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HomeMy WebLinkAbout923345 l ¿t 1, J ~m;~imI;t ::~:-, t~~~;;~~~:j~m~~ill: ---'-r--. H___ ~ Return To: PBHLC - POST CLOSING MAIL ROOM 000822 1555 W WALNUT HILL LN #200 MC 6712 IRVJ:NG, TX 75038 Prepared By: FIRST HORIZON HOME LOAN CORPORATION RECEIVED 10/13/2006 at 3:05 PM RECEIVING # 923345 BOOK: 636 PAGE: 822 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 3505 EAST OVERLAND DRIVE MERIDIAN, m 83642 ISpace Above This LiDe For Recordiag Data] MORTGAGE MIN 100085200592950481 0059295048 DEFINITIONS Words used in multiple sectiom of this document are defined below and other words are defined in Sectiom 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. I (A) "Security lustrumeot" means this document, which is dated October 10th, 2006 together with all Riders to this document. (B) "Borrower" is CHRISTINE PAPWORTH &: ROBBRT PAPWORTH, Wife &: Husband j Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigm. MEltS is the mortgagee under this Security lustrumeot. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. WYOMING -Single Family- Fannie M-'Freddle Mac UNIFORM INSTRUMENT .-6A(WY) (0006).02 ~. 7 Page ~ of 16 InIIia .. J' wi VMP Mortgage Solutio"". Inc. WITH YERS Fonn 3051 1101 111I1111 111111111 111111 111111111111 000823 oS~a34S (D) "Lender" is FIRST HORIZON HOME LOAN CORPORATION Lender is a CORPORATION organized aDd existing under the laws of THE STATE OF KANSAS Lender's address is 4000 Horizon Way, Irving, Texas 75063 . . (E) "Note" means the promissory note signed by Borrower and dated October 10th, 2006 The Note states that Borrower owes Lender THREE HUNDRED SEVENTY EIGHT THOUSAND &: 00/100 Dollars (U.S. $ 378,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments aDd to pay the debt in full not later than NOVEMBER 1, 203 6 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property. " (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, aDd all sums due under this Security Instrument, plus interest. (II) "Riden" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: o Adjustable Rate Rider o Balloon Rider o VA Rider o Condominiwn Rider o Planned Unit Development Rider o Biweekly Payment Rider [i] Second Home Rider o 1-4 Family Rider o Other(s) [specify] (I) "Applicable Law" means all controlling applicable federal, state aDd local statutes, regulations, ordinances aDd administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "CommUDity Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condomioiwn association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, 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. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ü) condemnation or other taking of all or any part of the Property; (ill) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ü) any amoW1ts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 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 that 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 RESP A. 0059295048 S-6A(WY) (0006).02 II) Page 2 01 16 ~. ~ /?ð/lt? ~ ¿ Form 3051 1/01 :i¡m¡ili~~¡!~iÜj~ ::::*:::;:::~::::::: '~~ ¡::jJ~::,~¡~f;m~m¡f;~@ )I~~~~If~: 000824 OS<J J 4:;, (Q) "Sucœssor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has asswned Borrower's obligations \mder the Note and/or this Secwity Instrwnent. TRANSFER OF RIGHTS IN THE PROPERTY , . This Security Instrwnent secmes to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ü) the performance of Borrower's covenants and agreements \mder this Security Instrwnent and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located in the County of Lincoln (Type of Recording Jurisdiction) (Name of Recording Jurisdiction) All that tract or parcel of land as shown on Schedule RAR attached hereto which is incorporated herein and made a part hereof. Parcel ID Nwnber: County: 4390 COUNTY ROAD 123 BEDPORD ("Property Address"): T33R118S15NE4NE4 City: which cmrently has the address of (Street) (City) ,Wyoming 83112 (Zip Code) 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 this Security Instrwnent. All of the foregoing is referred to in this Secwity Instrwnent as the "Property.· Borrower \mderstands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrwnent, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Secwity Instrwnent. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encwnbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines unifOIUl covenants for national use and non-unifOIUl covenants with limited variations by jurisdiction to constitute a unifOIUl security instrwnent covering real property . 