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HomeMy WebLinkAbout919538 · '.~' "-...;..o:"&;....~..-.,,.,,_.'-; ·,,,'-,-,·Þ. ._.._~,.a.. .......,..""....... ......." .....c....-, - .. ..~.'.~...,~'"-"'-"=<r-".. ,. -, ,,:,.........--...... ."" -. '., ,..~.....-,.., ~.'. ?£-cSG Return To: FHHLC - POST CLOSING MAIL ROOM OOOC61 1555 W. WALNUT HILL LN. #200 MC 6712 IRVING TX, 75038 1315 SOUTH HIGHWAY 89, SUITE 101 JACKSON, WY 83001 RECEIVED 6/21/2006 at 3:22 PM RECEIVING # 919538 BOOK: 624 PAGE: 61 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Prepared By: FIRST HORIZON HOME LOAN CORPORATION - -~.._- -. - -- _. - [Space Above TJùs Line For Recording Data] FHA Case No. State of Wyoming MORTGAGE 591-0987043-703 0057940793 THIS MORTGAGE ("Security Instrument") is given on June 16th, 2006 The Mortgagor is JAY A SPRECHER & PAMELA S SPRECHER, HUSBAND & WIFE ("Borrower"). This Security Instrument is given to FIRST HORIZON HOME LOAN CORPORATION which is organized and existing under the laws of whose address is 4000 Hor i z on Way, , and THE STATE OF KANSAS IRVING, TX 75063 ("Lender"). Borrower owes Lender the principal sum of ONE HUNDRED SIXTY SIX THOUSAND SIX HUNDRED FORTY FIVE & 00/100 Dollars (U.S. $ 166,645.00 ). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for monthly payments. with the full debt, if not paid earlier, due and payable on Jul y 1 s t, 2036 . This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrumeiit; and (c) the perfonnance FHA VI/yoming Mortgage - 4 96 .-4R(WY) (0509) @ .Page 1 of 9 VMP Mortgage Solutions. Inc. Initials: 11111111111111111111111111111111111 ',v,'. ,.'::~K~I, '¡'.II f~f·.;'¡ ·¡·Ò "~.'n~~!~ ir;,.-, @]~~~~~mmm .....,......,..............",.,.,.,.,-_..'"....,.,,,.,....~ ,.........,."....,-'. ':-', ". . . .,.....~......_....-....,. ,'. .. ......,~"..~'........."...- "., -.·I·.,-,~ .".".... ',' ,·..-,·,·.·.....c.'.... .. .,...,..._...........,.............. 091.9S38 r' ,.: t.OOlJ62 of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to the Lender with power of sale, Ú1e following described property located in Lincoln County, Wyoming: All that tract or parcel of land as shown on Schedule "A" attached hereto which is incorporated herein and made a part hereof. Parcel ID Number: which has the address of Afton County: 12321819200096.00 City: 56 Twin Cliffs Road, [City], Wyoming 83110 [Street] [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 part of the property. All replacements and additions shall also be covered by Ú1is Security Instrument. All of the foregoing is referred to in Ú1is Security Instrument as Ú1e "Property." BORROWER COVENANTS that Borrower is lawfully seized of Ú1e estate hereby conveyed and has the right to mortgage, grant and convey the Property and Ú1at the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to Ú1e Property against all claims and demands, sUbject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-unifom1 covenants with limited variations by jurisdiction to constitute a unifonn security instrument covering real property. Borrower and Lender covenant and agree as follows: UNIFORM COVENANTS. 1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due Ú1e principal of, and interest on, the debt evidenced by the Note and late charges due under the Note. 2. Monthly Payment of' Taxes, Insurance and Other Charges. Borrower shall include in each monthly payment, togeÚ1er wiÚ1 the principal and interest as set forÚ1 in Ú1e Note and any late charges, a sum for (a) taxes and special assessments levied or to be levied against Ú1e Property, (b) leasehold payments or ground rents on Ú1e Property, and (c) premiums for insurance required under paragraph 4. In any year in which Ú1e Lender must pay a mortgage insurance premium to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such premium would have been required if Lender still held the Security Instrument, each monthly payment shall also include eiÚ1er: (i) a sum for Ú1e annual mortgage insurance premium to be paid by Lender to the Secretary, or (ii) a monthly charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary, in a reasonable amount to be detem1ined by the Secretary. Except for the monÚ1ly charge by the Secretary, Ú1ese items are called "Escrow Items" and Ú1e sums paid to Lender are called "Escrow Funds." Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed Ú1e maximum amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures Act of 1974, 12 U.S.c. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as Ú1ey may be amended from time to time ("RESP A"), except that the cushion or reserve permitted by RESP A for unanticipated disbursement or disbursements before Ú1e Borrower's payments are available in Ú1e account may not be based on amounts due for e mortgage insurance premium. 0057940793 .-4R(WY) (0509) <!> Page 2 of 9 d·.....""".......,. .. . .·.·0·.·.·.·.·.·.·.·.·.·.·. . .......-'.~.....,....,...,.." <'O,¡,~--,-"" '.... ..' ,,"" .'; ......' . ..' ,., ......,..'....."..,.' ,.. .' ..,........ .;,::;.....;~.;......-.,...,. ',' " .-. O~1.9SJ8 000Ü63 If the amounts held by Lender for Escrow Items exceed the amounts pemlittedto be held by RESPA, Lender shall account to Borrower for the excess funds as required by RESPA. If the amounts of funds held by Lender at any time are not sufficient to pay the Escrow Items when due, Lender may notify the Borrower and require Borrower to make up the shortage as pennitted by RESP A. The Escrow Funds are pledged as additional security for all sums secured by this Security Instrument. If Borrower tenders to Lender the full payment of all such sums, Borrower's account shall be credited with the balance remaining for all installment items (a), (b), and (c) and any mortgage insurance premium installment that Lender has not become obligated to pay to the Secretary, and Lender shall promptly refund any excess funds to Borrower. Immediately prior to a foreclosure sale of the Property or its acquisition by Lender, Borrower's account shall be credited with any balance remaining for all installments for items (a), (b), and (c). 3. Application of Payments. All payments under paragraphs 1 and 2 shall be applied by Lender as follows: First, to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by the Secretary instead of the monthly mortgage insurance premium; Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, !load and other hazard insurance premiums, as required; Third, to interest due under the Note; Fourth, to amortization of the principal of the Note; and Fifth, to late charges due under the Note. 4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether now in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. Borrower shall also insure all improvements on the Property, whether now in existence or subsequently erected, against loss by !loods to the extent required by the Secretary. All insurance shall be carried with companies approved by Lender. The insurance policies and any renewals shall be held by Lender and shall include loss payable clauses in favor of, and in a foml acceptable to, Lender. In the event of loss, Borrower shall give Lender immediate notice by maiL Lender may make proof of loss if not made promptly by Borrower. Each insurance company concemed is hereby aUùlorized and directed to make payment for such loss directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the insurance proceeds may be applied by Lender, at its option, either (a) to the reduction of the indebtedness under ùle Note and this Security Instrument, first to any delinquent amounts applied in tlle order in paragraph 3, and then to prepayment of principal, or (b) to the restoration or repair of the damaged Property. Any application of the proceeds to the pri'ncipal shall not extend or postpone the due date of the monthly payments which are referred to in paragraph 2, or change the amount of such payments. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. In the event of foreclosure of this Security Instrument or oÙler transfer of title to tlle Property tllat extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to ùle purchaser. 