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Home My WebLink About914950 /j.'i ~::·~·I·"ft,i". !t"'fl.'~ ~.I",I,tl .:,H·r",!"',Ttl,l. rnO'8-t 9 ',,-, \')' .l RECEIVED 1/3/2006 at 4:31 PM RECEIVING # 914950 BOOK: 608 PAGE: 819 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER:~___ ob AFTER RECÒRDING PLEASE RETURN TO: FHHLC - POST CLOSING MAIL ROOM 1555 W. WALNUT HILL LN. #200 MC 6712 IRVING, TX 75038 I MORTGAGE 0056583024 THIS MORTGAGE is made tlùs 23rd day of December 2005 KATHRYN C. HORSLEY, A Married Woman, As His Sole & Separate Property , between llie Mortgagor, FIRST HORIZON HOME LOAN CORPORATION (herein "Borrower"), and tlle Mortgagee, existing under tlle laws of THE STATE OF KANSAS , a corporation organized and , whose address is 4000 Horizon Way, IRVING, TX 75063 (herein "Lender"). W~EREAS, Borrower is indebted to Lender in the principal sum of U.S. $ 116,250.00 , wlùch indebtedness is evidenced by Borrower's note dated December 23rd, 2005 and extellSions and renewals thereof (herein "Note"), providing for monthly installments of principal and interest, with the balance of indebtedness, if not sooner paid, due and payable on January 1st, 2021 TO SECURE to Lender tlle repayment of the indebtedness evidenced by tlle Note, willi interest tllereon; the payment of all otller SUIllS, with interest thereon, advanced in accordance herewith to protect tlle security of tlùs Mortgage; and the performance of the covenants and agreements of Borrower herein contained, Borrower does hereby mortgage, grant and convey to Lender, witll power of sale, the following described property located in tlle County of Lincoln State of Wyoming: All that tract or parcel of land as shown on Schedule "A" attached hereto which is incorporated herein and made a part hereof. '-,' wlùch has the address of AFTON 83218 HIGHWAY 89 [City], Wyoming 83110 [Street] , [Zip Code] (herein "Property Address"); TOGETHER Witll all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances and rents, all of wlùch shall be deemed to be and remain a part of the property covered by tlùs Mortgage; and all of the foregoing, togetller with said property (or tlle leasehold estate if tIùs Mortgage is on a leasehold) are hereinafter referred to as the "Property." Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has tIle right to mortgage, grant and convey the Property, and that the ~roperty is unencwnbered, except for encwllbranc,es of record. Borrower covenants that Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to encumbrances of record. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal and interest indebtedness evidenced by tlle Note and late charges as provided in the Note. 2. Funds for Taxes and Insurance. Subject to applicable law or a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments of principal and interest are payable under the Note, until the Note is paid in full, a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments (including condonùnium and planned Ulùt development assessments, if any) wlùch may attain priority over tIús Mortgage and ground rents on the Property. if any, plus one-twelfth of yearly pre11ÙUlll illStallments for hazard insurance, plus one-twelftll of yearly prenùum installments for mortgage insurance, if any, all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates tIIereof. Borrower shall not be obligated to make such payments of Funds to Lender to the extent that Borrower makes such payments to tIle holder of a prior mortgage or deed of trust if such holder is an institutional lender. WYOMING - SECOND MORTGAGE - 1/80 - FNMA/FHLMC UNIFORM INSmUMENT . -76(WY) (0308) I!> Page 1 0(4 VMP Mortgage Solutions (800)521-7291 / ,~1¡. ,," ,r\ {\ 01 8 ;:~. 0 '.... \J' ÞOov If Borrower pays Funds to Lender, the Funds shall be held in an institution the deposits or accounts of willch are insured or guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay said taxes, assessments. insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, allalyzing said account or verifying and compiling said assessments and bills, unless Lender pays Borrower interest on the Funds and applicable law pemúts Lender to make such a charge. Borrower and Lender lllay agree in writing at the time of execution of tills Mortgage that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable law requires such interest to be paid, Lender shall not be required to pay Borrower any interest or eanúngs on the Funds. Lender shall give to Borrower, without charge, an alUlUal accounting of the Funds showing credits and debits to the Funds and the purpose for wlúch each debit to the Funds was made. The Funds are pledged as additioual security for the sums secured by tlús Mortgage; If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior to the due dates of taxes, assessments, insurance prenúluns and ground rents, shall exceed the amount required