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HomeMy WebLinkAbout905900.? [Company Name] 0!07 SUNSHINE ["'D~ACi.~ CORPORATION 2401 LAKE PARK DRIVE '~ SUITE 300 ~ t~1(2C~~ ©~ ,' .", ,~ SMYRNA, GA. 3(X)80 "' 0 1 8 "~ [Name of Natural Person] 1ill CHESTER AVE [Street Address] C~-'V'~, OH 44114 [City, state Zip Code] ~SE RE-RECORD THIS DkWm WIltt CORRFLqED PAGE #3 ALREADY INSERTED DEFINITIONS R[~.E!VED 12/6/2004 at 3:10 PM RE'cE[VING ;! 905036 BOOK: 574 ....... .... PAGE: 107 JEANN~'¥VAGNER LINCOLN COUNTY CLERK, KEMMERER, WY [Space Above This Line For Recording Data] MORTGAGE M IN 100065500000168996 Words used in multiple sections of this document are defined bclm~ ',,nd olher words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding fl~e usage of words usecl in dds document are also provided in Section 16. (A) "Security Instrument" ~neans tiffs document, which is dak'd together with all Riders to aris document. December 6, 2004 (B) "Borrower"is JIM M. ABT · Borrowcr is tl~c mortgagor under fids Security Instrmnent. (C) "MERS" is Mortgage Electronic Registration Systems, lnc MERS is a separate corporation tlmt is acting solely as a nominee for Lender and Lender's successors and assigns, gl ERS is the mortgagee under this Security Instrument. MERS is organized and existing under fl~e laws of l)ehm,are, m~d has an address and telephone nmnber of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MI~RS. (D) "Lender" is SUNSHINE MORTGAGE CORP. Lenderisa THE STb~E OF GEORGIA 300, SMYRI~, GA30080 IDAN NUMBER: 2409600 corporation · Lender's adchcss is Wyondng Mm~gage-Single Fanfily-Famfie Mae/Freddie Mac UNIFORM INSTIl I'\ I I{N T --THE COMPLIANCE SOURCE, INC.-- Page 1 of 14 organized and existing under the laws of 2401 lAKE Pg_.RK DR. SUITE RECEIVED 1/14/2005 at 1:53 PM RECEIVING # 905900 BOOK: 577 PAGE: 184 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY .'. 0185 0905900 (E) "Note" means the promissory note signed by Borrower and dated D~ember 6 t The Note states that Borrower owes Lender eighty nine Lt~ousand six hundred and NO/100ths plus interest. later tlmn 2004 Dollars (U.S. $ 89,600.00 ) Borrower lms promised to pay this debt in regular Periodic Payments and to pay the debt in full not January 1, 2008 (F) "Property" means the property tlmt is described below trader the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus intc,cq. :my prepayment charges and late charges due under the Note, and all stuns due under this Security Instrmnent, l)lus interest. (H) "Riders" means all Riders to this Security Instnm~ent ~lx,t arc executed by Borrower. The following Riders are to be executed by Borrower [chock Dox os applicable]: [] Adjustable Rate Rider [] Condominium Rider [] Second Home Rider [] Balloon Rider [] Planned Unit Devclolm~Cnl Rider [] Biweekly Payment Rider [] 1-4 Fmnily Rider [] Revocable Trust Rider [] Other(s) [specify] (I) "Applicable Law" means all controlling applicable fedcr;,l, state and local statutes, regulations, ordinances and administrative rules and orders (tlmt have the effect of hm) 'ds xvcll as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessmcm¢' means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condmuinimn association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of rinds, oilier than a transaction originated by check, draft, or similar paper instrument, which is initiated through an elcc~t m ic temfinal, telephonic instrument, computer, or xnagnetic tape so as to order, instruct, or authorize a financial inslilulion to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated I oiler machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means fliose ite~ns that are described in Scdion 3. (M) "Miscellaneous Proceeds" means any compensation, scu lcmcnl, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the cox cr, gcs described in Section 5) for: (i) dmnage to, or destruction of, the Property; (ii) condemnation or other taking o r :lll or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions ',~ to, the vahie and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lendc~ against the nonpayment of, or default on, die Loan. (O) "Periodic Payment" means the regularly scheduled amutml duc for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of tlfis Security Instmmcm LOAN NUMBER: 2409600 Wyondng Mortgage-Single Family-Famfie Mae/Freddie Mac UNIFORM INSTR ! \ I I,:NT --THE COlVlPLIANCE SOURCE, INC.-- Page 2 ol' 14 MERS Modilied Form 3051 01/01 14301wY tis/00 ~2000, The Compliance Source, Inc. 0905900 (P) "RESPA" means the Real Estate Settlemenl Procedmcs Act 02 u.s.c. §26Ol et seq:) an3, i~s~ implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be mended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions thal are iinposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that l~s taken t/fie to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby m~mgage, grant and convey to lvlERS (solely-a~ nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located in the County of ~ : ff ype of Recording Jurisdiction] /Name of ~ecordlng Jurisdiction] which currently has the address of LOT 3, SHADOW DANCER [Street] A/-i:)~ , Wyoming 83128 [City] [Zip Code] ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a pan of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property.'; Borrower understands and agrees that MERS holds only legal title to tile interests granted by Borrower in thi~; Security Instnnnent, but, if necessary to comply ~4th law or custoxn, MERS (as nominee for Lender and Lender'S successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take an), action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully scised of the estate hereby conveyed and has the fight to mortgage, grant and convey the P. roperty and that the Propeny is unencmnbered, except for encumbrances of record. Borrower warrants and will defend generally the title lo file ?~ open), against all claims and demands, subject to any encumbrances of record. IDgN ~ER: 2409600 Wyoming Mortgage-Single Fmmily-Fannle M~JFreddle Mac UNIFORM INSTRIIM ENT --THE COM~,L1ANCE SOURCE, INC.-- Page 3 of 14 MERS Modified Form 3051 01/01 14]01WY OS/fl 02oo0, Th~ THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with lhnited variations by jurisdiction to constitute a tim I'~)r~n security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender coven:mt m~d agree as follows: 1. Payment of Principal, Interest, Escrow Items, l'rcl)a)ment Charges, and Late Charges. Borrower shall pay when due file principal of, and interest on, iht dcht evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also i~;t.~ funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall bc ~:Mc iu U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrmnent is returned to Lender unpaid, Lender may require that any or all subsequent payments duc nndcr the Note and this Security Instnnnent be made in one or more of the following forms, as selected by Lender: ia) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided trax stlch check is drawn upon an institution whose deposits are insured by a federal agency, instrmnentality, or entity: or Icl) Electronic Funds Transfer. Payments are deemed received by Lender when received m Iht location designated in the Note orat such other location as nmy be designated by Lender in accordance with t l~c ,~otice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial p',h~ mcnts are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient ~o bring II~e Loan current, without waiver of any rights hereunder or prejudice to its righ'ts to refuse such payment ~ p',mial payments in the future, but Lender is not obligated to apply such payments at the time such payments are acccptecl. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on un;qq)licd funds. Lender xnay hold such unapplied funds until Borrower makes payment to bring the Loan current. 11' Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return thcs ~o Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in file future against Lcmlcr shall relieve Borrower froln making payments due under the Note and tiffs Security Instrmnent or performing Irc covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as olhcrx~is¢ described in tiffs Section 2, all payments accepted and applied by Lender shall be applied in the following t~dcr o1' priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3..%ch payn~ents shall be applied to each Periodic Payment in the order in which it became due. Any remaining amcm~ts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then h~ reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinq~tcm Periodic Payment which includes a sufficient mnount to pay any late charge due, the payment may be applied tt~ ~hc delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may al)l)13 any payment received from Borrower to file repayment of the Periodic Payments if, and to the extent that, ead~ I)',L~ sent can be paid in full. To the extent that any excess exists after the payment is applied to the full paymem ~1' one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments sh;dl tlc applied first to any prepayment charges and then as described in file Note. Any application of payments, insurance proceeds, or ]Mi~ccllaneons Proceeds to principal due under file Note shall not extend or postpone file due date, or change file amotml, o1' thc Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lo,Mcr on the day Periodic Payments are due under the Note, m~til the Note is paid in full, a stun (file "Funds") to prox idc k)r payment of amounts due for: (a) taxes and assessments and other items which can attain priority over tiffs Scc~tritv Instrument as alien or encumbrance on the Property; (b) leasehold payments or ground rents on the Properb. il' any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insur;m~'c l)rcmiums, if any, or any stuns payable by Borrower to Lender in lieu of the payment of Mortgage Insurance i)~¢mitmls in accordance with the provisions of Section 10. These items are called "Escrow Items." At originaliot~ or at any time during the term of the Loan, Lender may require fist Connnunity Association Dues, Fees, and ,.\sscssments, if any, be escrowed by Borrower, I_D/klq lq[JlqBER: 2409600 Wyomhtg Mortgage-Single Fmnily-Famtie Mae/Freddie Mac UNIFORM INSTR! Il I,kNT MERS Modilied Form 3051 01/01 --THE COMPLIANCE SOURCE, INC.-- Page 4 of 1-1 14301~,¥Y 08/00 and such dues, f~es and assessments shall be an Escrow Item. Bon'oxvcr shall promptly fumish to Lender all notices of amounts to be paid under this Section. Borrower shall pa)' l,cndcr Ihe Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or fill l(scrow ltems. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at am time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when fred xx here payable, the mnounts due for any Escrow Items for which payment of Funds has been waived by Lender ,nd. il' Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender ,nay require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be dcc~ ned to be a covenant and agreement contained in this Security Instrmnent, as the phrase "covenant and agreemem" is nscd in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower lifils Io pay the mnount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such anlotmt and Borrower shall then be obligated under Section 9 to repay to Lender an), such amount. Lender may revoke: thc waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon s.ch revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an ;nnc)tmt (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed ~hc maximum amount a lender can require under RESPA. Lender shall estimate the mnount of Funds due on thc h:~sis el' current data and reasonable estimates of expenditures of future Escrow Items or othenvise in accordance u ilh ,-\l)plicable Law. The Funds shall be held in an institution whose deposits n~'c insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposils are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no Inter thau the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, :n m~,;Hlv analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the l:tmcls ;md Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applic',dflc Lau' requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnin,,,s un I lie Funds. Borrower and Lender can agree in writing, however, tlmt interest slmll be paid on the Funds. [.under shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined nndcr RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shu~'tagc el' Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA. and Borrower shall pay to Lender the mnount necessary to make up the shortage in accordance with RESPA, but in no more than 12 montldy payments. If there is a deficiency of Funds held in escrow, as defined under RESPA. I.cnder shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necess;n'x lo make up the deficiency in accordance with RESPA, but in no more than 12 montldy payments. Upon payment in full of all sums secured by this Secunb lnslrmnent, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower slmll pay all taxes, nsscssments, clmrges, fines, and ilnpositions attributable to the Propemy which can attain priority over this .