0059295048 «It -6A(WY) (0006).D2 Page 3 0115 'd L? þ? ¿¡µ¡J ~ ~ Form 3051 1/01 -000825 0923345 UNIFORM COVENANTS. Borrower and Lender coveDllDt and agree as follows: 1. Paymeat of Priocipal, IBterest, Escrow Items, Prepaymeat Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pmsuam to Section 3. Payments due under the Note and this Secwity Instrumem shall be made in U.S. currency. However, if any check or other instrumem received by Lender as payment under the Note or this Secwity Instrument is returned to Lender unpaid, Lender may require that any or all subsequem payments due under the Note and this Secwity 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 by 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 DOtice provisions in Section 15. Lender may return any payment or partial paymem if the paymem or partial payments are insufficiem to bring the Loan current. Lender may accept any paymem or partial paymem insufficiem to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial paymems in the funu-e, but Lender is DOt obligated to apply such paymems at the time such payments are accepted. If each Periodic Paymem is applied as of its scheduled due date, then Lender need DOt pay interest on unapplied funds. Lender may hold such unapplied funds WJti.l Borrower makes paymem to bring the Loan currem. If Borrower does DOt do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If DOt applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have DOW or in the future against Lender shall relieve Borrower from making payments due under the Note and this Secwity Instrument or performing the covenants and agreements secured by this Secwity Instrumem. 2. Application of Paymeats 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 remainiTlg amounts shall be applied first to late charges, second to any other amounts due under this Secwity Instrumem, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Paymem which includes a sufficient amount to pay any late charge due, the paymem may be applied to the delinquem paymem and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any paymem received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each paymem can be paid in full. To the extent that any excess exists after the paymem is applied to the full paymem of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepaymems shall be applied first to any prepaymem charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall DOt extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Fuoœ for Escrow Items. Borrower shall pay to Lender on the day Periodic Paymems are due under the Note, until the Note is paid in full, a swn (the "Funds") to provide for paymem of amounts due for: (a) taxes and assessments and other items which can attain priority over this Secwity Instrwnem as a lien or encwnbrance on the Property; (b) leasehold payments or grotwd rems on the Property, if any; (c) premiwns for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiwns, if any, or any swns payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiwns in accordance with the provisions of Section 10. These items are called "Escrow Items.· At origination or at any time during the term of the 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 ñu'nish to Lender all DOtices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items wdess Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of . -4iA(WY) (0006).02 ~ Page 4 of 15 . d /f/1,¡wJ ~ Form 3051 1101 Ùi~;~~~¡~~:~~:~"! '!T~ ::::::~:!f~':::::::j:': ~:;;;:m::::::;.::' 000826 09Z3345 Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all pwposes be deemed to be a covenant and agreement contained in this Secwity Instrwnent, as the phrase ·covenant and agreement" is used in Section 9. If Borrower is obligatbd to pay Escrow Items directly, pW"suam to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revo.lœ the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESP A, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insmed by a federal agency, instrwnentality, or entity (including Lender, if Lender is an institution whose deposits are so insmed) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required 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 amwal accounting of the Funds as required by RESPA. If there is a swplus of Funds held in escrow, as defined under RESPA, Lender shall acC01mt to Borrower for the excess fimds 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 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all swns secmed by this Secwity Inst.rwnent, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Lieos. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Secwity Inst.rwnent, leasehold payments or ground rents on the Property, if any, and Community Association 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 Secwity Inst.rwnent unless Borrower: (a) agrees in writing to the payment of the obligation secmed by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such 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, but only until such proceedings are concluded; or (c) secmes from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Secwity Inst.rwnent. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Secwity Inst.rwnent, Lender may give Borrower a notice identifying the lien. Within 10 e-6A(WY) (0006).02 œ P_60116 · ;VPÚ1l/ ~ e Form 3051 1101 00082? 