5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument (or within sixty days of a later sale or transfer of the Property) and shall continue to occupy the Property as Borrower's principal residence for at least oile year after ùle date of occupancy, unless Lender detennines that requirement will cause undue hardship for Borrower, or unless extenuating circumstances exist which are beyond Borrower's controL Borrower shall notify Lender of any extenuating circumstances. Borrower shall not commit waste or destroy, damage or substantially change tlle Property or allow the Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property if tlle Property is vacant or abandoned or ùle loan is in default. Lender may take reasonable action to protect and preserve such vacant or abandoned Property. Borrower shall 0057940793 S-4R(WY) (0509) <!> Page 3 of 9 ::!g~timi¡:::~:::~ ¡tœM1.'~t~ ~~ "'-~·II~· -......; ~...,. õ·,·..·· . -..............""~.--··.U:~f__~.,.__..,..t..~~IÞIiI".._.,,..·_......· "~,.."'~"'" . . -. ...........'.....,.,.,......!'IoO.P.._.--...,........ . ·.'.i:... ....." ·,·,-·'iaii__..·o;.....:ø··..-....·<Vw'Ç,..N'-IõoI·..'r. ..~....." ....in'I\~.~.u.:ko,._..j'........"'. ',-a' .;,.....~.~... .... 091.9538 C00064 also be in default if Borrower, during the loan application process, gave materially false or inaccurate infonnation or statements to Lender (or failed to provide Lender with any material infomlation) in connection with the loan evidenced by the Note, including, but not limited to, representatiOns concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold. Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing. 6. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under Úle Note and this Security Instrument. Lender shall apply such proceeds to Úle reduction of Úle indebtedness under the Note and Úlis Security Instrument, first to any delinquent amounts applied in the order provided in paragraph 3, and Úlen to prepayment of principal. Any application of Úle proceeds to Úle principal shall not extend or postpone Úle due date of Úle monthly payments, which are referred to in paragraph 2, or change Úle amount of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under Úle Note and úlis Security Instrument shall be paid to the entity legally entitled Úlereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property, Borrower shall pay all governmental or municipal charges, fines and impositions that are not included in paragraph 2. Borrower shall pay úlese obligations on time directly fo the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in Úle Property, upon Lender's request Borrower shall promptly furnish to Lender receipts evidencing these payments. If Borrower fails to make úlese payments or the payments required by paragraph 2, or fails to perfoml any oÚler covenants and agreements contained in this Security Instrument, or úlere is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect úle value of Úle Property and Lender's rights in Úle Property, including payment of taxes, hazard insurance and oÚler items mentioned in paragraph 2. Any amounts disbursed by Lender under Úlis paragraph shall become an additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at úle Note rate, and at the option of Lender, shall be inill1ediately due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faiúl tlle lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of Úle lien; or (c) secures from Úle holder of Úle lien an agreement satisfactory to Lender subordinating tlle lien to this Security Instrument. If Lender detemlines úlat any part of the Property is subject to a lien which may attain priority over this Security Instmment, Lender may give Borrower a notice identifying Úle lien. Borrower shall satisfy the lien or take one or more of tlle actions set fortll above within 10 days of úle giving of notice. 