HomeMy WebLinkAbout905268IRVIN=, ~X 75038
Prepared By:
I~/_RST H01~-~Z. DN CDHPDRATION
35D5 EAST OVERLAND DRIVE
~TOTZN, ID B31~2
RECEIVED 12/14/2004 at4:39 PM
RECEIVING # 905268
BOO~(' 574 PAGE: 81)6
JEANNE WAGNER
£1NCOLh COUNTY CLERK, KEMMERER, WY
[Space.Above ThisLine For Ret ,,~ hng Data]
MORTGA oonT gn
MIN 1000852005173931£3
DF~UINIT/0NS
Words used in multiple sections of fills document are defir~d ~,.:,,~ and other words are defined in Seclions
3, 11, 13, 18, 20 ~nd 21. Certain Inl~s regarding the usage ol v. ~,rds used in [his document are also provkl~d
in Section 16.
(A) 'Uqer,rity In-fume. hr" menn~s ihis dom]me-m, which is (l;~lcd
togelher with all Riders to llds documem.
(B) "Borrower" is
j~-r}ak-r~. ]il. 1211001[ ~
Dec~mher 9th, 1004
Borrower is Ihe mortgagor under ibis Secnrity Instrument
(C) "MERS" is Mortgage F_2ectronic Registration System% hr. ,kIEl,S is a separate corporation that is acting
solely as a nnminee :for l~nder and Lender's snccessors m~(l :~,,t.,~s MERS is the mortgagee under this
Security ln~r,ment. MERS is orgnni?.ed and existing under laws of Delaware, nnd has an ~ddress ~nd
telepshnne nnmher of P.O. Box2026, Flint, MI48501-202.6, tel ~;,>~1 679-MERS.
WYOMING -Single Family- Fannie Mae/Freddie Mac UNIFORM IHSTRUMENT
P~ge I ~f 15 Ini~ais:
VMP MORTGAGE FORMS - (BOO)E,21-729~
WITH MERS F,',m'~ 3051 1/01
II!!1111111111111111111111
CORPORATION
1 .ender iS a P_.DRPORATI01';
organi?~ and existing under th~ ]aws of ~ S~T~ OF KANSAS
l~nder's addressis 4000 Ho.rizDn Way, Z~in~, Texas 75063
(E) "Note" mean.~ .the prnmksory note gi~d by Borrower al,t dated Dec-rorer 9t]a, 3.004
The Note states that Borrower owes Lender
OlqlZ tIUI~RED ~-"O~NTY SIX ~rHouS~ND ~_~IGHT I~UHt)RED & 00/100 Dollars
CI.J.S. $ 176,1500.00 ) plus interest. Borrower h;~. pt-~,nised to pay this debt in eec, flat Periodic
Payments and to pay i. he debt in fi.dl not later than .J. AIirlIARY 2, 2 03 5
(F) "Property" means the property Ilmt is described below u~&'r thc heading "Transfer of Rights in Ihe
Property."
(G) "I.xlan" means Ihe debt evidenced by the Note, plus intel c:,[. any prepayment charges and late charges
due under Ibe Note, and all snmq due under lids Security Instru~,,:.~,t. pl us interest.
(It) "Riders" means all Riders to this Security Insm~menI t},:il :ti'c executed by Borrower. The following
Riders are to be executed by Borrower [check box as applicabtcl
1'--'] Adjustable Rate Rider [--"] Condominium Rider [ } Second Home Rider
l--] Balloon Rider ~] Planned Unit Development Rldcr [] 1-4 Family Rider
]---} VA Rider [---] Biweekly Payment Rider ~ Other(s) [specify]
(I) "Applleahle Law" means all controlling, applicable L'dc~:tl, state 'and local statutes, re~mflations,
ordinances and administrative niles and orders (,that have I4c ~llcct of law) as well as all applicable firmt,
non-appealable judicial opinions.
(J) "Comm, mlty Association Du~s, Fees, and Ass~rnents" l~icans ali dues, fees, asses~ment~ and other
charges that are imposed on Borrower or llm Property bx ;t cmldon~nium association, homeowners
association or ~imilar organi?ation.
(K) "Electronic Funds Tran~er" means any transfer of fund> ,~tl,~:r than a transaction originamd by check,
drafi, or similar paper instrument, which is initiated Ihrongh :t~ dcctrmfic terminal, telephonic instrument,
computer, or magnetic Iapc so as to order, instruct, or authori..'<. :~ lhmncial institution to debit or ~redit an
account. Such term includes, but is not limited lo, point ,,t sclc transfers, autommed teller machine
llangacfioas, transfews initiated by telephone, wire transfers, aim :~ut~lnated clearinghnuse transfers.
(L) ".Esr:row Items" means those items Ihat are described in $c~ti,m 3.
(m) "_Misevllan~ous Proceeds" mean~ any cnmpen~afion, setflc~wHt, award of damageS, or proceeds paid by
any ltdrd party (other than insurance proceeds paid under tt,c ct~veragcs described in Sec.tion 5) for: (i)
damage to, or destruction of, lira Property; (ii) cnndemnation or ~ ,[i tcr taking of all or any tmrI of Ire Property;
(iii) conveyance in lieu of condemnation; or (iv) mi~represent:tt~,~ of, or omissions as to, Ire value and/or
c0nditinn of the Property.
(N) "Mortgage InSurance" mean~ insurance protecting Lendc~ ~t~ainst the nonpayment of, or default on, Ibc
(O) "Periodic Payn~nt" mesas ire re~mflarly scheduled nmt}t~l~t due Ibr (i) principal and interest under ibc
Note, plus (ii) any amnnntg under Section 3 of lids Security Inst~'umcnt.
(P) "REgPA" means lira Real _Estate Settlement Procedures Act ti2 U.S.C. Section 2601 et seq.) and its
implementing l'e~Hation. R~mHahon X (24 C.F.R. Part 3500), ~i:, th%' might be amended from .time to time,
or any addifinnal or suc~ssor le~glntion or re~mdation ltmt go; c~ ~, thc stone subject matter. As used in Ihis
Security Instrnment, "RESPA" refers to all requirements and ~cstrictions that are imposed in regard to a
',federally relamd nmrtgsge loan" even ff Ihe i.,oan does not quit]iP; as a "federally related mortgage loan"
under RESPA.
051739316
Inflials:
Page~.~f ~s F,',rm3~51 1101
0808
(00 "Successor in Interest of Borrower" means any party fl~,i ~:~ t',tken title to the Property, whelher ornot
that party has assumed Borrower's obligations nnder the Note :t~,,~ , ,r tl~s Security Instrument.
TRANSFER OF RIGHTS IN THE PROPERTY
Thi`q Se~mS. ty Instrmnent secures to Lender: 0) the repayment .,, 1,~- Loan, and all renewals, axten`qions and
lnodifications of the Note; and (ii) the. performance of Bom ',,, :~ . cove~mnts and agr~.mellts under this
Security Instrnment and the. Note. For this pm'pose, Borrox~, tl,,cs hereby mortgage, gram and convey
to MF_,RS (solely as nnmince for lmnder and Lender's su~,[',s~rs and assigns) and to the s~K:cessors
and as.qiLm`q of MERS, with power of .qala, thc- t,~lh~wing described property located
ill the County of L/ncoln :
[type of Record~g lurbdkfion] ',;,m~ o f Recorah~g Jurisd~don]
LOT 188 DF NORDIC RANF'W~..R DIV-/~ION NO. 13, LINCOLN C013NT~,
WSrDMTN~ .AB DESC~TR~Tn DN T]tE DFFTC~T~?. PLAT THEREOF.
