbct such detestation or ce~ification, lh,rt~m,cr shall also be responsible for the
payment of any fees imposed by ~e Federal Emergency Nl:.~agcm~nt Agency in com~ction wi~ ~e
review of any flood zone ~te~mtion resulting from an objccti~m by ~orrower.
If Borrower fails to mintain ~y of ~e coverages dcsc~ ibcd above, Lender nmy obtain insurance
coverage, at ~nder's option and Bo~ower's expeme. Lemlc~ is under no obligation to purchase any
pa~icular t~e or amount of coverage. Therefore, such covc~aTc ~hall cover Lender, but ~ght or ~ght
not protect Bo~ower, Bo~ower's equity in ~e Property, or thc c~mtcnts of ~e Property, agaimt any risk,
hazard or liability and ~ght provide greater or lesser cover:tgc than was previously in effect. Bo~ower
ac~owledges ~at ~e cost of ~e i~urance coverage so obr, fi~cd might sigNficantly exceed ~e cost of
i~urance ~at Bo~ower could have ob~i~d. Any amounts di~bmscd by Lender under ~is Section 5 shall
become additioml debt of Bo~ower secured by ~s Security l~t:;trUtlt~llt. These amounts shall bear interest
at ~e Note rate from ~e date of disbursement and shall be p:~5",d)lc, wiflx such interest, upon notice from
Lender to Bo~ower requesting paymem.
All insurance policies required by LeMer and renewals ,~t such policies shall be subject to Lender's
right to disapprove such policies, shall include a standard .,~tgagc clause, and shall rome Lender as
mo~gagee and/or as an additioml loss payee. ~Mer shall h:~xc thc right to hold ~e policies and renewal
certificates. If Lender requires, Bo~ower shall promptly give ~,, l.cndcr all receipts of paid pre~un~ and
renewal notices. If Bo~ower obtai~ any fora of i~urance ~',~x ct:tgc, not o~erwise required by Lender,
for damge to, or destruction of, ~e Property, such policy ~h:~ll include a standard mortgage clause and
shall rome Lender as mortgagee a~or as an additioml loss p:~)
In ~e event of loss, Bo~ower shall give prompt notice t,~ thc insurance ca~er aM Lender. Lender
my rake proof of loss if ~t rode promptly by Borrower. t~.tcss Lender and Bo~ower otherwise agree
in writing, any i~ura~me proceeds, whe~er or not ~e m~derlx i~g insurance was req~red by Lender, shall
be applied to restoration or repair of ~e Property, if ~e rest,~r:ttim~ or repair is econo~cally feasible and
Le~er's security is not lesse~d. During such repair and rest~, :~ it m period, Lender ~all We ~e right to
hold such i~urance proceeds until Lender has had an oppmttmity to iuspect such Property to ensue ~e
work has been completed to ~nder's satisfaction, provided th:it such i~pection ~all be undertaken
promptly. Lender ~y disburse proceeds for ~e repairs and rcst~mltion iu a single paymem or in a series
of progress pay~ms as ~e work is completed. Ufless an agrc*cmcnt is nmde in writing or Applicable Law
requires imerest to be paid on such i~urame proceeds, Len(lc~ ,hzdl llOt be required to pay Bo~ower any
interest or ea~ngs on such proceeds. Fees for public adjuslcrs, or other ~rd parties, retained by
Bo~ower ~all not be paid out of ~e i~urance proceeds anti shzdt be fl~e sole obligation of Bo~ower. If
· e restoration or repair is ~t econo~cally feasible or Lender's sccurity would be lessened, ~e i~urance
proceeds ~all be applied to ~e su~ secured by ~s gecm'itx Instrument, whe~er or not ~en due, wi~
(~-6(WY) Iooos) Pag~ 6 of is Form 3051 1/01
the excess, if any, paid to Borrower. Such insurance proceeds ~hall bt: applied in the order provided for in
Section 2.