to pay said taxes, assessments, insurance prel1Úums and ground rents as they fall due, such excess shall be, at Borrower's option, either promptIy repaid to Borrower or credited to Borrower on montWy installments of Funds. If the amount of the Funds held by Lender shall not be sufficient to pay taxes, assessments, insurance prenúums and ground rents as they fall due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as Lender may require. Upon payment in full of all SlUns secured by tlús Mortgage, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 17 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender shall apply, no later tIlan immediately prior to tIle sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the SUlllS secured by tills Mortgage. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs 1 and 2 hereof shall be applied by Lender first in payment of amounts payable to Lender by Borrower under paragraph 2 hereof, then to interest payable on the Note, and then to the principal of the Note. 4. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform all of Borrower's obligations under any mortgage, deed of trust or other security agreement with a lien wlúch has priority over this Mortgage, including Borrower's covenants to make payments when due,. Borrower shall payor cause to be paid all taxes, assessments and other charges, tines and impositions attributable to the Property wlúch may attain a priority over tIús Mortgage, and leasehold payments or ground rents, if any. 5. Hazard Insurance. Borrower shall keep tIle improvements now existing or hereafter erected on the Property insured agaulSt loss by fire, hazards ulcluded within tIle term "extended coverage," and such other hazards as Lender may require and in such amounts and for such periods as Lender may require. The insurance carrier providing tIle ulSurance shall be chosen by Borrower subject to approval by Lender; provided, that such approval shall not be unreasonably withheld. All insurance policies and renewals thereof shall be UI a foml acceptable to Lender and shall include a standard mortgage clause Ul favor of and in a form acceptable to Lender. Lender shall have the right to hold the policies and renewals thereof, subject to tIle tenns of any mortgage, deed of trust or other security agreeIilent with a lien wlúch has priority over this Mortgage. In the event of loss, Borrower shall give prompt notice to the ulSurance. carrier and Lender. Lender may make proof of loss if not made promptIy by Borrower. If the Property is abandoned by Borrower. or if Borrower fails to respond to Lender witIún 30 days from the date notice is mailed by Lender to Borrower that the insurance carrier oftèrs to settle a claim for insurance benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Property or to the stuns secured by tIús Mortgage. 6. Preservation and Maintenance of Property; Leaseholds; Condomininms; Planned Unit Developments. Borrower shall keep the Property Ul good repair and shall not conlllÚt waste or pemút unpaimlent or deterioration of the Property and shall comply with the provisiollS of any lease if tIús Mortgage is on a leasehold. If tIus Mortgage is on a unit in a condomÎlúum or a plalmed lIlÚt development, Borrower shall perform all of Borrower's obligatiollS under the declaration or covenants creating or govenúng the condol1ÚlÚtull or plalmed lIlÚt development, the by-laws and regulati01lS of the condonúlúum or planned unit development, and constituent documents. 7. Protection of Lender's Security. If Borrower fails to perfoml the covenants and agreements contained Ul tIús Mortgage, or if any action or proceeding is conullenced wlúch materially affects Lender's interest in the Property, then Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse such StullS, including reasonable attomeys' fees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition of maJång the loan secured by tIús Mortgage, Borrower shall pay the prenúU1llS required to maintain such insurance in effect until such tune as the requirement for such insurance ter11Ú1lates in accordance with Borrower's and Lender's written agreement or applicable law. Any amounts disbursed by Lender pursuant to tIús paragraph 7, WitIl interest thereon. at tIle Note rate, shall become additioual ulllebtedness of Borrower secured by tIús Mortgage. Untess Borrower and Lender agree to other temlS of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. NotIúng contauled in tIús paragraph 7 shall require Lender to incur any expellSe or take any action hereunder. 8. Inspection. Lender may make or calise to be made reasonable entries upon and u1SpectiollS of the Property, provided that Lender shall give Borrower notice prior to any sllch u1Spection specifying reasonable cause therefor related to Lender's interest in tile Property. 