Parcel]]) Number: ~nnty: 36192330017100 City:
.221 ~,~T,T.TJ~ ~L v~
("~o~'ty ~ddr~ss"):
which currently has ihe address of
[Street]
Wyoming B311B [Zip Code]
TOC_m-WTH~R WITH all the improvement.q now or hereah~.~ ~'~'c~.'tcd on the property, and all easement.q,
appurtenances, and fixlm'es now or hereafter a part of the prot~ t}. ..\Il replacements and additions `qhall also
be covered by Ikis Security Instalment. All of the foregnim2 i~ ~'l~'n'rd to in this Secnn'ty Instalment as Ihe
',Property."Barrower understands and agrt~s that MERS hol(!~, ,~l5, legal tide to the interests granted by
Borrower in Ihis Secnrity Insl~ment, but, if necessary to compl:, xx iris law or custom, MERS (as nnminee for
l~nder and l~nder's successors and as`qiLmq) has the right: to c'.~'lcisc any or all of those interests, inclnding,
but not limited to, ihe right to fare2Jose and sell the Propcrt.x: ,~d to take any action required of Lender
inclnding, bat not limited to, relea.qing and canceling this Secnritx I~,~trument.
BORR0Wt~ COVENANTS that BOlX'OWeX is lawfillly y,.i~.d of die estate hereby conveyed and has
the. right to mnrtgage, grant and convey the Property and th,t tl~c Property is nnencnmhered, except for
enm~mhranc~s of record. Borrower warrant`q and will defend ?c~,cmlly the title to the Property against all
claim.q and demand% subject to any e~ncnmhranc, eS of record.
THIS SECURITY INSTRUMENT comhine, s l.laifoml c~}xc~t:tllt.$ tbr national use and nan-unifnrm
C0venant~ wittt limited variations by jurisdiction to constitute ;t kmilk)nn security instalment covering real
property.
0051739315
P~ge 3 of 15
]:om 31351 1/01
UNIFORM COVENANTS. Borrower and J..,ender coven;ml ;ti ~(i agree as follows:
1. Payment of Prirmipal, Interest, Escrow Item% iq'cl~a3ment Charges, and l.ate Charges.
Borrower .qhall pay when due the principal of, and interest ~t~ d~c debt evidenced by the Note and any
prepayment charges and ]ate charges due under the. Note. Borl ,,~cr ~]lal] also. pay :fi]nd~ for Escrow lmm~
purslmnt to Section 3. Payment~ due under Ih~ Note and fld, Security lnstrnment .~hall be made in U.S.
chimney. However, ffany check or other insmmmm received h~ I.c~dcr as payment under the Note or this
Security Instrnment is returned to Lender unpaid, lender rna3 ~c.,ltdr~ that any or all subsequent payment~
due raider the Note and Ibis Security Inst.mment be made in o~. (.r more of the following farms, as selected
by Lender: (a) ca~h; Co) money order; (c) certified check, baal cl~cck, treasurer's check or ca.qhier's check,
provided any such check is drawn upon an institution who~c dvl)osits are insured by a/ederal agency,
instrumen~lity, or entity; or (d) Electronic Funds Transfer.
Payment~ are deemed received by lender when received ,t fl,c h)cation designamd in the Note or at
such other location as may be designated by Lender in accord.it, t. with file notice provisions/n Section 15.
Lender may remm any payment or parti~ payment ff the payn ~ct,l ,~i' partial paymenls are insufficient to bring
lhe Loan cra-rent. Lender may accept any payment or partial p:~) !~[.llt insufficient to bring the Loan carrem,
without waiver of any right~ hereunder or prejudice to its rights ,., i'vfusc such payment or partial payment~ in
Ihe fim~re, but Lender is not obligated to apply such payments ',~t fi ,~, time such payments are accepted. If each
Periodic Payment is applied as of its scheduled due date, flicl~ t clldcr need not pay imerest on unapphed
fi~nd~. Lender may hold such unapplied fi~nds until Borrower ~t~:~[:cs payment to bring Ihe Loan cra'rent. If
Borrower does not to so within a reasonable period of time, kc~idvr .shall either apply srtch fi~nds or return
them to Borrower. If not applied earlier, such fi~nd~ will be apl)li~.d t. thc outstanding principal balance under
Ihe Note immediately prior to foreclosure. No offset or claim x,.l~ich Borrower might have now or in the.
fim~re against Iender ~hall relieve Borrower from making pay ~c'lll~ due under Ihe Note and thi,q Security
Instrument or performing lhg covennnt~ and i:':':':':':':':':q~eements secured [)', tl~is Security Instrument.
_2. Applleatlon of Payments 'or Proceeds. Except as othcl v, i,c dc.scribed in this Section 2, all payment.q
accepted and applied by I~nderr ~hall be applied in the followil~:, ~, der of priority: (a) interest due nnder Ihe
Note; Co) principal due under the. Note; (c) amonnt~ due nndcr &L'cti(m 3. Such payments ~qhall be applied to
each Periodic Payment in Ihe order in which it became due. A.', lt,,tilting amount.q ,qhall be applied first to
late charges, second to any other amaunt.q due nnder this Securit,, I'~ ~sti-ument, 'and then to reduce the principal
balance oflhe Note.
If Lender receives a payment from Bon'ower for a dcqi~,i,c:.t Periodic Payment which includes a
sufficient amaunt to pay any late charge due, ihe payment may I,~ :q)plicd to the delino?ent payment and file
late charge. If more than one Periodic Payment is outstanding, 1,:~ idcr may apply any payment received from
Borrower to the repayment of the Periodic Payments fi, and t. Crc extent that, each payment Call be paid in
fi. ill. To ~ extent that any excess exists after the payment i.~ ,l)tfli~d to d~e full payment of one or more
Periodic. Payments, such excess may be applied to any late £.!l:tl 7c5. due. Vohmtary prepayments .~hall be
applied first to any prepayment charges and then as described in !1 ,, Note.
Any application of payments, insurance proceeds, or Misccll,,cous Proceeds to principal due nnder the
Note ~hall not extend or postpone the due date, or change the kill, l!lltt, i if ~le Periodic Payment~q.
3. Funds for Escrow Items. Borrower ~qhall pay to Lelldc-i , .~ tltc day Periodic Paymemq are dlle under
ihe Note, nnfil file Note is paid in fifll, a sm (the "Fundg") tu l.',.,idc for payment of amonnts due for: (a)
taxes and asses.qments and other items which can ,attain priorh?, twcr this Security Ins~ment as a lien or
encumbrance on the Property; (b) lea.qehold payments or grom-,l icilt.~ on the Property, ffany; (c) premiums
for any and ail insurance required by Lender under Section 5; ,t,l ltl) Mortgage Insurance premiums, finny,
or any snm~ payable by Borrower to l.ender in lieu of the t),31~c,t of Mortgage Insurance premiums in
accordance with the provisions of Section 10. These items arc c.] Icc] "Escrow Items. "Alt origination or at any
time dm-h~ Ihe term of the Loan, Lender may require th,~ ('t~mmunity Association Dues, Fees, and
Assessments, if any, be escrowed by Borrower. and such dues, Iccp, a,ci assessments ,qhall be anEscrow Item.
Borrower .qhall promptly fi~rni.qh to Lender all notices of mnut. d~ t{~ bc paid under this Section. Borrower
~hall pay l~nder the Fnndq for Escrow Item.q unless Lender w,I x'c, llorrower's obligation to pay the Fnndq
for any or all Escrow ltem.q, lender may waive Borrower's obliy.titm to pay to Lender Funds for any or all
Escrow ltem~ at any time. Any suc. h waiver may only be in xv~t~t,2, lr~ the event of sm:h waiver, Borrower
.qhall pay directly, when and where payable, the amoun[q duc~ i,,~ ,lty Escrow Items :for which payment of
~)~-6A(WY) (noo~) P~4 ~ ~-~
Form 3051 1101
090526S
0810
F]]nd.~ has been waived by Lender and, if l.ender requires, sh,~ll Ikirnish to Lender receipts evidencing such
payment within such time period as Lender may require. Borr~,,,,. ~_.~ ~ obligation to make such payments and
to provide receipts nhall £or all pm-poses be deemed to be a cov~ ,,,~ ;lad agreemem contained in this Security
lnStD]ment, as the ?hra.~e "covenant and agreement" is used ~ ',cotton 9. If Borrower is obligated to pay
Escrow l~ms directly, pm'snant ~o a waiver, and Borrower fail, ;,. p% the amount due for an Escrow Item,
I.ender may exercise its riEht~ under Section 9 and pay such ;,~, ~u~; and Borrower .~hall then be obligated
under Section 9 to repay to l~.nder any such amonm. Lender n~:,,, rcvok~ the waiver as to any orall Escrow
Items at any time by a notice given in accordance with Section ~ ;~td. upon such revocation, Borrower shall
pay to Lender ail Fqmd% and in suchamonnt% that are then req .... tincicr this Section3.