8. Fees. Lender may collect fees and. charges aUÚlorized by Úle Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment defaults, require immediate payment in full of all sums secured by úlis Security Instrument if: (i) Borrower defaults by failing to pay in full any monúlly payment required by úlis Security Instrument prior to or on úle. due date of Úle next monthly payment, or (ii) Borrower defaults by failing, for a period of Úlirty da:ys, to perform any oÚler obligations contained in this Security Instmment. (b) Sale Without Credit Approval. Lender shan, if pemlitted by applicabl.e law (including Section 341 (d) of the Gam-St. Gennain Depository Institutions Act of 1982, 12 U.S.c. 170Ij-3(d)) and with the prior approval of the Secretary, reqUire inmlediate payment in full of an sums secured by Úlis Security Instrument if: '&~, qf. 0057940793 G-4R(WY) (Q5Q9) @ Page 4 ·of 9 . '~¡:¡~~.717;~I·'!I:1;I;I~;;'·rl;:;'.';!.· ";.,".', i.":: {.,.,." '.".",,,..t'., ,'t· '.:",..:. ',lcI',,'" . ,'-.; ·'·'·;·r.·.:.:.:.·.·o:.··~¡ . ....:,' ·"',·_:~¡j"J\ f""..·.;l'i:Jor:.;5.: f;ï~,f,1,.·~·¡I,"; I~'.~" '-"~':'è';'.", . -,. '.' "~ ··'··,'..::;!'C.t.!,'¡';"":i:·, ",:;~W . ;- ,.\;¡.-.' .'.. .,',·-.,,'a!'......"!l _. 091.9S38 COOC65 (i) All or part of the Property, or a beneticial interest in a trust owning all or part of the Property, is sold or otherwise transferred (other than by devise or descent), and (ii) The Property is not occupied by ùle purchaser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property but his or her credit has not been approved in accordance WiÙl ùle requirements of ùle Secretary. (c) No Waiver. If circumstances occur that would pemlit Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events. (d) Regulations of HUD Secretary. In many circumstanèes regulations issued by ùle Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not pemlitted by regulations of ùle Secretary. (e) Mortgage Not Insured. Borrower agrees ùlat if iliis Security Instrument and the Note are not detennined to be eligible for insurance under ilie National Housing Act wiùlin 60 days from ùle date hereof, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of ùle Secretary dated subsequent to 60 days from ùle date hereof, declining to insure ùlis Security Instrument and ilie Note, shall be deemed conclusive proof of such ineligibility. Notwiùlstanding ùle foregoing, ùlis option may not be exercised by Lender when ùle unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to ùle Secretary. 10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment in full because of Borrower's failure to pay an amount due under the Note or iliis Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate ilie Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to ùle extent iliey are obligations of Borrower under iliis Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated wiili ilie foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations iliat it secures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to pennit· reinstatement if: (i) Lender has accepted reinsta~ement after ùle commencement of foreclosure proceedings wiùlin two years immediately preceding ùle commeI1cement of a current foreclosure . proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect ilie priority of ilie lien created by this Security Instrument. 11. Borrower Not Released; FOI'beamnce By Lender Not a Waiver. Extension of the time of payment or moditication of amortization of the sums secured by iliis Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release ùle liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or oilierwise modify amortization of the sums secured by ùlis Security Instrument by reason of any demand made by ùle original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preçlude the exercise of any right or remedy. ] 2. Successors and Assigns Bound; Joint and Sevenl] Liability; Co-Signers. The Covenants and agreements of ùlis Security Instrument shall bind and benetit ùle successors and assigns of Lender and Borrower, subject to ùle provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute ilie Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey Ùlat Borrower's interest in ùle Property under Ùle tenns of this Security Instrument; (b) is not personally obligated to pay Ùle sums secured by ù1is Security Instrument; and (c) agrees Ùlat Lender and any oÙler Borrower may agree to extend, modify, forbear or make any accommodations WiÙl regard to ùle tenm of ùlis Security Instrument or ùle Note without iliat Borrower's consent. 