%:~'tlrity Instrument, leasehold payments or ground rents on the Property, if any, and Commtmity Association Dues, Fees. and Assess~nents, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the mam~c~ provided in Section 3. Borrower slmll promptly discharge ,any lien which h:,~ l)riority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligatiun secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agrccmcnr, (b) contests file lien in good faith by, or defends against enforcement of the lien in, legal proceedings x~ hkzh in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but unly until such proceedings are concluded; or (c) ~ecures from the holder of the lien an agreement satisfactory ~(~ I.cnder subordinating the lien to this Security Instm~nent. If Lender determines tlmt any part of the Property is snh. i ccl to a lien which can attain priority over fltis Security Instrmnent, Lender may give Borrower a notice identif.~ lng thc lien. Within 10 days of the date on which LOAN NUMBER: 2409600 %Vyonfing Mortgage-Single Family-Famfie Mae/Freddie Mac UNIFORM INST R I :x I I,:,N'T NIERS Modified Form 3051 01/01 --TILE COMPLIANCE SOURCE, INC.-- Page 5 of 1-1 14.~01wY 08/00 ..... plian ........ eom Iilllllllllllllllllllllll llll Nil Il il,Ii Illlili ill O 000, Oom " .... ..... 0 )05 }00 89 that notice is given, Borrower shall satisfy the lien or take one m' more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time clmrgc t~,~' a real estate tax verification and/or reporting service used by Lender in connection with tlfis Loan. 5. Property Insurance. Borrower shall keep the imlxm cmcnts now existing or hereafter erected on the Property insured against loss by fire, hazards included within thc ~crm "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which l.cndcr requires insurance. This insurance shall be maintained in the mnounts (including deductible levels) and for thc periods that Lender requires. What Lender requires pursuant to the preceding sentences can change duri~g thc term of the' Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject lo I cnclcr's right to disapprove Borrower's choice, which right slmll not be exercised unreasonably. Lender ~nay req u i~'c Borrower to pay, in connection with this Loan, either: (a)a one-time charge for flood zone deternfination, ce~'tificmion and tracking services; or (b)a one-time charge for flood zone detemfination and certification services ;md subsequent charges each time remappings or similar changes occur which reasonably might affect such detern,n',~ion or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Entcrgcncy Management Agency in connection with the review of any flood zone determination resulting from an object io~t by Borrower. If Borrower fails to maintain any of the coverages described :~box'c, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but ntight or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against am ~isk. ha×ard or liability and might provide greater or lesser coverage titan was previously in effect. Borrower acknt>x~ ledges tlmt the cost of the insurance coverage so obtained nfight significantly exceed the cost of insurance that 13on'ower could have obtained. Any amounts disbursed by Lender under tiffs Section 5 shall become additi(mal debt of Borrower secured by this Security Instrument. These amonnts shall bear interest at the Note rate fl'tm~ Iht dale of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting lx~3 ment. All insurance policies required by Lender and renewals or such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause. :md shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and reuewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premit,ns and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, fi)t' d:m~age to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name l~cnclcr as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to thc insurance carder and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lc~dcr and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was ~ctItilt'cd by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economic:~ltv feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall lmve the ~i?.ht to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the xx~rk has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly, l,cn(Icr may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as Iht work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid ~,~ sttch insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such procecd~ }:ecs for public adjusters, or other fltird parties, retained by Borrower shall not be paid out of the insurance proceeds ',md shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrmnent. xx hclhcr or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in thc ~,dcr provided for in Section 2. If Borrower abandons the Property, Lender may file, negoti;~c a nd settle any available insmance claim and related matters. If Borrower does not respond witlfin 30 days to a m~ticc froln Lender that the insurance carder has LOAN~ER: 2409600 ~,Vyomh~g Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRI \lENT --TILE COMPLIANCE SOURCE, INC.-- Page 6 o1' 14 www~complianccsou.rce.com I ' ! ] ! ] I lll[lll[[lllll [l[l[lll[,lllll[ll:l,[llllllll,,ll MERS Modilied Form 3051 01/01 143111WY 08~00 ~2000, The Compliance Somce, Inc. O O,5 OO · 0!i 3 offered to settle a claim, then Lender may negotiate and settle thc claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Propcx'l) trader Section 22 or othenvise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance procecd~ in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) an), other of [;,,~mvcr's rights (other than the right to any refund of unearned premimns paid by Borrower) under all insurance p~li~ics covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use thc insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Securitx Insh-umcnt, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and t~c thc Property as Borrower's principal residence within 60 days after the execution of this Security Instmmcm and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date el' occupancy, unless Lender otherwise agrees in writing, Milch consent shall not be unreasonably withheld, or tmfcss cxlcnuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of thc I'roperty; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to dclc~ ioml¢ or cmmnit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maim:m~ thc Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. [l~lcss it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall i,~ Oml)tly repair the Property if damaged to avoid further deterioration or dmnage. If insurance or condenmation ptt)cccds are paid in connection with dmnage to, or the taking of, the Property, Borrower slmll be responsible for rep',ming or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is complcl~:d. 11' the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not rclicxcd o£ Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon ~tl inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on tl~c Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such rc;tsouable cause. 