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HomeMy WebLinkAbout905312WHEN RECORDED, MAIL TO: Home Security Mortgage Corporation 1101 International Pkwy Fredericksburg, VIRGINIA ZZ406 This Instrument was prepared by: Home Security Mortgage Corporation It0I International Pkwy Fredericksbur~ VIRGINIA ZZ406 800-818-883J Loan Number:. 79041587 Ordex Numbc~. 31315 RECEIVED 12/1612004- at 17'23 PM RECEIVING# 90531Z BOOK: 575 PAGE: JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY hove This tine For Recording Data) MORTGAGE MIN: 10031Z100041100065 DEFINITIONS Words used in multiple sections of this documcm ,,_' :fined below and other words are deffmed in Sections 3, I I, 13, 18, 20 and ZI. Certain roles regarding the usage of words used in, n,. h,cument are also provided in Section 16. (A) "Security Instrument" means this documcm. ,.~ I ~ h is dated December 15, 2004, together with ali Riders to reis document. (B) "Borrower" is Robin Rothermel and Limla R,,I hermel, Husband and Wife as tenants by the entireties . Borrower is the mortgagor under this Security Instrument. ((7) "MERS" is Mortgage EIectronic Registratio n ~x sl ems, Inc. MERS is a separate corporation that is actmgsolely as a nominee for Lender and Lender's successors and assigns. ME R.~ i, Ibc mortgagee under this Security Instrument. MERS is o ~rgarrizcd andexisting under the laws of Delaware, and has an address and ~ I phone number of P.O. Box 20Z6, FEint, MI 48501-20;Z6, tel. (888) 67r)-MERS. (D) "Lender" is Home Security Mortgage Corlmr:~imL organized and existing under the laws of The State of Virginia_ Lender's address is 1IOI International Pkwy. I:rcd,,ricksbnr~ VIRGINIA ZZ406. (E) "Note" means the promissory note signed bx 1~ ,,, '.~ er and dated December 15, Z004 The Note states that Borrower owes Lender TWO HUNDRED SEVENTY-TWO THOUS.i\ N 1 ~ ~ \VO HUNDRED and no/100 Dollars (U.S. $Z77.,200.00) plus interest. Borrower has promised to pay this debt in regular Periodic P~', t.'ms and to pay the debt in full not later than January I, 2035. (F) "Property" means the property that is descrfl,,.'d h~xv under the heading '~Transfer of Rights in the Propen'y." (G) "Loan" means the debt evidenced by the Nolo. -' llrerest, any prepayment charges andlate charges due under theNote, and all sums due under this Security Instrument, plus interest (H) "Riders" means ali Riders to this Secumy h,~,,, ~cnt that am executed by Borrower. The folIowmg Riders are to be executed by Borrower (check box as applicable): [~ Adjustable Rate Rider [] ( tmd.,mlnium Rider IX]- SecondHome Rider [~ Balloon Rider [] Plalm, l/nitDcveloFmentRider []~ VARider [] 14 Family Rider [] Ih',~. ~' PavmentRider [~[ Other(Specify)- (I) "Applicable Law" means all controlling npplic ,1 deraI, state and local statutes, regulations, ordinances and a&~&fistrative rules and orders (that have the effect oflaw) as well as all ,,pt' Ne final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, a n d \ s s ¢.,., men ts' means all dues, fees, assessments and other charges that arc imposed on Borrower or the Property by a condominium as st)c, t~;, .~;. homeowners association or similar organization. (K) "Electronic Funds Transfer" means any mm-, 'r ,~f funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electrO,mc !,' ~,'.~ n al. telephonic insmnnent, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or crc d it m _ ~.,,u ut. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initi ate d h, Icl, ~, ~,, n e. wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that arc ,1~., ~ ~'cd in Section 3. (M) "Miscellaneous Proceeds" means any co mp,'n-: ,, ~,,m settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages tlc sc n t,.'. ! ~ 5 ection 5) for. (i) damage to, or destruction of, the Property; (ii) condenmanon or other takingof all orany part of the Prope%';, i~ c,,n 'race in lieu of conderrmation; or(iv) misrepresentations of, oromissions as to, the value and/or condition of the Property. WYOMING- - Single Family - Fannie Mae/Freddie Mac U HI FOR M IN~ ~KLIMENT with MERS. Form 3051 1/01 I05. Inc. - (800) 554-187-Z Page1 of 9 florrower(s) ( 0145 (IN) "Mortgage Insurance" means insurance protecting Lender against thc .,,q~ayment of, or default on, the Loan, (O) "Periodic Payment" means the regularly scheduled amount due for (i~ l~.~cq~al and interest under the Note, plus (ii) any amounts under Section 3 of this Security Insti'ument, (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. ~ 2~111 ct .~'cq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any ad,t il i,,ml or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all ~cqtm'cments and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "fcdc~;fl Ib related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken ~it[c to the Pt'operty, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument, TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and .Il ~ cncwals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Sect~ i~x h~strtanent and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender itt x,I 1 c~.lcr's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property loc;~lcd m thc County of LINCOLN: See Attached Exhibit 'A' Parcel ID Number: 351913100043500 which currently has the address of: 695 Henry Mountain Road Etna, WYOMING 83118 ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected ~,~ thc pn operty, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions sh. II ,tNo be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borroxx cr t~.lcrstands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necess,.; It) comply with law or custom, MERS (as