9. Condemnation. The proceeds of any award or claun for damages, direct or cOllSequential, in connection with any cOlldenmation or other taking of the Property, or part thereof, or for conveyance Ul lieu of condemnation, are hereby assigned and shall be paid to Lender, subject to tIle terms of any mortgage, deed of trust or other security agreement with a lien wlúch has priority over tills Mortgage. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extel1Sion of the time for payment or modification of amortization of the sums secured by tIús Mortgage granted by Lender to any successor Ul ulterest of Borrower sha11 not operate to release, in any manner, the liability of tile original Borrower and Borrower's successors in interest. Lender sha11 not be requiredlo conunence proceedings agaÌ1lSt such successor or refuse to extend time for payment or otherwise modify amortization of the SlllIlS secured by tlús Mortgage by reason of any demand made by tile original Borrower and Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy hereunder, or otIlerwise afforded by applicable law, sha11 not be a waiver of or preclude the exercise of any such right or remedy. 0056583024 ª~~~~j~ Fonn 3851 ~".,- . -76(WY} (0308) <I> Pnge20(4 ~,) ..\ ~:.;~::;:::~ ~i:::::::::r::~:::k:~ C00821 11. Successors and Assigns Bound; Joint amI Sevel"al Liability; Co-signers. The covellants and agreements herein contained shall bind. and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several. Any Borrower who co-signs tIus Mortgage, but does not execute the Note, (a) is co-sigtung tIus Mortgage only to mortgage, grant and convey that Borrower's interest in the Property 'to Lender under the tenus of tIus Mortgage, (b) is not personally liable on the Note or under tlus Mortgage, and (c) agrees that Lender and any otIter Borrower hereunder may agree to extend, modify, forbear, or make any other accommodations with regard to the tenns of tIùs Mortgage or tIle Note without tI13t Borrower's consent and without releasing tIlat Borrower or modifying tIùs Mortgage as to that Borrower's interest in the Property. 12. Notice. Except for any notice required under applicable law to be given in another matU1er, (a) any notice to Borrower provided for in tlùs Mortgage shall be given by delivering it or by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as Borrower may desigllate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in tlus Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner desigllated herein. 13. Governing Law; Severability. The state and local laws applicable to tIùs Mortgage shall be the laws of the jurisdiction in wluch the Property is located. The foregoing sentence shall not liuùt the applicability of federal law to this Mortgage. In the event that any provision or clause of this Mortgage or the Note conflicts WitII applicable law, such conflict shall not affect other provisions of tIus Mortgage or the Note wluch can be given effect without the conflicting provision, and to tI1Ís end the provisions of this Mortgage and the Note are declared to be severable. As used herein, "costs," "expeI1~es" and "attorneys' fees" include all swus to tile extent not prolubited by applicable law or linùted herein. 14. Borrower's Copy. Borrower shall be furnished a confonned copy of the Note and of tI1Ís Mortgage at the time of execution or after recordation hereof. 15. Rehabilitation Loan Agreement. Borrower shall ti.llfill all of Borrower's obligations wIder any home rehabilitation, improvement, repair, or other loan agreement wluch Borrower enters into with Lender. Lender, at Lender's option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses wlùch Borrower may have against parties who supply labor, materials or services in connection with improvements made to the Property. 16. Transfer of the Propel'ty or a Beneficial Interest in Borrower. If all or any part of tIle Property or any interest in it is sold or tralisferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by tlùs Mortgage. However, tltis option shall not be exercised by Lender if exercise is proltibited by federal law as of the date of tItis Mortgage. If Lender exercises tItis option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed witItin which Borrower must pay all sums secured by tItis Mortgage. If Borrower fails to pay these swus prior to the expiration of this period, Lender may invoke any remedies permitted by this Mortgage without further notice or demand on Borrower. NON-UNIFORM COVENANTS. Borrower and Lender further covellant and agree as follows: 17. Accelel'ation; Reme(Ues. Except as provided in paragraph 16 hel'eof, upon Borrower's breach of any coveÌ1ant or agl'eement of Borrower in this MOI·tgage, inclIHUng the covenants to pay when due any SIUUS secured by this Mortgage, Lender prior to acceleration shall give notice to Bon'ower as pl'ovided in paragraph 12 hereof specifying: (1) the breach; (2) the action œquired to cnre such