0923:)4:; 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. LeDder may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by LeDder in connection with this Loan. .. S. Property Insurance. Borrower shalllœep the improvements now existing or hereafter erected on the Property insmed against loss by tire, hazards included within the term "exteDded coverage," and any other hazards including, but not limited to, earthquakes and floods, for which LeDder requires insmance. This insmance shall be mailltained in the amounts (including deductible levels) and for the periods that LeDder requires. What LeDder requires pursuant to the preceding sentences can change during the term of the Loan. The insmance carrier providing the insmance shall be chosen by Borrower subject to LeDder's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. LeDder may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occm which reasonably might affect such determination or certification. Borrower shall also be responsible for the 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 maintai1} any of the coverages described above, LeDder may obtain insmance coverage, at LeDder's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover LeDder, 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 insmance coverage so obtained might significantly exceed the cost of insmance that Borrower could have obtained Any amounts disbursed by LeDder under this Section 5 shall become additional debt of Borrower secmed 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 LeDder to Borrower requesting payment. All insmance policies required by LeDder and renewals of such policies shall be subject to LeDder's right to disapprove such policies, shall include a standard mortgage clause, and shall name LeDder as mortgagee and/or as an additional loss payee. LeDder shall have the right to hold the policies and renewal certificates. If LeDder requires, Borrower shall promptly give to LeDder all receipts of paid premiwns and renewal notices. If Borrower obtains any form of insmance coverage, not otherwise required by LeDder, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name LeDder as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insmance carrier and Lender. Lender may ma1œ proof of loss if not made promptly by Borrower. Unless LeDder and Borrower otherwise agree in writing, any insmance proceeds, whether or not the underlying insurance was required by LeDder, 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. Dwing such repair and restoration period, LeDder shall have the right to hold such insurance proceeds IWtil LeDder has had an opportunity to inspect such Property to ensme the work has been completed to LeDder's satisfaction, provided that such inspection shall be undertaken promptly. LeDder may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insmance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insmance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insmance proceeds shall be applied to .-6A(WY) (0006~02 ~ Pa¡ e 0 of 16 '"' ~ß (U1/ ~ a. Fonn 3051 1/01 ::;::::::::~::i~~:::: ~::~:~&:::.:::::::; ¡~i¡~~~¡!~l¡~¡~~;~*~~; J :::~mmmm~t( "-.-- .--.- -"_.~---_._~-----_..- . -~.-~--'---'--- 000828 092:1345 the sums secmed by this Security Instrwoent, whether or not then due, with the excess, if any, paid to Borrower. Such insmance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and seule any available insmance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the :insmance carrier has offered to seule a claim, then Lender may negotiate and seule 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 rights to any insmance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrwoent, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insmance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insW"ance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrwoent, whether or not then due. . 6. Occupaocy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrwoent and shall continue to occupy the Property as Borrower's principal residence for at least 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, MainteDance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pmsuam to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insmance or condemnation proceeds are paid in connection with damage to, or the talång of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such pwposes. Lender may disbmse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insmance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of 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. 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 inaccmate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representatioWi include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Leader's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrwoent, (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 bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrwoent 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 secmed by a lien which has priority over this Security Instrwoent; (b) appearing in court; and (c) paying reasonable .-6A(WY) (0006).02 œ Page 7 of 16 .û ~tui¡J ~ e Form 3051 1101 000829 09Za:J43 attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secmed position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned <?n or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not lmder any duty or obligation to do so. It is agreed that Lender incms no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secmed 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. 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 Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Iosuraoce. If Lender required Mortgage Insmance as a condition of making the Loan, Borrower shall pay the premiwns required to maintain the Mortgage Insmance in effect. If, for any reason, the Mortgage Insmance coverage required by Lender ceases to be available from the mortgage ÌDSmer that previously provided such ÌDSmance and Borrower was required to make separately designated payments toward the premiwns for Mortgage InsW'ance, Borrower shall pay the premiwns required to obtain coverage substantially equivalent to the Mortgage Insmance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insmance previously in effect, from an alternate mortgage ÌDSmer selected by Lender. If substantially equivalent Mortgage Insmance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the ÌDSmance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insmance. 