0057940793 .-4R(WY) (0509) ® Page 5 of 9 ~;';':¡~k~ .'."....'.d..,,,1.,¡~.......~.' !;':i1S:k¡"'("\ :!;iii:j:::?::::;:~::~:¡ '!..~..!~&!,,!.~';'~' .~~~~;;;l~~~1~m!ij; . '.' ........".".. '.'. ..~.' .... . '.'".'., .._.'.'.,.....~.,..=..:., Õ-'·.¡·oI."l:I'c.....:n...., . '.'"",'-~·:), .:.IOo,,öfr.;'.'.·. 'f'<'..U..I',.,!!I';f.."· ,!,!",....:\' . ,.."..,.,.,.,.,.'..0;........ .., 'c' ,.......... .... ~;.. 091.9S38 OOOC66 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the' Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect oÙler provisions of this Security Instrument or Ùle Note which can be given effect WiÙ10Ut the conflicting provision. To Ùlis end Ùle provisions of Ùlis Security Instrument and Ùle Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given orie confomled copy of the Note and of this Security Instrument. 16. Hazardous Substances. Borrower shall not cause or pennit Ùle presence, use, disposal, storage, or release of any Hazardous Substances on or in Ùle Property. Borrower shall not do, nor allow anyone else to do, anYÙling affecting Ùle Property Ùlat is in violation of any Environmental Law. The preceding two sentences shall not apply to Ùle presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to nomlal residential uses and to maintenance of Ùle Property. Borrower shall promptly give Lender written notice of 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 which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory aUùlOrity, that any removal or oÙler remediation of any Hazardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 16, "Hazardous Substances" are Ùlose substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, oÙler tlammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or fomlaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of Ùle jurisdiction where Ùle Property is located that relate to healùl, safety or environmental protection. NON·UNIFORM COVENANTS. Borrower and Lender furùler covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all Ùlerents and revenues of the Property. Borrower auùlorizes Lender or Lender's agents to collect Ùle rents and revenues ahd hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in fue Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for ùle benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the sums secured by ùle Security Instrument; (b) Lender shall be entitled to collect and receive all of Ùle rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to Ùle tenant. Borrower has not executed any prior assignment of ilie rents and has not and will not perfoml any act that would prevent Lender from exercising its rights under Ùlis paragraph 17. Lender shall not be required to enter upon, take control of or maintain Ùle Property before or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time Ùlere is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of Ùle Property shall tenninate when Ùle debt secured by Ù1e Security Instrument is paid in fulL 0057940793 G-4R(WY) (0509) ® Page 6 of 9 -.: '.~. ·_"''''-·'-'''~'·iaüI~,...~",,,·,''''~7''''-:m~W~JI'-''¡;:·;-'''''~I!.OŒ7~''''·..~··:-:"·''"'"''··I.''_''_'':<!:!'~..r..!',,''' ",'...... ',<¡--' ·.·....i..i~.......,..~ ., -'·~¡-"I:~ --. .·'-¡:L "\' ;,.'JW'~~·~~~!t":"~~("·';.I"ï'·""""~·"1""~·i" ._,'.'" .'.' :·;"....y.~~'-"!~...,¡Äf..\.·.';-I!'::. ...~ ._~'__,..,. .':~I!.i..'~~...;... 0319~}38 COOC67 18. Foreclosure Procedure. If' Lender requires immediate payment in full under paragraph 9, Lender may invoke the power 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 paragraph 18, including, but not limited to, reasonable attorneys' fees and costs of title evidence. It' Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with applicable law. Lender shall give notice of the sale to Borrower in the manner provided in paragraph 13. 