Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
904601
After recording please return to: GreenPoint Mortgage Funding, Inc. [Company Name] [Name of Natural Person] 90q601 RECEIVED LINCOLN COUNTY CLERK ~ Nt3V 15 PH 3: I I JEANNE WAGNER !': F.i',IM ERE;R, ,-,.~"v,,, O~;,.~N6"' 981 Airway Court, Suite E [Street Address] Santa Rosa, CA, 95403-2049 [City, State Zip Code] [Space Above This Line For Recordfi~j OPEN-END MORTGAGE Secondary Lien (Securing Future Adv'4 n ecs) MIN 100013800848384406 Loan Number: 0084838440 Borrower has established a line of credit ("Home Equity Line of Credit") with Lender as evidenced by Borrower's Home Equity Line of Credit Agreement and Promissory Note dated thc same date as this Security Instrument, and all renewals, extensions, modifications, replacements and substitutio,s thereof (collectively, the "Agreement"). Lender has agreed to make advances to Borrower under the terms of dw Ag,'ecment. Such advances shall be of a revolving nature and may be made, repaid and remade fi.om time to time. Borrower and Lender contemplate a series of advances to be secured by this Security Instrument. The total outstanding principal balance owing at any one time under the Agreement (not including charges and collection costs which may be owing fi.om time to time) shall not exceed Twenty Four Thousand Nine Hundred and 00/100ths [t~.h $ 24,900.00) plus interest thereon (the "Credit Limit"). That sum is referred to in the Agreement as the Credit l.imit. The entire indebtedness under the Agreement, if not paid earlier, is due and payable on December 1,2019 ,,-on such later date as may be permitted by Lender in writing, or at such earlier date in the event such indebtedne.,~ ~ accclel'ated in accordance with the terms of the Agreement and/or this Security Instrument. DEFINITIONS Words used in multiple sections of this Security Instrument arc ,lc lined below and other words are defined in Sections 3, 10, 12, 17, 19, and 20. Certain rules regarding the usage t~l' words used in this Security Instrument are also provided in Section 15. (A) "Security Instrument" means this Open-End Mortgage, whicl~ ~ dated November 3, 2004, together with all Riders to this document. Wyoming Open-End Mortgage- Secondary Lien MERS Modified THE COMPLIANCE SOURCE~ INC. Page 1 of 15 680~wY os/o~ www.complianc~oufce.com ~2002, Thc Compliance Source. Inc. G P M W D 0 0 8 4 8 3 8 4 4 0 I I 7 ;'" 06'"4 0904G01. (B) "Borrower" is Scott Lawrence and Linda D Lawrence, Husband And Wife . Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. Nil I< N is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. :Xl Ells is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware. and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" is GreenPoint Mortgage Funding, Inc.. Lender is a Corporation organized and existing under the laws of the N la lc o f New York. Lender's address is 100 Wood Hollow Drive, Novato, CA 94945. (E) ".xgreement" means the Home Equity Line of Credit Agreement and Promissory Note signed by Borrower and dated N.~ ember 3, 2004. The Agreement states Lender has agreed to make advances to Borrower under the terms ~)1' Iht Agreement, such advances to be of a revolving nature. The total outstanding principal balance owing at any ~,3c time under the Agreement (not including charges and collection costs which may be owing fi.om time to time tmdc~' thc Agreement) not to exceed the Credit Limit of Twenty Four Thousand Nine Hundred and 00/100ths l)~dlars (U.S. $ 24,900.00) plus interest. Borrower has promised to pay the total outstanding balance in Periodk Paylncnts and to pay the entire debt in full not later than December 1, 2019. (F) "Property" means the property that is described below under thc heading "Transfer of Rights in the Property." (G) "Account" means the debt evidenced by the Agreement, piths i~tcrcst, any other charges due under the Agreement, and all sums due under this Security Instrument, plus interest. (It) "Riders" means all Riders to this Security Instrument thai arc executed by Borrower. The following Riders are to be executed by Borrower [chock box as applicable]: [~] Adjustable Rate Rider '-']Balloon Rider ~-] Home Improvement Rider [~] Other(s) [specify] [~] Condominium Rider [~] Planned Unit Developmcm Rider ~-~ Revocable Trust Rider [~] Second Home Rider [~ Biweekly Payment Rider (I) "Applicable Law" means all controlling applicable federal, static and local statutes, regulations, ordinances and administrative roles and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" mc:tns all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominitm~ association, homeowners association or similar organization. Wyoming Open-End Mortgage - Secondary Lien MERS Modified --THE COMPLIANCE SOURCE, INC. Page 2 of 15 ~so~3WY oa~o2 www.compliancesource.com ~2002. Thc Compliance Source, Inc. G P M W D 0 0 8 4 8 3 8 4 4 0 1 1 7 (}904 01. O6.25 (K) "Electronic Funds Transfer" means any transfer of funds, dl~c~ than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institu~ i,m 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 transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Secti~m 3. (M) "Miscellaneous Proceeds" means any compensation, settlcm,:m, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coveragc~ described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all ~,r a ny part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as lo. ~hc value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender ~t~_,,mst the nonpayment of, or default on, the Agreement and the Account. (O) "Periodic Payment" means the amount due ~om Borrower t{~ l.cndcr each month for (i) principal and/or interest under the Agreement, and all late charges and other ch.r~c.