Lender may, at any time, collect and hold F, nnd~ in an ;~ ~, ~t~t ~ ;l ~ s ufficient to permit Iender ~0 apply
the l:hmd~ at the time specified under RESPA, and (b) not I,, "..cuud the nhaximnra amonnt a lender can
require nnder RR..qPA. lender .~hall estinaate the amonm of I :~d~ duc on the basis of cra-rem data and
~:e,asanahle estimates of expenditures of future Escrow Items or ..... t~ ~c m accordance with Applicable Law.
'l]he Fnnd~ shall he held in aninsfiiution whose deposits ;t~, ~,~urcd by a federal agency, instrumentality,
or entity (ineludin~ lender, if_Lender is an institution whose &. -,,, ;irc so insured) or in any Federal Hame
Loan Bank lender .~hall apply the Fnnds to pay the Escrow ~,.~,, n~) later than the time specified under
I~E.qPA. lender .ehall not charge Borrower for holdin~ and .... ~xl~l~, the Funds, annually analyzin~ the
escrow acconut, or verifying the Escrow Items, unless Lan&. ,~;t.~ .~ Borrower interest on the Fnnd~ and
Applicahl~ Law permit~ Lender to make such a charge. Unless ::1 ,t.~rccmcnt is made in writinE or Applicable
Law requires interest W be paid on the Funds, Lender ehall n~, ~,.- ¥~quired to pay Borrower any interest or
~qa-ning.~ on th~ ~Famd~. Borrower and Lender can agree in wriu~,?. ~,,wcver, that interest .~hall be paid on the
Fund~. l~nfler .ehall give ~o Borrower, without charge, an anl~,~ accounnng of the Funds as required by
RE.qPA.
If there is a surplus of Fund~ held in escrow, as defi~,.,, t~ndcr RESPA, l~nder .~hall account ~o
Borrower for the excess flmd~ in accordance with ~E.qPA. If tl,,'~: i~ :t shortage of Fnnd~ bald in escrow, as
defined under RESPA, lender .~hall notify Borrower as req~..~ bx RESPA, and Borrower .~hall pay Io
lender the amonnt necessary w make up the ~hartage in ac~i ,,.,~,~ with RESPA, but in no more than 12
monthly payment,~. If there is a deficiency of Fqmd~ held in ~, ~,.~. :t.~ defined nnder RESPA, Iender ~hall
notify Borrower as required by RESPA, and Borrower .~hal[ P;L ~,' k~nder the amount necessary to make lip
the deficiency in accordance with RESPA, but inno more thm~ 12 ...... khly payments.
Upon paymen£ in full of all sums secured by thi.~ Secnrit~ i~,~irumcnt, Lender ~hall promptly refund.to
Borrower any Fnnde held by lender.
4. Charges; l,lon~. Bon:ower .~hall pay all naxes, ~,~..,~cnts, charges, fines, and impositions
attlfibntahle to the Property which can attain priority over thi~ 5~.~'uritv lnstrnrnent, leasehold payments or
ground rents on the Property, ffany, and Cammunity Assnciati¢ ,,, , ~u~, Fees, and Asses.~ment.% if any. To the
extent that these items are Escrow Items, Borrower .~hall pay th~. tl~c rammer provided in Section 3.
Borrower ~hall prampfly discharge any lien which has I~! i,.d'lt5 over this Secm-ity lnstl~rmem nnless
Borrower: (a) agrees in writin~ ~o the paymen~ of the obligation ~-c Lll-cd by the lien in a manner acceptable to
I.ender, but only so long as Borrower is perfarmin~o such agrrcl~ ! d. ih) contests the lien in good faith by. or
defend~ against enforcemem of the lienin, legal proceedings wh ~,'1~ n Lender's opinion operate to prevent the
e, nforcement of the lien while those proceedin,qs are pendin~o, b~l ,,l~lv until such proceedings are cnnclnded;
or (c) secures from the holder of the lien an agreement satisfacl,,r~ t~) Lender snbordinatin~ the lien to this
Secltrity InstD~menI. If Lender detea_-mines that any pan of thc Iq, p~q'ty is subject to a lien which can atmirt
priority over ~ Security Ins~ment, Lender may give Born~,.,,~' ,, nouce identifying the lien Within 10
Form 3051 1101
days of the data on which that notice is given, Borrower sh;tll .,:di.~fy 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 ft~ ;~ ~'c:tl estate tax verification and/or reporti~
service used by Iendcr in connection with dxis l_mn
5. Property Insurance. Borrower shall keep the improvt'~,~,.~,~ liow existing or hereafter erected on Ihe
Property insured against loss by fire, ha?urals included within [!~: term "extended coverage," and any other
ha?orals including, but not limited to, earthquakes and flood~ ;,,; which Lender requires insurance. This
insurance ~hall be maintained in the. amounts (including deduc!t[,}c levels) and for the periods that Lender
requires. What Len&r requires pursuant to the preceding sentc~, ~.:, t.'~tlt change during the term of the Loan.
The insurance carrier providing the iusm'ance .qhall be r_.hosc~, I,x Borrower subject to Lender's right to
di.qapprove Borrower's choice, which right .qhall not be c:....~i~ccl u~treasonably. Lender may require
Borrower to pay, in con~ction with this Loan, either: (a) a t,[t;- NIHc' charge for flood zone determination,
certification and lxacking services; or CD) a one,time charge ~,,r' ll,~(~d zone determination and certification
services and subsequent charges each. time remappings or si~,i}:~r changes occur which reasonahly might
affect such detennination or certification. Borrower ,qhall als~ h,. responsible for the payment of any fees
imposed by the Federal Emergency Management Agency in ~,,~'tion with the review of any flood zone
determination resulting from an objection by Borrower.
If Borrower fails to maintain any of the coverages dc>~-il,cd above, Lender may obtain insurance
coverage, at !ender's option and Borrower's expense. Lchd[.~ i~ under no obligation to purchase any
trm.rticnlar type or amount of cove. rage. Therefore, such cover;q_,~' ,Itztll cover Lender, but might or might not
protect Borrower, Borrower's equity in the Property, or Ihe co~,l,.~ ,ts {~f die Property, against any risk, hazard
or liahility and might provid~ greater or lesser coverage tl~ztli was previously in effect. Borrower
acknowledges that Ihe cost of the insurance coverage so obt::i~.d might significantly exceed the cost of
insurance that Borrower could have obtained. Any amonnts di>i~-~cd by Lender under Ihis Section 5
become additional debt of BorrOwer secured by this Secmity hi,ii !iii ~cltt. These amonnts ~hall bear interest at
Ihe Note rate from ihe date of disbursement and ~hall be payable. '..; i tit .such interest, upon notice from Lender
to Borrower requesting payment.
