HomeMy WebLinkAbout929249
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MAY-04-2uu( 11:51
First Horizon
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6010715145
~elurn To:
FHHLC - POST CLOSING MAIL ROOM
1555 W WALNUT HILL LN ~200 MC 6712
IRVIIqG TX, 75038
1315 SOUTH HIGHNAY 89, SUITE 101
JACKSON, WY 83001
RECEIVED 5/10/2007 at 2:37 PM
RECEIVING # 929249
BOOK: 657 PAGE: 520
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Prepared By:
VIRST HORIZON HOME LOAN CORPORATION
[Spaea Above This Line For Rccof"wng Data]
FHA Casc No.
State of Wyoming
MORTGAGE
591~1003744-703
0060702354
TInS MORTGAGE ("Security InstrUment") is given on May 4th, 2007
The Mortgagor is JASON DBCORA &
¡q
("Borrower"). This Security Instrument is given 10
FIRST HORIZON HOME LOAN CORPORATION
,
which is organized and existing under the laws of THB STATB OV KANSAS . and
whose address is 4000 Horizon Way, IRVJ:NG, TX 75063
("Lender"), Borrower owes Lend~ the principal sum of
om: HUNDRED SIXTY TWO THOUSAND NINE HUNDUD PORTY THREE & 00/100
Dollars (U.S. $ lG2,943.00 ).
This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides
for monthly payments, with the full debt, if not paid earlier, due and payable on ..rune lli1t:,
2037 ' This Security Instroment secures to Lender: (Ii) the repayment of the debt evidenced by the
Note. with interest, and all renewals, extensions and modifications of the Note; (b) the payment of aU other sums, with
interest, advanced under parngraph 7 to protect the security of this Security Instrumont; and (c) the perfonnance
FHA WYOJI'I'''e MortgRge - 4/96
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of Borrower's covenants and agreements under this Security Instrument and the Note. For this purposc, Borrower does
hereby mortgage, grant and convey to the Lender with power of sale, the following described property located
in Lincoln County. Wyoming:
All that tract or pà~oel of land as shown on Schedule "A" attached
he~eto whioh is inoorporated he~ein and made a part hereof.
Parcel ID Number:
which h8ß the address of
AFTON
County I City;
1836 RWY 241,
[City]. Wyoming 83110
[StI'OBt
[Zip Codè ("Property Address");
TOGETHER WITH all the improvements now or hereafter ereêted on the property, and all easements,
appurtenances and f'txtures now or hereafter a part of tho property, All replacements and additions shall also be covered
by thi SecUrity Instrument. All of the foregoing is referred to m this Security Instrument as the "Property."
BORROWER COVENANTS that Borrower is lawfully seized of the estate hercby 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 uniform covenants for national US(,'l and non-uniform covenants with
limited variations by jurisdiction to constitute a uniform security mstrument 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 charges due under the Note.
2. Monthly Payment of Taxes. Insurance and Other Charges. Borrower shall include in each monthly payment,
together with the principal and interest as set forth in the Note and any late chargos, a sum for (a) taXes and special
assessments levied or to be levied against the Property, (b) leasehold payments or ground rcots on the Property, and (c)
premiums for insurance required under paragraph 4. In any year in which the Lender must pay a mortgage insurance
premíum to the Secretary of Housing and Urban Development ("Secretary"), or in any year in which such premium
would have been required ü 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 Secretary, or (li) a monthly charge instead
of a mortgage insurance premium if thís Security Instrument is held by the Secretary, in a reasonable amount to be
determined by the Secretary, Except for the monthly charge by the Secrelm'y, these items are called "Escrow Items" and
the sums paid to Lender are called "Escrow Funds,"
Lender may, at any time, collect and hOld amounts for Escrow Items in an aggregate amount not to exceed the
maximum amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures Act
of 1974, 12 U.S,C. Section 2601 et seq, and implementing regulations, 24 cPR Part 3500, 8ß they may be amended
from time 10 time (ItRESPA "), except that the cushion or roserve pennitted by RESPA for unanticipated disbursements
or disbursements before the Borrower's payments are available in the account may not be based on amounts due for the
mortgage Ù\$urance premium.