nominee for Lender and Lender's successors and' assigns) has the right: to exercise any or ali', ,l'thosc interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender inchndiz~k,, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seized of thc c,mtc hc,'eby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for c~ t, ,~d)r:mces of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject k, t"~3 cz~cumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants t',.' m~tional use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument coveri.? teal property. UNIFORM COVENANTS, Borrower and Lender covenant and agree ,~ ~ follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepaymct~t charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due tmd,'r thc Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lendc~ as payment under the Note or this Security Instrument is returned to'~ender unpaid, Lender may require that any or all subsequent pa) ~n~,*~xts dtxc under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (1~) mtmcy order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an it~titt~iol~ whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the locati,,~ dcs igmaed in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 13 I crater may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lendc~ ~,a3 accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice I,, it~ tights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such pa) ~nxc~tts txrc accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. I ,.~ ~dcr may hold such unapplied funds until Borrower makes payment to bring the Loan current, If Borrower does not do so within a reas,m,thl,, period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to fl.', ,,t~tanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in ~l,c t't ti.re against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the c,,x c.,~xt, and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise desc~-thcd in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due undc~ Iht Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment i~ thc c,'der in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due undc~ tl,i~ ,qccu,'ity Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic I',y~ncnt which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the l,tc d~argc. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of tl~,. I'c~ it)die Payments if, and to the extent that, each payxnent WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT with MERS Form 3051 1/01 Page 2 of 9 .aCf,~,,~ J ~os, mc.- (soo) 554-~72 Borrower(s) Initials ~ can be paid in full. To the extent that any excess exists after the payment is applwd to II~e full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepaymenls sh,dl bc .~q3plied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Ih,~cccds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the da~. Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts'due fo~ .... taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Propc~ ~5. t b l k'~tsehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Sectkm 5. ,~tl (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance O cmiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during Ibc ~crm of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, a~d stroh dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid tmdc~ this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds ~t,~ a~ or nil Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. ',t~ ~ttch waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts dt~c ~ any Escrow Items for which payment of Funds has been waived by Lender and, if Lender reqmres, shall furnish to Lender receipts ev~dc~,c mg such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide rece~ ~ shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant am~ a?~ccmcnt' is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pa3 ~c 'a mount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obl~,:~tcd under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by ~ ~ucc given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, d~,,t ,u c d~en required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (ai ~uflScicnt to pern~it Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender c~,~ require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates ofexpendi~m cs of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insmcd by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Fcd~,~ ,d I lome Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall ~ charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Icndcr pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in ~ ~ iting or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earning~ o~t tho Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borr,,~ ct, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, I crater shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as dc I'i ~cd under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make' t,l~ dtc shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escro~v, :~ deft ned under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary ~, m~ke up thc deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrumenl, I cmlcr shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or grotmd ~ c~ts on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Esc~ o~s I~.ms, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over Ihi ~ 5;ccm'ity Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptabk, t~ l~cndcr, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforce,nc~ ~t, ~l' Ibc lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pct~dmg, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender st,b~,~di~almg the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can att'am priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of thc date on which dml ~t~tice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real esl,lc la s verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements no~ c~isling or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and an3 ~ ~d~cr hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained itl file amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the precedm? ~cntences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject tt~ l.