~ provided herein or authorized by the Agreement, plus (ii) any amounts under Section 3 of this Security hastrt,~c~ (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C, § 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they ~mght bc amended from time to time, or any additional or successor legislation or regulation that governs the sam~. suhjcct matter. As used in this Security Instrument, "RESPA" refers to the escrow account requirements and rc~lrictions that are imposed in regard to a "federally related mortgage loan" even if the Agreement and the Acc~m,t do not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that h:~ t~d~cn title to the Property, whether or not that party has assumed Borrower's obligations under the Agreement and '~)r d~is Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (a) the prompt repayment o1' tl~c Account evidenced by the Agreement, and all renewals, extensions and modifications of the Agreement, wilh imcrcst thereon at the rate provided in the Agreement; Co) the payment of all other sums due under the Agreemcm. xx'itl~ interest thereon at the rate provided in the Agreement, (i) advanced to protect the security of this Security Inshumc,t, (ii) incurred by Lender in connection with the enforcement of its rights under this Security Instrument and/or thc Agreement, and/or (iii) required to be paid as set forth herein or in the Agreement; and (c) the performance of Borr~xx cr's covenants and agreements under this Security Instrument, the Agreement and any prior mortgage or deed of h~ud. For this purpose, Borrower does hereby mortgage, grant and conve) ~,~ MI-;I~S (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns o1' N1ER$, with power of sale, the following described real property located in the County of Lincoln: [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] Wyoming Open-End Mortgage - Secondary Lien MERS Modified --THE COMPLIANCE SOURCE, INC. Page 3 of 15 68oDwY 08/02 www.compliap, cesource.com O2002, Thc Compliance Source, Inc. G P M W O 0 0 8 4 8 3 8 4 4 0 I I 7 0904 01, 06"{3 Lot 1 of Star View Estates Subdivision, Lincoln County, Wyoming :~ described on the official plat thereof. which currently has the address of 106 Star Lane Alton , Wyoming 83110 [City] [Zip Corh;] ("Property Address"). TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred tt~ in thi,~ Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to thc interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom. X II'.R~ (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those intc~cst.~, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of l.cmlcr including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seiscd of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is tmcncumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Pr~ i)crty against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covcnams for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform sccm'ity instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant m~d agree as follows: 1. Payment of Principal, Interest and Other Charges. B,n'rower shall pay when due the prinmpal of, and interest on, the debt evidenced by the Agreement and if allowable under Applicable Law, any prepayment charges, late charges and other charges due under the Agreement. Pit3 mcnts due under the Agreement and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Agreement or this Security Instrument is returned to l.cnder unpaid, Lender may require that any or all subsequent payments due under the Agreement and this Secu ~i ty h~stl'ument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) c crt iff ~d check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an ~nstitmion whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. 2. Application of Payments or Proceeds. Payments arc deemed received by Lender when received at the location designated in the Agreement or at such other location as may be designated by Lender in accordance with the notice provisions in Section 14 or in such manner or location ,~ required under Applicable Law. Except as otherwise described in this Section 2, and as permitted under Applicable I aw. all payments accepted and applied by Lender shall be applied to the outstanding Account balance in the fiflloxx'i ng order of priority: (i) any prepayment charges due under the Agreement and/or this Security Instrument if pcrmiltcd by Applicable Law; (ii) amounts due under this Security Instrument to secure the amounts advanced under thc Account and to protect Lender's security; Wyoming Open-End Mortgage- Secondary Lien MERS Modified THE COMPLIANCE SOURCE, INC.-- Page 4 of 15 ~80~wY 0~0~ www,compliancesource.eom ©2002, The Compliance Source. inc. G P M W D 0 0 8 4 8 3 8 4 4 0 I I 7 ? OS04(;O1. ,- 0 6 27 (iii) any escrow payments under Section 3 of this Security Instrument. , f l.cndcr requires such payments; (iv) any late charges; (v) any other fees and charges other than finance charges: ,, ~ accrued and unpaid finance charges due under the Agreement; and (vii) any unpaid principal balance due under II ~c :\grccment. If Lender receives a payment from Borrower for a delinquent I'c~iodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to thc delinquent payinent and the late charge. If more than one Periodic Payment is outstanding, Lender may apply a~5' payment received fi'om Borrower to the repayment of the Periodic Payments if, and to the extent that, each pas~cm can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of o~c or more Periodic Payments, such excess may be applied to any late charges due. To the extent permitted by Appl icablc Law, voluntary prepayments shall be applied first to any prepayment charges and then as described in the Ag~ cement. Any application of payments, insurance proceeds, or Misccll:mcous Proceeds to principal due under the Agreement shall not extend or postpone the due date, or change the amotm~ of the Periodic Payments. 