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If the amounts held by Lender for Escrow hems ~eed ti'le amounts pennitted to be held by RBSPA, Lender shalt
account to Borrower for the excess funds as required by RESP A If the amounts of funds held by Lender at any time are
not sufficient to pay the Escrow Items when due, Lender may notify the Bonuwer and require Borrower to make up the
shortage as permitted by RESP A.
The Escrow Funds are pledged as addiIional security for all sums secured by this Security Instrument If Borrower
tenders to Lender the full payment of all such sums, :Borrower's account shall be credited with the balance remaining for
all installment items (a), (b). and (c) and any mortgage insurance premium installment that Lender has not become
obligated to pay to the Secremry, and Lender shall promptly refund any excess funds to Borrower. Immediately prior to
a foreclosure sale of the Property or its acquisitíon by Lender, Borrower's account shall be credited with any balance
remaining for all insUillments for items (a), (b), and (c).
3. Application or Payments. All payments under paragraphs I and 2 shall be applied by Lender as follows:
Firs\, to the mortgage insurance premium to be paid by Lender to the Secremry or to the monthly charge by the
Secretary instead of the monthly mortgage insurance premium;
~, to any taxes, special assessments, leasehold payments Or ground rents, and fire, flood and other hazard
msurance premiums, as required;
Third. to interest due under the Note;
EQutlb., to amortization of the principal of the Note; and
Eifih, to late charges due under the Note.
4. Fire, Flood and Other Hazard IDliiurance. Borrower shall insure ail improvements on the Property, whether
now in existence or subsequently erected, against any h~ards, casualties, and contingencies, including CI1'e. for which
Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires,
Borrower shall also insure aI1 improvements on the Property, whether now in existence or subsequently erected, agaìnst
loss by floods to the extent required by the Secretary. All insurance shall be canied with companies approved by Lender,
The insurance policies and any renewals shall be held by Lender and shall include loss payable clauses in favor of, and
in a form acceptable to, Lender.
In the event of loss, Borrower shall give Lender ìmmediate notice by mail. Lender may make proof of loss if not
made promptly by Borrower. Each insurance company concemed is hereby authorized and directed to make payment for
such loss directly to Lender, ins~d of to Borrower and to Lender jointly. All or any part of the insurance proceeds may
be applied by Lender, at ìts option, either (a) to the reduction of the indebtedness under the Note and this Security
Instrument, fltst to any delinquent amounts applied in the order in paragraph 3, and then to prepayment of principal, or
(b) to the restoration or repaìr of the damaged Property. Any application of the proceeds to the principal shall not extend
or postpone the due date of the monthly payments which are referred to in paragraph 2, Or change the amount of such
payments, Any exCess insurance proceeds over an amount required to pay all OUtBtBnding indebtedness under the Note
and this Security Instrument shall be paid to the entity legally entitled thereto,
In ti'le event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes the
indebtedness, all right, title and interest of Borrower in and to insurance po1icias in force shall pass to tho purchaser.
5. Occupancy, Preservation, Maintenance and Protection of the Property; BO'ITOwer's Loan Application;
Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sbtty days
after the executíon of this Security Instrument (or within sixty days of a later salo Or transfer of the Property) and shall
continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy,
unless Lender determines 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 circumStBnces. Borrower
shall not commit waste or destroy, damage or substBntially change the Property or allow the Property to deteriorate,
Itàsonable wear and tear excepted. Lender may inspect the Property if the Property is vacant or abandoned Or the loan is
in defau.lt, Lender may take reasonable action to protect and preserve such vacant or abandoned Property. Borrower shall
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also be in default íf Borrower, during the loan application pro<:~ss, gave materially false Or inaccwate infonnation or
statements to Lender (or failed to provide Lender with any material informaûon) in connecûon with the loan evidenced
by the Note, including, but not limited to, representations concerning Borrower'S occupancy of the Property as a
principal residence, If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease,
If Borrower acquires fee title to the Property, the leasehold and fec title shall not be merged unless Lender agrees to the
merger in writing.
