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HomeMy WebLinkAbout937273 &/&'1-8 -J)F"" "ItkMMI Iä.nd lìtle ~C9mpðny SINCE 1904 This Document Prepared By: FINANCIAL FREEDOM SENIOR FUNDING CORPORATION, A SUBSIDIARY OF INDYMAC BANK, F.S.B. 1660 EAST ROSEVILLE PARKWAY, STE 100 ROSEVILLE, CALIFORNIA 95661 When Recorded Mail To: FINANCIAL FREEDOM SENIOR FUNDING CORPORATION, A SUBSIDIARY OF INDYMAC BANK, F.S.B. 500 NORTH RIDGE ROAD STE. 500 ATLANTA, GEORGIA 30350 RECEIVED 2/29/2008 at 1 :29 PM RECEIVING # 937273 BOOK: 688 PAGE: 253 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ûOð253 [Space Above This Line for Recording Data] LOAN NO: 3000130940 WYOMING MORTGAGE THIS MORTGAGE SECURES AN OPEN-ENDED (REVOLVING) LINE OF CREDIT WHICH PROVIDES FOR PAYMENTS, FUTURE ADVANCES AND A VARIABLE RATE OF INTEREST AS SET FORTH IN A CASH ACCOUNT ADVANTAGE ADJUSTABLE RATE REVERSE MORTGAGE LOAN ACCOUNT DISCLOSURE STATEMENT AND AGREEMENT DATED THE SAME DATE AS THIS MORTGAGE ("AGREEMENT"). THE PROVISIONS OF THE AGREEMENT ARE INCORPORATED HEREIN BY THIS REFERENCE. THIS MORTGAGE ("Security Instrument") is made on FEBRUARY 25, 2008 . The Borrower is JAMES A. TURLEY, A SINGLE MAN ., I cP '.......'" ' 1 ("Borrower") (unless the context indicates otherwise, the terms "Borrower", "I", "we", "us", "me", "my", "mine" and "our" refer collectively to all Borrowers under this Security Instrument). The Lender is FINANCIAL FREEDOM SENIOR FUNDING CORPORATION, A SUBSIDIARY OF INDYMAC BANK, F.S.B. A DELAWARE CORPORATION whose office address is 1660 EAST ROSEVILLE PARKWAY, STE 100, ROSEVILLE, CALIFORNIA 95661 ("Lender") (unless the context indicates otherwise, the terms "Lender", "you" and "your" refer to FINANCIAL FREEDOM SENIOR FUNDING CORPORATION, A SUBSIDIARY OF INDY MAC BANK, F.S.B. ), "Loan" and "Account" refer to the loan evidenced by the Agreement. Borrower owes Lender a maximum principal sum of SIX HUNDRED THIRTY THOUSAND AND 00/100 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- -------------------------------------------------------------------------------- (U.S. $ 630,000.00), plus all interest and other amounts due as set forth below. This debt is evidenced by the Agreement, which provides for a single payment due and payable in the ordinary course, upon the earliest to occur of any of the Maturity Events as set forth more fully in Section 6 of the Page 1 of 12 38SH : 06/01 1111111111111111 II * F F 8 0 0 06* ùOù254 3000130940 Agreement, which are as follows: (a) the sale, conveyance, transfer or assignment of any part of the Property, as defined below, or any of Borrower's rights in the Property, whether voluntarily or involuntarily, by operation of law or otherwise, to a person other than any of the original Borrowers, without Lender's prior written consent, (b) the Borrower's death or, if there is more than one Borrower, the death of the last living Borrower; and (c) all Borrowers ceasing to use the Property as their principal residence. This Security Instrument secures to you (a) repayment of the debt evidenced by the Agreement, including principal (which includes the Initial Advance (as referred to in the Agreement) and all future Advances made after the date of this Security Instrument), all interest thereon, a charge upon repayment of the Loan, if applicable, all other amounts and charges set forth in the Agreement or this Security Instrument and all renewals, replacements, extensions and modifications of the Agreement and this Security Instrument; (b) the payment of all other amounts, with interest, advanced under the Agreement or Section 6 of this Security Instrument to protect the security of this Security Instrument; and (c) the performance of my obligations and agreements under this Security Instrument and the Agreement. For this purpose, I hereby mortgage, grant and convey to Lender, and Lender's successors and assigns, with power of sale, the following described property located in LINCOLN County, Wyoming: [See Exhibit "A" attached hereto.] which has the address of 291 COUNTY ROAD 109 ETNA, WYOMING 83118 ("Property Address"); TOGETHER WITH all the improvements now or in the future erected on such property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures which are now or in the future become a part of said property. All replacements and additions shall also be covered by this Security Instrument. All, of the property described above and in Exhibit "A" is referred to in this Security Instrument as the "Property". I COVENANT that I am lawfully seised of the estate hereby conveyed and I have the right to mortgage, grant and convey the Property and that the Property in unencumbered, except for encumbrances of record. I warrant and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. I HEREBY WARRANT that all of the statements and representations I have made in the Agreement with respect to the Property are true and correct. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest and Fees. I will promptly pay, or cause to be paid, to Lender when due the principal of the debt evidenced by the Agreement (the "Principal Amount"), all interest thereon, and all fees, charges and other amounts due under the Agreement or this Security Instrument. 