3. Funds for Escrow Items. Subject to Applicable Law ]lt)rro\\,cr shall pay to Lender on the days Periodic Payments are due under the Agreement, until the Account is p:~ ~,t i~ full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other ite~ which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payl~ ~c,l~ls or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Sect i t>t~ 5. and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the paymcm of Mortgage Insurance premiums. These items are called "Escrow Items." At origination or at any time duril~g thc tcrln of the Agreement, Lender may require that Community Association Dues, Fees, and Assessments, if at~\', be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall prompll) Ira', ish to Lender ali notices of amounts to be paid under this Section 3. Borrower shall pay Lender the Fumls Ibr Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. clldcr may waive Borrower's obligation to pay to Lender the Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where pa3 al)lc, th~ amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may i'ct mrc. Bo,Tower's obligation to make such payments and to provide receipts shall for all purposes be deemed to bc ~. cm.'cnant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used m ~qcction 8. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay thc mnount due for an Escrow Item, Lender may exercise ~ts rights under Section 8 and pay such amount and Born~wcr shall then be obligated under Section 8 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 14 and, upon such revocation. I lotto\vet 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 amoun (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the nl:txilnunl amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis t~l' current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with A ppi icabl c Law. The Funds shall be held in an institution whose deposits are insm'cd by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits arc ,~, insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later th;ill thc time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annuall3 :malyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds ;tim Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable I ax\ requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings tm Iht Funds. Borrower and Lender can agree Wyoming Open-End Mortgage - Secondary Lien M~RS Modified THE COMPLIANCE SOWRCE, I. NC. Page 5 of 15 68013WY 08/02 www.complianccsourcc.com {~2002, Thc Compliance Source, lnc G P M W D 0 0 8 4 8 3 8 4 4 0 1 1 7 O6,?:8 in writing, however, that interest shall be paid on the Funds. Lender Nhall give to Bo~ower, without charge, an a~ual account~g of the Funds as requbed by ~SP~ If there is a s~lus of Funds held in escrow, as defined undc~ 14ESPA, Lender s~ll account to Bo~ower for the excess ~nds in accordance ~ ~SPA. I¢ there is a'shom~;c or I:unds held in escrow, as defined under EESPA to mean the amount by wMch a c~ent escrow balance falls NhoH td~ thc tm'get balance at the time of escrow analysis, Lender shall noti~ Bo~ower as required by ~SPA, and BmTt~wcr shall pay to Lender the amount necess~ to make up the shoaage in accordance Mth ~SPA, but in m, m~a'c than 12 montMy pa~ents. If there is a deficiency of Funds held in escrow, as defined under ~SPA to mc;,~ tl~c amount or the negative balance in the escrow accoum, Lender s~ll noti~ Bo~ower as required by ~SPA. ;md Borrower shall pay to Lender the amount necess~ to ~ke up the deficiency ~ accordance with ~SPA, but in ~,~ more than 12 monthly pa~ents. Upon pa~ent in ~11 of all sums seemed by this Security h~>h'tHncnt, Lender shall promptly re,nd to Bo~ower any Funds held by Lender. Bo~ower shall not be obligated ~,~ ~,;~kc such pa~ents or Funds to Lender to the extent that Bo~ower makes such pa~ents to the holder of a prior ~ ~t~l'l~;tgc or deed or t~st if such holder is an i~titutional lender. I¢ under Section 21 the Prope~ is sold or the Pro ;~¢ %, ~s othe~se acquired by Lender, Lender shall apply no later than i~ediately prior to the sale of the Prope~ or h~ acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums sec~ed b~ ~l~is Sccuri~ Inst~ment. 4. Charges; Liens. Bo~ower shall per¢o~ all oFao~o;vcr'~ obligations under any moasage, deed of t~st, or other secud~ a~eement Mth a lien which has priority over ~l~i~ ~ccurity Inst~ment. Bo~ower shall pay when due, all t~es, assessments, charges, fines, and impositio~ alll~hulablc to the Prope~ which can aRain priority over this Secud~ Inst~ment, leasehold pa~ents or 8round rcm, on thc Prope~, i¢ any, and Communi~ Association Dues, Fees, and ~sessments, i¢ any. To the extent that d~c,c items are Escrow Items, Bo~ower shall pay them in the ma~er provided in Section 3. Bo~ower shall promptly discharge any lien other than a limn di~ch~scd to Lender in Bo~ower's application or in any title repoa Lender obtained which has pdod~ over this Securi~> Instrument unless Bo~ower: (a) a~ees in ~itin8 to the pa~ent o¢ the obligation sec~ed by the lien in a man,ct ;tcccptablc to Lender, but only so long as Bo~ower is per¢o~ing such a~eemem; (b) contests the lien in good lh id~ hy, or de rends against enforcemem o¢ the lien in, legal proceedings which in Lender's opi~on operate to prc~ cm d~c cn¢orcemem of the lien wMle those proceedings are pending, but only until such proceedings are concluded. ~r (c) secures from the holder of the lien an a~eement satisfactow to Lender subordinating the lien to ~is Sec~ib, In,~ rmncnt. Lender may require Bo~ower to pay a one-time charge For; real estate tax verification ancot repodin8 se~ice used by Lender in co~ection with the A~eement, the Accom~t and this Sec~i~ Inst~ment, i¢ allowed under Applicable ~w. 5. Proper~ Insurance. Bo~ower shall keep the improvcmcm, now existing or hereaaer erected on the Prope~ i~ured against loss by fire, hazards included within the term "extended coverage," and any other ha~rds including, but not limited to, e~hquakes and floods, for which Lendc~ ~cquiros insurance. This insurance shall be maintained in the amounts (including deductible levels) and for thc peri,Ms that Lender requires. ~at Lender requires pursuant to the preced~g sentences can change during the tc~m ~I' tho Agreement. The imurance c~er provid~g the insurance shall be chosen by Bo~ower subject to Lender's right to disapprove Bo~ower's choice, which right shall not be exemised u~e~onably. Lender may require [h~rrower to pay, in co~ection with the A~eement, the Account and this Sec~iW Instrument, either: (a)a {mc-time charge for flood zone dete~ination, ceaification and tracing se~ices; or (b) a one-t~e charge for flood /~,~c determination and ceaification se~ces and subsequent charges each time remappings or similar changes occur which reasonably might affect such dete~ination or ce~ification. Bo~ower shall also be respo~ible fi~ tl~c pa~nent of any fees imposed by the Federal Emergency Management Agency in co~ection with the review rd' any flood zone dete~ination resulting kom ~ objection by Bo~ower. Wyoming Open-End Mortgage- Secondary Lien/VIERS Modified THE COMPLIANCE SOURCE, INC.