6. Condemnation. The proceeds of any award or claim for damages. direct or consequential. in connection with
any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby
assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the
Note and this Security Instrument Lender shall apply such proceeds to the reduction of the indebtedness under the Note
and this Security Instrument, first to any delinquent amounts applied in the order provided in paragraph 3, and then to
prepayment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of the
monthly payments, which are referred to in paragraph 2, or change the amount of such payments, Any excess proceeds
over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to
the entity legally entitled thereto.
7. Charges to Borrower and Protection of Lender's Rights m the Property. norrower shall pay all
govemmcnta1 or municipal charges, fmes and impositions that are not included in paragraph 2. narrower shall pay these
obligations On time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's
interest in the Propeny, upon Lender's request Borrower shall promptly furnish to Lender receipts evidencing these
payments.
If Borrower fails 10 make the.~e payments or the payments required by paragraph 2, or fails to perform any other
covenants and agrcomcnts contained in this Security Instrument. or there is a legal proceeding thai. may significantly
affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or
regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights
in the Property, including payment of taxes, hauud insurance and other items mentioned in paragraph 2,
Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be
secured by this Security InstrumenL These amounts shall bear interest from the date of disbursement, at the Note rate,
and at the option of Lender, shall be immedíately due and payable.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in
good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion
opemte to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfsctory ro
Lender subordinating the lien to this Security Instrument If Lender determines that any part of the Property is subject ro
a lien which may attaín priority over this Security Instrument, Lender may give Borrower a notice identifying the lien.
Borrower shall satisfy the lien or ælœ one or more of the actions set forth above within 10 days of the giving of nodce.
8. Fees. Lender may collect fees and charges authorized by the Secretary.
9. Grounds for Acceleration of Debt.
(a) Default. Lender may, ~cept as limited by regulations issued by the Secretary, in the case of payment
defaults. require immediate payment in full of all sums secured by this Security Instrument if:
(i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument
prior to or on the due date of Ille next monthly payment, or '
(ü) Borrower defaults by failing, for a period of thirty days. to perform any other obligations contained in
this Security Instrument,
(b) Sale Without Credit Approval Lender shall, if permitted by applicable law (including Section 341(d) of
the Garn-St, Gennaín Depository Institutions Act of 1982, 12 U,S,C. l70lj-3(d» and with the prior approval of
th~ S~cretaIy, require immediate payment in full of all sums secured by this Security InstrUment if:
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(i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold Or
otherwise transferred (other than by dcvise or descent). and
(ü) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the
purchaser or grantee does so occupy Ùle Property but his or her credit has not been approved in accordance
with Ùle requirements of the Secretary.
(c) No Waiver. If circumstances occur Ùlat would permit Lender to require immediate payment in full, but
Lender does not requjre 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 defaults, to require immediate payment in full and foreclose if not paid.
This Secmty Instmment does not aUÙlorize acceleration or foreclosure if not pennitted by regulations of the
SecTetary .
(e) Mortgage Not Insured. BOITOwer agrees that if this Security Instrument and the Note are not determined to
be eligible for insurance under the National Housing Act witlùn 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,
Notwithstanding 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. Bonower has a right to be reinstated ü Lender has required immedjate payment in full because
of Borrower's failure to pay an amount due under the Note or this Security InstrumenL This right applies even after
foreclosure proceedings are instituted.. To reinstate the Security Instrument, Borrower shalt tender in a lump sum all
amounts required to bring Borrower's account current including, to tho cxtetll they are obligations of Borrower under
this Security 1nstrument, foreclosure costs and reasonable and customary attorneys' fees and ~penses properly
associated with thc foreclosure proceeding, Upon reinsfatemenL by Borrower. this Security Instrument and the
obligations that it secures shall remain in effect as if Lender had not requiIed immediate payment in full. However,
Lender is not required to pennit reinsratcment if: (i) Lender has accepted reinstatement after the commencement of
foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure
proce.eiling, (ii) reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will
adversely affect the priority of the liencreateà by this Security Instrument.
