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HomeMy WebLinkAbout87593304015056 :,. L 1~',t C; 0 L i',t C 0 U I'.,t7'¢ (~t_. E t~ K P,~repared by and When Recorded Return To: Pe=y 8 7 5 9 3 3 PO Box 1620 ';¢OOK~ PRPAGE Afton, ~ 83110 ......................................... [Space ASo~e Th~s L~ne For Record~n~ Da~a] LO~ NO. 8643921 ~ORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. ;~: (A) "Security Instrument" meanS~this document, which is dated SEPTEMBER 10, 2 0 01 , together with all Riders to this document. (B) "Borrower" is ' ;. JOSEPH H SENDER, a married man Borrower is the mortgagor under'this Security Instrument. (C) "Lender" is , FIRST NATIONAL BANK-WES~T Lender is a Afton, WY 8311!.0.. organized and existing under the laws of U;S. OF AMERICA . Lender's address is 1001 MAIN ST EVANSTON, WY 82930 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by Borrower and dated SEPTEMBER 10, 2 0 01 The Note states that Borrower owes Lend:~.r ONE HUNDRED SEVENTY-FOUR THOUSAND NINE HUNDRED SIXTY AND 00/100 Dollars (U.S. $ 174,960.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay th~ debt in full not later than :OCTOBER 1, 2 03 t (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under thi:; Security Instrument, plus interest. (G) "Riders" means all riders to this Sec:~rity Instrument that are executed by Borrower. The following riders are to be executed by Borrower [check box as applicable]: · -.. [----~ Adjustable Rate Rider ~-~ 'Condominium Rider [~ Planned Unit' Development Rider ~--~ 1-4 Family Rider ~-~ Second Home Rider [---] Biweekly Payment Rider [~ Balloon Rider [-~ Other(s)[specify] WYOMING - Single Family - Fannie Mae/Freddi:~ 5,lac UNIFORM INSTRUMENT Form 3051 (01/01) (It) "Applicable Law" means all cont~i.:illing applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (th~::l: have the effect of law) as well as all applicable final, non-appealable judicial opinions. (I) "Community Association Dues, Fe~:'s and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Pr~?perty by a condominium association, homeowners association or similar organization. (J) "Electronic Funds ~ Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, wh:~ch is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to o:'der, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (K) "Escrow Items" mean those items tii. at are described in Section 3. (L) "Miscellaneous Proceeds" means a:r~y compensation, settlement, award of damages, or proceeds pai'd by any third party (other than insurance proceeds paid under the cover, ages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrq~resentations of, or omissions as to, the value and/or condition of the Property. (M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan, ; {Tq) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (O) "RESPA" means the Real Estate Seftlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation thiit governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and)restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (P) "Successor in Interest of Borrower'~!~ means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligatiom; under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Le:iider: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the t,::rformance of Borrower's covenants and agreements under this Security Instrument and the Note. For this pur?~se, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with pc';.~er of sale, the following describe~l property located in the COUNTY [Type of Recording Jurisdiction] of LINCOLN '~ : [Name of Recording Jurisdiction] SEE ATTACHMENT "A" WYOMING- Single Family- Fannie Mae/Fredd:e Mac UNIFORM INSTRL~{ENT Form 3051 (01/01) '~ C Page 2 of 12 0S75D3 ? 22 which currently has the address of 113 PETERSON, ALPINE ~' [Streetl [City] Wyoming 83128 ! ("Property Address"): [Zip Code] TOGETHER WITH all the improv~¢ments now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Bci.]"rower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Propi..~ty and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will de(end generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrov~ii:~ir and Lender covenant and agree as follows: 1. Payment of Principal, Interest.i~ Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, andl}nterest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. l~!orroWer shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that: any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's; check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured b7 a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment(s) or partial paYment(s) if the payment(s) or partial payments are insufficient to bring the Loan current. Lender may accept any payment(s) or partial payment(s) insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment(s) or partial payments in the future, but Lender is not obligated to applY such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds u:ltil Borrower makes payment(s) to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender 'shall either apply such funds or return them to Borrower. If not applied earlier, such ft:nds 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 the future against Lender shall relieve Borrower from m~king payments due under the Note and this Security Instrument or performing the covenants and agre_ements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described. in this Section 2, all payments accepted~and applied by Lender shall be applied in the following order of priority:' (a) interest due under the Note; (b) prinCipal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts du~i under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from ?iqorrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the p :yment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outs. mding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, a:M to the extent that, each payment can be paid in full. To the extent that WYOMING- Single Family-Fannie Mae/rredd:e Mac UNIFORM INSTRUMENT Form 3051 (01/01) any excess exists after the payment is api?lied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. ,,~Yoluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insura~'~ce proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date~..~'ior change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borro ~ver shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a suni;I (the "Funds ') to provide for payment of amounts due for: (a) taxes and assessments and other items which can a~:tain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Sectkm 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the pay*tXqent of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of t,he Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by BOrrower, and such dues, fees and assessments shall be an Escrow Item.. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this~Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation tb pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to Pay to LenderlFunds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of sfich waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for[ which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receiptSlevidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained' in thi?: Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to P~iY Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, L{inder may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under ?ction 9 to repay to Lender any such amount. Lender tnay revoke the waiver as to any or all Escrow Items at m~y time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Len~!['er all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect ami hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESP~,[, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amo~i.nt of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or ¢?~:herwise in accordance with Applicable Law. The Funds shall be held in an instit~:~tion whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is ani:'~institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds t6 ~pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for helding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, u~less Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless ar~, agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be r~quired to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accgunting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds 'held in escrow, as defined under RESPA~,~ Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than twelve monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA,' but in no more than twelve monthly payments. Upon payment in full of all sums :secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shal'lipay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority ~:Wer this Security Instrument, leasehold payments or ground rents on the WYOMING - Single Family - Fannie Mae/Fre~ d!~e Mac UNIFORM INSTRUMENT Form 3051 (01/01) . Page 4 of 12 Property, if any, and Community Associat:'.0n Dues, Fees, and Assessments; if any. To the extent that these items are Escrow Items, Borrower shall pay them' in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of thc obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing s~.~:h agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, t>ut only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfac!~ory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Pr!i?perty is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a. iaotice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to paY1 a one-time charge for a real estate tax verification and/or r,eporting service used by Lender in connection wit~. !:his Loan. 5. Property Insurance. Borrower shall keep the improv, ements now existing or hereafter erected 'on the Property insured against loss by fire, h?~zards included within the term "extended coverage," and any other hazards including, but not limited to, ~;arthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the msounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant '. t:0 the preceding sentences can change during the term of the Loan. The insurance, carrier providing the insurancd',i shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not'.be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a c':,r~e-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flo~:)d zone determination and certification services and subsequent charges each time remappings or similar changes oCcur which reasonably might affect such determination or certification. Borrower shall also be responsible for th~:~:' payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of th!.! coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense.:i: Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might s~gnificantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Leader under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Le~der and renewals of such policies shall be subject to Lender's right ~o disapprove such policies, shall include a st:mdard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee.. Lender shall h~'~'e the right to hold.the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, r,c.t otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a stan:tard mortgage' clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall .~Sve prompt notice to the insurance carrier and Lender. Lender may make pro,of of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not Ilie underlying insurance was required by Lender, shall be applied to restoration' or repair of the Property, if tl~e restoration or repair is economically feasible and Lender's security is not lessened. During such repair and r:~!,storation period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such ~.nspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single ?ayment or in a series of progress payments as the work is completed. Unless an agreement is made in writin,i~ or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to ?ay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained t:.y Borrower shall not be paid out of the insurance proceeds and shall be WYOMING - Single Family - Fannie Mae/Freddi{ ig{ac UNIFORM INSTRUMENT Form 3051 (01/01) ~ ~.~ Page. 5 .~:~ :12 ~. the sole obligation of Borrower. If the:restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proce~:ds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess.,i if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, i!k,ender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not re.~..,!)ond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender' i:nay negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's ,r!ghts to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage 5f the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts :unpaid under the Note or this Security Instrument, whether or'not then due. 6. Occupancy. Borrower shall occ.i~py, establish, and use the Property as Borrower's principal residence within sixty days after the execution of:i~his Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at leas'i one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7, Preservation, Maintenance ang'.Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow th;,) Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Propertyii.: Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in valu~~ due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically i:!easible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurmce or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower s~'.~ll be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes.~i~ Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress paym~:ats as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore tlie P~operty, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration.' Lender or its '"agent may make reasC~;limble entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior o~'the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application.~'i Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or-with Borrower's knowledge or consent gave materially false, misleading, or im[ccurate information or statements to Lender (or failed to provide Lender with material information) in ebnnection with the Loan. Material representations include, but are not limited to, representations concerning Borrower' s c,¢cupancy of the Property as Borrower' s principal residence. .. 9. Protection of Lender's Inter~.~t in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants .and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in ban'~cruptcy, probate, for condemnation or fo[feiture, for enforcement of a lien which may attain'priority over this Secu'rity Instrument or to enforce laws or-regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by 'a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable atto[ney's fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited tO, entering the Prop~:ri~y to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate bu[:d~;'ng or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender ma!! iI:ake action under this Section 9, Lender does not have to do so and is not WYOMING - Single Fanfily - Fannie Mae/Fr* :l~:e Mac UNIFOR3{ INSTRUMENT Form 3051 (01/01) ~, Page 6 of 12 0 75 33 under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender u.n:]er this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts ~shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upor~ ~otice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Proper[y:i the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lertder required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by ~ender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower w)s~ required to make separately designated payments toward the p.remiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in qffect, at a cost substantially equivalent to the cost to Borrower'of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that v,:)e:~e due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as 3 non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any inte:r~t or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance chverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again be~.bmes available, is obtained, and Lender requires separately designated payments toward the premiums for Morti!i~e Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was reqUiiied to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, untii the Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in tlhis Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their, total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or ?nodify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the m0l:tghge insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may ificlude funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lende?, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from. (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in'exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exch~ge for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Furtlaer: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage InsuranCe, or any other terms of the };oan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not hffect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated ai'~tomatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assigmnent of Miscellaneous Prodeeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. WYOMING - Single Family - Fannie Mae/Freddie 1~ ~ac UNIFORM INSTRUMENT Form 3051 (01/01) 7 2 7 If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender sh~i]l have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be un:tertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of prog[.ess payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or ?arnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's ses:grity would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrurr,ent, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be app!ied in the order provided for in Section 2. In the event of a total taking, destrui~tion, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if ahy, paid to Borrower. ~.~. In the event of a partial .taking, destr.?lction, or loss in value of the Property in which the fair market value of the Property immediately before the pa~:f'ial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Secui'~ty Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender o~;herwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately.before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immedia~.ely before the partial taking, destruction, or loss in ~value. Any balance shall be paid to Borrower. .. In the event of a partial taking, destri!:~ction, or loss in value of the Property in which the fair market value of the Property immediately before the patti:iai taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are tti:~.n due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers t0 .'make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the da'~::e the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restor!i:[ion or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borr0~er has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security }nstrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided 'in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes fo::feiture of the Property or other material impairment of Lender's interest in the Property or rights under this Secmity Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender' s interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. -': 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modific~iion of amortization of the sums?secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower she. ill not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not bi: required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for:payment or .otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender ii~ exercising any right or remedy including, without limitation, Lender's acceptance of payments from third perscns, entities or Successors in Interest of Borrower. or in amounts less than the amount then due, shall not be a waivel~ of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; {i~.