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 interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insmance coverage (in the amount and for the period that Lender requires) provided by an ÌDSmer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiwns for Mortgage Insmance. If Lender required Mortgage Insmance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiwns for Mortgage Insmance, Borrower shall pay the premiwns required to rnaintJ.in Mortgage Insmance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insmance 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 this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insmance reimbmses Lender (or any entity that purchases the Note) for certain losses it may incm if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insmance. Mortgage ÌDSmers evaluate their total risk on all such ÌDSmance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage ÌDSmer and the other party (or parties) to these agreements. These agreements may require the mortgage ÌDSmer to make payments using any somce of funds that the mortgage ÌDSmer may have available (which may include funds obtained from Mortgage Insmance premiwns). As a result of these agreements, Lender, any purchaser of the Note, another ÌDSmer, any reÌDSmer, 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 Insmance, in exchange for sharing or modifying the mortgage ÌDSmer's risk, or reducing losses. If such agreement provides that an affiliate of Lender t.alœs a share of the ÌDSmer's risk in exchange for a share of the premiwns paid to the ÌDSmer, the arrangement is often termed "captive reÌDSmance." Further: (a) Any such agreements will Dot affect the amounts that Borrower has agreed to pay for Mortgage Iosuraoce, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Iosurance, and they will not entitle Borrower to any refund. 4 Mill.. 1," .-6A(WY) (0006).02 œ> Page 8 0116 j!~l¡iÊllil!r~ r.,·..·'· ·I·f·.· ·t·, .·.·,·t·.·....·,I.....I. ~~:2~;:*;;; ·;;:;:~t;~;:;:.: ..,...~. :~.:l.~.,t¡.,; :: ~:r.:~:::;:rr.:~:::::: 000830 0923345 (b) Any such agreements will DOt affect the rights Borrower bas - if any - with respect to the Mortgage Insurance UDder the Homeowuen Protection Act of 1998 or any other law. Tbese rights may include the right to receive certain disclosures, to request and obtain cancellaöoo of the Mortgage Insurance, to have the Mortgage Insurance terminated automaticaUy, and/or to receive a refUDd of any Mortgage Insurance premiums that were unearned at the time of such cancellaöon or terminatiOn. 11. Assignment of MisceJlaneous Proceeœ; Foñeihlre. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. 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 sucb repair and restoration period, Lender shall have the right to bold such Miscellaneous Proceeds until Lender bas bad an opportunity to inspect such Property to emme the work bas been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbw-sement or in a series of progress 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 earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the swos secmed by this Security Instrwnent, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the swos secmed by this Security Instrwnent, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the swos secmed by this Security Instrwnent immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the swos secmed by this Security Instrwnent shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the swos secmed immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the swos secmed 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 swos secmed by this Security Instrument whether or not the swos are then 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 senteIlCe) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the swos secmed by this Security Instrwnent, whether or not then due. ·Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower bas 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 Instrwnent. Borrower can cme 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 forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrwnent. 