11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the rime of payment or
modification 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 successo~s 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, Successof's and Assigns Bound; Joint and ~e~eraJ Liability; Co.Signers. The covenants and agreements of
this Security Instrument shall bind and benefit the successors 8Ild 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 Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to
mortgage, grant and convey that Borrower's interest m the Property under the terms of this Security Instrument; (b) is
not personally obligated to pay the sums secured by this Secwity 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 consen~
I
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13. Notices. My notice to Borrower ptOvidod fot in this Security InstrlUl'lent shall be given by delivering it or by
mailing it by fIrst class mail unless applicable law requires use of another method. The notice shall be directed to the
Prope.rty Address or any other address Borrower designates by notice 10 Lender. Any notice 10 Lender shall be given by
first class mail to Lender's address stated herein or any address Lender designates by notice In Borrower, Any notice
provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as
provided in this paragraph.
14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the
jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument Or the
Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Inslrument or the Note
which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and
the Note are declared to be sevemb[e.
15. narrower's Copy. Borrower shall be given one conformed copy of the Note and of this Securily 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 al10w anyone else to do, anything affecting
the Property that is in violation of any Environmental Law. The prec:ooing 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.
Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by
any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or
Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or
regulatory authority, that any removal Or other remediation of any Hazardous Substances affec:ting the Property is
necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Lnw.
As used in this paragraph 16, "Hazardous Substances" are those substances dermed as toxic or hazardous
Sl,1hstances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum
products, toxic pesticides and h~rbicides, volatile solvents, materials containing W3bestos or formaldehyde, and
radioactive materials. As used in this paragraph 16, "Environmental Law" means federal laws and laws of the
jurisdiction where the Property is located that relate to health, safety or environmental protection,
NON-UNIFORM COVENANTS. Borrower and Lender fur1her covenant and agree as follows:
17. Assignment or Rents. Bottower unconditionally assigns and tranSfers to Lender ail the rents and revenues of
the Propeny. Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each
tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Borrower of
Borrower's breach of any covenant or agreement in the Sec:urity Instrument, Bottower shall collect and teceive all rents
and revenues of the Property as trustee for the benefit of Lender and Borrower, This assignment of rents constitutes an
absolute assignment and not an assignment for additional security only,
If Lender gives noUce of breach to Borrower: (a) al1 rents received by Borrower shall be held by Borrower as
trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; (b) Lender shall be
enti¡]ed to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay aU rents due
and unpaid to Lender or Lender's agent on Lender's written demand to the tenant.
Borrower has not executed any prior assignment of the rents and has not and will not perfonn any act that would
prevent Lender from exercising its rights under this paragraph 17.
Lender shall not be required to enter upon, take control of or maintain the Propeny 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
application 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 tenninate when the debt secured by the Security Instrument is paid in fùU.
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18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9t Lender may
invoke the power of sale and any other remedies permitted by applicable Law. Lender shall be entitled. to collect
aU expenses incurred in pursuing the remedies provided in this paragraph 18, includingt but Dot limited tOt
reasonable attorneys' fees and costs of title evidence.
If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the
person in possession of the PropertYt if diJTerent, in accordance with applicable law. Lender shall give notice of
the sale to Bo....ower in the manner p..ovided in paragraph 13. Lender shall publish the notice of sale, and the
Property shaD be sold in the manner prescribed by applicable law. Lender or its designee may purchase tbe
Property at any sale. The proceeds of tbe sale shall be applied in the following ordsr: (a) to aD e1:penses of the
sale, including, but not limited tOt reasonable attorneyst feÐSi (b) to aU sums secured by tbis Security Instrument¡
and (c) any excess to the person or persons legally entitled to it.
If the Lender's interest in tbis Security Instrument is held by the Secretary and the Secretary requires
immediate payment in full under Paragraph 9t the Secretary may invoke the nonjudicial power of sale provided
in the Single Family Mortgage FOreclosure Act of 1994 ("Act") (12 U.s.C. 3751 et seq.) by requesting a
foreclosure commissioner designated under the Act to commence foreclosure and to seU the Property as provided
in the Act. Nothing in the preceding sèntence shan deprive the Secretary of any rights otherwise available to a
Lender under this Paragraph 18 or applicable law.