~'nder's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to P~tS. i~t connection with this Loan, either: (a) a one-time charge WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT with MERS Page 3 of 9 IDS, Inc. - (800) 554-1872 Form 3051 1/01 Borrower(s) Initials ~'~'~- _~ for flood zone determination, certification and tracking services; or (b) a one t i~c charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes t,t','m which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees ~t,~l,,,sctl by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from [m ,,hjcction by Borrower. If Borrower fails to maintain any of the coverages described above, 1 ,'mlcr may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particul:t~ L~pc m' amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's e. quity ill ~1 t,, I'r,,pcrty, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was pre x i,,t~ ly in cffect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance II ~;[t Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower sc, t~ cd by this Security Instrument. These amounts shall bear ~nterest at the Note rate from the date of disbursement and shall be payable, ix ith such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such p,li,'ics shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender tls m,, tgagce and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires. }i,,lowcr shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance c,,, ,'~ ;tgc, not otherwise required by Lender, for damage to, or destruction oI~ the Property, such policy shall include a standard mortgage t I,msc and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insuran,',' c,rricr and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restorati,m ,)r repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such rep:, i~ ,t mi restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Ih, ,perry to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or ~n a series of progress payments as the work is completed I '~lcss an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not bc tcqttircd to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borroxx cr ~l~;tll not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economic~tlly /basible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrtm ~c~ ~t, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided t',~ m Section 2. If Borrower abandons the Property, Lender may file, negotiate anti ~cl~ lc any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the in,t~ ,~cc c;~rrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice i, ~;ix ch. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrc~x~ cr's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (bt .my other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies c',,x cring the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either ti) ~.13:fi r t~t' restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Propet~3,ts Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Properly :ts Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consc m ,h:dl not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; h~,,l~cctions. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or comnut waste on the Property. \Vh,'thc r o r not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deterioram~g ~r decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economica llx t'casiblc, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemn,ti,m proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restorim._,. I ltc Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a sin f. lc payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient m ~q,:fir or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspecti~,,, ~,f thc Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Ihu row,:r notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, dm i~.,2 thc [_oan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge ,,' c,mscm gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with m;tlc~i,I information) in connection with the Loan. Material representations include, but are not limited to, representations concerning B~,~ t,,xx cr's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Undcr lift', Security Instrument. If(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there i~, ;t legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as ,~ pt[}cccding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Sc~'[ttity Instrument or to enforce laws or regulations), or WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT with MERS Page 4 of 9 IDS, Inc. - (800) 554-1872 Form 3051 1/01 Borrower(s) Initials ~ ~ (c) Borrower has abandoned the Property, then Lender may do and pay for wh:dcl c r is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecm~ :md %' assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited tt~ ulj paying any sums secured by a lien which has priority over this