If Borrower abandons the Property, Lender may file, ~c?tiate aud settle any available insurance
claim and related matters. If Borrower does not respond withi~ a{) days to a notice from Lender that the
insurance carder has offered to settle a claim, then Lender may ~cgotiate and settle the claim. The 30-day
period will begin when the notice is given. In either event, m' il: Lender acquires the Property under
Section 22 or otherwise, Borrower hereby assigns to Lendc~ t'a~ Borrower's rights to any insurance
proceeds in an amount not to exceed the amounts unpaid undc~ thc Note or this Security Instrument, and
(b) any other of Borrower's rights (other than the right to 'a~y refund of unearned premiums paid by
Borrower) under all insurance policies covering the Property. ins~lhr as such rights are applicable to the
coverage of the Property. Lender may use the insurance procectls citht:r t() repair or restore the Property or
to pay amounts unpaid under the Note or this Security Instrumcm ~ x~ hether or not then due.
6. Occupancy. Borrower shall occupy, establish, and usc the Property as Borrower's principal
residence within 60 days after the execution of this Security Ii~slrumcnt and shall continue to occupy the
Property as Borrower's principal residence for at least one yea,' alter the date of occupancy, unless Lender
otherwise agrees in writing, which consent shall not be umcas, mabty withheld, or unless extenuating
circumstances exist which are beyond Borrower's control.
7. Preservation, Maintenance and Protection of the I'roperty; Inspections. Borrower shall not
destroy, damage or impair the Property, allow the Propcrt3 t~ deteriorate or commit waste on the
Property. Whether or not Borrower is residing in the Property. t/o,'rower shall maintain the Property in
order to prevent the Property from deteriorating or decreasing i,~ value due to its condition. Unless it is
determined pursuant to Section 5 that repair or restoration is ,~ol cctmomically feasible, Borrower shall
promptly repair the Property if damaged to avoid further dctcrim'ation or damage. If insurance or
condemnation proceeds are paid in connection with damage t,~, ~r the taking of, the Property, Borrower
shall be responsible for repairing or restoring the Property mdv it' Lender has released proceeds for such
purposes. Lender may disburse proceeds for the repairs and rcstt,ration iu a single payment or in a series of
progress payments as the work is completed. If the insurance ~r cm~demuation proceeds are not sufficient
to repair or restore the Property, Borrower is not relieved ol' t~,}rmwer's obligation for the completion of
such repair or restoration.
Lender or its agent may make reasonable entries upm~ ami inspections of the Property. If it has
reasonable cause, Lender may inspect the interior of the impr,~x cmc,~ts ou 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 bc i~ dclhult if, during the Loan application
process, Borrower or any persons or entities acting at thc di~c-ctim~ of Borrower or with Borrower's
knowledge or consent gave materially false, misleading, or in:recur'ate intbrmation or statements to Lender
(or failed to provide Lender with material information~ i~} cmmection with the Loan. Material
representations include, but are not limited to, representati~m, cm~ccrning Borrower's occupancy of the
Property as Borrower's principal residence.
9. Protection of Lender's Interest in the Property and Riglus Under this Security Instrument. If
(a) Borrower fails to perform the covenants and agreements co lit:tic,cd in this Security Instrument, (b) there
is a legal proceeding that might sig~fificantly affect Lender's i~twrcst in the Property and/or rights under
this Security Instrument (such as a proceeding in bankruptcy, p~ t~batc, fi)r condmmmtion or forfeiture, for
enforcement of a lien wlfich nmy attain priority over this 5ccm'ity Instrument or to enforce laws or
regulations), or (c) Borrower has abandoned the Property, thcll l.cndcr nmy do and pay for whatever is
reasonable or appropriate to protect Lender's interest in thc I'mperty and rights under this Security
Instrument, including protecting and/or assessing the value o l ~l~c I'roperty, and securing and/or repairing
the Property. Lender's actions can include, but are not limitctl tt}: (a) paying any sums secured by a lien
which has priority over this Security Instrument; (b) appcari~g in court; and (c) paying reasonable
(~-6(WY) ¢ooos) P~. 7 of ~ Form 3051 1/01
attorneys' fees to protect its interest in the Property and/or rights trade,' d~is Security Instrument, including
its secured position in a bankruptcy proceeding. Securing thc Ihopcrty includes, but is not limited to,
entering the Property to make repairs, change locks, replace o~ bt~ard up doors and windows, drain water
from pipes, eliminate building or other code violations, or da~gclt~tis conditions, and have utilities turned
on or off. Although Lender may take action under this Section t2 l.encter does not have to do so and is not
under any duty or obligation to do so. It is agreed that Lender i~ctirs no liability for not taking any or all
actions authorized under this Section 9.