19. Release. Upon payment of all SWßS secured by this Security Instrument, Lender shall release Ibis Security
Instrument wjthout charge to Borrower, Borrower shall pay any recordation costs.
20. Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes'aU 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
with this Security Insttument. the covenants of each such rider shall be incotporated into and shall amend and
supplement the covenants and agreements of this Security Instrument as if the rider(s) were a par\. of this SccuriLy
In~mcnl [Check applicablo box(cs)],
U Cond6minium Rider 0 Growing Equity Rider 0 Other [specify]
D Planned Unit Development Rider 0 Graduated Payment Rider
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BY SIGNING BELOW I Borrower accepts and agrees to the tenns contained in this Security Instrument and in any
ride.r(s) executed by Borrower and recorded with it.
Witnesses:
¡g'1 µ~
~~ SON DECORA
(Seal)
-Borrower
(Seal)
-Borrowllt
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrowor
(Seal)
-Borrower
(Seal)
-Borrower
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STATE OF WYOMING,
LINCOLN'
County ss:
The foregoing instrument was acknowledged before me wis -9 ~ ola."u r?-fJ?7Jc;u..¡ I 2 007
by JIiSON DSCORA / - jI / .
My Commission Expires:
9--/5-07
N~cvUcv hi ~
GLORIA K. BYERS· NOTARY PUBLIC
County of State of
Uncoln Wyoming
My CommissIon Expires Sept. 15. 2007
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Ü~)29249
Exhibit A
File 6010715145 Description
000529
The land referred to in this document is situated in the State of Wyoming, County of Lincoln, and is
described as follows:
A portion of the Southwest Quarter of the Northwest Quarter of Section 19, Township 31
North, Range 118 West, 6th P.M., South of Osmond, Lincoln County, Wyoming and being more
particularly described as follows:
The True Point of Beginning being a Magnetic P.K. Nail set in the West line of said Southwest
Quarter of the Northwest Quarter 329.68 feet, more or less, North from a B.L.M. type
monument found marking the Southwest Corner of said Southwest Quarter of the Northwest
Quarter, said point of beginning also being the Northwest Corner ofthat tract ofland
described in Book 361PR on page 687, Lincoln County, Wyoming;
thence North, along said West line, 164.73 feet, more or less, to a Magnetic PK nail set, said
point being the Northwest Corner of that tract of land described in Book 372PR on page
439, Lincoln County, Wyoming;
thence North 89°55'10" East 529.28 feet to the Iron Pipe Set;
thence South 164.71 feet more or less, to the Iron Pipe set, said point being on the North line of
that tract of land described in Book 361PR on page 687;
thence South 89°55'02" West 529.28 feet to the True Point of Beginning.
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0060745197
RIDER TO DEED OF TRUST/MORTGAGE/SECURITY DEED
Date:
5/04/2007
The escrow of taxes and insurance required in Paragraph 2 of your DEED OF
TRUST/MORTGAGE/SECURITY DEED to
FIRST HORIZON HOME LOAN CORPORATION
is hereby waived and you are notified that you are not required to deposit with
F%RST HOR%ZON HOKE LOAN CORPORATION
any of the amounts set forth in said paragraph, provided:
(a) Escrows for future taxes and insurance premiums are being collected and maintaJned by
the holder Or $ervicer of the mortgage loan superior to our lien; Or
(b) If you pay your own taxes and insurance premiums, you fulfill your obligation to keep
taxes and insurance premiums current with respect to the property secured hereby.
This waiver does not, in any way, release you from your obligation to make escrow payments of taxes
and insurance to the holder of any prior mortgage, nor does it relieve you of your obligation to keep
ta.xß$ and in$urancopremium.s current with respect to the secured property,
All payments will be applied first to the accrued interest and next to the unpaid principal of YOW' loan.
