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HomeMy WebLinkAbout926194 o .µ tJ'I ~ 't1 .r-! ( ) () 't1 ~ ..¡ cO o ~ () .r-! ( )~ ..¡ ( ).µ ..¡ Q.¡ S t'1 ( ) ~ ~ .r-! µ:¡ ( ) ..Q X cO [/)8 .r-! .c: .µ () ~ cO ( ).µ S.µ ;: cO () o 0 Q'µ ? -~ ~, (', I. 'I IC¡ Return To: FHHLC - POST CLOSING MAIL ROOM RECEIVED 1/19/2007 at 3:22 PM RECEIVING # 926194 BOOK: 646 PAGE: 636 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 1555 W. WALNUT HILL LN. #200 MC 6712 IRVING TX, 75038 ..¡ ( ) 't1 .r-! ~ Prepared By: FIRST HORIZON HOME LOAN CORPORATION veD 6/21/2006 at 3:22 PM REC ING # 919538 BOOK: 624 GE: 61 JEANNE WAGN LINCOLN COUNTY CLERK, KEMMERER, WY 1315 SOUTH HIGHWAY 89, SUITE 101 JACKSON, WY 83001 [Space Above This 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 IVED 8/22/2006 at 9:58 AM REC ING # 921558 BOOK: 631 PAGE: 108 JEANNE GNER LINCOLN COUNTY CLERK, K MERER, WY ("Borrower"). This Security Instnlll1ent is given to FIRST HORIZON HOME LOAN CORPORATION which is organized and existing under the laws of whose address is 4000 Horizon 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 SéUl1e date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on July 1st, 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 tl1e security of tl1is Security Instrumel,t; and (c) the perfoffi1ance NOTE: This serves to correct that certain mort gage recorded June 21, 2006 in Book 624PR on page 61 to correct the acknowledgement. FIlA Wyoming Mortgage - .-4R(WY) (0509) ® VMP Mortgage Solutions. Inc Page 1 of 9 Inllials. -( NOTE: This serves to a~)~~ ax Exempt recording August-2(2, 2006 in Book Lincoln County Clerk. 11111111111111111111111111111111111 Financing River to that certain mortgage 631PR on page 108 of the records of the ¡ ·~o,i¡ ".År~' :j.~'j v .~"I.A....JF ,..~ ,f ,·6.~~ "ß 1 t:'" r :.;, '1",: \.',,~~, . ,J¡,~~(..:::.¡¡ 0001.09 r- ' t.OOG62 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, tbe following described property 100.:ated in Lincoln County, Wyoming: All that tract or parcel of land as shown on Schedule IIAII attached hereto which is incorporated herein and made a part hereof. 000637 0926194 Parcel ID Number: which has the address of Afton County: 12321819200096.00 City: 56 Twin Cliffs Road, [City], Wyoming 83110 [Streel] [Zip Code] ("Property Address"); TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances and tixtures now or hereafter a part of the property. All replacements and additions shall a]so be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as tbe "Property." BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances 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 unifonn covenants for national use and non-unifoml 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 the principal of, and interest on, the debt evidenced by the Note and late L.:harges due under the Note. 2. Monthly Payment of Taxes, Insurance and Other Charges. Borrower shall indude in each monthly payment, together with tbe prinL.:ipal and interest as set t(¡rth in the Note and any late charges, a sum for (a) taxes and speL.:ial assessments levied or to be levied against the Property, (b) leasebold payments or ground rents on the Property, and (L.:) premiums for insurance required under paragraph 4. In any year in which the Lender must pay a mortgage insuranœ 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 either: (i) a sum for the annual mortgage insurance premium to be paid by Lender to the SeL.:retary, or (ii) a monthly charge instead of a mortgage insuranœ premium if ùlis Security Instrument is held by the Secretary, in a reasonable amount to be determined by ùle Secretary. Except for the monthly charge by the Secretary, these items are called "Escrow [tems" and ùle sums paid to Lender are L.:alled "Escrow Funds." Lender may, at any time, L.:ollect and hold wnounts for Escrow Items in an aggregate amount not to exœed the maximum Wllount that may be required for Borrower's escrow account under ùle Real Estate Settlement Procedures AL.:t of 1974, 12 USe. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be iUllended ti'om time to time ("RESP A"), except ùlat the L.:ushion or reserve permitted by RESP A for unanticipated disbursement·, or disbursements before the Borrower's payments are available in Ùle account may not be based on ,U1lOunts due for e mortgage insurance premium. 0057940793 0-4R(WY) (0509) @ Page 2 of 9 092619l\ d ~<..t¡ ,',. ,-"..." . , v ..J ..£" ~..:!! ~'.¡ 0 ':~'J - . l.t-r;h¡ 09~< ..J...;d 000110 000('.63 OOOG~S If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESPA, Lender shall account to Borrower for the excess funds as required by RESPA, If ùle amounts of funds held by Lender at any time are not sufticient to pay the Escrow Items when due, Lender may notify the Borrower and require Borrower to make up the shortage as permitted by RESPA. The Escrow Funds are pledged as additional security for all sums secured by ùlis 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 Ùle Secretary, and Lender shall promptly refund any excess funds to Borrower. Immediately prior to a foreclosure sale of ùle Property or its acquisition by Lender, Borrower's account shall be credited WiÙl 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 Ùle mortgage insurance premium to be paid by Lender to the Secretary or to Ùle monthly charge by the Secretary instead of Ùle monùlly mortgage insurance premium; Second, to any taxes, special assessments, leasehold payments or ground rents, and