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 proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. If' the Lender's interest in this Security Instrument is held by the Secretary and the Secretary requires immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.c. 3751 et seq.) by requesting a foreclosure commissioner designated under the Act to commence foreclosure ancl to sell the Property as provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise available to a Lender under this Paragraph 18 or applicable law. 19. Release. Upon payment of all sums secured by Ùlis Security Instrument, Lender shall release Ùlis Security Instrument wiÙ10ut charge to Borrower. Borrower shall pay any recordation costs. 20. Waivers. Borrower waives all rights of homestead exemption in Ùle Property and relinquishes all rights of curtesy and dower in Ùle Property. 21. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded togeùler wiÙ1 Ùlis Security Instrument, Ùle covenants of each such rider shall be incorporated into and shall amend and supplement Ù1e covenants and agreements of Ùlis Security Instrument as if the rider(s) were a part of Ùlis Security Instrument. [Check applicable box(es)]. D Condominium Rider D Planned Unit Development Rider D Growing Equity Rider D Graduated Payment Rider D Other [specify] 0057940793 Q-4R(WY) (0509) ® Page 7 of 9 m;!~~¡¡¡¡~::¡!:m:~1 ~~;::::~~:¡:i::!:ij~' k~t!~~~~~~1.1 ~ff~fu;~~l~ ¡G*~,;4 ~~i"¡S':£P' ~~.:.~:.:.~~ i:!:.~~~:?r:!~~~; " "-"',' ·,'.rw'·'''' '''atr.r.QI¡·,".._¡.:a;o;.-.n;"'JIJ!-.'E'-~~''''''''''<;'''''·''''',··-·r·'''·"'~"'-i..~-n.IiiIi'GT"·:'··,.;,--"., . ~-~ ·'·M..",.._.,.,~¡t;e¡,....aa;o.,.'.'_'...' ',' 091.9538 "','. . ·.·.!'i",I_~':'4Itr!i·~">U'~~!,!""',;.h'n.~·;:;.·;,: 1:;..; .;'(,;,.-.._'t'>t,.,..,..r.'..it',....·,Þllh'MIihW'"l\4"...j!f;,:.·.:,.·,."_..~~':....,...,.._.¡r~t'!,..~,.J:;.'..~.-:':;.:...;_. r· _ ~. 00 L 68 BY SIGNING BELOW, Borrower accepts and agrees to the terms contained in this Security Instrument and in any rider(s) executed by Borrower and recorded with it. Witnesses: (Seal) -Borrower (Seal) ·Borrower (Seal) -Borrower 0057940793 G-4R(WY) (0509) ® ~~Lw LA SS RE. Page 8 of 9 (Seal) - Borrower Co -19-00 (Seal) -Borrower (Seal) -Borrower (Seal) -13orrower (Seal) -l1lxrowcr · ·.·.·......;...If:·¡...,.;·,·.-·1>,·.·,·,·.<,',·;·;'''··ti';!"·,'~,·,.·:~·,.U~,·.·""',-·'·~i. '.;'J" . ~', ~.,::"',. .-.,..~~..;;::1.~.-;.. ".' .'-':. '·"~'-";:'7·f j;¿·:,;j;":JoI;C"'I~:',._'. '-. 09í9sas STATE OF WYOMING, LINCOLN The foregoing instrument was acknowledged before me this by JAY A SPRECHER & PAMELA S SPRECHER My Commission Expires: b' ~ () - tØ Or; 7 JILL H. LARSON - NOTARY PUBUC COUNTY OF STATE OF UNOO..N WYOMING MY COMMISSION EXPIRES JUNE 20 2007 0057940793 S-4R(WY) (0509) @ '··'$<(":I,l-riIIfEV<~:;4·.....~rrJ(ß.·.f1f'...t!~~·.'.,!,..,t::;,""..,:::;I. '.- .,. ·"-":i\·1C::V'I~~·'~"~¡:'7':': '.',,".¡; '·""·::":~'I'.!ö~!¡~ !;·¡·. ',' County ss: r-,., : í/O'-'69 '.' \J II NO"ry~~ tI d~ Page 9 of g ~:*::::~~::*:;~ ~l!N': ~'~i!¡¡: :!::¡~' ~i¡~;;¡¡¡m¡~i;i~¡~;: ~ ~,' ';1:..a;&;~~':':.I:ct;"t;""I;,"GJ;·Li'I;' \>.'_11.....::1_,,· .;~_--.., I( r"L1.'IT .·C.,·,~r i "'¡.",.' _~':-" .¡._ " .,;- '..~::;' ,~o!~~~~._. _ '! . ,-"':"'.' ..'~ ';7 ¡'j ~I~'~.:rcl:i:t~.·, ",' '_ _, '.' " '.'_'f:t!íIP:~~~::!h~i¡";~¡'·-·;"'.J~""·¡·~¡"I'·:·:_""" 'j r,·~ ,:.,-.,,' >.' ,;";"".!i":I~"""¡'.n~,,'_'-'.d·.,,~1".'·"" ':,:'! '~,~, ,;'.:..;.:....."þ.!'". 0919538 COOú70 0057940793 EXHIBIT "A" A portion of Section 19, T32N R118W ofthe 6th P.M., Lincoln County, Wyoming more particularly described as follows: BEGINNING at a point on the North boundary line of the Northwest Quarter of the Northwest Quarter of said Section 19, that is 924 feet West of the Northeast corner of said Northwest Quarter of the Northwest Quarter; and, running thence West 8 rods along said north boundary line; Thence South 20 rods on a line parallel to the East boundaryofsaid Northwest Quarter of the Northwest Quarter; Thence East 8 rods, on a line parallel to the north boundary of said Section 19, to a point 924 feet West of the East boundary of said Northwest Quarter of the Northwest Quarter; Thence North 20 rods, more or less, on a line parallel to the East boundary line of said Northwest Quarter of the Northwest Quarter to the POJNT OF BEGINNING,