The e1>Act amount of your final payment, fmance charge, and tota] of payments will be somewhat more
or less than the amounts shown if we do not receive each payment on the scheduled payment date,
RECEIPT ACKNOWLEDGED:
JJ1:~ ¡;1~r"
2nd Rider CB6D082 Revised 8/01
/
d~~~;G;L}:.ï
MORTGAGE ADDENDUM
The following is an Addendum to the Mortgage. The addendum shall be
incorporated into, and recorded with, the Mortgage,
TAX EXEMPT FINANCING RIDER
This Tax-Exempt Financing Rider is incorporated into and shall be deemed to
amend the terms of the Mortgage to which it is attached.
In addition to the covenants and agreements made in the Security instrument,
Borrower ~d Lender further covenant and agree as follows:
Lender, or such of its successors or assigns as may, by separate instrument,
assume responsibility for assuring compliance by the Borrower with the
provisions of this Tax Exempt Financing Rider, may require immediate
payment in full of all sums secured by this Security Instrument if:
a) All of part of the Property sold or otherwise transferred (other than
by devi$e, 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 Intemal Revenue Code as amended, in effect on the date
of execution of the Security Instrument and are deemed to include the
implementing regulations.
BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions
in this Tax-Exempt Financing Rider.
a~V' /?~
~rrower
Borrower
MPP 210-6 (Revised 12(95)
000531
MAY-07-2007 15:38
First Horizon
307 734 7891
1'.06
~ FIRST
L~ HORIZON.
HOME LOANS
O~2924Sì
000532
Record and Return 0 by Mail D by Pickup to:
FHHLC Post Closing Mail Room
1555 West Walnut Hill Lane. #200MC
Irving. Texas 75038
MANUFACTURED HOME RIDER TO SECURITY INSTRUMENT
T11is Rider is made this S . and is incorporated into and amends and supplements the
Mortgage. Open-End Mort ag , Deed of Trust. or Credit Line Deed of Trust. Security Deed ("Security
Instrument") of the same date given by the undersigned ("Borrower") to secure Borrower's Note to
First Horizon Home Loan Corporation ("Lender")
of the same date "Note") and covering the Property described i the Security Instrument and located at
(j) g'i3CJ() /
Borrower and Lender agree that the Security Instrument is amended and supplemented to read as follows:
1. Meaning of Some Words. As used in this Rider, the term "Loan Oocuments" means the Note.
the Security Instrument and any Construction Loan Agreement, and the term "Property", as that
term is defined in the Security Instrument, includes the "Manufactured Home" described in
paragraph 3 of this Rider. All terms defined in the Note or the Security Instrument shall have the
same meaning in this Rider.
2, Purpose and Effect of Rider, IF THERE IS A CONFLICT BETWEEN THE PROVISIONS [N
THIS RIDER AND THOSE [N THE SECURITY fNSTRUMENT, THE PROVISIONS fN THIS
RIDER SHALL CONTROL. THE CONFLICTING PROVISIONS IN TBE SECURITY
INSTRUMENT WILL BE ELIMINATED OR MODIFIED AS MUCH AS IS NECESSARY TO
MAKE ALL OF THE CONFLlCTfNO TERMS AGREE WITH THIS RIDER.
3. Lender's Security Interest. All of Borrower's obligations secured by the Security Instrument
also shall be secured by the Manufactured Home:
2{p·3
4, Affixation,
(a) to affix the Manufactured Hom~ to a pènnanent foundation on the Property;
(b) to cOlnply with all Applicable Law regarding the affixation of the Manufactured HOme to
the Property;
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MAY-07-2007 15:38
First Horizon
307 734 7891
P.07
Q~)2324S
000533
(c) upon Lender's request, to surrender the certificate of title to the Manufactured Home, if
surrender is permitted by Applicable Law, and to obtain the requisite governmental
approval and documentation necessary to classify the Manufactured Home as real
property under Appl ¡cable Law;
(d) that affixing the Manufactured Home to the Property does not violate any zoning laws or
other local requirements applicable to the Property;
(e) that the Manufactured Home will be, at all times and for all purposes, permanently
affixed to and part of the Property.