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. . -6A(WY) (0006).02 œ> Page g of 15 '""" h? tJifd/ f7!:F- Form 3051 1101 000831 OSZ3J4:¡ 12. BOlTower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the SWDS secured by this Security Instrwnent granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings a~ainst any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify ao1Ortization of the swns 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 in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-sigDecs; Successors and Assigøs Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrwnent but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the SWDS secured by this Secwity Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrwnent in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Secwity Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, 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 charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrwnent or by Applicable Law. If the Loan is subject to a Jaw which sets maximum loan charges, and that Jaw is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any SWDS already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this 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 or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. IS. Notices. All 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 class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to anyone 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 specified procedure. There may be only one designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Secwity Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy !be ,""....>Ddin& equiœmeDI '""'" thU Security ""'rum,,,'. ,~~~ r _ -6A(WY) (0006).02 Page 10 Dl16 Form 3051 1101 ~ miI;:¡~;;~¿¡;;1ikUf1 ,.".."."."",.·,."t~ ..._...~,__....J..;.IIjI ,"õ:J'f:r.nn-;·"··' "¡I.~}:~;¡f",,\, ::::;~;~;::~.:; 000832 OS~:J:J4S 16. Govenúng Law; Severability; Rules of Coostructiou. This Security InstrwDent shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security InstrwDent are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the eveDÌ that any provision or clause of this Security InstrwDent or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security InstrwDent or the Note which can be given effect without the conflicting provision. As used in this Security InstrwDent: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plmal and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security InstrwDent. 18. Traosfer of the Property or a Beuef'1cial 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, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a pmchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security InstrwDent. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this 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 given in accordance with Section 15 within which Borrower µlUSt pay all sums secmed by this Security InstrwDent. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security InstrwDent without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After AcceJeratiou. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security InstrwDent discontinued at any time prior to the earliest of: (a) five days before sale of the Property pw-suant to any power of sale contained in this Security InstrwDent; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security InstrwDent. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security InstrwDent and the Note as if no acceleration had occurred; (b) cmes any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security InstrwDent, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security InstrwDent; and (d) takes such action as Lender may reasonably require to assme that Lender's interest in the Property and rights under this Security InstrwDent, and Borrower's obligation to pay the sums secmed by this Security InstrwDent, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following folIOS, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasmer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insmed by a federal agency, instrwDentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security InstrwDent and obligations secmed hereby shall remain fully effective as if no acceleration had occurred. 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 Grievauce. The Note or a partial interest in the Note (together with this Security InstrwDent) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security InstrwDent and perfolIOS other mortgage loan servicing obligations under the Note, this Security InstrwDent, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the _.. 10 wbkh pa_ dwuId be made ond ..." orho, infunnaûon ,RE~SPA ~~ :f~n wüh a .-6A(WY) (0006~02 Pag.11 0116 . Form 3051 1/01 ~ ~----_._-- -.- 0008:1:1 09;:3345 notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the pmchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note pmchaser. . Neither Borrower nor Lender may coJDJDence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pmsuant to this Security Instrumeut or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrumeut, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for pw-poses of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pmsuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other ðammable or toxic petrolewn products, toxic pesticides and herbicides, volatile solvents, materials conr.ainil\g asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which create~ an Environmental Condition, or (c) which, due to the presence, use, or release of a . Hazardous Substance, creates a condition that adversely 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 normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written 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 which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the 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 other 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 obligation on Lender for an Environmental Cleanup. e-6A(WY) (0006).02 e Page 1201\6 _ V/}twf ~ t Fonn 3051 1101 f::~~::~~i:i:~:::~ b,,~.