All insurarkce policies required by Lender and renewals ~,1 ,uch policies ~hall be subject to Lender's
right to di.qapprove such policies, shall include a standard ~,,;t.,_,~tgc clause, and ~hall name Lender as
moxlgngee _and/or as an additional loss payee, l.ender shall h;t', ~. tt~- right to hold Ihe policies and renewal
certificates. If I~nder requires, Borrower .qhall promptly give I,, I.citd~r 'all receipts of paid premiums and
renewal notices. If Borrower obtain.q any form of insurance ct~\ [.I ;t~c, Ilar otherwise required by Lender, for
damage to, or destruction of, the Property, mmh policy .qhall il[..[udc a stamlard mortgage clause and shall
name Lender .as .mortgagee and/or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to [1~: i~surance carrier and Lender. Lender may
make .proof of loss if not made promptly by Borrower. Unlc,~ l.cndcr and Borrower otherwise agree in
writing, any iusnrance proceeds, whether or not the nnderlyil~k, i~ktr;tnce was required by lender, ahal! be
applied to restoration or xepair of Ihe Property, if Ihe res£or:ttl~i~ or repair is economically feasible and
Lender's ser. zn-ity is not lessened. During such repair and re.~t,,~':~r~ period, Lender .~hall have the right to
hnld such insurance, proceeds ~ lender has had an opportm~iti., t, ~ i ltspcct such Property to ensure the work
has been cornpleted to I~ender's .qati~faction, provided that st~,.l~ i~sp~ction shall be nndertaker~ promptly.
lender may disburse proceeds for the repairs and restoration i~ :~ ~inglc payment or in a series of progress
taayment.q as ihe work is completed. Unless an agreement is ~:~d,.' in writing or Applicable Law requires
interest to be paid on such insurance proceeds, le. nder shall Ilt~t [~c' required to pay Borrower any interest or
earnings on such proceeds. Fees for public adjusters, or other []~iid p;trti~s, retained by Borrower ~hall not be
paid out of the insurance proceeds and .qhall be the sole obligati~ }~: t~t' Borrower. If the restoration or repair is
nat ~:cnnnmically feasible or l~nder's security would be lesscl~c.ti tlw insurance proceeds shall be applied Io
Initials: ~
(~-~A(WY) (~) e,~.ao. ,s ~:,.rm~51 1/01
ihe ~nms secured by ~ Secud~ Insm]mem, whether or ~,,,~ ~,cl~ duc, with th~ excess, ff any, paid to
Borrower. ~mh insurance proceeds .qhall beappUedintbe ordc ,~,,vidcd tbr in Section2.
If Borrower abandons the Properly, l~.nder may. file., nc?~, ~:,,¢ aim settle any availahle insurance claim
and related matters. If Borrower does not respond within 30 d,,x, t~ ,t notice from l~nder that the insurance
carrier has offered to setde a claim, Ihen l~nder may ne. gott~th' :, M ~uttle the claim. The 30-day pednd will
begin when the notice .is given. In either evem, or if Lend~.~ ~, uircs tile Property under Section 22 or
otherwise, Borrower hereby assign.q to Lender (a) Borrower'.~ ..... ~, tt~ any insurance proceeds in an amoum
:not to exceed the amount~ mapaid under the Note or this Securit., ,,~[ rument, and (b) any other of Borrower's
Iight.q (other than the right ro any refund of onearned pre~ t);lid by Borrower) nnder all insurance
policies covering the Property, insofar as such right~ are appl,~ .~;,1~~ t~ rhe coverage of Ibc Properly. Lender
may nsc thc insurance tlrocceds either ~o z-epair or resll)re l. ht' I'~ ~}CI'tV C}I' [0 pay amnunlS lmpaid nnder
Note or this Security Instrnment, whether or ~t then due.
t~. Occupancy. Borrower .qhall occupy, establi.qh, and usc ~ - Pn~perty as Borrower's prir~pal re.qidence
within 60 days after Ibc exectztion of Ikis Security Instalment ..... ~h:dl coinfinue to occupy ihe Property as
Bm-rower's tzrincipal residence for at least one year otter fl~c d:,tc m' occupancy, unless J_,ender otherwise
itgrees in writing, which cansezl[ .qhall not be lmre~asanahly ~,. [~c'ld. or unless extenuating circumstances
exist which are beyond Borrower's control.
7. Preservatlnn, Maintonaneo and Protection of the I'r~lwrty; Inspections. Borrower shall not
destroy, damage or impair the Property, allow the Property t~ ~.'h'rl{~rate or commit waste on the Property.
Whether or not Borrower is residing in the Property, Borrowrr maintain the Property in order to prevent
Ibe Property frnm deterinrating or decrea.qing in value due to h~ ~ ~dition. Unless iris determined pursuant
Section 5 that re~nair or restoration is nat econnmical!y feasible. ~;~ ,~ mxver shall promptly repair the Property if
damaged to avoid fm!.her deterinration or damage. If JJ3sulatrt,~' of condenmation proceeds are paid in
connection with damage to, or the taking of, the Property, [~,,t'~,wcr sh~l be respon,qihle for repairing or
restoring ihe Property only if lender has relea.qed proceeds fi~r ,~,, ~ purposes. Lender may disburse proceeds
gar the repairs and restoration in a .qingle payment or in a ~c.~ rcs of progress paymem.q as Ihe work is
cnmpleted. If the. insurance or cnndemnntion proceeds are ~, ~[mic~cnt to repair or restore ihe Property,
Borrower is ~ot relieved of Borrower's obligation for Ibe compt~.t ~, ~ rd' such repair or restoration.
Lender or its agent may make reasnnahle entries np~l ,tied mspecnons of the Properly. If it has
Icasonal:~ cause, l.ender may inspect the interior of the. imt)~,>,. ,'~Hcl~t,s on file Property. Lender .qhall give
Borrower notice at Ibe time of or tm'or to szmh an interior inspc~i~,~ .,pccifying such reasona, ble eau
8. Borrower's I.nan Appllemlon. Borrower .qhall be in d~-l~uh if, during the Loan application process,
Borrower or any persons or entities acting at Ibe direction oI l~,,~t~m'cr or with Borrower's knowledge or
consent gave materially false, mideading, or inaccurate infor~,:dh)~l {}r statements to Lender (or failed to
provide. I~ender with material information) in cnnnection wifl~ ti~~ l~t}:lll. Material representations include, but
&re not limited to, representations concerning Borrower's occttl~:~ ~,.y of the Properly as Borrower's principal
xesidence.
9. Protection at'Lender's Interest in the Property and 14ights Under this Security Instrnmont. If
(a) Borrower fail,q to perfol:m the. covenant~ and agreements col ~t:~lt~xl in this Security Instrument, (b) Ibere is
it legal proceeding Ihat might significantly affect l~.nder's i~t,-i ~'~,t in the Property nnd/or right.q nnfler this
Secm-ity InSt~ment each as a proceeding in hanlcruptcy, l}i~d},itc-, for condemnation or forfeiture, far
¢_m.forcement of a lien which may attain priority over this 5c~'urity Instrument or to enforce laws or
re~mflations), or (c) Borrower has abandoned Ille Property, tl~.~ Lcrlder may do _and pay for whatever is
reasnnahle or appropriate, to protect I~nder's interest in tltc. l'n~perty and right~ nnder this SecmSty
Instrument, inc. lnding protecting and/or asses.qing llze value ol tl~c Property, and securing and/or ~:epairing
Ihe Property. Lender's actions can include, but &re not limited t~ ~;tl paying any sams secured by a lien which
tins priority over Ibis Security Instrumem; (b) appearing!, itt court; and (c) paying reasonable
(~}~-SA(WY) (~) Pa~7 ~ ~s
Form 3051 1101
0813
,~orn~ys' f~s m protect its interest in tlm Propmy ~nd/or n,~, a(tcr d'tis Sec~ty ~m~me~,
sec~ed pos~ ~a b~n~pmy proceeding. See~ ~ Pr., :.~ includes, but
~o~y ~ m~ke m~S, ah~n~e lo~, r~nl~ or b~d uI ~,,,~rs and widows, ~ w~r ff~ p~es,
dimin~te bnildin~ or other co~ vio~ or d~ngerous c,,'.,i~loi,>, and ~ve ntili~s ~d ~ or off.
~o-gh l_ender my take ~fi~ ~er ~ Section 9, Leld:~ ,l,~c~ 11o[ have [o do so and ~ not nnder ~y
~ or obligati~ m do so. It ~ ~d ~t ~nder ~ur: .., liability for ~t tn~ng ~y or
authn~d under ~ Section 9.