Security Instrument; (b) appeanng in court; and (c) paying reasonablc ~t~tcmcys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a banker ptc3 proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or bo~,,I ,p doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities ttl~ i~ctl on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligati,,t ~,~ do so It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall bec{,nc additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date o I' d idmrsement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall compl) il ith all the provisions of the lease. Borrower shall not surrender the leasehold estate and interests herein conveyed or terminate or ca~,'c I I lie groined lease. Borrower shall not, without the express written consent of Lender, alter or amend the ground lease. If Borrower acquirc~ Ibc title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger ~n writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance .... condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any rc~ts~m, d~c Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such Hihur;lllc¢ and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Bom,xx ~'~ ~}lal pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a ~'~,.,~ ~ttt~stantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurc~ ,~qc~'~ed by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender d ~,' amoul~t of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, usc .t~ ~d rctzfin these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, nohx ~d~standing the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on ~,ttch loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period theft Icndcr requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designatc,I l,,lyments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Bor~, ,wcr was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiu,}~ required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgwc In,urance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until terminat i,,~ i~ required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases d~c r',Jotc) ibr certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in ft, cc fi'om time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreen~c,I, [,'c on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These ag~ccmcms may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (xvhi~ It may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, a~,~ her insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that deri x c 1'~,, n (or Might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the m¢~ tg~gc insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exch;tn~e t'or a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrm~ cr has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrm/cr ~ill owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has it' any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance. To have the .~ l,rlgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned al the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Misccl [,tl~ct~tl.,.; Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be appl lcd t¢ restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. Durm&~ such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportmfity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall bc tHidcl hlkcn promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as thc xt ~, I, iq completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, I cttdcr shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not cc~,tcmically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Seem it;~ h~strtm~ent, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in thc ~,~ der provided for in Section 2. WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT with MERS Page 5 of 9 IDS, Inc. - (800) 554-1872 Form 3051 1/01 Borrower(s) Initials ,~'~,~'~. ~ In the event ora total taking, destruction, or loss in value of the Propcr~)'. ~hc r\'liscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the exces~ ~l :~)., paid to Borrower. In the event of a partial taking, destruction, or loss in value of thc P~?crLy in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or :~ ~,~c~ than the amount of the sums secured by this Security Instrument irmnediately before the partial taking, destruction, or loss in value, t~ Ices Borruwer and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount t,l' It~c ~liscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before, the parl~l ~k i~, destruction, or loss in value divided by (b) the fair market value of the Property i~mnediately before the partial taking, destructi,~ . ,~r oss m value..Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of th~' '~pcr~y in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than th~' :~ ~tmt of the sums secured irmnediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise a~ cc ~ \¥riting, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are thc~ ,luc. If the Property is abandoned by Borrower, or if, after notice by Lendc~ ~t, I~,rro~¥er that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower failh t,, rc~po~d to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceed~ ~. Hhcr lo restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing ParL~" ~c~H~s the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard ~,~ N l~cclhmeous Proceeds. Borrower shall be in default if any action or proceeding, whether civil ,,~ c'~ H~m~l, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impamnent of Lender's interc~l ~ ~hc Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate a~ 1~,~ idcd i~ Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture. ,,1' Ibc Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds ,, I ,~ ) ~l~¥~rd or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall I~' p~id to Lender. All Miscellaneous Proceeds that are not applied to restoration or rep:~ t, t'~hc Property shall be applied in the order provided for in Section 2, 12. Borrower Not Released; Forbearance By Lender Not a g~/:H~ t.