~.,~~((~: ,,~~j ~¡Im~~I~{: , 000834 OSZ:J34S NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration¡ Remedies. Lender sball give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not: prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default¡ (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured¡ and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice sball further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-exåstence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its optiC)n may require immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable Law. Lender sball be entitled to collect all expeDSes incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of tide evidence. If Lender invokes the power of sale, Lender sball 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 sball give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property sball be sold in the manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeœ of the sale shall be applied in the foUowing 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. 23. Release. Upon payment of all swns seemed by this Security Instrwnent, Lender shall release this Seeurity Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrwnent, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption Jaws of Wyoming. _~WY) (0006~D2 œ Page 13 ot 16 __ i/Ûgu¿fJ ~ {!A Fonn 3051 1101 000835 09;:3J45 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Sec1U'Íty Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: ~~(...; CHRISTINE PAPWOR -Borrower ~~ (seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower 0059295048 .~WY) (0006).02 ~ Page 14 of 15 Form 3051 1101 ~~ !j¡;¡:i:::',':~u::!¡~.-;: 'r ¡' ¡' ¡.;. . '. ~ 1 :', _: ',. f¡'.I;'.f""',¡;¡¡'.j~, .,,'...:.,.....,..,.... :::.:.:...~:-~:~ :~~::: :m¡mm[~;:( 000836 OSZJJ45 STATE OF WYOMING, L:IHCOLN County ss: The foregoing instrument was acknowledged before me this by CHlUST:INE PAPWORTH " ROBERT PAPWORTH 11th day of October. 2006 , . MYCœmnioOOnExpire'~ a1. dO ID ISlA. BNJCE - NOTÞRI P\ØJC n:1 . Of CaurtY Of .. =._I~ e..-~W:::: 0059295048 .-6A(WY) (0006).02 œ> Inllla"': Pag. 16 of 15 Fonn 3051 1101 Exhibit A File 6010615894 Description 000831 OS~:JJ4S The land referred to in this document is situated in the State of Wyoming, County of Lincoln, and is described as follows: The land referred as referred to in the Deed recorded in Book 561PR on page 45; a portion of the land as referred to in the Deed recorded in Book 562PR on page 259; and a portion of the land as referred to in the Deed recorded in Book 507PR on page 585 all in the Office of the Clerk of Lincoln County, Wyoming, all witlún the Northeast Quarter of the Northeast Quarter of Section 15, T33N R118W of the t;th P.M., Lincoln County, WyoDÙng the metes and bound being more particularly described as follows: Beginning at the U.S. Department of the Interior Bureau of Land Management, 1966 location for the Northwest corner of the Northwest Quarter of Section 14 of said T33N R118W; thence S 1°05'40" W, along the west line of said Northwest Quarter, 301.40 feet; thence S 89°54'03" W, parallel with the south line of the Southeast Quarter of Section 11 of said T33N R118W, 287.91 feet; thence N 0°29'52" E, 301.35 feet to a point in said south line; thence N 89°54'03" E, along said South line, 291.05 feet, to the point of beginning. ·1"i~'::I:':~ ;':·'~····~tJ ;@[~m~~r~: 000838 09;:;J;J<¡:; SECOND HOME RIDER THIS SECOND HOME RIDER is made this 10th day of October, 2006 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower· whether there are one or more persons undersigned) to secure Borrower's Note to PIRST HORIZON HOME LOAN CORPORATION (the "Lender") of the same date and covering the Property described in the Security Instrument (the "Property"). which is located at: 4390 COUNTY ROAD 123 BEDPORD, MY 83112 [Property Address] In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree that Sections 6 and 8 of the Security Instrument are deleted and are replaced by the following: 6. Occupancy. Borrower shall occupy, and shall only use, the Property as Borrower's second home. Borrower shall keep the Property available for Borrower's exclusive use and enjoyment at all times, and shall not subject the Property to any timesharing or other shared ownership arrangement or to any rental pool or agreement that requires Borrower either to rent the Property or give a management firm or any other person any control over the occupancý or use of the Property. 8. Borrower's Loan Application. 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 inaccurate information or statements to Lender (or failed to provide Lender with material information) in· connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's second home. 0059295048 MULTlSTATE SECOND HOME RIDER - Single Family - Fannie UNIFORM INSTRUMENT Form 3890 11'01 e-365R (0411) ~ Page 1 of 2 VMP Mortgage Solutions, Inc. (800)521-7291 ~ Mac 17 Initial 'tm.f/ 1111111111111 ~II 111111 11111111 1111 BY SIGNING BELOW, Borrower contained in this Second H e Rider. (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower 0059295048 Clt365R (0411) Page 2 of 2 8:::·~/·:::·] -_. -.-----...-- 000B39 092JJ45 rms and covenants (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower Form 3890 1101 llimfiili~t¡:~!