-- Page 6 of 15 68o13wY 08/02 www.complianccsource.com C~2002, Thc CompUnet Source, Inc. G P M W D 0 0 8 4 8 3 8 4 4 0 I I 7 0629 0904G01. If Borrower fails to maintain any of the coverages described ah(~vc, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no oblig:tli,)H to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but miglH ~r night not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against, any risk. h:t×ard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost Of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrcwcr could have obtained. Any amounts disbursed by Lender under this Section 5, shall be added to the unp:~id balance of the Account and interest shall accrue at the rate set forth in the Agreement, fi.om the time it was added ,, thc unpaid balance until it is paid in full. Subject to Applicable Law, all insurance policies required by I u~ Mcr and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include ~ shmdard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee, and Borrow cr fiHlhcr agrees to generally assign rights to insurance proceeds to the holder of the Agreement and the Account up m thc amount of the outstanding Account balance. Lender shall have the fight to hold the policies and renewal ccrlificatcs. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewHI ~ ~tices. If Borrower obtains any form of insurance coverage not otherwise required by Lender, for damage m. ~,' destruction of the Property, such policy shall include a standard mortgage clause and shall name Lender as morlg;~gcc ,'md/or as an additional loss payee, and Borrower further agrees to generally assign rights to insurance proccud~ to the holder of the Agreement and the Account up to the amount of the outstanding Account balance. In the event of loss, Borrower shall give prompt notice to d~c ~Hs~H'ance cmxier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender ;t~,t Borroxver otherwise agree in writing, and subject to the rights of any holder of a mortgage, deed of trust, or tHh,.r security agreement with a lien which has priority over this Security Instrument, any insurance proceeds, whether {,r not thc underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, l' thc restoration or repair is economically feasible and Lender's security is not lessened. During such repair and rcMuratton period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity t~ iH~pcct the Property to ensure the work has been completed to Lender's satisfaction, provided that such tnspectioH shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment ~,- i~ it series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law reqmres interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any iHIcrcst or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall H, ~ he paid out of the insurance proceeds, and shall be the sole obligation of Borrower. Subject to the rights of any htddcr of a mortgage, deed of trust, or other security agreement with a lien which has priority over this Security IH~trumcnt, if the restoration or repair is not economically feasible or Lender's security would be lessened, the insul';tllcu proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with linc excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2 If Lender believes that Borrower has abandoned the ProperLy I.cHder may file, negotiate and settle any available insurance claim and related matters. If Borrower does not rc~ptmd within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender nmy Hcgt)tiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Len&:r ;requires the Property under Section 21 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights tt~ :tHy insurance proceeds in an amount not to exceed the amounts unpaid under the Agreement, the Account or thi, .~cctH'ity Instrument, and (b)any other of Borrower's rights (other than the right to any refund of unearned prcH H tit lis paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to lhu c{ivcrage of the Property. Subject to the rights of any holder of a mortgage, deed of trust, or other security agrcc~cm with a lien which has priority over this Wyoming Open-End Mortgage- Secondary Lien M~RS Modified --THE COMPLIANCE SOURCE, INC.-- Page 7 of 15 *8o~3wY oatoz www.complianccsource.com 02002, Thc Compliance Source, [nc G P M W D 0 0 8 4 8 3 8 4 4 0 I 1 7 0904G01 .._ 06,- 0 Security Instrument, Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Agreement, the Account or this Security ln~l rt,nc~] t, whether or not then due. 6. Preservation, Maintenance and Protection of the I'rtq~erty; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to detcri~mttc or cmmnit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maint~m ~hc Prope~Xy in order to prevent the Property fi.om deteriorating or decreasing in value due to its condition. If Il: Property is damaged, unless it is determined pursuant to Section 5 that repair or restoration is not economical( I'casible, Borrower shall promptly repair the Property to avoid further deterioration or damage. If insurance or c,~dcmnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be ,'csp,msibl¢ for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments ,,~ thc work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Pn)pct % Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and in5 pcctions of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Pn)pcrb,' Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reas(m: blt cause. 