=.o-signers; Successors and Assigns Bound. Borrower covenants and WYOM[ING - Single Family - Fannie Mae/Freddi:~ Mac UNIFOILM INSTRUMENT Fom~ 3051 (01/01) . '/ Page 8 of 12 agrees that Borrower's obligations and Ii.ability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey th::: co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligatetil to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agre,~! to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or t!:ie Note without the co-signer's consent. Subject to the provisions of Sectio:'!; 18, any Successor in Interest Of Borrower who assumes Borrower's obligations under this Security Instrumer;~ in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security I:~:~strument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrum-:.:nt unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument s?:all bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may chi?ge Borrower fees for services performed in connection with B~rrower's default, for the purpose of protecting Le~'der's imerest in the Property and rights under this Security Instrument, including, but not limited to, attorneys f,t:es, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this '.Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the chargi~:::,} of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applic~i:~le Law. If the Loan is subject to a law which i:~ets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected o~:! to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be ~i:educed by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collecte~ from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make ti:tis refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund, reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether.i::~r not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by d!irect payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such :overcharge. 15. Notices. Ail notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in;connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first C,lass mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that :~;pecified procedure. There may be only one 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 mail to Lender'~ address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection Wi:h this Security Instrument shall not be deemed to have been given to Lender Umil actually receivedby Lender.: If any notice required by this Security Instrumem is also required under Applicable Law, the Applicable Law re%firement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security _Instrument shall be governed by federal law and the law of the jurisdictioh in which the Property is located. Alt rights and obligations contained in this S~ecurity Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might ex,)licitly or implicitly allow .the p.~!rties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against ag;:eement by contract. In the event that any provision or clause of this Security Instrument or the Note conflict~; with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note whic!~ can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine ~ender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives ~ole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. ¸ir 18. Transfer of the Property or a Be;aeficial Interest in Borrower. As used in this Section 18, "Interest in . the PropertY" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed;; c;z~ntract for deed, installment sales contract or escrow agreement, the i~itent of which is the transfer of title by Bo'~'rower at a fature date to a purchaser. If all or any part of the Property or an~)'Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in l~orrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment .inlfull of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if Silch exercise is prohibited by Applicable Law. If Lender exercises this option, Lenille~ shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 'days from tire ,.date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by :..::'.hi~ Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may i~islmke any remedies permitted by this Security Instrument withoqt further notice or demand on Borrower. 19. Borrower's Right to Reinsta~::~i After Acceleratiom If Borrower meets certain conditions, Borrower shall have the right to have enforcememl of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Prop;i:;~-ty pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Lawi~i~ight specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Secur!ilty Instrument. Those conditions, are that Borrower: (a) pays Lender all sums which then would be due under thi.~,.:~ Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants.:,0r agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited t~:i ireasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of'pi?leering Lender's interest in the Property and rights Under this Security Instrument; and (d) takes such action a~: iLender may'reasonably require to assure that Lender's interest in the Property and rights under this Security 'h~strument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unctli:u~ged.. Lender may require that Borrower pay such reinstatement sums and expenses in one Or more of the fiil~lowing forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer'~'i),'i:iheck or cashier's c!~eck, provided any such check is drawn upon an institution whose deposits are insured ~.!i'!~z' a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrox~?[cr, this Security Instrument and obligations secured here~by shall remain fully effective as if no acceleration had q~:;curred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrur,3.~mt) can be sold one or more times without prior notice to Borrower. A 'sate might result in a change in the entlty (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Al~plicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale o~' tl{e Note..'U there is a change of. the Loan Servicer, Borrower will be given written notice of the change which will state !'~e.name and address of the new Loan Servicer, the address to which -. payments should be made and any othe:"~information RESPA requires in connection with a notice of'transfer of servicing. If the Note is sold and there;d~;er the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicin~L obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer()) and are not assumed by the Note-.purehaser unless otherwise provided by the Note purchaser. tqeiiixer Borrower nor Lender may c~,mmence, join, or be j~ined to any judicial action (as either an individual litigant or the member of a class) that al~¢es from the other party's actions pursuant to this Security Instrument or that alleges that the other party has br,:ached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lenc~r has notified the other party (with such notice given in compliance with. the requirements of Section !5) of suct'~' alleged~breach and afforded the other party hereto a reasonable period after the giving of such notice to take c:irrective action. If Applicable Law provides a time period which must elapse before certain action can be take:t'~:.!, that time period wilt be deemed to be reasonable for purposes of this paragraph. Tile notice of acceleration a~ i'.t opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrox,?