~y mo~ ~b~sed by Lender nnder ~ Secti{~ .~ ~hall b~come additio~ ~bt of Bo~ower
~c~ed by thk S~ ~ent, ~se mo~ ghall I,:-, iacrcst at ~e No~ rate ffm ~ ~ of
~b~sement and ghall be pay~, ~ s~ ~rest, up, t~cc from Lender to Bo~ower req~sting
pa~.
ff ~ S~ty ~m~ment ~ on a league, Bo~ower > ..... comply wi~ ~ ~ prov~ of ~ lea~e.
ffB~o~r ~q~es ~ title to ~ ~openy, ~ l~old ;,~, t}t~ fcc title ghall ~t ~rge unless ~r
10. Mo~ ~ance. ff L~r req~ed Mo~agc I ,:,~atncc as a conditi~ of making ~ Lo~,
B~ower ghnll pay ~ preminms req~ed ~ maintain ~ ,Nh,r t~,~ lnsur~e ~ e~ct. fi, f~ ~y re, on,
~ M~gage ~ coyote req~ed by ~r ce~cs , [~c available ~m ~ ~ngnge ~er ~t
pmviomly proved s~ ~e ~ Bo~ow~ w~ rct~ ,'~ t~ make sep~ly ~s~nnted pa~enrg
towed ~ preminm~ for Mo~ge ~, B~ower sktl ,,,5 th= prem~ms req~ed ro ob~ cover~e
s~stnntinlly eqffivnlent to ~ Mo~ge ~ previou~l~ h, c-fleet, at a cost s~stantially eq~vatent to
~ cost to Bo~o~r of ~ Movgage ~m previousl5 ~t effect, from ~ altemam m~gage ~er
se~c~d by ~r. ff substantially eqffivalent Mo~e ~st~t ,~ ~, coverage is ~t available, Bo~o~r ~hall
cnnfinue to pay to Lender ~ amn~ of~ sep~ly ~Sigli, d::d payments ~t were ~ when ~ ~uran~
coyote ~d ~ be ~ effect, l.ender ~ ~cept. me ~d ~ ,.~i~ these payments ~ a ~mrefi~ndahle loss
rme~e ~ of Mo~gage ~e. Such loss rescue ~11 1,~. ~,,~-rcfundable, ~twith~tanding ~ ~t ~t
~ ~ ~ ultimately p~ ~ ~, and I,ender ghall ~t be rcct~ ~'(t to pay Bo~ower ~y interest or eami~s
~ s~ loss rescue. ~ ~no 1o~ req~e loss rescrx ,' 1':~3 ~,c~ts if Mo~e ~m coyote 0n
~ ~ and f~ ~ pmod ~t ~nder req~es) proved I~., ~ i,surcr selecmd by ~nder again becnmes
availab~, ~ ob~ined, ~ Iender req~es sep~ly ~sign;~t~.d ~>,~ytncnts towed ~ preminms for Mo~gage
~. ff l~nder req~ M~ge ~ ~ a co~d~t~,,~ of m~ ~ ~ and B~ow~ w~
req~ed to make sexy ~si~nted ~ towmd thc' l~r~'~llLlmS for M~gage ~e, Bo~o~
~hall pay ~ ~eminm~ req~d ~ maintain Mo~e ~urat,.~ c. i~ cftkt, or to prov~ a~n-refi~ndnhle loss
rescue, ~ Lender's req~ement for MoVgage ~e r~:~:~ i~ accord~e ~ ~y ~ ~ment
ber~ Bo~o~r and ~r providing for s~ te~innti~ ~,~ ulitil tem~fion is req~ed by App~
~w. Nothing ~ S~fi~ 10 ~ec~ B~ow~'s ohligntiol~ ~,, i~;t3 ilitcr~st at ~ r~ proved ~ ~ Nom.
Mo~ge ~e reimh~ses Lender (or ~y ~ty tl,:,t i~c~rchascs file No~) for ~nin losses it my
~ ffBo=ow~ d~s ~t repay ~ ~ ~d. Bo~owct ~:, t~ot a party to ~ Movgage ~e.
Mo~age ~s evnl,ate ~ir to~ h~k on ~1 such i~-,L~r;tZtC~ in force ~m time to time, nnd ~y
ent~o ~ment~ ~ o~r p~s ~t ~hare or mo~' tl.~'~ ~ ri~k, or reduce losses. ~se ~r~ments
~ ~ and cnnditi~ ~t ~e ~to~ to ~ m~gc i~,,t~rc~r and ~e o~r p~y (or p~s) to ~se
~ment~. ~se ~ments ~y req~e ~ m~age ~ur~ ~' ~,~ make pay~ ~ ~y so~ of ~ndg
~t ~ mo~gage ~er my ~ve availa~ (which ~y i~:lt,tc~ funds ob~d
~eminm~).
~ a re~t of ~se ~ments, Iender, ~y p~cha~er ,~I ti ~c, Note, ~o~r ~r, ~y reindeer,
o~r entiW, or ~y affiliate of~y of ~ forego~, my rcc~.~', ~. (directly or indirectly) ~o~ ~t ~ve
ffm (or might ~ eha~d ~) a poffion ofBo~o~r'~ ~:~2.. ~[~c~ts tbr Mo~e ~m, ~ exchange
for ~ ~m~ ~ mortgage ~er's ~k, or redc~, ~tt, I~sscs. If su~ ~mem proves ~t
affiliam of lender takes a ~hare of ~ ~er's ~ exd,,t:~? for a s~e of
(a) ~y gueh ~ment~ wffi ~t ~t'm ~e ~ouHt~ that Borrower ha~ ~d to ~y for
Mo~e Inmrm~ or ~y o~hvr t~ of ~e ~. St~{'l~ agreements w~l not incr~e ~e ~o~
B~ower ~ owe for~~ ~m, ~ ~y will n.~ caitle Borrower to ~y r~und,
~-SA(WY) (~.~) e~g~ ~ of ~
Form 31)51 1/01
(b) Any such agree~mems will not affect the rights B.r~'.we,' has - if any - with respect to the
Mortgage Insurance under the I~lameowners Protectima Act .f 199S or any other law. These ri~oht~ may
include the right to re~ive certain disclosures, to request .,M obtain cancellation of the Mortgage
Insurance, to have the M~rt~,~a~e Insurancv terminated autom~,~t ic",dly, and/or to receive a refund of any
lVlortgage Insurance premiums that were unearned at the tin ~t, ~4' such cancellation or termination.
11. Aggi~marnent of Miscellaneolls Proceeds; Forfeittlrt.. All Miscellane0Lls t:~-oceeds are hereby
assiLmed to and shnll be paid to Lender.
If the Property is damaged, such M~cellaneotls Proceeds ~1~:~]1 [)c applied to restoration or repair of the
Property, if the restoration or repair is economically feasible ',t~,,I LclMcr's security is ~t lessened. D~ring
such repair and restoration period, Lender shall have Lhe rigl~l t~ ]lold such Miscellaneolls Proceeds until
Lender has had an oppo~'mnity io Lqspect slw. h Property to el~!~ ~. tl~<· work has been completed to lender's
satisfaction, provided that such inspection shall be undertakell i~l,,~q~tly. Lender may pay for Ihe repairs and
restoration in a single disbLtrsement or in a scl-i_es of progress p;~) ~Cl~tS as the work is cnm?eted. Ullless
agreement is made in writing or _&pplicable l.aw requires Lnterc~t i,~ tic paid on such Miscellaneous Proceeds,
Lender shall not be required to pay Borrower any int. erest or c:~'~,~ ~!~ ~ ol~ such Miscellaneous Proceeds. If the
restoration or repair is not economically feasihle or Lander's ~c-~ tiIit)' would be lessened, the M~.scellaneolas
Pl'oceeds shall be applied to ~ sums secured by this Security li~;,tt-uiaxcnt, wl~ether oraat ~hen due, w~th the
excess, Lt' any, paid to Borrower. Such ]Vfiscellaneous Proceed> ..]~;tll b~ applied in the order provided for in
Section 2.