~-. I~×te~sion of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lenttc~ t~ ~ H~rro\ver or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interc.s~ ~., [~t~rro~ver. Lender shall not be required to conunence proceedings against any Successor in Interest of Borrower or to refuse to extc~tt i~u~c tk~' payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made t~.~ ~l~c ~rig~na] Borrower or any Successors m Interest of Borrower. Any forbearance by Lender in exercising any right or remedy inch~di,~, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amou~t~ c~ Iha~ the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assig.s Ih~ ~d. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower ~vh,, c,~-~i~ns Ibis Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgagee, ~ml ~H~d convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated tt~ P,L~ Ibc sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbc,~ ~,r ~:~ke a~y accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest ol'l~rrt~\\'er who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of H, ~'~'~ ~¥cr's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under ~h~ Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall hi~tl (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for service~ pc~ l'~rmcd in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Sc~'t~rit)' Instrun~ent, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the ~h~,~cc o1' express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on th~, ~'h:~r~in~ of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, anti ti ~I I',~xv is ilL, ally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the pc~ ~ ~i ~lcd limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) ~,~.~ ~H~s already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make th i~ ~c lh~d l~), reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the rcth~'~io~ ~¥ill be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under ~l~c N~tc), Borrower's acceptance of any such refund made by direct payment to Borrower w~ll constitute a waiver of any right of actio~ I~,~rr~¥cr might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection x~ ~h lh i s Sccurity Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to ha¥'c h~.c~ ~ivcn to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other mea~s. N't~icc to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice ~thhcss ~h~dl be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall p~ptl~' ~otify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower' s change of address, th e ~ I ~, ~r r~x¥c r s ha 11 only report a change o f address through that specified procedure. There may be only one designated notice address under ~h i~ .Security, h~strument at any one time. Any notice to Lender WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT with Page 6 of 9 IDS, Inc. - (800) 554-1872 Form 3051 1/01 Borrower(s) Initials ~,~--..~ 0150 shall be given by delivering it or by mailing it by first class mail to Lender's dddtcss stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security I tl~ll utncnt shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instru~cnt's also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Secm'il. h~strument. 16. Governing Law; Severability; Rules of Construction. This Seem it~ h~strument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligaticm~ cumained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might expli~'i~ I.x ~t' implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition agam,,~ .3grcclncnt by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, sttt'h collllict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting prt~x ~.,~ll As used in this Security Instrument: (a) words of the masculine gcndc~ h l~[dl mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include t l~c p lu ral and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the No~c .mtl ot' this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. \s t~sctl ill this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, tht~c boric ficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of whicl ~ thc 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 is s~l .... Ir~ms ferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior wrlttcl~ c~mscnt, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shal n~ t~c exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of~,'~'~'tcration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within xxhtc h Borro\ver must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this pc~ ~{~d, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower 1~ toots certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior [~ thc earliest off (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) st~cl ~}thcr period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enl~,t ci~tg this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Securi t: l~t~,l rulncnt and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expensc~ incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, properly inspection and valuati~m cos, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and Id) t[~kcs such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrm ~cnt, m~d Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that I I~,,wcr pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; ~c~ certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits ~t~ c insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Securib I tqtm~llcnt and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate sh~tll no! apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance:. Ihc N~tc or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Bo~ r, ,x~ c~ A sale nfight result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable I ',~xx. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note If there is a change of the Loan Servicc~ I~,,rrowcr will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which 2~t> moms should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sohl ~t ltl there:after the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Bom,x~ cr will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless ,,tl~crwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined t,, :,~.~ judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to thi~ Nccm-ity Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security lnsh'm~ ~cm, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section I ~, ,~ I' such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. I .\ ~plic:tble Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to bc rc~t>,mable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 ~md ~hc notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrcctt lc action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardcms Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the fi~l h,xx ing substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, m~l c~ i,ds containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws ofthejurisdict i~,t~ where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any resp~m~c ~ction, remedial action, or removal action, as defined in WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT with MERS Page 7 of 9 IDS. Inc. - (800) 554-1872 Form 3051 1/01 Borrower(s) Initials~V----~-._~ Environmental Law; and (d) an "Environmental Condition" means a conditi,,~ Ih z, can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, stor:~,~', ~,' release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, ~,,r ~dlow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Enviro,~ct~,d Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects thc x ~lt~c t~t~the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of ll:~/;~rdous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Propbrty (inch~li~g, but not limiied to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any inx ~'~litjz~lion, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property anti :~%' I h~zardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including I,t~t ~,~ limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused b} l[~' l~rCscnc¢, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified h.~ ,m.~ governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecl~ ~d Ih c Property is necessa~, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nt,thim~ herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further cox ~',~,t ;md agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower pri.r m acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to accelt'r,li,n o nder Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required I. c,re the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be curt. d; :~,1 (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured h.~ ~his Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after accelcr:ai.u :md the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleratio. ,.d s:fle. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate paymt,, I i, r, ll of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other rcmcdics permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies pro~idcd iu this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice .r i,lt.,i to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable La~. I .t',ider shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and Iht, I'r~q~erty shall be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at :m.~ sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited I., rcas~mable attorneys' fees; (b) to all sums secured by this Security Instrument; and (e) any excess to the person or persons leg:~lb t,,fiiled to it. 23. Release. Upon payment of all sums secured by this Security I,~,,t,ncm, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fcc I~,~ rdcz~.~ing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permiu~',~ t,~dcr Applicable Law. 24. Waivers. Borrower releases and waives all rights under and b} ~, It~c of lh¢ homestead exemption laws of Wyoming. WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT with MERS Page 8 of 9 IDS, Inc, - (800) 554-1872 Form 3051 1/01 Borrower(s) Initials ~ ~ BY SIGNING BELOW, Borrower accepts and agrees to the terms m~d ,',,x chants contained in this Security Instrument and in any Rider executed by Borrower and recorded with ~t. Witnesses: .-~,/' ~- _ . (Seal) Rt, l,in Rolhermel -Borrower ~ ~..~.- ~1, o-----~,,,-u~/ (Seal) Limh~ Rothermel -Borrower STATE OF WYOMING, Teton The foregoing instrument was acknowledged before me this Robin Rothermel, and Linda Rothermel. Witness my hand and official seal. My Commission Expires: 9-15-0 7 (Seal) County ss: 15th day of December , 2004 by · ~' L/) Notary Ihtbhc WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT with rvlERS Page 9 of 9 IDS. Inc. - (800) 554-1872 Form 3051 1/01 -*0 53 M/N:100312100041100065 Loan Number: 79041587 FIXED/ADJUSTABLE RATE RIDER (LIBOR One-Year Index (As Published In The II ;d! 3'treet Journal)-Rate Caps) THIS FIXED/ADJUSTABLE RATE RIDER is made ..... 