Any amounts disbursed by Lender under this Section 9 5hall b~come additional debt of Borrower
secured by this Security Instrument. These amounts shall beat imcrcst at the Note rate from the date of
disbursement and shall be payable, with such interest, upon ~l,,ticc t'ro,n Lender to Borrower requesting
payment.
If this Security Instrument is on a leasehold, Borrower shall ~:omply with all the provisions of the
lease. If Borrower acquires fee title to the Property, the leasch,,ltl ami the fee title shall not merge unless
Lender agrees to the merger in writing.
10. Mortgage Insurance. If Lender required Mortgage l~15uiallcc as a condition of making the Loan,
Borrower shall pay the premiums required to nmintain the Mo~tgagc l tisurance in effect. If, for any reason,
the Mortgage Insurance coverage required by Lender ceases to b:, axailztble I¥om the mortgage insurer that
previously provided such insurance and Borrower was required t,~ make separately designated payments
toward the premiums for Mortgage Insurance, Borrower ~,hall pay thc premiums required to obtain
coverage substantially equivalent to the Mortgage Insurance p~cxitmsly in effect, at a cost substantially
equivalent to the cost to Borrower of the Mortgage Insura,,c p~eviously in effect, from an alternate
mortgage insurer selected by Lender. If substantially equix:dc~lt Mortgage Insurance coverage is not
available, Borrower shall continue to pay to Lender the amd trot ~, f thc separately designated payments that
were due when the insurance coverage ceased to be in effccl, l.cnder will accept, use and retain these
payments as a non-refundable loss reserve in lieu of Mortgage l~surance. Such loss reserve shall be
non-refundable, notWithstanding the fact that the Loan is ultim:t~dv paid in full, and Lender shall not be
required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss
reserve payments if Mortgage Insurance coverage (in the anit~u~ll ;md lbr the period that Lender requires)
provided by an insurer selected by Lender again becomes axailable, is obtained, and Lender requires
separately designated payments toward the premiums for Mortgag c lusu rance. If Lender required Mortgage
Insurance as a condition of making the Loan and Borrower xx:t~ rcqt, ired to ~nake separately designated
payments toward the premiums for Mortgage Insurance, B~,'~,~wcr shall pay the premiums required to
maintain Mortgage Insurance in effect, or to provide a ,,m ~chmdable loss reserve, until Lender's
requirement for Mortgage Insurance ends in accordance with :m~ xx rittcn agreement between Borrower and
Lender providing for such termination or until termination is ,'cqui red by Applicable Law. Nothing in this
Section 10 affects Borrower's obligation to pay interest at the raw im~victed in the Note.
Mortgage Insurance reimburses Lender (or any entity that l~urchases the Note) for certain losses it
may incur if Borrower does not repay the Loan as agreed. Ii~,~wer is not a party to the Mortgage
Insurance.
Mortgage insurers evaluate their total risk on all such inst~ra~cc in force from time to time, and may
enter into agreements with other parties that share or modify thcil ~isk, or reduce losses. These agreements
are on terms and conditions that are satisfactory to the mortg:q~c i~surcr and the other party (or parties) to
these agree~nents. These agreements ntay require the mortgage i~st~rcr to nmke payments using any source
of funds that the mortgage insurer may have available (which ~t:~> ii,elude funds obtained from Mortgage
Insurance premiums).
As a result of these agreements, Lender, any purchase~' .I thc Note, another insurer, any reinsurer,
any other entity, or any affiliate of any of the foregoing, uny receive (direcdy or indirectly) amounts that
derive from (or might be characterized as) a portion of Bon',x~c~'s payments for Mortgage Insurance, in
exchange for sharing or modifying the mortgage insurer's rb;k, t~r reducing losses. If such agreement
provides that an affiliate of Lender takes a share of the inst~cr's risk iu exchange for a share of the
premiums paid to the insurer, the arrangement is often termed ",captive reiusurance." Further:
(a) Any such agreements will not affect the amotmts that Borrower has agreed to pay for
Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount
Borrower will owe for Mortgage Insurance, and they will nol t,ntitle Borrower to any refund.