].n the event ora total talcing, destruction, or loss Lq value ,,~ th~ Property, the ~tVL[scellaneous Proceeds
shall be applied to the sums secured by this Security Instrumch! .,~ I~ctll~r or not then due, with the excess, if
any, paid to Borrower.
la the event of a partial talcing, destracticm, or loss in v.,,l~. ,d' ~hc Property in which the ~ market
vah!e of .thc Property immediately before the partial talcing, dcsll Li~ tioli, or loss Lq valtte .is equal to or greater
than Lhe amoLmt of the sums secured by this Secl.tdty lnstr~l~c.iit mm~cdiately before the partial talcing,
destrtlctiol:l, or loss in vah~e, nnless Borrower and Lender otherv, i:<- ;farce in writing, the sums secured by
Se£l.lrity ]xISITl~mant shall be reduced by the nmatlIlt of tJl~' .~lisc'~llan~ous Proceeds multiplied by the
£ctllowLqg ~actio~: (a) the. total amotlnt 0fthe Sums secured Lqth:~.dhttcly bclbre the partial takin~o, destruction,
or loss m vallle divided by (b) Ihe f~fir market value of the Pi~l~cl'ty ii~ediately before the pall. icl talcing,
destrtlction, or loss ill value. Ally balance shall be paid to BorTov, ~'
].n t. he event ora pal-rial talcing, desto.teflon, or loss Lq v;~[!~ ~' the Property in which the ~ market
vahie of Ihe Property immediately before the partial taking, dc>tr'uctioll, or loss in valse _iS leSS than the
am0Llnt of ~ sums secured immediately before the partial l:~t :~. destruction, or loss in vah~e, unless
Borrower and Lender otherwise agree in writing, the Mis£elht~;c.~,tl.~ Proceeds shall be applied to the sams
secured by this Security ].I1Stln~ment whether or llDt the sums arc tl ~c-Is
If the Property is abandoned by Borrower, or if, after noti. ~. hx Lender to Borrower that the Opposing
Party (as defined in the aext sentence) offers to make an award ~,~ ~cttlc at clahn for damages, Borrower fails
to respond to l.~.nder within 30 days after :the data the l~ticc i~ ?yell, Lender is authorLzed lo collect and
apply the M_[scellaneotls Proceeds either to restoration or ~:epair, ~' thu Property or to the sums secured by this
Secafity ]nst~ment, whP-th~r or llot then dna. "Opposing Part~" ~c;ms the third party that owes Borrower
]V'fiscellaneous Proceeds or the party against whom Borrower I~:,, :, ri,~ht of action in regard to Miscellaneous
Proceeds.
Borrower shall be in de. fault if oily ~action or proceeding}, '....l~c.thcr civil or criminal, is begun that, in
l.ender's jud~mnent, cotlld ]'esult in forfeiture of the Property or ,,¢:~-~ m;itcrial Lqlpah-ment of Lender's imerest
in the Property or rights under this Security .[Bstr~ment..Borro\\ ~: ~';tli cure SLlch a def~tlt :and, jf acceleration
has occ~rred, reinstate as provided Lq Section 19, by cannirtg tl~ :~,'ttoli or proceeding to be dismissed with
Tuling that, in Lc. baler'S judgTnent, preah~des fo]-feimre of th~: }'lltpcrty or other .[eaterS_al impairment of
l ~nder's interest .in the Property or rights ~mder t~his Security h~:,~-u~c~t. The proceeds of any award or claim
for damages that are atlyJbumhle to the Lmpairment of Lender'> ~l ~icl-cst ii~ the Property are hereby assigned
and shall bepai~ to Lenl~r.
All M~scellaneolls Proceeds Lhat are nat applied to restor:~h,,~ ~r repair of the Property shall be applied
in the order provided for in Section 2.
~I~-SA(WY) (ooos) P~g~9~f ~s
Form 3051 1/01
12. Borrower Not Rdeased; Forbearane, By Lender N,,t a Waiver. Extension of the time :fOr
payment or modification of amortiTation of 1be sums secured b~ ~,~, Security inshmmem granted by Lender
to Borrower or any Successor in Interest of Borrower shall not ,,i,~'~'~tc to rdease Lh_e liability of Borrower or
any Successors in Interest of Borrower. Lender ~hall .tloi be rcti~.~ ~'d t() conunence proceedings against any
Successor .in Interest of Borrower or to refuse to extend time fi,~ p;tymcnt or otherwise modify amorfi?atinn
of ibc sums secured by this Security Instrument by reason of a~x dcmalld made by the original Borrower or
any Successors in Interest of Borrower. Any forbearance by ! c.~tdcr in exercising any right or remedy
including, withe)ut limitation, Lender'S acceptance of payments ~,,~ third persons, entities or Successors m
Interest of Borrower orin amounts lgss than Ihe amount Ihe~ tim~' hhall not be a waiver of or preclude the.
exercise of any right or remedy.
13. Joint and Several Liability; Co-signers; Successors :, ~1 . \ssi gus Bound. Borrower covenants and
agrees that Borrower's obligations and liability shall be joint .tied .~cveral. However, any Borrower who
co-siLms this Security Instalment but does not execute the Note ¢:t "c ~-,~igner"): (a) is co-s~trning fi:ds Security
Instrument only to mnrtgage, grant nnd convey lhe co-signer's i~t~ ~ [.~t in the Property under thc Igrms of Ibis
Security Instalment; CD) is ~ot persnnally obligamd to pay zl~ .~t~, ~ccured by this Security Instalment; and
(C) agrees that l~nder and any other Borrower can agree [,, c~xtend, modify, forbear or make any
accnmmodations with regard to the terms of thi.q Security Inst~-,l~;~cq~t or the Note without Ihe co-signer's
£onse, nt.
Subject to the provisions of Section 18, any Successor in I t,t,. ~ ~-, t t~ f Borrower who assumes Borrower's
obligations under thi,q Security Insllnment in writing, and i~ :,[~i)rovcd by Lender, .qhall obtain 3.tl of
Borrower's rights and benefits under this Secarity Instrum~.~[ Borrower shall not be released fram
Borrower's ohligations and liability under thi.q Secllrity iIlStrLllt~c~l~[ UlII~SS Lender agrees to such release in
writing. The covenant,q and 3greements of ~ Security Insllumc. 1 ~[ ~hall bind (except as provided in Sectinn
20) and benefit Ibe successors and assigns of 1 ~ender.
14. Loan ChargeS. I~nder may charge Borrower fees ~,,~ ~crvices performed in cnnnection with
Borrower's default, for the. purpose of protecting l~nder's ih~'~ ,'st in thc Property and rights nnder this
Security Instrument, including, bat nut limited to, attorneys' fcc-, 1)1 ~pc-rty inspection and vahmtion fees. In
regard to any other fees, Ihe absence of express authority in thi~ 5c'ccarity Instrument to charge fl specific fee
to Borrower ,hall not be construed as a prohibition on the charg~? ,}f such tee. Lender may not charge fees
that are expressly prnhihited by Ibis Security Instrument or by Apl ~l 3, al)lc Law.
ff the Loan is subject to a law which sets maximum loan
~ ,~,~ ,_,c.~, and flint law is finally interpreted so
that ibe interest or other loan charges collected or to be collrct~-d m cmmection with the Loan exceed l. be
permitted limits, then: (a) any s~ch loan charge shall be reduced b,, tt~~ amount necessary to reduce ihe charge
to lhe pcrmiUed limit; and CD) ally sum~ already collected frtm~ }.',,~t~lwcr which exceeded permitted limits
will be refunded to Borrower. lender may choose to make fl~i.~ ~c lc,I~(t by reducing lhe principal owed nnder
the Note or by making a direct payment to Borrower. If a rrftl~ ~] i-cdc~ccs principal, the reduction will be
l~'eated as a partial prepayment without any prepayment char?'
provided for under the Note). Borrower's acceptance of any such l c'lcmd made by direct payment to Borrower
will constitute ~ waiver of any light of acfionBorrower might hax c' ;t~"~ili*~ out of such overcharge.
15. Notices. All notices given by Borrower or Lender h~ c'~,~ :~'c'ti{m with this Security Instrument must
be in writing. Any notice to Borrower in connection with thi~ S~.. ~'itv lnstrmnent shall be deemed to have
been given to Borrower when mailed by first class mail or x~l,:l~ actually delivered to Borrower's notice
address if Scut by other means. Notice to any one Borrower sh.tt! c,mstitute notice to all Borrowers nnless
Applicable Law expressly requires otherwise. The notice adch~ ~, .~hall be the Property Address artless
Borrower has designated a substitute notice address by notice 1~ l.c'mtcr. Borrower shall prnmptly notify
Lender of Borrower's change of address, ff l~nder specifies a t)~,,~, cdure for reporting Borrower's change of
address, then Borrower ,qhall only report a chnnge of address tim ,[~!,[~ that specified procedure. There may be
only one de,qignated notice address nnder this Security Insmm~c[,t :~[ al~y m~e time. Any notice to l~ender .qhall
be given by delivering it or by mailing it by first class mail to [_c'~dcq"s address stated herein nnless l~nder
has de~i~mmted another address by notice to Borrower. Any notice. ~t c~mnection with this Security Instalment
shall not be deemed to have been given to l.ender nntil actually re, ~'~x'cd by Lender. If any notice required by
Il:lis Security Instalment is als0 required under Applicable Law, tl~c- :\pplicable Law requirement will .qati~fy
Ihe corresponding requirement nnder ihi. s Security Instalment.