15th day of December, 2004, and is incorporated into and shall be deemed to amend and supplement thc \h~rtgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undc~>mncd ("Borrower") to secure Borrower's Fixed/Adjustable Rate Note (the "Note") to Home Security Mortgage Corlmralion ("Lender") of the same date and covering the property described in mc ~qccurity Instrument and located at: 695 Henry Mountain I~o:t(I Etna, WYOMING 831 l (Property Address THE NOTE PROVIDES FOR A CHANGE IN BORROWER'S FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE, THE NOTE LIMITS THE AMOUNT ." BORROWER'S ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME 'AND THE MAXIMUM RATE BORROWER MUST PAY ADDITIOI~]4L COVENANTS.-In addition to the co~c~,mts and agreements made in the Security Instrument, Borrower ~/n~l Lender furth& covenant and agree as folh~w~ "~' ~'"?c:..,~ ,F-- ~ -. A. ADJUSTABLE RATE AND MONTHLY'PAYMENT CHAN 'The Note p'r,o.9lde,sl fsr an initial fixed interest rate of 5.375~ Thc Note also provides for a change in the initial fixed rate to an adjustable interest rate, as' follows: 4. ADJUSTABLE INTEREST RATE AND MONTHLY PAYS I F N'I' C IIANGES (A) Change Dates The initial fixed interest rate I will pay will change to an adjtt.,hfl3l¢ interest rate on the 1st day of January, 2012, and the adjustable interest rate I will pay may change on th;tt ,1:5 every 12th month thereafter. The date on which my initial fixed interest rate changes to an adjustable intc~c~t tare, and each date on which my adjustable interest rate could change, is called a "Change Date." (B) The Index Beginning with the first Change Date, my adjustable inte,'c~t the average of interbank offered rates for one-year U.S. dollat-dcmmmmted deposits in the London market ("LIBOR"), as published in The Wall Street Journal. The most reccm lmlcx figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will Ct~L~¢,c ,. new index that is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate .... ~,'x~ interest rate by adding TWO AND ONE FOURTH percentage points (2.250%) to the Current Index. Thc "~olc l lokler will then round the result of this MULTISTATE FIXED/ADJUSTABLE RATE RIDER - WSJ One-Year LIBOR - .q, ~9,~ Family - Fannie Mae UNIFORM INSTRUMENT Page I of 3 Foj'~ 3187 6/01 lOS. inc.. (800) 554-1872 Borrower(s} Initials ~ ' O - M/N.'100312100041100065 Loan Number: 79041587 addition to the nearest one-eighth of one percentage poin[ (0.125"i~) Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the ncxl, hange Date. The Note Holder will then determine the amount of the m,m[hl5 payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date m fid on the Maturity Date at my new interest rate in substantially equal payments. The result of this calculation x~ ill bc Iht new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date x~ t[ aot be greater than 10.375% or less than 2.250%. Thereafter, my adjustable interest rate will never be incrc:tscd or decreased on any single Change Date by more than TWO percentage points from the rate of interest I have bcc~t paying for the preceding TWELVE months. My interest rate will never be greater than 10.375%. (E) Effective Date of Changes My new interest rate will become effective on each Chan~c l)~dc I will pay the amount of my new monthly payment beginning on the first monthly payment date after the ('h:umc Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of m~> changes in my initial fixed interest rate to an adjustable interest rate and of any changes in my adjustable interest tatc b c fore the effective date of any change. The notice will include the amount of my monthly payment, any infomm~i,}t~ ~cquired by law to be given to me and also the title and telephone number ora person who will answer any qnc'~,,~ may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL IN I'I._R EST IN BORROWER 1. Until Borrower's initial fixed interest rate changes to an :tdlUMablc interest rate under the terms stated in Section A above, Uniform Covenant 18 of the Security Instrument N It;tll icad as follows: Transfer of the Property or a Beneficial lnterc~ in lhn'ro~ver. As used in this Section 18, "Interest in the Property" means any legal or beneficial mlcrcst in the Property, including, but not limited to, those beneficial interests transferred in .. bond for deed, contract for deed, installment sales contract or escrow agreement, the intern t,l' 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 i~ Ibc 'mpcrty is sold or transferred (or if Borrower is not a natural person and a beneficial interc:,l m Bo,Tower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option ~l~,tll t~ot be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give I I,~rrower notice of acceleration. The notice shall provide a period of not less than 30 days i,m~ thc date the notice is given in accordance with Section 15 within which Borrower mu,t ,~,~ all sums secured by this Security Instrument. If Borrower fails to pay these sun-m prior to II~, cxpiration of this period, Lender may invoke any remedies permitted by this Security Instrumcnl wllhout further notice or demand on Borrower. 