~-6(WY) Iooosl P.g. a o~ ~ ~ Form 3051 1/01
0 8
(b) Any such agreements will not affect the rights ll(~,'r(m'cr has - if any - with respect to the
Mortgage Insurance under the Homeowners Protection Act i~r 1998 or any other law. These rights
may include the right to receive certain disclosures, to r('Hues! and obtain cancellation of the
Mortgage Insurance, to have the Mortgage Insurance tern,imm~d automatically, and/or to receive a
refund of any Mortgage Insurance premiums that were unt.iwnc.d al 1he time of such cancellation or
termination.
11. Assignment of Miscellaneous Proceeds; Forfeitu,-c..-\ II Miscellaneous Proceeds are hereby
assigned to and shall be paid to Lender.
If the Property is dankaged, such Miscellaneous Proceeds ~h:dl b~ 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 ~i~ht ti) hold such Miscellaneous Proceeds
until Lender has had an opportunity to inspect such Property t,~ ensure the work has been completed to
Lender's satisfaction, provided that such inspection shall be tmclclt:ikcil promptly. Lender may pay for the
repairs and restoration in a single disbursement or in a so, ices ~1' progress payments as the work is
completed. Unless an agreement is made in writing or Applicable l.aw requires interest to be paid on such
Miscellaneous Proceeds, Lender shall not be required to pay ll,~rroxvcr any interest or earnings on such
Miscellaneous Proceeds. If the restoration or repair is not econ~Mc:dly feasible or Lender's security would
be lessened, the Miscellaneous Proceeds shall be applied to thc stmls secured by this Security Instrument,
whether or not then due, with the excess, if any, paid to Bor~{~ c~..quch Miscellaneous Proceeds shall be
applied in the order provided for in Section 2.
In the event of a total taking, destruction, or loss i~ xzduc oi' the Property, the Miscellaneous
Proceeds shall be applied to the sums secured by this Securitx l~lstrument, whether or not then due, with
the excess, if any, paid to Borrower.
In the event of a partial taking, destruction, or loss in value ~,f thc Property in which the fair market
value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
greater than the amount of the sums secured by this Security I~s~rtunent i~mnediately before the partial
taking, destruction, or loss in value, unless Borrower and Lc~dcr otherwise agree in writing, the sums
secured by this Security Instrument shall be reduced by tht: amount of the Miscellaneous Proceeds
multiplied by the following fraction: (a) the total amount ~1 tl~c sums secured inm~ediately before the
partial taking, destruction, or loss in value divided by (b) the l':ti r m:u'k¢t value of the Property innnediately
before the partial taking, destruction, or loss in value. Any bal:,~ct- shall be paid to Borrower.
In the event of a partial taking, destruction, or loss in valut: {ff the Property in which the fair nmrket
value of the Property immediately before the partial taking, destruction, or loss in value is less than the
amount of the sums secured innnediately before the partial t:dci~g, destruction, or loss in value, unless
Borrower and Lender otherwise agree in writing, the Miscelkmctms Proceeds shall be applied to the sums
secured by this Security Instrument whether or not the sums arc then clue.
If the Property is abandoned by Borrower, or if, al:tc~ nmice by Lender to Borrower that the
Opposing Party (as defined in the next sentence) offers to lnZd~c tm award to settle a claim for damages,
Borrower fails to respond to Lender within 30 days after the tt:~lc the notice is given, Lender is authorized
to collect and apply the Miscellaneous Proceeds either to rcst{}t:ttitm or repair of the Property or to the
sums secured by tiffs Security Instrument, whether or not then duc. "Opposing Party" means the third party
that owes Borrower Miscellaneous Proceeds or the party against x~hmn Borrower has a right of action in
regard to Miscellaneous Proceeds.
Borrower shall be in default if any action or proceeding, ix hcthcr civil or criminal, is begun that, in
Lender's judgment, could result in forfeiture of the Propert3 ~ mh¢r material impairment of Lender's
interest in the Property or rights under this Security Instrument. B,~rrower can cure such a default and, if
acceleration has occurred, reinstate as provided in Section 19. hx c'.msiug the action or proceeding to be
disxnissed with a ruling that, in Lender's judgment, precludes t,~Icittu'e of rite Property or other nmterial
impairment of Lender's interest in the Property or rights undc~ thin Security Instrument. The proceeds of
any award or claim for damages that are attributable to the inq3:tit mcnt of Lender's interest in the Property
are hereby assigned and shall be paid to Lender.