I r-tltlal$;
~--6A(WY) (o0os) Page m~f ~s Form 3051 1101
16. Governing Law; Severability; Rules of Cox~tructi~,, 'T']~s Security Inslzumenr .~hall be governed
by federal law and the law of the jurisdiction in which thc ~':, i~c~l't) is located. All right.~ and obligations
cnntained in flxis Security Inst~ment are subject to any ro ,,~'~c~ts ~uld limitations of Applicable Law.
Applicable Law might explicitly or implicitly allow the partk -. wrcc by contract or it might be silent, but
such ,~ilenee .~hall not be construed as a prnhihition aEainst h!'l¢cHICll[ by comract. In the evem d~at any
provision or cla~.~e oft, Ids Security Instrument or t]~ Note c,~,¢.i, t~ svid~ Applicable Law. such conflict .~hall
not affect other provisions of dais Security Instalment or fl~- h;,)tc which can be given effect without the
conflicfin,.go provision.
As used in ~ Secm-ity InslTument: (a) words of ~1,: ~,,~culi~e gender gh21l mean and inch~de
Corresponding, neuter words or words of the. feminine, gend:.-~', t~ words in the .~in~lar .~hall mean and
inc. l,de the. plural and vice versa; and (c) the word "may" gix .~., ~,,~- discretion wi.thom any obligation to take
any action.
17. Borrower's Copy. Borrower ,~hall be given one cop) , t]~c Note az~l of fl:tis Security Instr~ment.
18. Trnn~fer of the Property or a Beneficial Interusl i~ Borrower. As ~ed in this Section 18.
"Interest in the Prope~y" means any legal or beneficial imcr~..{ tl~c Property, including, but nor limited ~o.
those benefit, iai interests transferred in a bond for deed, contr:,,: i,,' d~cd. installment ,~aleS coon-act or escrow
agreement, the inten~ of which is the transfer of title by Borrov, ~., ;,t ~ future date to a purchaser.
If 'all or any part of the Proper~y or any Interest in the 1'~., ~.rtx ~s sold or transferred (or ffBorrower is
not a natural person and a beneficial imeres[ in Borrower Ls su:, ,, tr;mst'crr~d) witho~£ Lender's poor wrinen
consem, Lender may require immediate, payment in full o~ df ,u~,.~ secured by al:tis Security Ins/:n~menr
However, ~ option .~hall not be exercised by Lender if si.Ich ~' ..~'l ~'1 ~ ~ Is prohibited by Applicable Law.
If l.ender exercises /his option, Lender .~hall give BorI',,',vcr ~lotice of accelexadon. The notice shall
provide a period of not less than 30 days fi.om the date fl~c ,,~'c' ~s given in accordance with Section 15
within which Borrower mn~£ pay all sums secured by this Sc~ ~t r i~ h~strm~em. If Borrower ~ 'falls ~o pay the. se
s~m.~ prior to the expiration of this period, Lender may ~ ..... ' :t~x' remedies permitted by dzis Security
Ins~ment without Y:nVdzer notice or demand on BorrOWer.
19. Borrower's Right to ReloCate After Accelermi,,u. If Borrower mee~s certain conditions,
;Borrower .~hall have tl~ zight ~ have enforcement of this $c~ ~,t ~t, h~strumem discontim~ed a[ any time prior
Io the earliest of: (a) :five clays be_fore sale of the Proper~y p~,':.u~u~ to any power of sate contained in this
Secttrity Instalment; (b) such other period as Applicable La~ :,~,~ ,~l}ccify for the ~rrnination of Borrower's
ri~ht to reinstate; or (c) enlxy of a j~M~o-menr enforcing this -. ,,r~b, lustrumenL Those conditions are th2£
Borrowe1': (a)pays fender all $~]m.~ whie. h th~n wotlld be duc ,~,l~.r diis Security Instlq~menf and the. Nol. e as
if no acceleration had occurred; (b) cures any de. fmdt of al~,. ,,ii,vt covenants or agreemenr.~; (c) pays all
expenses incm'red in e_z:fforein~ thais Security II:lsl:mment, in~l~,!i~,_, but ~o~ limited m. reasonahte ax[orneys'
:fees, proper~y inspection and valuation fees, and other fees u _ url-cd 1'or ~e purpose of protecting lender's
interest in the Propert-y and ~ight~ -oder this Security Ins[ru~,~ ~I ~md (d) takes such action, as Lender may
reasonably require to assure d~tt Lender's interest in ihe Prol,~ ~', ;t~td rights ~mder fl:ds Security Ins~ment.
and Borrower's obligation to pay the sums secured by this h~.~ ~ i~v I1).$trt~fReilt., .~hall cnnfim~e ~me. han~oed.
fender may xequire that Borrower pay such reinst2temenI sm~;. ,~M expenses in one or more of the following
forms, as selected by Lender: (a) cash; (b) money order; (c) ~'~.~ ~fl~'d ditek, bank check, treasurer's check or
cashier's check, provided any such checkis drawn upon an i~ ,~,~ whose deposits areinsured by a federal
agene, y, insl:n~mentality or entity; or (d) Elecu'onic F~mds 'I'l:~:,,l~r Upon reinstatemen~ by Borrower, this
Secu~y J. nsl:n]ment and obligations secured tzereby .~hall rc~,t,,~l fully effective as if no acceleration had
occurred. However, this right to reinstate ~haI1 not apply in d-~c· ~ .~.,~. ,f acceleration under Section 18.
20. Sale of Note; C. hnn~oe of Loan Servicer; Notice ol (;ri~,vance. Tl~e Note or a partial interestin the.
Note (toged~r wi~ this Secm-ity Instrnment) eau be sold one ,, ~ ~,,, c tills, cs without prior notice to Borrower.
A sale might resutt in,a ehan~oe inthe entity (known as flze "1 ,,,,~ Servicer") d~t collects Periodic Payment.~
d~e ~mder ~ Note and ~ Secm:ity Insl:n~ment and perfun~, t~tllcr ~i~ortgage loan servicing obligations
~mder ~ Note,/.his Security Insm.tment, and Applic. ahle Law I'hurc also nligtzt be one or more c. hangeS of
~ Loan Servicer re]related to 2 .~ale of the. Note. If there iS :~ ~'1 ,,t~ ~gc of the Loan Servicer, Borrower will be
given written notice of fl:re change whie. h will state ~ x~u~,' ;tim address of the new Loan Servicer, the
address to whic. h payment~ shonkl be made and any other i~,, ~,,~d~u RESPA requires in connection with ~.
~-~A(WY) (~r~s) P,~.~ ~ of ~s
Initials: ~
]=~rm 31~51 1/I)1
notice of transfer of servicing. If ~ Note is sold and ihereaftcr ~! ~ l~',m is serviced by a Loan Servicer other
than l. he purcha`qer of the Note, the mortgage loan servicin~ ,,!~ii,..,;ttitms to Borrower will remain wilh
Loan Servicer or be transferred to a successor Loan Servicer ,~d arc not assumed by the Note purchaser
nnless otherwise provided by the Note purcha`qer.