tire, tlood and other hazard insurance premiums, as required; Third, to interest due under Ùle Note; FourÙl, 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 tire, fÒr which Lender requires insurance. This insurance shall be maintained in ùle éUl10unts and for Ùle periods ùlat Lender requires. Borrower shall also insure all improvements on the Property, whether now in existence or subsequently erected, against loss by t100ds 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 Ülvor of, and in a form acceptable to, Lender. [n 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 concerned is hereby authorized 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, eitller (a) to the reduction of Ùle indebtedness under tlle Note and this Security Instl1lment, tirst to any delinquent amounts applied in the order in paragraph 3, and then to prepayment of principal, or (b) to the restoration or repair of Ùle damaged Property. Any application of the proceeds to the principal shall not extend or postpone Ùle due date of the montllly payments which are referred to in paragraph 2, or change tlle amount of such payments. Any excess insurance proceeds over an ~U1lount required to pay all outstanding indebtedness under ùle Note and tl1is Security Instl1lment shall be paid to the entity legally entitled tllereto, In tlle event of foreclosure of this Security Instl1lment or other transfer of title to the Property that extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the 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 tl1is 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 ]east one year 'Ifter the 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, dcunage or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property if the Property is vacant or abandoned or the loan is in det~lult. Lender may take reasonable action to protect and preserve such vacant or abandoned Property. Borrower shall 0057940793 Q-4R(WY) (0509) ® Page 3 of 9 Inillals 09Z61S,* 0001.1.1. OOOG~9 C00064 J~"n"H Ut~·.r{Q ".J" ,,,.' ..ð~o:-..J1 ~.),~t..:J p. f,Y ~ 1 r-. r- 'f,:) \"'.~'J.....,.. ,_}...](J also be in det~lUlt if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or htiled to provide Lender with any material information) in connection with the loan evideliced by the Note, including, but not limited to, representations concerning Borrower's occupancy of tile Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of tile lease. If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to tile 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 fÖr conveyance in place of condemnation, are hereby assigned and shall be paid to Lender to the extent of the full éUl10unt of the indebtedness that remains unpaid unde~ ùle Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, tìrst to any delinquent amounts applied in the order provided in paragraph 3, and then to prepayment of principal. Any application of tile proceeds to tile principal shall not extend or postpone the due date of the montilly payments, which are referred to in paragraph 2, or change the amount of such payments. Any excess proceeds over an éUnount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to tile entity legally entitled thereto. 7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall paYI all governmental or municipal charges, tines and impositions that are not included in paragraph 2. Borrower shall pay these obligations on time directly to the entity which is owed tile payment. If t~tilure to pay would adversely affect Lender's interest in tile Property, upon Lender's request Borrower shall promptly furnish to Lender receipts evidencing these payments. If Borrower fails to make these payments or tile payments required by paragraph 2, or fails to perform any other covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may signiticélntly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), tilen Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights in ùle Property, including payment of taxes, hazard insurance and other items mentioned in paragraph 2. Any amounts disbursed by Lender under ùÜs paragraph shall become an additional debt of Borrower and be secured by ti1Ìs Security Instrument. These éU1l0unts shall bear interest from the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to tile payment of ùle obligation secured by the lien in a manner acceptable to Lender; (b) contests in good hlitil tile lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satist~lctory to Lender subordinating tile lien to this Security Instrument. If Lender detennines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of tile actions set forth above within 10 days of the giving of notice. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. (a) Default. Lender may, except as limited by regulations issued by tile Secretary, in tile case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument if: (i) Borrower det~lUlts by failing to pay in full any monthly payment required by this Security Instnlll1ent prior to or on the due date of the next monthly payment, or (ii) Borrower det~1Ults by titiling, for a period of thirty days, to perfÖrm any oùler obligations contained in this Security Instrument. (b) Sale Without Credit Approval. Lender shall, if pemlitted by applicable law (including Section 341 (d) of the Garn-St. Germain Depository Institutions Act of 1982, 12 U.s.C.170lj-3(d») and with the prior approval of the Secretary, require immediate payment in full of all sums secured by this Security Instrument if: 0057940793 .