7. Borrower's Home Equity Line of Credit Application. florrower shall be in default if, during the home equity line of credit application process, Borrower or an3, persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially li~lsc, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material inform:t lion) in connection with the Agreement, the Account or this Security Instrument. Material representations inc mit, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's princ ip:d residence. 8. Protection of Lender's Interest in the Property and Iligh~s Under this Security Instrument If (a) Borrower fails to perform the covenants and agreements contained i~ this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in thc Pnq~crty and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemtt;tli~m or forfeiture, for enforcement of a lien which has or may attain priority over this Security Instrument or m cntbrcc laws or regulations), or (c)Lender believes that Borrower has abandoned the Property, then Lender m~ y do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights tmtlcr this Security Instrument, including protecting and/or assessing the value of the Property, and securing and '~t-repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has or may attain priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable :~mm~eys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Properb, m make repairs, change locks, replace or board up doors and windows, drain water fi.om pipes, eliminate building m' other code violations or dangerous conditions, and have utilities turned on or off. Although Lender ma5, take action under this Section 8, Lender does not have to do so and is not under any duty or obligation to do so. It is :~rccd that Lender incurs no liability for not taking any or all actions authorized under this Section 8. Any amounts disbursed by Lender under this Section 8 shall bcc~m~c additional debt of Borrower secured by this Security Instrument if allowed under Applicable Law. These am{~tm~s shall bear interest at the rate set forth in the Agreement fi.om the date of disbursement and shall be payable, w/Ih such interest, upon notice fi.om Lender to Borrower requesting payment. Wyoming Open-End Mortgage - Secondary Lien MERS Modified THE COMPLIANCE SOURCF_~ INC.~ www.complianccsource.com Page 8 of 15 0631 If this Security Instrument is on a leasehold, Borrower shall comply with all the provtsions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee l il lc sba I1 not merge unless Lender agrees to the merger in writing. 9. Mortgage Insurance. Mortgage Insurance rfiimbursc~ 1.cnder (or any entity that purchases the Agreement and the Account) for certain losses it may incur if Bom~ucr does not ?epay the Account as agreed. Borrower is not a party to the Mortgage Insurance. If Lender required Mortgage Insurance as a condition of entcring into the Agreement and establishing the Account, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. 10. Assignment of Miscellaneous Proceeds; Forfeiture. hc Miscellaneous Proceeds of any award or claim for damages, direct or consequential, in connection with any co,dcmnation or other taking of the Property, or any part thereof, or for conveyance in lieu of condemnation, are hereh.v ass,gncd and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agrecmcm with a lien which has priority over this Security Instrument. If the Property is damaged and if the restoration or repair is cctmomically feasible and Lender's security is not lessened, such Miscellaneous Proceeds shall be applied to restor:~it, m' repair of the Property. During such repair and restoration period, Lender shall have the right to hold such ),liscclhmeous 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 promptly. Lender may pay Ibr tl~e repairs and restoration in a single disbursement or in a series of progress payments as the work is completed Uuless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous I'rocceds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. Il'Irc restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Pr~cccds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, il' ~my, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. If Lender believes that the Property is abandoned by Borrower. o,' if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to n~:dqc an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date thc m~tice is g~ven, then Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or rc p:fir o f the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Pan3" mc:ms the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has , '~ght of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, uhclhcr civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other m:~crial impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 18, by causing the action or ~ t~cccding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other m:~tcri',d impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds ~f any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hcrchy assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to re storatit,~ ~,r t'c pt ir of the Property shall be applied in the order provided for in Section 2. 11. Borrower Not Released; Forbearance By Lender Not .., Wniver. Extension of the time for payment or modification of amortization of the sums secured by this Security I i~h'tnn~nt granted by Lender to Borrower or any Successor ~n Interest of Borrower shall not operate to release d~c liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise moc~ifv amortization of the sums secured by this Wyoming Open-End Mortgage- Secondary Lien MERS Modified THE COMPLIANCE SOURCF~ INC. Page 9 of 15 ~o~3v~ www complianccsourcc.com O2002, Thc Compliance Source, Inc. G P M W D 0 0 8 4 8 3 8 4 4 0 I 1 7 0904G0 L 0632 Security Instrument by reason of any demand made by the original ll.rrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or rcl~cdy i~cluding, without limitation, Lender's acceptance of payments from third persons, entities or Successors in lmcrcst of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercige of any right or remedy.. 