Neither Borrower nor lander may commence, join, or t,....1,)i~cd to any j,dicial action (as either an
individual litigant or the member of a class) that arises from fl~c, ,~1 ,~,~' party's actions pursuant to this Security
Instrnment or that alleges, that the other party has breached mb [,t~,visitm of, or any duty owed by reason of,
ibis Security Instrument, nntil sllch Borrower or l.ender lies not il i:_, 1 ti lc' other party (with such notice given in
compliance with file requirements of Section 15) of such alleged *',~-~';~ch and afforded the other party hereto a
rp_.~qnnahle period after Ih¢ giving of such notice to take corrccil,, v :torino. If Applicable Law provides ~ time
period which m-`qt elapse before certain action can be taken, th:.t t,~c period will be deemed ro be reasonable
£or parposes of.this paragraph. The notice of acceleration ~nd "t'[" ~ mllity to cure given ~o Borrower pm:shunt
to Section 22 and the notice of acceleration given to Borrox~t-~ [mrsuant to Section 18 shall be deemed m
satisfy the notice and opportunity to take corrective action provi~, ,~ ~, ,f this Section20.
.21. I-Ia~arrloll.q ~.qllb~anc*~. AS used /n Ibis Section 21 (a) "Hazardous Substances" are those
substances defined as toxic or hazardous substances, pollutant,, ~,r wastes by FAlvironmental Law and the
following substances: gasoline, kerosene, other flammable or I,,,.~. pctmlCmn products, toxic pesticides ~nd
h~rb'mides, volatile solvent.q, materials containing asbestos or l,,;i~t:dddiyde, and radioactive materi_als; CD)
"Fmvironmental Law" means federal laws and laws of lite jurisd~ _'[ [~ ,it whcre the Property is located that relate
to health, safety or environmental protection; (c) "Environm~.~,~l Cleanup" includes any response action,
lemedild actioll, or removal actiolx, as defined itl ~tlvh-nnmental [.:~w; and (d) ail "Ellvir0nmental Condirioll"
mean`q ,3 condition that can cause, contribute to, or otherwise triy?~-~ a~ Environmental Cleam~.
Borrower shall not canS~ or permit ihe presence, use, di,.l,,~:tl, storage, or release of any Ha?nrdokts
Substances, or threaten to relea.qt,' any }-la?.~rdons Substances, ~,~, ~,r m the Property. Borrower `qhall not do,
nor allow anyone ~Jse to do, anything affecting Ihe Property ~,t~ tibet is in violation of any F_.nvironmental
Law, CD) which creams an F_.nvironmental Condition, or (c) wi,i, ~, du~ to the presence, use, or relea`qe of
]-la?ardous Substance, creates ~ ~ondition that adversely affecb d,~. x:~]uc of the Property. The preceding two
sentences `qhall not apply to Ihe presence, use, or storage on tit: I'mpcrty of small quantities of Hazardous
Substances that are generally ~ecogni?~.d to be appropriate to ~,,~'~:~1 residential uses nnd to mainten3nce of
l. he Property (including, but not limited to, ha?ardons subsmncrs ~: c{msumer products).
Borrower ~hall prornpfly give Lender written ix)rice of (:t~ ;l!,v investigation, claim, demnnd, lawsl]it or
other action by any governmental or regulatory agency or p~'~', .tic. party involving lite Property and any
}-la;,ardons Substance or F_.nvironmental Law of which II,~ll'~wcr has actual knowledge, CD) any
t~ztvirnnmental Condition, including but not limited to, any sl)illt,,~,, l~akin~, discharge, release or Ihreat of
:release of any Ha:mrdous Substance, and (c) any condition ~,[ ,.<'d by tl~e presence, use or release of
t4a:,.qrdous Substance which.adversely affects the value of Iht 1',, ,;,~.rt5 . If Borrower learns, or ~s notified by
any governmental or re,rotatory anthori, ty, or any priv3f¢ ~m'trt}', tit:¢i ',my removal or other remediation of.any
Ha;,nrdons Substance 3ffecfing Ih¢ Property is necessary, Borrm~ ~,! ~hall promptly take all nece`q`qary remedial
~TJ. ious in accordance with F_.nvironmental Law. Nothing herei~ :,1 ~tll create any obligation on Lender for an
F_mvirnnmentnt Cleanup.
I~)~6A(WY)
P~Je 12. Df 15
Farm 3051 l/D1
NON-UNIFORM COVENANTS. Borrower and lendc~ 1 ~ t l~c-r covmxant and agree as follows:
22. Acceleration; Remedies. Lender shall give notice ~,, Borrower prior to acceleration following
Borrower's bron_eh of ally £overlallt or agreement in lifts Security Instrument (bun not prior to
acceleration nnder Section 18 zmless Applicable Law prm i(h.s otherwise). The notice shall spedfy: (a)
the default; (b) the a~ion required to cure the default; (el ;, date, not less than 30 days from the date
the notice is given to Borrower, by which the default mu-I be cured; and (d) that failm-e to cure the
default on or before the date spe~ied in the notice may re~l~ll in acceleration of the snm~ seem'ed by
thi~ Security ln~rnment and sale of the Property. The n,ticc sh~dl further inform Borrower of the
right to rein.~ate after aeeoloration and the right to bring :~ c.m-t action to assert the non-oxL~tence ora
defatflt or any other defense of Borrower to acceleration :md sale. If the default is not em-ed on or
before the date specMied in the notice, I~nder at its optio~t may require immediate payment in full of
ail ~nmg secured by this Secmrity Instrument withoun furllwr demand and may invoke the power of'
sale and any other rerr~dies permitted by Applicable l~:m. Lender shall be entitled to collect all
expenses incurred in pursuing the remedies provided in tlti~ Section 22, including, hun not limited to,
reasnnahle attorneys' fees and eos~ of title evidence.
If l~nder invokes the power of cmle, feuder .~hMl gi~c notice of intent to foreclose to Borrower
and to the person in posso~glon of the Property, if diI'rcrcnl, in accordance with Applicable Law.
L~Kler ghMI give notice of the sale to Borrower in the ,~:~lll~er provided in Section 15. Lender ghall
pnhlish the notice of sale, and the Property ~hall be sold i~ llie manner prescribed by Applicahle Law.
i.ender or its designee may purchaRe the Property at any ~,:&.. The proceeds of the sale ~ha!! be applied
in the following order: (a) to ail expenses of the sale, i~whMing, but not limited to, rem~nnahle
attorneys' fees; Co) to ail snm~ secured by this Security In~l vument; and (c) any excess to the person or
persons legally entitled to it.
23. ReAease. Upon _payment of all snm.~ secured by fl~i> !~Tcurity Instrument, Lender ,~hall release Il:tiS
Seca~rity J. QSl~ment. Borrower ~hall pay any recordation ~.,~, Lender nmy charge Borrower a ~ for
~aRi~ ~ Sec~ ~ent, but offiy ff~ ~ ~ p~c t,, a third p~ty for se~s render~ ~ ~
cha~ of~ ~ ~ p~ined under Applinah~ ~w.
24. Waivers. Borrower relea~s and waives all rights u;,!~'; and by virtue of the homestead exemption
laws of Wynming,
~A(WY) (DDDS) Page 13of 15
Initials: ~
Form 3051 1101
BY SIGNING I:I~I,OW, Borrower accepts and agrees ,,. fl~,. tcnns 'and £overmnt,~ gnnt~ined in Ibis
Sex31nily ~ ~nd in3ny Rider exe~nted by Borrower m~d ~: ~'.~'dcd with it.
Witn~.ss~$:
AIMEE E. CROOK
-Borrower
]~ICHLEL R. CROOK
-]~olTow~gr
(Seal)
-Borrower
-Borrower
-~orrower
(Seal)
-Borrower
(Seal)
-Borrower
-Borrower
O D5173 9316
Page 14 of 15
Form 3~)51 111)1
0~0526S /
/
STATE OF WYOMING, ~~~'~' /
33ae foregni~.E~ lI~2-ument W~ ack~w~ before
/
/
/
My Cnmmi~sion~s: ~
/
/
/
County ~s:
0051739316
PaN 1S of 15
Form 3051 1101
STATE OF IDAHO
COUNTY OF BONNEVILLE
SS.
On December 13, 2004, before me, the und.~ ~gncd, perSonally appeared Aimee
E. Crook and Michael IL. Crook, known or identi : I to me to be Ihe person(s) whose
name(s) is/are subscribed to the within instru~,~,t, and acknowledged to me Ihat
he/she/they execnted the same.
Commissi
iEANNEF- NANGLE ~
~ TAT r- O-~;