8. Borrower's Loan Application. Borrower shall bc i~ default if, during the Loan application process, Borrower or any persons or entities acting at the direction of B~ ~'mxcr or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or ~l',~lcmcnts to Lender (or failed to provide Lender with material information) in connection with the Loan. Matcrml representations include, but are not li~nited to, representations concerning Borrower's occupancy of the Propert3 :~s Borrower's principal residence. 9. Protection of Lender's Interest in the Property :md Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained iu this Security Instrument, (b) fl~ere is a legal proceeding that might significantly affect Lender's interest i~l thc Property and/or rights under tiffs Security Instrument (such as a proceeding in bankruptcy, probate, for comlcmm~tion or forfeiture, for enforcement of a lien which may attain priority over tlfis Security Instrument or to cnlbrcc laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatcx~:~ is reasonable or appropriate to protect Lender's interest in the Property and rights under tlfis Security Instmmem inch}ding protecting and/or assessing the value of the Properly, and securing and/or repairing the Properly. Lender's actions can include, but are not li~nited to: (a) paying any sums secured by a lien wlfich lms priority over this Security Instnm~ent; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest i~ Irc Property and/or rights under this Security Instrument, including its secured position in a bankruptcy procccdi~g. Securing the Property includes, but is not linfited to, entering the Property to make repairs, clmnge locks, l'q)ktc¢ or board up doors and windows, drain water frmn pipes, eliminate building or ofl~er code violations or dm~gc~(,t~s conditions, and lmve utilities turned on or off. Although Lender may take action under tiffs Section 9, Lender docs not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for ~t)~ taking any or all actions authorized under tiffs Section 9. LOAN~ER: 2409600 Wyonfing Mortgage-Single Family-Famde Mae/Freddie Mac UNIFORM INS'Ill t '\ 1 EN T --TFI~ COMPLIANCE SOURCE, INC.-- Page 7 t,l' 14 MERS Modified Form 3051 01/01 143OlWY o8/00 ©2000, The Compliance Souzce, Inc. ODo O g Any amounts disbursed by Lender ~der ~s Section 9 slmll become addifiong debt of Bo~ower secured by this Securi~ Ins~ment. %ese amo~ts sMll bear interest al ~l~c Note rnte from ~e ~te of disbursement ~d shM1 be payable, with such interest, upon notice from Lender to Bo~'~ o~vcr requesting payment. If tNs SecuriW Ins~nent is on a leasehold, Bo~ower shall comply with all fl~e provisions of the lease. If Bogower acquires fee title to fl~e Prope~, fl~e leasehold ~d fl~e Ibc title shnll not merge ~ess Lender a~ees to ~e merger in writing. 10. Mo~gage Insurance. If Lender reqMred Mo~gagc Insurance as a condition of m~ing fl~e Loa~ Bo~ower shall pay the pre,Mums reqMred to m~nmin fl~e Mm'l?gc Insurance in effect. If, for ~y reason, ~e Mo~gage Ins~ce coverage required by Lender ceases to be a~ailaNe from fl~e mortgage ins~er flint previously provided such ins~ce ~d Bogower was required to ~e sep:Halcly designated payments toward ~e premimns for Mo~gage Ins~ce, Borrower shall pay the premimns r~uircd ~t~ oblain coverage subst~fially equivalent to ~e Mo~gage Ins~ce previously in effect, at a cost substantially eqt~ivalonl lo the cost to Bogower of the Mortgage Instate previously in effect, from ~ Mtemate mortgage inst,'c~ sclccled by Lender. If subst~fi~ly equivalent Mo~gage Ins~ce coverage is not available, Bogower shM1 com im;c lo pay to Lender fl~e mount of the sep~ately desig~ted payments flkqt were due when flxe ins~ce coverage cc:~scd 1o be in effect. Lender will accept, use ~d retain fl~ese payments as a non-re~ndable loss resen, e in lieu or N lortgage Insur~ce. Such loss rescue shM1 be non-re~ndable, notwi~xsmding fl~e fact flint fl~e Loan is ulfimalcl5 paid in fldl, ~d Lender slmll not be required to pay Bogower ~y interest or e~ngs on such loss rese~e. Lendc~ can no longer req~re loss rescue payments if Mo~gage Ins~ce coverage (in fl~e ~ount m~d for fl~e period thai l~cnder reqtfires) provided by an ins~er selected by Lender agMn becomes available, is obtained, ~d Lender requi~'cs separately designated payments toward fl~e pre~mns for Mo~gage Ins~ce. If Lender required Mortgage l~xsm'imco as a condition of m~ing fl~e Loan ~d Bogower was required to m~e sep~ately desig~ted paymenls Iou'ard the premims for Mortgage Ins~ce, Bogower shMl pay the pre,Mums req~red to maintMn Mo~gage l ttst~-.a~,co in effect, or to provide a non-reMndable loss rescue, until Lender's reqMrement for Mortgage Instance c~tls in accordm~ce wifl~ ~y wrilten a~eement between Borrower ~d Lender providing for such tenni~fion o~' tmtil termination is required by Applicable Law. Nothing in tiffs Section 10 ~ects Borrower's obligation to pay inlc~csl at the rote provided in ~e Note. Mortgage Ins~ce reimb~ses Lender (or ~y enti~, tl~a~ lmm'chases the Note) for ce~ain losses it may incur ifBogower does not repay the Lo~ as a~eed. Bogower is ttol il party lo the Moagage Ins~ce. Mo~gage ins~ers evaluate fl~eir totM risk on all such inst~m~ce in force from time to time, ~d may enter into a~eements wifl~ other p<ies flint shine or modi~ their risk. ,,~ ~'cduco losses. ~ese a~eements ~e on terms ~d conditions flint ~e satisfacto~ to the mortgage ins~er and ~l~c olher party (or panics) to these agreements. ~ese agreements nmy require ~e mo~gage ins~er to m~e pa) mc~ls using m~y source of Mnds flint fl~e mortgage ins~er may have available (wNch nmy include Mnds obtained from N lo ri gage lusur~ce premimns). As a result of these a~eements, Lender, ~y purchaser of ll~c Nole, another ins~er, ~y reins~er, ~y other enfiW, or ~y a~liate of any of the foregoing, may receive (di~cctlv or indirectly) amounts flint derive from (or might be ch~acterized as) a potion of Borrower's payments fo~' N lo~-~gage Ins~ce, in exch~ge for sh~ng or modi~ing fl~e mo~gage ins~er's risk or reducing losses. If guclt ago'cement provides that ~ ~liate of Lender t~es a shoe of the ins~er's risk in exclmge for a shoe of lhe N'cmiumg paid to fl~e ins~er, fl~e a~gement is o~en termed "captive reins~ce." F~er: (a) Any such agreements will not affect the amounts thai Borrower has agreed to pay for Mo~gage Insurance, or any other terms of the Loan. Such agreements ~ ill not increase the amount Borrower will owe for Mo~gage Insurance, and they will not entitle Borrower to :m> refund. (b) Any such agreements ~ll not affect the righls I~or~'~nver has - if any - with respect to the Mo~gage Insurance under the Homeowners Protection Act ~1' 1998 or any other law. These rights may include the right to receive ce~ain disclosures, to request and oIHain cancellation of the Mo~gage Insurance, to have the Mo~gage Insurance terminated automatically, ami/or to receive a refund of any Mo~gage Insurance premiums that were unearned at the time of such c;mccllalion or termination. LOAN NUNBER: 2409600 Wyomh~g Mortgage-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRI:M I:.NT --THE COMPLIANCE SOURCE, INC.