All Miscellaneous Proceeds that are not applied to r¢st,~:ttitm or repair of the Property shall be
applied in the order provided for in Section 2.
(~)~-6(WY) (ooo5) pag~ 9 of 15 Form 3051 1/01
.... -08 i5
12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for
payment or modification of amortization of the sums secured b,, ~l~is Security Instrument granted by Lender
to Borrower or any Successor in Interest of Borrower shall n~,~ ~,l~.r:ac to release the liability of Borrower
or any Successors in Interest of Borrower. Lender shall not {;~: required to conm~ence proceedings against
any Successor in Interest of Borrower or to refuse to exte~d time for payment or otherwise modify
amortization of the sums secured by this Security Instrument b~ rcas~m of any demand made by the original
Borrower or any Successors in Interest of Borrower. Any tbrbca~ al,CC by Lender in exercising any right or
remedy including, without limitation, Lender's acceptance ~,1 i~:<Vlnents t¥om third persons, entities or
Successors in Interest of Borrower or in amounts less than thc m~,~unt then due, shall not be a waiver of or
preclude the exercise of any right or remedy.
13. Joint and Several Liability; Co-signers; Successor~ and Assigns Bound. Borrower covenants
and agrees that Borrower's obligations and liability shall be j~i~t :titcl several. However, any Borrower who
co-signs this Security Instrument but does not execute thc N,,tc I',L "co-signer"): (a) is co-signing this
Security Instrument only to mortgage, grant and convey the c,,-~igncr's iuterest in the Property under the
terms of this Security Instrument; (b) is not personally oblig:~cd t~i pay the sums secured by this Security
Instrument; and (c) agrees that Lender and any other Borrox~c~ can agree to extend, modify, forbear or
make any accommodations with regard to the terms of this ~qccu~ity Instrument or the Note without the
co-signer's consent.
Subject to the provisions of Section 18, any Succes~,,~ in Interest of Borrower who assumes
Borrower's obligations under this Security Instrument in writing?, and is approved by Lender, shall obtain
all of Borrower's rights and benefits under this Security Inst~ ttmcm. Borrower shall not be released from
Borrower's obligations and liability under this Security Instru~'m unless Lender agrees to such release in
writing. The covenants and agreements of this Security lllslr,~ment shall bind (except as provided in
Section 20) and benefit the successors and assigns of Lender.
14. Loan Charges. Lender may charge Borrower fees h,r services performed in connection with
Borrower's default, for the purpose of protecting Lender's imc~cst in the Property and rights under this
Security Instrument, including, but not limited to, attorneys' Iccp, property inspection and valuation fees.
In regard to any other fees, the absence of express authority it, ~l~i~ Security Instrument to charge a specific
fee to Borrower shall not be construed as a prohibition on fl~c dt:t~,~ing t~f such fee. Lender may not charge
fees that are expressly prohibited by this Security Instrument ~ hx Applicable Law.
If the Loan is subject to a law which sets ~naximum loan cl~:. yes, :md fl~at law is finally interpreted so
that the interest or other loan charges collected or to be collc~:tcd in com~ection with the Loan exceed the
permitted limits, then: (a) any such loan charge shall be red,~'d tly the a~nount necessary to reduce the
charge to the permitted limit; and (b) any sums already collected I'mm Borrower which exceeded permitted
limits will be refunded to Borrower. Lender may choose t~ .~akc this refund by reducing the principal
owed under the Note or by making a direct payment to l~,~t,x~cr. Ifa refund reduces principal, the
reduction will be treated as a partial prepayment without ;t~3 prepayment charge (whether or not a
prepayment charge is provided for under the Note). Borrower's ',~cceptance of any such refund made by
direct payment to Borrower will constitute a waiver of any rigl, ~l action Borrower might have arising out
of such overcharge.
15. Notices. All notices given by Borrower or Lender i~ cmmcction with this Security Instrument
must be in writing. Any notice to Borrower in connection with ihi,~ .%curity Instrument shall be deemed to
have been given to Borrower when mailed by first class mail m' when actually delivered to Borrower's
notice address ff sent by other means. Notice to any one Bo,'~,x~cr ~hall constitute notice to all Borrowers
unless Applicable. Law expressly requires otherwise. The n~,ticc address shall be the Property Address
unless Borrower has designated a substitute notice address bx nmice to Lender. Borrower shall pro~nptly
notify Lender of Borrower's change of address. If Lender spccitics a procedure for reporting Borrower's
change of address, then Borrower shall only report a change t,l adclrcss through that specified procedure.