12. Joint and Several Liability; Co-signers; Successors :md Assigns Bound. When Borrower (as that term is defined above) includes more than one person, Borrower covc~:mts and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who c¢ ~igns this Security Instrument but does not execute the Agreement (a "co-signer"): (a) is co-signing this Securily In.~trument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of ~l~i, Nccurity Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodation~ wifl~ regard to the terms of this Security Instrument or the Agreement without the co-signer's consent. Subject to the provisions of Section 17, any Successor in Imcr~t of BO~Tower who assumes Borrower's obligations under this Security Instrument in writing, and is approved hy L~nder, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not hc released fi'om Borrower's obligations and liability under this Security InstrUment unless Lender agrees to s,ch i'¢lczt$e in writing. The covenants and agreements of this Security Instrument shall bind (except as provided i~ .Section 19) and benefit the successors and assigns of Lender. 13. Account Charges. Lender may charge Borrower fcc~ iht SCl-vices performed in connection with Borrower's default, for the purpose of protecting Lender's interest in iht Property and rights under this Security Instrument, as allowed under Applicable Law, including, but not limilcd h~, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express aud~,~rily in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on th~ charging of such fee. Lender shall have the authority to impose additional fees and charges to perform services rcqt~cstcd by or on behalf of Borrower, or to otherwise administer and service the Agreement and the Account. ~ hc additional fees and charges may include administrative costs incurred by Lender and/or in reimbursement of payn ~cnts made by Lender to third parties. Such fees and charges may include, without limitation, any and all costs ~ I'ccs associated with the origination and/or servicing of such Agreement and the Account, document copy or prep:~r:tdon ices, transmittal, facsimile or delivery fees, reconveyance and release fees, property inspections and returned check or insufficient funds charged in connection with payments made by or on behalf of Borrower under ~hc Agreement and all other such fees for ancillary serrates performed by Lender for BorroWer or at Borrowcr'~ rCClU~st or for services necessitated by or resulting from Borrower's default or malfeasance relating to this Security ln.strument or the Agreement or incurred by Lender or assessed upon Borrower pursuant to the provisions of thi.~ 54ccurity Instrument or the Agreement. Such fees and charges shall be secured by this Security Instrument up to linc amount of the Credit Limit and, unless Borrower and Lender agree to other terms of payment, shall bear interest t'rom the date assessed by Lender at the rate stated in the Agreement, and in effect from time to time, and %hall h~ payable, with interest, immediately following written demand from Lender to Borrower requesting paymc~ lh creof. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable l.~ w. The absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not bc c'~lrucd as a prohibition on the charging of such fee. If either the Agreement or the Account is subject to a law which ~ctg maximum loan charges, and that law ~s finally interpreted so that the interest or other charges collected ~r to be collected in connection with the Agreement and the Account exceed the permitted limits, then: (a) any Ntlch charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sum~ ah'cady collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender m%' choose to make this refund by reducing the principal owed under the Agreement or by making a direct payment to l lorrower. If a refund reduces principal, the Wyoming Open-End Mortgage - Secondary Lien M2ERS Modified THE COMPLIANCE SOURCE~ INC.-- Page 10 of 15 ~ao~awY 0~0~ www.complianccsou~ce.com ©2002, The Compliance Source, Inc. G P M W D 0 0 8 4 8 3 8 4 4 0 1 I 7 · 06.33 reduction will be treated as a partial prepayment. Borrower's acccpta~ce of any such refund made by direct payment to Borrower will constitute a waiver of any right of acti~)~ I-I~rrower may have arising out of such overcharge. 14. Notices. All notices given by Borrower or Lender' in core,co,ion with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security l,~rumc~t shall b~ deemed to have been given to Borrower when mailed by first class mail or when actually delivered ~,~ l~rrowcr's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all l~,~r~wcrs unless Applicable Law expressly requires otherwise. The notice address shall be the Property Addres~ t~ic'ss Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify I c~dcr of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of addrc~ tl~c~ Borrower shall only report a change of address through that specified procedure. There may be only one dc~igm~tcd notice address under this Security Instrument at any one time. Any notice to Lender shall be given by dc I ix cri,g it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated anothc~ ~ddt'css by notice to Borrower. Any notice in cmmection with this Security Instrument shall not be deemed to have hccn given to Lender until actually received by Lender. If any notice required by this Security Instrument is also rcq,i red t, nder Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this ~cct,ity Instrument. 15. Governing Law; Severability; Rules of Construction. 'l hi~ Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is t,~c:~cd. All rights and obligations contained in this Security Instrument are subject to any requirements and lindt~dt~.s of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it ~dght be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the eve~ tl~at ~.