-- Page 8 of 14 ..... ............ Ig l][llllll l ll lll!llllllllllllil;lllll MERS Modified Fomn 3051 01/01 14301wY 08100 ©2000, The Compliance Sotuce, Inc. 11. Assignment of Miscellaneous Proceeds; For%il,re. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Procecch, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and l.cnclcr's security is not lessened. During such repair and restoration period, Lender shall have the right to hold stroh Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has bccn completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender max pay for the repairs and restoration in a single disbursement or in a series of progress pay~nents as the work is conqfl¢lcd. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellanco,s Proceeds, Lender shall not be required to pay Borrower any interest or e,'u-nings on such Miscellaneous Procecds. If tl~e restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous; Procccds shall be applied to the sums secured by this Security Instnm~ent, whether or not then due, with the excess, il' any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in valuc ol' thc Property, the Miscellaneous Proceeds shall be applied to the stuns secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of thc Property in which the fair nmrket value of the Property immediately before the partial taking, destruction, or h,s~ in value is equal to or greater than the amount of the stuns secured by tiffs Security Instrmnent i~mnediately bclb~c Ifc partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums sccured by this Security Instrmnent shall be reduced by the mnotmt of the Miscellaneous Proceeds multiplied b~ fi~c following fraction: (a) the total anmunt of the stuns secured immediately before the partial taking, destrucdo~t, or loss in value divided by (b) the fair nmrket value of the Property immediately before the partial taking, destr,ct ion. or loss in value. Any balance shall be paid to Borrower. In the event ora partial taking, destruction, or loss in val t~e o1' tl~e Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amotmt of the sums secured innnediately before file partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, file Miscellaneous Proceeds shall be applied Ic~ thc sums secured by tiffs Security Instrmnent whether or not thc stuns are then due. If the Property is abandoned by Borrower, or if, after nol icc tax' l.ender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to selllc a claim for damages, Borrower fails to respond to Lender witiffn 30 days after the date the notice is given, Lender is imthorizcd to collect and apply tile Miscellaneous Proceeds either to restoration or repair of tile Property or to tile sums secured by tiffs Security Insmm~ent, whether or not then due. "Opposing Party" means tile tiffrd party that ox~cs l¢orrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Mi scell:mc~t~s Proceeds. Borrower shall be in default if any action or proceedi~tg, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or o~ hc~ material impairment of Lender's interest in the Property or rights under this Security Instnnnent. Borrower cmt cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the aclio;~ or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or olhcl malcrial impairment of Lender's interest in the Property or rights under fids Security Instrmnent. The proccctl~ t)f any award or claim for damages that are attributable to the impairment of Lender's interest in file Property arc hereby assigned and slmll be paid to Lender. All Miscellaneous Proceeds that are not applied to resto~'at ion o,' repair of the Properly shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Nm a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Secm itv lnstruxuent granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release thc liability of Borrower or any Successors in Interest of Borrower. Lender sltall not be required to commence proceedings against any Successor in Interest of LOAN NUP~ER: 2409600 Wyon~g Mortgage-Single Family-Famfie Mae/Freddie Mac UNIFORM INSTIll X I I,;NT MERS Moditiefl Form 3051 01/01 --THE COMPLIANCE SOURCE, INC.-- Page 9 of 1 4 14301WY 08100 Borrower or to refuse to extend time for payment or otherwise re(MiR' amortization of the sums secured by this Security Instrument by reason of any demand made by the origi~,,I Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any fight or rClncdy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors i~t I~,crcst of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise el' ',my right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and scxcra I. I fowever, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (:0 is co-sigifing tiffs Security Instrument only to mortgage, grant and convey the co-signer's interest in the Properly' trader the terms of tiffs Security Instrument; (by is not personally obligated to pay the sums secured by tiffs Securilx Instrt|ment; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any ,cc~mmlodations with.regard to the terms of this Security Instrument or the Note without file co-signer's consent. Subject to the provisions of Section 18, any Successor i~ Inlcrest of Borrower who assumes Borrower's obligations under tiffs Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under tiffs Security Instnnnent. Borrower shall not bc released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrtunent shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fccs for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest it~ thc Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inN)cction and valuation fees. In regard to any other fees, the absence of express authority in this Security Instm,,cnl to charge a specific fee to Borrower shall not be construed as a prolffbition on the charging of such fee. Lender' m',~ 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, aud that law is finally interpreted so that the interest or other loan charges collected or to be collected ill com~cction with the Loan exceed the permitted limits, then: (ay any such loan clmrge shall be reduced by Irc :mIt)trot necessary to reduce the charge to the permitted liufft; and Co) any sums already collected from Borrower ix hich exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing thc principal owed under file Note or by making a direct payment to Borrower. If a refund reduces principal, file reduction will be treated as a partial prepayment without any prepayment clm.rge (whether or not a prepayment chal~,,c is provided for under file Note). Borrower's acceptance of any such refund made by direct payment to Borroxx ~.