breach; (3) a date, not less than 10 days fmm the date the notice is mailed to BOI'rowel', by which such breach must be cured; and (4) that failure to cure snch breach on or before the date specified in the notice may result in acceleration of the sums secured by this Mortgage. The notice shall fm·ther inform Borrower of the right to reinstate after acceleration aud the right to bring a COIU·t action to assert the nonexistence of a default or any othel' defense of Borrower to acceleration and sale. If the breach is not clII'ed on or before the date specified in the notice, Lender, at Lender's option, may declare all of the slUns secured by this MOI·tgage to be immeiliately due and payable without further demand and may invoke the power of sale and any other rellle(Ues pennitted by applicable law. Lender shall be entitled to collect all reasonable costs and expenses incurred in pursuing the reme(Ues provided in this paragraph 17, including, but not limited to, reasonable attorneys' fees. If Lender invokes the power of sale, Lender shall give notice of intent to fOl'eclose to Borrower and to the person in possession of the Propel·ty, if (Ufferent, in accordance with applicable law. Lender shall mail a copy of a notice of the sale to Borrower in the mauneI' provided in paragl"aph 12 hereof. Lender shall publish the notice of sale and the Pmperty shall be sold in the manner prescribed by applicable law. Lender or Lemlel"s designee may purchase the Property at any sale. The 1)I'oceeds of the sale shall be applied in the following ordel': (a) to all reasonabte costs and expenses of the sale, inclu(Ung, but not limited to, reasonable attorneys' fees and costs of title evidence; (b) to all slUns secured by this Mortgage; and (c) the excess, if any, to the person 01' persons legally entitled thereto. 18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the swns secured by this Mortgage due to Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce tItis Mortgage discontinued at any time prior to the earlier to occur of (i) the fitìh day before sale of the Property pursuant to the power of sale contained in tItis Mortgage or (ii) entry of a judgment etúorcing tItis Mortgage if: (a) Borrower pays Lender all sums wltich would be then due under tItis Mortgage and the Note had no acceleration occurred; (b) Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Mortgage; (c) Borrower pays all reasonable expenses incurred by Lender in enforcing the covellants and agreements of Borrower contained in tIùs Mortgage, and in enforcing Lender's remedies as provided in paragraph 17 hereof, including, but not lin1Íted to, reasonable attorneys' tèes; and (d) Borrower takes such action as Lender may reasonably require to assure that the lien of tIus Mortgage, Lender's interest in the Property and Borrower's obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon such payment and cure by Borrower, tIùs Mortgage and the obligations secured hereby shall remain in full force and effect as if no acceleration had occurred. , 19. Assignment of Rents; Appointment of Receiver; Lender in Possession. As additiOllal security hereunder, Borrower hereby assigns to Lender the rents of the Property, provided tIlat Borrower shall, prior to acceleration under paragraph 17 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due and payable, 0056583024 . -76(\VY) (0308) <!> røge30f4 ,.FOVn~ L lnitial'~ \ " ~ r; ('u()n8r~'2 ~ \.: t:., Upon acceleration under paragraph 17 hereof or abandonment of the Property, and at any time prior to the expiration of any period of redemption following judicial sale, Lender, in person, by agent or by judicially appointed receiver, shall be entitled to enter upon, take possession of and manage the ProperLy and to collect the rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the SW1lS secured by this Mortgage. Lender and the receiver shall be liable to account only for those rents actually received. 20. Release. Upon payment of all Silins secured by tlllS Mortgage, Lender shall release tIllS Mortgage without charge to Borrower. Borrower shall pay all costs of recordation, if any. 21. Waiver of Homestead. Borrower hereby waives all right of homestead exemption in the Property. REQUEST FOR NOTICE OF DEFAULT AND FORECLOSURE UNDER SUPERIOR MORTGAGES OR DEEDS OF TRUST Borrower and Lender request the holder of any mortgage, deed of trust or other encumbrance with a lien which has priority over tlus Mortgage to give Notice to Lender, at Lender's address set fortll on page one of tIus Mortgage, of any default under the superior encwubrance and of any sale or other foreclosure action. IN WITNESS WHEREOF, Borrower has executed this Mortgage. t~L~· 1!~..~~:~ ~lIL.;... I~~ (Seal) -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower [Sign Original Only] STATE OF WYOlVlING, LINCOLN County ss: The foregoing instrument w~s aCknowl.edged before me this ;; '51\..