~y provision or clause of this Security Instrument or the Agreement conflicts with Applicable Law, such co~H]ic't shall not affect other provisions of this Security Instrument or the Agreement which can be given effect withoul Il ~ c(~,fi icting provision. As used in this Security Instrument: (a) words of the ~:t~culine gender shall mean and include corresponding neuter words or words of the feminine gender; (b)word~ ill thc singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion with~,t~t a,y obligation to take any action. 16. Borrower's Copy. Borrower shall be given one Ct~l~3' ~' thc Agreement and of this Security Instrument. 17. Transfer of the Property or a Beneficial Interest in Bott.wet. As used in this Section 17, "Interest in the Property" means any legal or beneficial interest in the Property, i~'ludi,g, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sa Ic~ cta~tract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property i~ ~old tlr transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transfcrr~:d) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by th i~ .qccurity Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Appl icahl c La w. If Lender exercises this option, Lender shall give Borrower no~i~,c (~f acceleration. The notice shall provide a period of not less than 30 days fi.om the date the notice is given i~ ~ccordance with Section 14 within which Borrower must pay all sums secured by this Security Instrument. If B~)rr~)wcr fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted l~y ii,is Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate After Acceleration. If I-~rrt)wer meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument di,c~ti~alcd at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale c,,~ained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of [3,~rrowcr's right to reinstate; or (c) entry of a Wyoming Open-End Mortgage - Secondary Lien MERS Modified THE COMPLIANCE SOURCE, INC.-- Page 11 of 15 ~ao~3wY o8/o~ www.compliancesource.cotn ©2002, Thc Compliance Source, Inc. G P M W D 0 0 8 4 8 3 8 4 4 0 I I 7 judgment enforcing this Security Instrument. Those conditions are th:~t Rt~rrowcr: (a) pays Lender all sums which then would be due under this Security Instrument and the Agreement :~ it' tit) acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all c×pcnscs incurred in enforcing this Security Instrument, as allowed under Applicable Law; and (d) takes such actitm :~s l.cndcr may reasonably require to assure that Lender's interest in the Property and rights under this Security hast ittntcnt, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Icndcr may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms. ~ selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrt,.~cntality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument :md ohliganons secured hereby shall remain fully effective as if no acceleration had occurred. However, this rigl~I tt) reinstate shall not apply in the case of acceleration under Section 17. 19. Sale of Agreement/Account; Change of Loan Servicer; N.lice of Grievance. The Agreement and the Account, or a partial interest in the Agreement and the Account (h~gclhcr with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale migl~i ic~,t~lt in a change in the entity (known as the "Loan Servicer") that collects the Periodic Payments due under thc .\grccmcnt and this Security Instrument and performs other mortgage loan servicing obligations under the Agreement, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer urn'elated to a sale of the Agreement and the Account. If there is a change of the Loan Servicer, if required under Applicable Law, Borrower will be given written notice of the change which will state the name and address of' thc new Loan Servicer, the address to which payments should be made and any other information RESPA require, i, connection with a notice of transfer of servicing. If the Agreement and the Account are sold and thereafter thc :\ grccmcnt and the Account are serviced by a Loan Servicer other than the purchaser of the Agreement and the Acc~mm, tile mortgage loan servicing obligations will remain with the Loan Servicer or be transferred to a successor Io;m Servicer and are not assumed by the purchaser of the Agreement and the Account unless otherwise provided hy thc purchaser. Neither Borrower nor Lender may commence, join, or bc jt~incd to any judicial action (as either an individual litigant or the member of a class) that arises fi.om the olhcr party's actions pursuant to this Security Instrument 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 thc ~thcr party (with such notice given in compliance with the requirements of Section 14) of such alleged l,~'c~cl~ and afforded the other party hereto a reasonable period after the giving of such notice to take corrective adi~m. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period xxitl hc deemed to be reasonable for purposes of this Section 19. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 21 and the notice of acceleration given to Borrower pursuant to Section 17 ,l~all be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 19. 20. Hazardous Substances. As used in tiffs Section 20: (a) '1 {:lTm'dous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Envi~¢t~cntal Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive matcri:~l~; (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)"Environmental Cleanup" includes any response actitm, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" ~c;ms a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, dispersal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in thc t'mpcrty. Borrower shall not do, nor allow ~Vyoming Open-End Mortgage - Secondary Lien MERS Modified ~THE COMPLIANCE SOURCE, INC.