~r pursuant to Section 18 shall be deemed to satisfy thc notice and WYOMING - Single Family - Fannie Mae/Fred,: :; Mac UNIFORM INSTRUMENT Form 3(151 (01/0D 730 opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As u,,.~ in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substam::.h pollutants, or wastes by Environmental Law and-the following substances: gasoline, kerosene, other fli:'.n~Unable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing a~,3~Sstos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the ji~risdiction where the Property is located that relate to health, safety or environmental protectioni (c) "Environmr~:r, tal Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law;, a.:nd (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Em.:ii0nmental Cleanup. Borrower shall not cause or permh: ~the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any H~:~z~ird0us Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecdn.g the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Conditi, mt, or (c) which, due to the presence, use, or release of a Hhzardous Substance, creates a condition that alJver~e!y affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage, on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to rtormal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances ;.n.'consumer products). Borrower shall promptly give Lende~~ ~vritten notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of wh~ci~ Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilli.ng, leaking, discharge, release or threat of' release of any Hazardous Substance, and (c) any condition caused bythe presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any. governmental or regulatory authority, or any private party, that any removal or dther remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any 0bligatio~ 0, n Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Bi'~r~ower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. LenSer shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or ~greement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable La,, '.provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (cl...a date, not less than 30 days from the date the notice is given to Borrower, by which the default must l:r.:, cured; and (d) that failure to cure the default on or before the date specified in the notice may result in ac(':~e!eration of the sums secured by this Security Instrument and sale of the Property. The notice shall further reform Borrower of the right to reinstate after acceleration and the right to bring a court action ~o assert.t~!m non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is rmt cured on or before the date specified in the notice, Lender at its option may require immediate paymcm: in full of all sums secured by this Secnrity Instrument without further demand and may invoke the I-.o~ver of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonabl ~:.attorneys' fees and costs of title evidgnce. If Lender invokes the power of sai,~'~ Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Propert]~,.if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the m:mner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in the manner prescribed by applicable law. Lender or its designee may purchase the Property at any sale. The i~roceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but no! iimited to, reasonable attorneys' fees; (b) to all sums secnred by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all su':ns secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs..Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is WYOMING-Single Family-Fannie Mae/Fred~, Mac UNIFORM INSTRUMENT Form 3051 ((1~ ~011 ") permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. " BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any rider(s) executed by Borrower and recorded with it. Witnesses: '--1 ~~ (Seal) ~ JOSEPH H SENDER -~orrow~ Social Security Number 282-54-2174 (Seal) - Borrower Social Security Number :.!iii (Seal) ~ Social Security Number (Seal) - Borrower Social Security Number ........................................ [Space Be[ow This Line For Acknowledgment] ....................................... STATE OF WYOMING ) ) SS: COUNTY OF LINCOLN ) The foregoing instrument was acknowledg(?d before me, a Notary Public, on SEPTEMBER 1 0, 2 0 0 1 Date by: JOSEPH H .SENDER, a ~,,arried man In WITNESS WHEREOF, I have hereunto: set my hand and official seal. My Commission expires: 0 9 / 18 / 0 3 i1 County of /li~.~ State of Lincoln .Wy°ming WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Fonn 3051 (01/01) Page 12 of 12 For gOOd and valuable conside~iat:.ion, the receipt and sufficiency of which is a~knQwl~dged, I, ~~,;lm~ .. , do hereby forever release ~'w~va all ri~ts '~er a~ i)Y virtue of the Homestead Ex~ption Mws of the State of' ~voming i~'~regard to .toge~er with all' ~p~ov~ts ther~n. I r~lize t~t ~ Spouse , __~Joseph__~.,_ Sender ~s appii~ to First National Bank-Wma~, for a loan in conn~tion with ~e ~r~e of the said pro~rty presently o~ by~ P.~ ~ ~ p. and ~l~ge tMt the said .. Lander has reli~ u~n this release and waiver in ~king t~ said loan. ~ foregoing ast~nt was ack~,owl~g~ ~fore ~ thi, /D ~ day of ~~ a~ M~ and o~icial s~al. . ~~ Expires September 18 2~ EXHIBIT .A" A portion of the NE:i../4NW1/'4' of Seeti'on ~0, T36N, ~llgW, of the 6th P.M., Lincoln County, Wyomins, being more particularly described as follows: BEGINI~iNG at the B,.!i.iM', type monument found marking the Southeast corner ofi'~Said NE1/4NW1/4 (CN1/16 of S10); thence N88°29'12"W.., along ~Jhe south line of said NE1/gNW1/4 734.20 'feet to an Iron Pipe found at a poin~ in the Easterly ~ Highway 89; thence N3~16'16,W, alon~ said Right-of-Way for U.~.~. Right-of-Way, 489.06 ~feet to an Aluminum Cap on Rebar found; thence S89~24,37,,E, 108.64 feet to an Aluminum Cap on Rebar foUnd at an existing, fence corner; thence S89:13'23"E, alon~ an existing East-West fence, 657.80 feet to an Aluminum Cap on Rebar found at a fence 'corner, 'thence S0~30,46.W 493.37 feet, to the Point of Be~J..nning. ~XC~PTING THEREFROM' The True Point of Beginning being an Iron Pipe set at a pointin the ~orth Right-or-.Way line. of the existing Private Road, said point bein~ 45.14 feet NSSo49,12.W, aIong said South line, to an Iron.Pipefou~d and 40..856 feet N10034A00"W from'-sai.~ ~.L.M. type. ~ummnt found marking the Southeast corner of said NE1/4~1/4 (CN1/16 of S10); thence NSS:49'12"W 357.85 f~e'et'to an Iron Pipe se~,; thence N10~34'00"W 124.33 feet to an Iron Pipe set; thence 888o49,12,E 357.85 feet to and Iron Pipe 'found; thence 810o. 34'00,,E 124.33 feet, to the Tz-de P~int of.'Beginning.