~' xxill constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender i, cmmcclion with this Security Instrument must be in writing. Any notice to Borrower in connection with tiffs Securitx l~lsmm~ent shall be deemed to have been given to Borrower when mailed by first class mall or when actually felix ct ~d to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Ilorrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Adch ess tmlcss Borrower has designated a substitute notice address by notice to Lender. Borrower slmll promptly notil'x l.cndcr of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of adch ess. then Borrower shall only report a change of address through that specified procedure. There may be only o~t~' designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mall to Lender's address stated herein Ludess Lender Ires designated anodizer ',Mdress by notice to Borrower. Any notice in connection with tiffs Security Instrmnent shall not be deemed to haxc bccn given to Lender until actually received by Lender. If any notice required by this Security Instrmnent is als(, required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under Iris %cct,rity Instrument. 16. Governing Law; Severability; Rules of Constructi.n. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained LOAN NUMBER: 2409600 %Vyon~g Mortgage-Single Family-Famfie Mae/Freddie Mac UNIFORM INSTRI \II':NT --THE COMPLIANCE SOURCE, 1NC.-- Page 10 of l.l I ~ MERS Modified Form 3051 01/01 14301wY 08100 ©2000, The Compliance Souxce, Inc. , ,. 0!94 in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract ~,~' ii m ighi be silent, but such silence shall not be construed as a prohibition against agreement by contract. In tile ctcm lhal any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflic~ sh',dl not affect other provisions of this Security Instrument or the Note which can be given effect without the confl icl i~g provision. As used in this Security Instrument:. (a)words of thc masculine gender slmll mean and include corresponding neuter words or words of the feminine gender; (b) ix or'ds in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion xxi~hot,t any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one cop3 o1' Irc Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in lhn'rower. As used in tiffs Section 18, "Interest in the Property" means any legal or beneficial interest in the Propcn3. including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installmc. I s:~lcs contract or escrow agreement, tile intent of which is the transfer of title by Borrower at a future date to a pmd~:~ser. If all or any part of the Property or any Interest in file Propc~I3 is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or tran~t'crrccl) without Lender's prior written consent, Lender may require inm~ediate payment in full of all stuns secured l)x Iris Security Instrument. However, tlfis option shall not be exercised by Lender if such exercise is prohibited by Appl icabl¢ Law. If Lender exercises tlfis option, Lender shall give Borroxxc~ ~)~ icc of acceleration. The notice slmll provide a period of not less than 30 days from the date the notice is give, i. accor&mce with Section 15 within wlfich Borrower must pay all stuns secured by tiffs Security Instrument. 1I' llorrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrmnent without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. 11' Borrower meets certain conditions, Borrower shall have file right to have enforcement of this Security Instnnuem discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of s:~lc cmmtincd ill tiffS Security Instrmnent; (b) such other period as Applicable Law might specify for the ternfination o1' Borrower's right to reinstate; or (c) entry of a judgment enforcing tiffs Security Instruinent. Those conditions arc theft Borrower: (a) pays Lender all sums which then would be due under this Security Instrmnent and file Note as il' t~o acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses i.cm'rcd in enforcing this Security Instrmnent, including, but not limited to, reasonable attorneys' fees, property inspcctiou and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Propcrl.x and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure th:, l.c,tclcr's interest in file Property and rights under tiffs Security Instrmnent, and Borrower's obligation to pa)' thc stuns secured by this Security Instrmnent, slmll continue nnchanged. Lender nmy require tlmt Borrower pay such roi,statement stuns and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money o~dcr: (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon :m institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Tl';ms{'cr. Upon reinstatement by Borrower, this Security Instrmnent and obligations secured hereby shall remain full~ cf£cclive as if no acceleration had occurred. However, tlfis right to reinstate slmll not apply in file case of accele,",~lion m~der Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Ccicva,ce. The Note or a partial interest in the Note (together with tlfis Security Insmm~ent) can be sold one or mc, c ~imcs without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") th:~l collects Periodic Payments due under the Note and tiffs Security Instrmnent and performs other mortgage lo:m servicing obligations under the Note, this Security Instrmnent, and Applicable Law. There also might be one o~' more clumges of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Bo~t)x~c~- will be given written notice of the change which will state the name and address of the new Loan Servicer, thc :~cldrcss to which payments should be made and any other information RESPA requires in connection with a notice o1' trans£¢r of servicing. If the Note is sold and thereafter file Loan is serviced by a Loan Servicer other than file l)tHch:lscr of tile Note, the mortgage loan servicing LOAN NUMBER: 2409600 Wyonth~g Mortgage-Single Fanfily-Fannie Mae/Freddie Mac UNIFORM INSTI~I~:M I,;,'.;T MERS Modified Form 3051 01/01 --TILE COMPLIANCE SOURCE, INC.