There may be only one designated notice address under fl~is Nccurity Instrument at any one time. Any
notice to Lender shall be given by delivering it or by maili~t~ it by first class mail to Lender's address
stated herein unless Lender has designated another addre~,5 by notice to Borrower. Any notice in
connection with this Security Instrument shall not be deemetl ~, have been given to Lender until actually
received by Lender. If any notice required by this Security It~rtimcnt is also required under Applicable
Law, the Applicable Law requirement will satisfy the cor~c'q~nding require~nent under this Security
Instrument.
(~-6(WY) Iooo5) Page lO of 15 Form 3051 1/01
,. 0836
16. Governing Law; Severability; Rules of Construclitm. This Security Instrument shall be
governed by federal law and the law of the jurisdiction in xxhlch the Property is located. All rights and
obligations contained in this Security Instrument are subjc,'~ t,~ any requirements and limitations of
Applicable Law. Applicable Law nfight explicitly or implicitl.~ :direr tile parties to agree by contract or it
nfight be silent, but such silence shall not be construed as a p~,,Idbitimi against agreement by contract. In
the evem that any provision or clause of this Security Instnm~cnt or thc Note conflicts with Applicable
Law, such conflict shall not affect other provisions of this Seem i~v Instrument or the Note which can be
given effect without the conflicting provision,
As used in this Security Instrument: (a) words of file ma~culillC gender shall mean and include
corresponding neuter words or words of the fe~ninine gender: th) words in the singular shall mean and
include the plural and vice versa; and (c) the word "may" gix ~-:4 stoic discretion without any obligation to
take any action.
17. Borrower's Copy. Borrower shall be given one copy ,}~' tl~¢ Note atd of this Security Instrument.
18. Transfer of the Property or a Beneficial Interest in Ih)rrower. As used in this Section 18,
"Interest in the Property" means any legal or beneficial interest i, thc Property, including, but not limited
to, those beneficial interests transferred in a bond for deed, co~,~act tm' riced, installment sales contract or
escrow agreement, the intent of which is the transfer of title b3 ll,,'rower at a future date to a purchaser.
If all or any part of the Property or any Interest in the Pr,q~c~ty is st)Id or transferred (or if Borrower
is not a natural person and a beneficial interest in Borrower is ~,tdd or transferred) without Lender's prior
written consent, Lender may require inunediate payment in fldl of all sums secured by this Security
Instrument. However, this option shall not be exercised bx Icnder if such exercise is prohibited by
Applicable Law.
If Lender exercises this option, Lender shall give Borr,~xx~'~ nmice of acceleration. The notice shall
provide a period of not less than 30 days from the date the nt~ticc is given in accordance with Section 15
within which Borrower must pay all sums secured by tiffs Security Instrument. If Borrower fails to pay
these sums prior to the expiration of this period, Lender max inv~,ke any remedies permitted by this
Security Instrument without further notice or demand on Borrmx
19. Borrower's Right to Reinstate After Acceleration. II' Borrower meets certain conditions,
Borrower shall have the right to have enforcement of this Scctn-ity Instrument discontinued at any time
prior to the earliest of: (a) five days before sale of the Propert3 ImtSuant to any power of sale contained in
this Security Instrument; (b) such other period as Applicable l:aw might specify for the termination of
Borrower's right to reinstate; or (c) entry of a judgment c,l',,rcing this Security Instrument. Those
conditions are that Borrower: (a) pays Lender all sums whid~ then would be due under this Security
Instrument and the Note as if no acceleration had occurred; (bt ctllcs any default of any other covenants or
agreements; (c) pays all expenses incurred in enforcing this Scctll it3' Instrument, including, but not limited
to, reasonable attorneys' fees, property inspection and valt~ati,m t'~s, and other fees incurred for the
purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d)
takes such action as Lender may reasonably require to assure that Lender's interest in the Property and
rights under this Security Instrument, and Borrower's obligati, m I~ pay the sums secured by this Security
Instrument, shall continue unchanged. Lender may require dn, t Bm rower pay such reinstatement sums and
expenses in one or more of the following forms, as selected b,. l.cndcr: (a) cash; (b) money order; (c)
certified check, bank check, treasurer's check or cashier's che~ k. provided any such check is drawn upon
an institution whose deposits are insured by a federal agency, in~ttumeatality or entity; or (d) Electronic
Funds Transfer. Upon reinstatement by Borrower, this Securitl I~tst rument and obligations secured hereby
shall remain fully effective as if no acceleration had occurreti. Ih~xxever, this right to reinstate shall not
apply in the case of acceleration under Section 18.