5, Charges; Liens, Section 4, Paragraph I of the Security Instrument is amended to add a new third
sentence to read:
Borrower shall promptly furnish to Lender all notices of amounts to be paid under this
paragraph and receipts evidencing the payments.
6. Property Insurance Section 5, Paragraph I ofthe Security Instrument is amended to add a new
second sentence to read:
Whenever the Manufactured Home is transported on the highway, Borrower must have
trip insumnce.
7. Notices. The second sentence of Section 15 ofthe Security Instrument is amended by inserting
the words "unless otherwise required by law" at the end.
8, Additional Events of Default.
(a) If any structure on the Property, including the Manufactured Home, shall be removed,
demolished, or substantìally altered;
(b) if Borrower fails to comply with any requirement of Applicable Law (Lender, however,
may comply and add the expense to the principal balance Borrower owes to Lender); or
(c) if Borrower grants or permits any lien on the Property other than Lender's lien. or liens
for taxes and assessments that are not yet due and payable.
9, Notice of Default. If required by Applicable Law. before using a remedy, Lender will send
Borrower any notice required by law, and wait for any cure period that the law may require for
that remedy.
10. Additional Rights of Lender in Event of Foreclosure and Sale. In addition to those rights granted
in the Note and Security Instrument, Lender shall have the following rights in the event Lender
commenCes proceedings for the foreclosure and sale of the Property,
(a) At Lender's option, to the extent permitted by Applicable Law, Lender may elect to treat
the Ma.nufactured Home as personal property ("Personal Property Collateral"), Lender
may repossess peacefully from the place where the Personal Property Collateral is located
",,¡,hQ,.t Borrower's permission. Lender al,¡,o may r..c¡ulr,=, 90rrow,=,r to make the Personal
Property Collateral available to Lender at a place Lender designates that is reasonably
convenient to Lender and Borrower. At Lender's option, to the extent permitted by
Applicable Law, Lender may detach and remove Personal Property Collatenal from the
Property, or Lender may take possession of it and leave it on the Property. Borrower
agrees to cooperate with Lender if Lender exercises these rights.
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MAY-07-2uU1 16:38
a~292~~S;
First Horizon
307 734 78&1
r.08
000534
(b) After Lender repossesses, Lender may sell the Personal Property Collateral and apply the
sale proceeds to Lender's reasonable repossession, repair, storage, and sale expenses, and
then toward any other amounts Borrower owes under the Loan Documents.
(c) In the event of any foreclosure sale, whether mnde by Trustee, or under judgment of a
court, all of the real and Personal Property Collateral may, at the option of Lender, be
sold as a whole Or in parcels. It shall not be necessary to have present at the place of such
sale the Personal Property Collateral or any part thereof. Lender as well as Trustee on
lender's behalf, shall have all the rights, remedies and recourse with respect to the
Personal Property Collateral afforded to å "Secured Party" by Applicable Law in addition
to, and not in limitation of, the other rights and recourse afforded Lender and/or Trustee
under the Security Instrument.
By signing below, Borrower accepts and agrees to the terms and covenants contained in this RIder
tZt,~
,Bfurower
~~~
Borrower
STATE OF
Wyoming
)
COUNTY OF
~
~
) ss.;
)
On the 'f~ day of 7rJ~ in the year ;;007
Before me, the undersigned, a Notary Public In and for said State, personally appeared
, personally known to me 01' proved to me on the basis of satisfactory evidence to be the individual(s)
whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they
execuied the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument.
the individual(s), or the person on behalf of which the individual(s) acted. executed the instrument.
N~~h!~
G¿OR/~ /01, ÆYE/(S
Notary Printed Name
Notary Public; State of
Qualified in the County of
My commission expires:
Official Seal:
~~
2 - /~ - (j 7
GLORIA K. BYERS· NOTARY PUBLIC
County of State of
Lincoln Wyoming
My CommIssIon Expires Sept. 15, 2007
Drafted By:
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