2. When Borrower's initial fixed interest rate changes to att :t,[i u,table interest rate under the terms stated in Section A above, Uniform Covenant 18 of the Security Instrument described in Section BI above shall then cease to be in effect, and the provimons of Uniform Covenant 18 of the Sccttrity Instrument shall be amended to read as follows: Transfer of the Property or a Beneficial lntercs~ in Bm'rower. As used in this Section 18, "Interest in the Property" means any legal or beneficial imcrcst in the Property, including, but not limited to, those beneficial interests transferred in , bond for deed, contract for deed, installment sales contract or escrow agreement, the intern ~f which is the transfer of title by Borrower at a future date to a purchaser. MULTISTATE FIXED/ADJUSTABLE RATE RIDER- WSJ One-Year LIBOR - '~;~,~jlu Family - Fannie Mae UNIFORM INSTRUMENT Page 2 of 3 F,p/'~ .~187 ~/01 IDS. Inc.-[800)554-1872 Borrower(s) Initials ~4.~%~t~L 0(/0155 M/N:100312100041100065 Loan Number: 79041587 If all or any part of the Property or any Interest in Ih~ Ih operty ~s sold or transferred (or if Borrower is not a natural person and a beneficihl interc,I m 13orrower is.sold or transferred) without Lender's prior written consent, Lender may reqmrc ~nm~cdiate payment in full of all sums secured by this Security Instrument. However, this optimq ~lt,ll lot be exercised by Lender if such exercise is prohibited by Applicable Law, Lender al~,, ~hall not exercise this option iff (a) Borrower causes to be submitted to Lender infom~ati,m required by Lender to evaluate the intended transferee as ifa new loan were being made to thc I~m,l'cree; and (b).Lender reasonably determines that Lender's security will not be impaired b3 hc It~an assumption and that the risk of a breach of any covenant or agreement in this Security In stt t.~e.t ~s acceptable to Lender. To the extent permitted by Applicable Law, Lcmk.~ nay charge a reasonable fee as a condition to Lender's consent to the loan assumption, kc.dc~ also may require the transferee to sign an assumption agreement that is acceptable to Lender ',tim Ihal obligates the transferee to keep all the promises and agreements made in the Note and in d~i~ gecurity Instrument. Borrower will continue to be obligated under the Note and this Seem il3 In.~trumcnt unless Lender releases Borrower in writing. If Lender exercises the option to require immeth,lc payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide .. ~criod of not less than 30 days from the date the notice is given in accordance with Section 1 ~ x~ ithin which Borrower must pay all sums secured by this Security Instrument. If Borrower I'ails to pay these sums prior to the expiration of this period, Lender may invoke any remedic~ ,~crmiltcd by this Security Instrument without further notice or demand on Borrower. BY SIGNING BELOW, Borrower accepts and agrees t, Irc terms and covenants contained in this (Seal) , ~ ~, '~__ (Seal) Robin Rothermel ~ -Borrower Lind:~ Ro!hermel -Borrower (Sign Original Only) MULTISTATE FIXED/ADJUSTABLE RATE RIDER - WSJ One-Year LIBOR - .';~ ,u,- Family - Fannie Mae UNIFORM INSTRUMENT Page 3 of 3 Form 3187 6/01 IDS. Inc. - (800) 554-1872 Loan Number: 79041587 MIN: i003i2i00041100065 SECOND HOME RIDER THIS SECOND HOME RIDER is made this 15th day of Dcccm her, 2004, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Sccun 13 I)ced (the "Security Instrument") of the same date given by the undersigned (the "Borrower") whether there arc ,mc or more persons undersigned) to secure Borrower's Note to Home Security Mortgage Cm'lmralion (the "Lender") of the same date and covering the Property described m I Itc Security Instrument (the "Property"), which is located at: 695 Henry Mountain Road Etna, WYOMING 83118 (Property Address ~ In addition to the covenants and agreements made in the .'qc,.'urny Instrument, Borrower and Lender further covenant and agree that Sections 6 and 8 of the Security Instrument :, c dclcled and are replaced by the following: 6. Occupancy. Borrower shall occupy, and shall only use, thc l'ropcrty as Borrower's second home. Borrower shall keep the Property available for Borrower's exclusive use anti on. lo)mcnt at all times, and shall not subject the Property to any timesharing or other shared ownership arrangemenl t,~ to any rental pool or agreement that requires Borrower either to rent the Property or give a management firm or anx ~,thcr person any control over the occupancy or use of the Property. 8. Borrower's Loan Application. Borrower shall be in dclhult if, during the Loan application process, Borrower or any persons or entities acting at the direction ofBorrmx cr ,,' with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements ~, I.cndc,' (or failed to provide Lender with material ~nformation) in connection with the Loan. Material representation, include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's scc,,nd home. BY SIGNING BELOW~-)Borrower accepts and agrees to d~c ~crms and covenants contained in this Second Ho ~ (Seal) ,, ~ ,-,.~ (Seal) c Robin Rothermel -Borrower Li,da Rothermel ' / -Bo~ower MULTISTATE SECOND HOME RIDER-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Page 1 of 1 IDS. Inc. - {800) 554-1872 Form 3890 1/01 PARCEL 1 fee simple: A portion of the N1F2S I/2NE1/4 of Scot/on 13, 'F3YN, R119W, 6a P.M., East from Ema, Lineoha Coungr, WToming and being more particalarly described ~ follows: BEGINNING at the B.L.M. type Monument found marking the Northwest comer of said N1/281/2NE 1/4; thence 889°31 '0Y'E 649.80 feet; thence S0o21 '44,,W 670.12 feet; theao, Ngg°33'52"W 649.80 feet, to the B.L.M. type Monument found marking the Southw~ comer of said N1/2S 1/2NE1/4; thence N0~'21 '44"E 670.65 feet, to the Point of Beginning. PARCEL 2 easement interest: With that easement for ingress and egress recorded in Book 172 P.R., Page 313 and Book 361 P.R., Page 859.