20. Sale of Note; Change of Loan Servicer; Notice ol' (;ricx ante. The Note or a partial interest in
the Note (together with this Security Instrumen0 can be sold tmc m' more times without prior notice to
Borrower. A sale might result in a change in the entity (knt,xx i~ as the "Loan Servicer") that collects
Periodic Payments due under the Note and this Security lnNttmncnt and pert'om other mortgage loan
servicing obligations under the Note, this Security Instrumem. arid Applicable Law. There also might be
one or more changes of the Loan Servicer unrelated to a sale ,,t thc Note. If there is a change of the Loan
Servicer, Borrower will be given written notice of the change xx hich will state the name and address of the
new Loan Servicer, the address to which payments should bc made and any other information RESPA
(~-6{WY} Iooo*l pa~ ~ o* ~ Form 3051 1/01
requires in connection with a notice of transfer of servicing. I1' tl,c Nt)tc is sold and thereafter the Loan is
serviced by a Loan Servicer other than the purchaser of the N~tc. thc mortgage loan servicing obligations
to Borrower will remain with the Loan Servicer or be transferlcd u~ a successor Loan Servicer and are not
assumed by the Note purchaser unless otherwise provided by thc Nt~tc purchaser.'
Neither Borrower nor Lender may commence, join. or bc itfined to any judicial action (as either an
individual litigant or the member of a class) that arises from thc .ti}er party's actions pursuant to this
Security Instrument or that alleges that the other party has brc:tchcd zmy provision of, or any duty owed by
reason of, this Security Instrument, until such Borrower or lc,der has notified the other party (with such
notice given in compliance with the requirements of Section 151 ~,I' such alleged breach and afforded the
other party hereto a reasonable period after the giving o1' s,d~ nt~tice to take corrective action. If
Applicable Law provides a time period which must elapse bcl,~c certain action can be taken, that time
period will be deemed to be reasonable for purposes of this i~:tr~lgraph. The notice of acceleration and
opportunity to cure given to Borrower pursuant to Section 22 a.~d the notice of acceleration given to
Borrower pursuant to Section 18 shall be deemed to satisfy thc nt~ticc and opportunity to take corrective
action provisions of this Section 20.
21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those
substances defined as toxic or hazardous substances, pollutants..r wastes by Environmental Law and the
following substances: gasoline, kerosene, other flammable m' t,~xic petroleum products, toxic pesticides
and herbicides, volatile solvents, materials containing asbestos ,, l'm'maldehyde, and radioactive materials;
(b) "Environmental Law" means federal laws and laws of the jtH i~diction where the Property is located that
relate to health, safety or enviromnental protection; (c) "Enxi~.mtcntal Cleanup" includes any response
action, remedial action, or removal action, as defined in Envilt.lmtcnt:d Law; and (d) an "Environmental
Condition" means a condition that can cause, contribute tt~. {}1' otherwise trigger an Environmental
Cleanup.
Borrower shall not cause or permit the presence, use, disl),~s',tl, storage, or release of any Hazardous
Substances, or threaten to release any Hazardous Substances, m~ ,.' in the Property. Borrower shall not do,
nor allow anyone else to do, anything affecting the Property I:t~ ihat is in violation of any Environmental
Law, (b) which creates an Environmental Condition, or (c) which, duc to the presence, use, or release of a
Hazardous Substance, creates a condition that adversely affect~ thc xmlue of the Property. The preceding
two sentences shall not apply to the presence, use, or stor:t~.c ~m thc Property of small quantities of
Hazardous Substances that are generally recognized to be appr{q~ri:~te to normal residential uses and to
maintenance of the Property (including, but not limited to, haz:, d(ms substances in consumer products).