-- Page 12 of 15 ~80~w'v 0~uo~ www.compliancesource.com ©2002, The Compliance Source, Inc. G P M W D 0 0 8 4 8 3 8 4 4 0 1 1 7 '-O635 anyone else to do, anything affecting the Property (a) that is in viuhttit)~ of any Environmental Law, (b) which creates an Environmental Condition, or (c)which, due to the presel~cc, usc, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. Thc preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities ,~l' l lazardous Substances that are generally recognized to be appropriate to normal residential uses and to maiulc~umce of the' Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) :"b' investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private pa~ t3 involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knm~ ledge, (b) any Environmental Condition, including, but not limited to, any spilling, leaking, discharge, rclc:t~c or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or rele~t~c ~l' a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or ~s notified bx .~, govcnwnental or regulatory authority, or any private party, that any removal or other remediation of any H:t/:n'duus Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial acti~}~ in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmcut:tl ('Ica,rap. NON-UNIFORM COVENANTS. Borrower and Lender furfl~cr covenant and agree as follows: 21. Events of Default; Acceleration; Remedies. The occt. rre.ce of auy one or more of the following events shall, at the election of Lender, constitute an "Event of Der:ml~, ' aud shall entitle Lender to terminate the Agreement and the Account and accelerate the indebtedness st'curt'il hereby: (a) any Borrower engages in fraud or material misrepresentation, whether by action or om/ssi.., i. connection with any phase of the Agreement; (b) Borrower fails to meet the repayment terms set l'.r~h iu the Agreement; or (c) Borrower's action or inaction adversely affects the Property or Lender's sec.ril) i.terest, including, but not limited to, Borrower's actions or omissions that constitute ''Events of Default" ..der the Agreement, or Borrower's failure to perform any material covenants or agreements contained in this ,Scct,rity Instrument. Lender shall give notice to Borrower prior to acceler:Ui.n rollowing Borrower's breach of any covenant or agreement in this Security Instrument (but not prim' to :~cceleration under Section 17 unless Applicable Law provides otherwise). The notice shall specify: (a) ~hc defat, lt; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the .,,~k'e is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or hcrm-e the date specified in the notice may result in acceleration of the sums secured by this Security Instrumc.t :md sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceh, r:ui.. :md the right to bring a court action to assert the non-existence of a default or any other defense or Bm'rower to acceleration and sale. If the default is not cured on or before the date specified in the notice, I,emler at its option may require immediate payment in full of all sums secured by this Security Instrument ~ ilhot.! further demand and may invoke the power of sale and any other remedies permitted by Applicable l..~. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Sccti.n 21, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give not icc ol' iu !e n t to foreclose to Borrower and to the person in possession of the Property, if different, in accorda.cc ~ ith Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section I-h [.ender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicuble Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall he applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable ath.'.eys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons Icg;dl) entitled to it. Wyotning Open-End Mortgage - Secondary Lien MERS Modified THE COMPLIANCE SOURCE, INC.-- Page 13 of 15 ~ao~awY oa/ol www.compliancesource.com ©2002, The Compliance Source, inc. G P M W D 0 0 8 4 8 3 8 4 4 0 I I 7 1 22. Release. Upon request fi-om Borrower and upon p:t)mcm of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower ~hMI pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only ~t' ~hc tee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 23. Waivers. Borrower releases and waives all rights un&'r and by virtue 0f the homestead exemption laws of Wyoming. REQUEST FOR NOTICE OF I)I.:I:AULT AND FORECLOSURE UNDER S LIP I,;RIOR MORTGAGES OR DEEDS OF IRUST Borrower and Lender request the holder of any mortgage, dccd of trust or other encumbrance with a lien which has priority over this Security Instrument to give notice to Lender, at Lender's address set forth on page two of this Security Instrument, of any default under the superior encumbrance and ~ f any sale or other foreclosure action. [Signatures on Following Pa~je] BY SIGNING BELOW, Borrower accepts and agrees to thc terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it Witnesses: Printed Name (Please Complete) Printed Name (Please Complete) (Seal) -Borrower Printed Name 'l~i~da D I~:m'rence -Borrower Printed Name (Seal) -Borrower Printed Name (Seal) -Borrower Printed Name [Space Below This Line For Acknowh;d~jment] Wyoming Open-End Mortgage- Secondary Lien MERS Modified THE COMPLIANCE SOURCE, INC.-- Page 14 of 15 ~SotzwY oa/02 www.complianccsourcc.com ~2002, Thc Compliance Sourcc, [nc G P M W D 0 0 8 4 8 3 8 4 4 0 I 1 7 State of ~ ~F § County of ~ ~§ § Before me the undersigned authority, on this day persc~nally Scott Lawrence and Ltnda D. Lawrence known to me (or proved to me through an identity card or other doct ntcnt) to be the person(s) whose name is subscribed to the foregoing instrument, and acknowledged to me that hc ~hc/thcy executed the same for the purposes and consideration therein expressed. Given under my hand and seal on this ~ day o1' , ~:~ Notary~ublic Printed Name ' My Commissit,n Expires: Wyotning Open-End Mortgage - Secondary Lien MERS Modified THE COMPLIANCE SOURCE, INC. Page 15 of 15 6s0~wY 0~0~ www complianccsource.com ©2002. Thc Con, fiance Source. Inc. G P M W D 0 0 8 4 8 3 8 4 4 0 1 I 7