æ~ ,,¡ß~~. /_ by KATHRYN' orsley ~, bA N. JOHNSON - NOTARY PUBUC County of State of Lincoln Wyoming My CommIssion Expires ¿rÀ.~ ¡2~~- Notary Public My Conmussion Expires: 7· /CJ -0 ~ 0056583024 G -76(WY) (0308) <!) 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':'.:"':'!:', '::: ".;.,I':;:~Y.:':,:, ,f" () n 8· . r~ 3," .~.... \J ",j ..~ 0056583024 EXHIBIT "A" That part of the W~SW~ of Section 6, T32N R1i8W of the 6th P.M., Lincoln County, Wyoming being part of those tract of record in the Office of the Clerk of Lincoln County in Book 108PR on page 66, in Book 295PR on page 614, in Book 428PR on page 194 and in Book 455PR on page 744, described as follows: BEGINNING at a spike on the west line of said Section 6, S 00°-05'-00" W, 78.43 feet from the Northwest corner of the SW~SW~ of said Section 6; thence S 88°-15'-56" E, 182.99 feet, along an existing fence line in part, to a point at a fence corner; thence N 01°-34'-21" E, 101.85 feet, along an existing fence line, to a point on the north line of said tract in Book 455; the:qce N 89°-04'-37" E, 144.02 feet, along said North line, to a point; thence S 00°-04'-57" W, 278.83 feet, to a point; thence N 89°-55'-00" W, 329.56 feet, to a spike on the west line of said Section 6; thence N 00°-05'-00" E, 179.75 feet, along said west line to the SPIKE OF BEGINNING. ~ '1 ' "'.;'--~.! .·'<X->:'1~'üSJ:fõo::i'!Þ.i.I.;"~ia¡"i"":f~8;·'..j~'!":~~C;(~h:'}~""~!"·~· ;-O¡J1;}r~"":<,!~''<i<;',!#~':iI;':::.;', '. ,..., ':i!t,h£·~"';'¡;:.,ir:'''~'''¡!i!~i!.ì!i.~~'.1.il~~,; '....', :·"-:-:<"!",')~~,;rk~;~~~~~Ti~.tr>:::~t~,~-~~",'qti;£'!~<,,'. :-'..,r,~ ;}:õ";.i~"I*}~I;~I~;~~Ì'\':";' ,"".::,~1~:1:~,:,,,,.':¡;,¡';;~;~i¡:-;" ,r·f'~8~·''''4 '...... \./"t.. ','-' -- ' BALLOON PAYMENT RIDER TO THE SECURITY INSTRUMENT Borrower Name: KATHRYN C. HORSLEY Property Address: 83218 HIGHWAY 89 AFTON, WY 83110 Loan Number: 0056583024 THE TERMS OF THE LOAN CONTAIN PROVISIONS WHICH WILL REQUIRE A BALLOON PAYMENT AT MATURITY. THE AMORTIZATION OF PRINCIPAL AND INTEREST IS BASED ON A 30 YEAR FACTOR AND WOULD AMORTIZE THE PRINCIPAL LOAN ON A 30 YEAR SCHEDULE, BUT SINCE THE FULL BALANCE IS PAYABLE IN 180 MONTHS,ABALLOONPAYMENTOF$ 87,244.24 WILL BE REQUIRED ON January 1st ,2021 The loan is payable in full at the end of 15 years. You must repay the entire principal balance of the loan and the unpaid interest then due. The lender is under no obligation to refInance the loan at that time. You will, therefore, be required to make payment out of other assets you may own, or you will have to find a lender willing to lend you the money at the prevailing market rate, which may be considerably higher or lower than the rate on this loan. If you reflllance this loan at maturity, you may have to pay some or all clOSÙlg costs normally associated with a new loan, even if you obúlÍn reflllancùlg from the same lender. I/We hereby acknowledge receipt of the above notice relating to the balloon payment provision of this loan, which have also been explained to me/us. ,,~C. '-fI (/l4A, ~ooJ) THRYN C. HORSLEY ¡¡norrower 4 LLo~ ,} () ( ) /~;:.:w" (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower ( Seal) -Borrower (Seal) -Borrower Balloon Payment Rider - No CRR 0605 Page 1 of 1 ¡illili1i!fi~~ FH6D03X t::1;j;::;;;jjiliilii~~~J <¡.',\'", .'.:i''''';'~~Jf: .',~~,,\.,. "'.f';.""",. ·:L·,:.~r.n:':I:~·':' ,·,'!·t,:..1;!-,r.~v.~.:·'""¡'_"'.. ';.;?'~:'~..:j'~:"~""'",,_'" ..' .".."... ·J·.V'.'¡'¡'.·"¡-,·a. ':, : .',1:".,;.: '~"'¡';';':f,' '- ,1t,'p ð. '2{5 v,\...g ." '-.-;' 0056583024 RIDER TO DEED OF TRUST/MORTGAGE/SECURITY DEED Date: 12/23/2005 The escrow of taxes and insur¡mce required in Paragraph 2 of your DEED OF TRUST/MORTGAGE/SECURITY DEED to FIRST HORIZON HOME LOAN CORPORATION is hereby waived and you are notified that you are not required to deposit with FIRST HORIZON HOME LOAN CORPORATION any of the amounts set forth in said paragraph, provided: (a) Escrows for future taxes and insurance premiums are being collected and maintained by the holder or servicer of the mortgage loan superior to our lien; or (b) If you pay your own taxes and insurance premiums, you fulfill your obligation to keep taxes and insurance premiums current with respect to the property secured hereby. This waiver does not, in any way, release you from your obligation to make escrow payments of taxes and insurance to the holder of any prior mortgage, nor does it relieve you of your obligation to keep taxes and insurance premiums current with respect to the secured property. All payments will be applied first to the accrued interest and next to the unpaid principal of your loan. The exact amount of your [mal payment, finance charge, and total of payments will be somewhat more or less than the amounts shown if we do not receive each payment on the scheduled payment date. RECEIPT ACKNOWLEDGED: KATHfc~/! '!/~ 2nd Rider CB6D082 Revised 8/0 I