Borrower shall promptly give Lender written notice of (:~ :.~y investigation, clai~n, demand, lawsuit
or other action by any governmental or regulatory agency or p~ ix':tt~ party involving the Property and any
Hazardous Substance or Environmental Law of which B~,'~tm'cr has actual knowledge, (b) any
Environmental Condition, including but not limited to, any spilli.g, leaking, discharge, release or threat of
release of any Hazardous Substance, and (c) any condition c:,~scd by the presence, use or release of a
Hazardous Substance which adversely affects the value of thc I'~ ~q)crty. If Borrower learns, or is notified
by any govennnental or regulatory authority, or any private p:, I), that any removal or other remediation
of any Hazardous Substance affecting the Property is necessar.~, l l~FFower shall promptly take all necessary
remedial actions in accordance with Environmental Law. Nmhing hcreiu shall create any obligation on
Lender for an Enviromnental Cleanup.
(~-6(WY) (ooo~1 P~. 12 of 15 Form 3051 1/01
NON-UNIFORM COVENANTS. Borrower and Lender l't~,d,cr covenant and agree as follows:
22. Acceleration; Remedies. Lender shall give notice t() I~o,'r(m'er prior to acceleration following
Borrower's breach of any covenant or agreement in this Nccu,-ity Instrument (but not prior to
acceleration under Section 18 unless Applicable Law provides olherxvise). The notice shall specify: (a)
the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date
the notice is given to Borrower, by which the default must h~· cured; aud (d) that failure to cure the
default on or before the date specified in the notice may resul! iu acceleration of the sums secured by
this Security Instrument and sale of the Property. The notice shall further inform Borrower of the
right to reinstate after acceleration and the right to bring a cm~rt action to assert the non-existence of
a default or any other defense of Borrower to acceleration ami sale. If the default is not cured on or
before the date specified in the notice, Lender at its option ma~ require immediate payment in full of
all sums secured by this Security Instrument without furtht,,' demand and may invoke the power of
sale and any other remedies permitted by Applicable L;m. I.cuder shall be entitled to collect all
expenses incurred in pursuing the remedies provided in this Nt.ctiou 22, including, but not limited to,
reasonable attorneys' fees and costs of title evidence.
If Lender invokes the power of sale, Lender shall give ,mtice of intent to foreclose to Borrower
and to the person in possession of the Property, if differem, in accordance with Applicable Law.
Lender shall give notice of the sale to Borrower in the manm:r provided in Section 15. Lender shall
publish the notice of sale, and the Property shall be sohl iu the manner prescribed by Applicable
Law. Lender or its designee may purchase the Property at anx sale. The proceeds of the sale shall be
applied in the following order: (a) to all expenses of the sale, including, but not limited to,
reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to
the person or persons legally entitled to it.
23. Release. Upon payment of all sums secured by this Sccm'itv Instrument, Lender shall release this
Security Instrument. Borrower shall pay any recordation costs, t_cnctcr nmy charge Borrower a fee for
releasing tiffs Security Instrument, but only if the fee is paid t,, a third party for services rendered and the
charging of the fee is permitted under Applicable Law.
24. Waivers. Borrower releases and waives all rights ulldcr and by virtue of the homestead
exemption laws of Wyoming.
(~-6(WY) (ooos) P~g. ~3 of ~ Form 3051 1/01
BY SIGNING BELOW, Borrower accepts and agrees to thc terms aud covenants contained in this
Security Instrument and in any Rider executed by Borrower and ~ccordcd with it.
Witnesses:
TAI4NY L. S~f~TH Y -Borrower
(Seal)
-Borrower
(Seal) (Seal)
-Borrower -Borrower
(Seal) (Seal)
-Borrower -Borrower
(Seal) (Seal)
-Borrower -Borrower
(~6(WY) {ooos) P.oo 14 of ~s Form 3051 1/01
090Gl1~
STATE OF WYOMING,
The foregoing instrument was acknowledged befoTe me th i,,
by TAMMY n. SMITH
. ,- 0810
1-IPq ~--~'-'- County ss:
My Commission Expires: ] 0 ~ ~-~ 07
Notary hmn,
(~-6G(WY) 10oo5} page 1{5 of 15 Form 3051 1/01