-- Page 11 of l 4 ~4~op. vY os/oo obligations to Borrower will remain with the Loan Servicer or be tr:msl'crrcd to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by thc Nolo lmrchaser. Neither Borrower nor Lender may commence, join, or bc .joincd lo any judicial action (as either an individtml litigant or the member of a class) that arises from thc ~,thcr party's actions pursuant to this Security Instrument or that alleges that fl~e other party has breached any prox ision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notificd ~hc other party (with such notice given in compliance with the requirements of Section 15) of such allegcd t~xcach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective ac~ ion. If Applicable Law provides a time period which ~nust elapse before certain action can be taken, flint time perit~d will Dc deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cu,'c given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section I,~ shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (:~) "1 la/~rdous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Enxi~ ~mmcntal Law and the following substances: gasoline, kerosene, other flanunable or toxic petroleum products, toxic pcsticides and herbicides, volatile solvents, mater/als containing asbestos or formaldehyde, and radioactive nmtc~i:ds'. (b)"Enviromnental Law" means federal laws and laws of the jurisdiction where the Property is located ~h:~t ,'elate to health, safety or environmental protection; (c)"Environmental Cleanup" includes any response acm)n, rcmedial action, or removal action, as defined in Environmental Law; and (d) an "Enviromnental Conditio:~" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or pernfit the presence, use, cli,q)osal, storage, or release of any Hazardous Substances, or tlu:eaten to release any Hazardous Substances, on or in ~l~c Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in x'i~l~tion of any Environmental Law, (b) which creates an Environmental Condition, or (c) Milch, due to the presc~tcc, usc, or release of a Hazardous Substance, creates a condition flint adversely affects the value of the Property. Thc prcccding two sentences shall not apply to the presence, use, or storage on the Property of small quantitics t~l' ttazardous Substances that are generally recognized to be appropriate to normal residential uses and to mlti~}lcu',lnc¢ of the Property (including, but not linfited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (;~) ;my investigation, claim, denmnd, lawsuit or other action by any govermnental or regulatory agency or private l):~t.~ inx'oMng the Property and any Hazardous Substance or Enviromnental Law of which Borrower has actual k~oxvlcclge, (b) any Environmental Condition, including but not linfited to, any spilling, leaking, discharge, releasc tt~ ~hrcat o£ release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a lq:~/:~rdous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any govcrntxxcntal or regulatory authority, or any private party, that any removal or other mmediation of any Hazardous St~l)~,l',lnc¢ affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accord:mcc with Environmental Law. Nothing herein shall create any obligation on Lender for an Enviromnental NON-UNIFORM COVENANTS. Borrower and Lender fi~thcr covcnant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice m lire'rower prior to acceleration following Borrower's breach of any covenant or agreement in this Securit3 Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). Thc n,tice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 31} d;l)s from the date the notice is given to Borrower, by which the default must be cured; and (d) that faih~rc to cure the default on or before the date specified in the notice may result in acceleration of the sums secu ccd 19' this Security Instrument and sale of the Property. The notice shall further inform Borrower of the ,'i~ht to reinstate after acceleration and the right to bring a court action to assert the non-existence of a dc{';ml! or any other defense of Borrower to acceleration and sale. If the default is not cured on or before Ibc date specified in the notice, Lender at its LOAN NUMBER: 2409600 Wyonfing Mor~gage-Single Fa~nily-Famfle Mae/Freddie Mac UNIFORM INSTRIiMI.;'~I' --THE COMPLIANCE SOURCE, INC.-- Page 12 of 14 ~ I MERS Modined Form 3051 01/01 14~IOIWY 08/00 ID2000, The Compliance Source. Inc. option may require immediate payment in full of ali sums secured by this Security Instrument without further demand and may invoke the power of sale and any olhcr rcmcdics permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in purstting thc remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs .f title evidence. If Lender invokes the power of sale, Lender shall give m,iicc of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordam'c Mth Applicable Law. Lender shall give notice of the s',de to Borrower in the manner provided in Sectio, 15. l.euder shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Apl~ticablc Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall bc applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable all.rncys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons lc~;Hly entitled to it. /. 23. Release. Upon payment of all sums secured by this ,qccm-ity Instmlnent, Lender shall release ~is Security Instrmnent. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrmnent, but only if the fee is paid to a tlzird party for scrviccs rendered and the charging of the fee is pernfitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights inkier and by virtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to thc tcr ms and covenants contained in tiffs Security Instrument and in any Rider executed by Borrower and recorded wilh it. Witnesses: Printed Name: (,"/o./~ t ABT (Seal) -Borrower [Please Complete] Printed Name: [Please Complete] (Seal) -Borrower (Seal) -Borrower [Acknowledgment on Following P,-~ge] (Seal) -Borrower LOAN NUMBER: 2409600 /Vyomh~g Mortgage-Single Family-Famde Mae/Freddie Mac UNIFORM INSTRUMKNT --TI~; COMPLIANCE SOURCE, INC.-- Page 13 of 14 MERS Modified Form 3051 01/01 143OlW'Y 08/00 ~2000, The Compliance Sore-ce, Inc. State of 7'~-'V~ gl~ County of 30pc t,.k 5 O k) § Before me the undersigned authority, on this day personally 97 JD,I M 323T 0 *0 known to me (or proved to me tln:ough an identity card or other doctmlcm) ' to be the person(s) whose nmne is subscribed to the foregoing insmm ~cm. and aclmowledged to me that he/she/they executed the stone for the purposes and consideration therein expressed. Given under my hand and seal on this ~;t~ (Seal) S"~ USAN BURROW Notary Public ~a~.~ STATE OF TEXAS My Ccmm~ission Expires: LOAN NUb4BE~R: 2409600 Wyonfing Mo~gage-Single Family-Famtie Mae/Freddie Mac UNIFORM INSTRUMENT --TILE COMPLIANCE SOURCE, INC.-- MERS Modilied Form 3051 01/01 www.comphancesource.com Page 14 of 14 14301wy o8/00 ~2000, The Compliance Source, Inc. 0:90 ':900 Exhibit A ", - 01 9 8 Lot 3 of Shadow Dancer Estates Subd vision, Lincoln County, Wyoming as described on the official plat thereof 0 05 00 · 99 LOAN NUMBER: 2409600 1-4 FAMILY RI DER (Assignment of Rents) 100065500000168996 THIS 1-4 FAMILY RIDER is made this 6th day of December, 2004 and is incorporated into and shall be deemed to amend and supplc~,,cm the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by ~l,c undersigned (the "Borrower") to secure Borrower's Note to SUNSHINE MOR~ CORP. (the "Lender") of the same date and covering the Property described in the Securib' I,,strument and located at: LOT 3 S~ D3lqCER, AI~Ii,I[,i, WY 83128 [Property Address.] Muitistate 1-4 Family Rider--Fannie Mae/Freddie Mac UNIFORM INSTRUM Ex, I --THE COMPLIANCE SOURCE, INC.