-4R(WY) (0509) ® Page 4 01 9 ; ·,1 'c~¡'¡i 'Ü 1.'"; " í".~ 4.) ~...I__~.-:f,,,J1I:..~ ...... ...... 092619{~ 0006-10 COO(65 (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 the 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 with the requirements of the Secretary. (c) No ""aiver. If circumstances occur that would permit 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 circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment dehLUlts, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. (e) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are not determined to be eligible for insurance under the National Housing Act within 60 days from the 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 the Secretary dated subsequent to 60 days from the date hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwiúlstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the 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 this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shaH remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of payment or moditication of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the 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 otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's suc¡;essors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of ùlis Security Instrument shall bind and benetit the successors ami assigns of Lender and Borrower, subject to the provisions of paragraph 9(b). Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instmment but does not execute the Note: (a) is co-signing this Security lnstrument only to mortgage, grant and convey that Borrower's interest in ùle Property under the tenns of this Security Instrument; (b) is not personally obligated to pay ùle sums secured by ùlis Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. n f..:~~~'" t-, r; t-~I '\."L.¡~..:3v~J"'.".¡ .:1 000112 0057940793 Q-4R(WY) (0509) ® Page 5 01 9 dr~~"~ ~~-:';:~8 ..] t..9 ...~~J1 ." OOOG.,1:1 r f) 0, c, 6 6 '.' ,) l 13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it 01' by mailing it by tirst 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 tirst class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any nÓtice 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 Ùle law of the jurisdiction in which the Property is located. In Ùle event that any provision or clause of th;s Security Instrument or tht Note contlicts with applicable law, such contlict shall not affect oÙler provisions of this Security lnstrument or Ùle Note which can be given effect without the contlicting provision. To this end Ùle provisions of ùlis Security Instrument and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. 16. Hazardous Substances. Borrower shall not cause or pennit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property, Borrower shall not do, nor allow anyone else to do, anything affecting Ùle Property Ùlat is in violation of any Environmental Law. 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 nonmtl residential uses and to maintenance of Ùle Property. Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other actiOll by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance IJr Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notitied by any government,i! or regulatory authority, that any removal or other 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 those substances detined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other tlammable or toxic petroleum products, toxic pesticides and herbicides, volati Ie sol vents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 16, "Environmental Law" means feoeral laws and laws of the jurisdiction where ùle Property is located that relate to heaJùl, safety or environmental protection. ... . ''''1.cr''''j 1J~j...~, .....1..."J.J'· 000113 0926194 NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the rems to Lender or Lender's agents. However, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect élnd receive all ,'ents and revenues of the Property as trustee for the benetit 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 benetit 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 the rents of the Property; and (c) each tenant of Ùle 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 the rents and has not and will not perform 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 the Property before or after giving notiCe of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any applicéltion of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in full. 0057940793 .-4R(WY) (0509) ® Page 6 of 9 092619ll V'J'VW,,)C%~ .rJ'ü..¡¡ tit."" ,,- ;.~,J u,,; ·.)1 <~ ,,)., ,. ~ ,) ~J :0··' -.:. -.;01 t..~ r:~ 1. I . ~...1 ~~ ..." \.". -:; "",,;:' \ ,) 000114 COOl67 18. Foreclosure Procedure. If' Lender requires immediate payment in full under paragraph 9, Lender may invol{e 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 p,"ovided in this paragraph 18, including, but not limited to, reasonable attorneys' fees and costs 01' title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to I'oreclose to Borrower and to the person in possession of the Property, il' dil'l'e,"ent, in accordance with applicable law. Lender shall give notice 01' 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. It' 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 01' 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 and to sdl the Property as provided in the Act. Nothing in the preceding sentence shall deprive the Secretary 01' any rights otherwise available to a Lender under this Paragraph 18 or applicable law. 19. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument witl10ut charge to Borrower. Borrower shall pay any recordation costs. 20. Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes all rights of curtesy and dower in the Property. 21. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together Witll this Se¡;urity Instrument, the covenants of eadl SUdl rider shall be inl:OqJorated into and shall amend and supplement the ¡;ovenants and agreements of this Se¡;urity Instrument as if the rider(s) were a part of this Security Instrument. [Check applil:able box(es)]. D Condominium Rider D Planned Unit Development Rider D Growing Equity Rider D Graduated Payment Rider [X] Other [specify] Tax Exempt Financing Rider 0057940793 .-4R(WY) (0509) ® Page 7 of 9 ,J·\··ï.{\. 'ii Ot"'~;~~t~ ,},...iI.'Of~c-.·,1tt¡,,_' ,JJ. 9.--"'--" 1£'.-. t .-,~ ·..1......... '.II...J<. 0926194 0001.1.5 r.OOQG·13 '. OOt 68 BY SIGNING BELOW, Borrower accepts and agrees to the terms contained ill this Security Instrument and in allY rider(s) executed by Borrower and recorded with it. Witnesses: (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower 0057940793 G-4R(WY) (0509) ® (Seal) -Borröwer ~~~L ~ -/9~00 (Seal) -Bol"l'lJl\'er (Seal) -IJon·()\\'er (Seal) -!JOIT\)Wer (Seal) -I h 'nÙwer Page 8 01 9 ,.{) '.l) '19 ~~:; ;~. f3 IJII'-j" b1t'" r-· F· '\ '~,F",." -.h.yd 0926194 STATE OF WYOMING, LINCOLN The foregoing instrument was acknowledged bet"iJre me this by JAY A SPRECHER & PAMELA S SPRECHER My ConmlÍssion Expires: {,. &:2 /) - tP o'() 7 JILL H. LARSON· NOTARY PUBUC OOUNTY OF UOOOLN STÞ:I'E OF WYOMING MV COMMISSION EXPIRES JUNE 20 2007 0057940793 S-4R(WY) (0509) @ Page 9 01 9 r·· no '-·69 :.' \} li 000116 0006-14 County 55: 19 f:}v r/ ~ (J1) 'I "","ry"l~ ¡J d ~ ~ i:/. d~ J " ~" UC' ".~) '..1 "...) 4~~J' t,,]''"'t~] 'l)<f,~~,:..tlc; ¡':;, 1';¡ . - .~,{/ ...,., .': .. .)'J 'II_.\. \ -' 0001.17 0006,15 000070 092619'1 0057940793 EXHIBIT "A" A portion of Section 19, T32N R118W of the 6th P.M., Lincoln County, Wyoming more particularly described as follows: BEGINNING at a point on the North boundary line ofthe Northwest Quarter ofthe 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 boundary of said 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 POINT OF BEGINNING. 00064S 0926134 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. Witness: (Seal) Borrower (2 (Seal) Borrower (Seal) Borrpwer (Seal) Borrower (Seal) Borrower (Seal) Borrower (Seal) Borrower 0057940793 0926194 000647 STATE OF WYOMING, LINCOLN County ss: , (I ý¿ The foregoing instrument was acknowledged before me this ~ day of January, 2007 by Jay A. Sprecher & Pamela S. Sprecher DONNA BOOTH - NOTARY PU8L1C COUNTY OF STATE OF LINCOlN WYOMING MY COMMISSION EXPlflES SEPT. 20, 2007 Notary Public Initials 0057940793 Initials ~!~ :::{J --..J J ~ I Y U /',.,\;:> MORTGAGE ADDENDUM 092619£1 The following is an Addendum to the Mortgage. incorporated into, and recorded with, the Mortgage. The addendum shall be 000648 TAX EXEMPT FINANCING RIDER This Tax-Exempt Financing Rider is incorporated into and shall be deemed to amend the terms of the Mortgage to which it is attached. In addition to the covenants and agreements made in the Security instrument, Borrower and Lender further covenant and agree as follows: Lender, or such of its successors or assigns as may, by separate instrument, assume responsibility for assuring compliance by the Borrower with the provisions of this Tax Exempt Financing Rider, may require immediate payment in full of all sums secured by this Security Instrument if: a) All of part of the Property sold or otherwise transferred (other than by devise, descent or operation of law) by Borrower to a purchaser or other transferee: i) Who cannot reasonably be expected to occupy the property as a principal resident within a reasonable time after the sale or transfer, all as provided in Section 143(c) and (i) (2) of the Internal Revenue Code; or ii) Who has had a present ownership interest in a principal residence during any part of the three year period ending on the date of the sale or transfer, all as provided in Section 143(d) and (i) (2) of the Internal Revenue Code; or iii) At an acquisition cost which is greater than 90 percent of the average area purchase price (greater than 110 percent for targeted area residences), all as provided in Section 143(e) and (i) (2) of the Internal Revenue Code; or iv) Whose family income exceeds applicable income limits as provided in Section 143(f) and (i) (2) of the Internal Revenue Code. b) Borrower fails to occupy the property described in the Security Instrument without prior written consent of the lender or its successors or assigns described at the beginning of this Tax Exempt Financing Rider, or c) Borrower omits or misrepresents a fact that is material with respect to the provisions of Section 143 of the Internal Revenue Code in an application for the loan secured by this Security Instrument. References are to the Internal Revenue Code as amended, in effect on the date of execution of the Security Instrument and are deemed to include the implementing regulations. LOW, Borrower accepts and agrees to the terms and provisions mpt Financing Rider. ..,...---_...~'\ (/ ..,I)) { cr- "-':.:/tJAj( c JcCLJf i! (. /L,,-- Borrower