-- Page 1 of 3 ........ pli ............. Illlllllll]ll][lllll lllllllllllil]ll[[lilil 1-4 FAMILY COVENANTS. In addition to the coven:mrs al~d agreements made in the Security Instrument, Borrower and Lender further covenant and agree as folluws: A. ADDITIONAL PROPERTY SUBJECT TO THE NI.iCUI~,ITY INSTRUMENT. In addition to the Property described in Security Instrument, the following items m~w or hereafter attached to the Property to the extent they are fixtures are added to the Property description, and .ql:tll also constitute the Property covered by the Security Instrument: building materials, appliances and goods of every nature whatsoever now or hereafter located in, on, or used, or intended to be used in connection with the Propc~ ty, including, but not limited to, those for the purposes of supplying or distributing heating, cooling, electricity, [~;~s, water, air and light, fire prevention and extinguishing apparatus, security and access control apparatus, p I tm thing, bath tubs, water heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers, disposals, washers, dryers, awnings, storm windows, storm doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, c~s/)incts, paneling and attached floor coverings, all of which, including replacements and additions thereto, shall bc dccmcd to be and remain a part of the Property covered by the Security Instrument. All of the foregoing togetl~cr wilh the Property described in the Security Instrument (or the leasehold estate if the Security Instrument is on :t leasehold) are referred to in this 1-4 Family Rider and the Security Instrument as the "Property." B. USE OF PROPERTY; COMPLIANCE WITH LAX\'. Borrower shall not seek, agree to or make a change in the use of the Property or its zoning classification, unless I.cndcr has agreed in writing to the change. Borrower shall comply with all laws, ordinances, regulations ',t~d requirements of any governmental body applicable to the Property. C. SUBORDINATE LIENS. Except as permitted by Icdc,'al law, Borrower shall not allow any lien inferior to the Security Instrument to be perfected against the ProperLy without Lender's prior written permission. Initials:/~ Form 3170 01/01 ~4so~u os~oo ¢2000, Th~ Compliance Source, Inc. D. RENT LOSS INSURANCE. Borrower shall maim;[i~ insurance against rent loss in addition to the other hazards for which insurance is required by Section 5. E. "BORROWER'S RIGHT TO REINSTATE" DEI.I.i'I'ED. Section 19 is deleted. F. BORROWER'S OCCUPANCY. Unless Lender ~md Bo,'rower Otherwise agree in writing, Section 6 concerning Borrower's occupancy of the Property is deleted. G. ASSIGNMENT OF LEASES. Upon Lender's retlUC:~t after default, Borrower shall assign to Lender all leases of the Property and all security deposits made in core,teflon with leases of the Property. Upon the assignment, Lender shall have the right to modify, extend or tcr,~finatc the existing leases and to execute new leases, in Lender's sole discretion. As used in this paragraph (;, tl~c word "lease" shall mean "sublease" if the Security Instrument is on a leasehold. H. ASSIGNMENT OF RENTS; APPOINTMENT 1)1,' RI:~CE1VER; LENDER IN POSSESSION. Borrower absolutely and unconditionally assigns and transfers t{~ l.cnctcr all the rents and revenues ("Rents") of the Property, regardless of to whom the Rents of the Properb' :trc payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenan~ t~l' ~l~c Property shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rent~ u~til (i) Lender has given Borrower notice of default pursuant to Section 22 of the Security Instrument and (ii) I cnctcr has given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agent. This assignn~c~t of Rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notices of default to Borrower: (i) all I{cnts received by Borrower shall be held by Borrower as trustee for the benefit of Lender only, to be applied to thc sums secured by the Security Instrument; (ii) Lender shall be entitled to collect and receive all of the Renl~ ~t' thc Property; (iii) Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lcmlcr or Lender's agents upon Lender's written demand to the tenant; (iv) unless applicable law provides othcrxx isc, all Rents collected by Lender or Lender's agents shall be applied first to the costs of taking control of anti II~:tll;tging the Property and collecting the Rents, including, but not limited to, attorneys' fees, receiver's fcc~. prcnfiums on receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments and ~tl~c~' cha,'ges on the Property, and then to the sums secured by the Security Instrument; (v) Lender, Lender's ',t~!cms or any judicially appointed receiver shall be liable to account for only those Rents actually received; and (.xi) Lender shall be entitled to have a receiver appointed to take possession of and manage the Property and collect the Rents and profits derived from the Property without any showing as to the inadequacy of the Propcrb' :ts security. If the Rents of the Property are not sufficient to cover ~l~c costs of taking control of and managing the Property and of collecting the Rents any funds expended by Lend~'~· I'or such purposes shall become indebtedness of Borrower to Lender secured by the Security Instrument pursmml ~o ~cction 9. Borrower represents and warrants that Borrower has not cxccutcd any prior assignment of the Rents and has not performed, and will not perform, any act that would prcx c~t kcndcr fi'om exercising its rights under this paragraph. LOAN NUMBER: 2409600 Multistate 1-4 Family Rider--Fannie Mae/Freddie Mac UNIFORM INSTRUM 115,1' --THE COMPLIANCE SOURCE, INC.-- Page 2 of 3 Initials: // Form 3170 01/01 14503MU 08/00 ©2000, Thc Compliance Source, Inc. Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter upon, take control of or maintain the Property before or after giving notice o1' default to Borrower. However, Lender, or Lender's agents or a judicially appointed receiver, may do so at a~>' l iH~c when a default occurs. Any application of Rents shall not cure or waive any default or invalidate any oihct' right or remedy of Lender. This assignment of Rents of the Property shall terminate when all the sums secm'cd b5' thc Security Instrument are paid in full. I. CROSS-DEFAULT PROVISION. Borrower's dcl';~ult or breach under any note or agreement in which Lender has an interest shall be a breach under the Securil>' l~strt,ment and Lender may invoke any of the remedies permitted by the Security Instrument. BY SIGNING BELOW, Borrower accepts and agrees tt) tl~c terms and provisions contained in this 1-4 Family Rider. (Seal) (Seal) -Borrower -Borrower (Seal) _ (Seal) -Borrower -Borrower LOAN NUMBER: 2409600 Multistate 14 Family Rider--Fannie Mae/Freddie Mac UNIFORM INSTRUXl I~NT --THE COMPLIANCE SOURCE, INC.-- Page 3 of 3 Form 3170 01/01 14~03MI3 ©2000, Th~ Compliance Soarce, Inc.