2. Charges; Liens. I will pay prior to delinquency all taxes, assessments, charges, fines and impositions attributable to the Property, and I will pay these obligations directly to the person or entity owed payment. I will, upon your request, promptly furnish to you all notices of amounts to be paid under this Section and all receipts evidencing those payments. Page2of12 39SH : 10/06 111111111111111111 * F F 8 0 0 0 6 * vOi)255 3000130940 I will promptly discharge any lien on the Property which may attain priority over this Security Instrument (other than as listed in the title insurance policy ("Title Policy") issued to you and insuring this Security Instrument) unless I (a) agree in writing to pay the obligation secured by the lien in a manner acceptable to you; (b) contest in good faith the lien by, or defend against enforcement of the lien in, legal proceedings which in your opinion operate to prevent enforcement of the lien or forfeiture of any part of the Property; or (c) secure from the holder of the lien an agreement satisfactory to you subordinating the lien to this Security Instrument. If you determine that any part of the Property is subject to a lien, you may immediately cease making any further Advances, and give me a notice identifying the lien. I will satisfy the lien or take one or more of the actions set forth above within ten (10) days of your giving me this notice, 3. Hazard Insurance. I will keep the improvements now existing or erected in the future on the Property insured against loss by fire, hazards included within the terms "extended coverage" and "a1l risk", and any other hazards, including floods or flooding, for which you require insurance, through an insurance company and on terms satisfactory to you, and which provides you with at least ten (10) days prior written notice before any change or cancellation can be made. I understand that all insurance policies and renewals must be acceptable to you and include a standard mortgagee clause in your favor. You have the right to hold the policies and renewals. If you require, I will promptly give you a1l receipts for paid premiums and renewal notices. In the event of loss, I will give prompt notice to the insurance carrier and to you. You may submit proof of loss if I do not do so promptly. I hereby authorize you to contact the insurance carrier to verify the coverage and to ensure that you are named as loss payee under a standard mortgagee clause. In the event that you are not so named, I authorize you to instruct the insurance carrier to so name you. If I do not provide you with evidence of insurance satisfactory to you upon your request you may, but are not obligated to, in accordance with Section 6, obtain such insurance on your own behalf or on my behalf, at your option, naming you as the insured or otherwise, at your sole option. I acknowledge that insurance you obtain in this way may provide less protection to me and may be more expensive than insurance I could obtain. Unless you and I agree differently in writing, insurance proceeds will be applied to restore or repair the damaged Property, if (a) the restoration or repair is economically feasible within a reasonable period of time; (b) I am willing and able to repair or restore the Property as necessary within a reasonable period of time; and (c) the value of your security would not be lessened. If the foregoing requirements are not a1l met you may, at your option, use the insurance proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not they are then due, with any excess paid to me. If I abandon the Property or do not answer within 30 days a notice from you that the insurance carrier has offered to settle a claim, you may co1lect the insurance proceeds and use them to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not they are then due. The thirty-day period will begin when the notice is given. If under this Security Instrument you acquire the Property, my right to any insurance policies and proceeds resulting from damage to the Property before you acquire it will pass to you to the extent of the amounts secured by this Security Instrument immediately prior to the acquisition. 4. Preservation and Maintenance of Property. I will at my expense keep the Property in at least the same condition as it exists on the later of the date of the Security Instrument or the date upon which all repairs, if any, funded by you from the Initial Advance made under the Agreement are completed. I will not remove or demolish any building on the Property, and I will repair and restore promptly and in good and workmanlike manner any building which may be damaged or destroyed thereon and will pay, when due, all claims for labor performed and materials furnished therefore. I will comply with a1l laws affecting the Property or requiring any alterations or improvements to be made Pagd of 12 40SH : 10106 1111111111111111 II * F F 8 0 0 06* ùO\)256 3000130940 thereon. I will not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property, nor will I commit, suffer or permit any act upon the Property in violation of law or any required insurance policy relating to the Property. I will cultivate, irrigate, fertilize, fumigate, prune and do·all other acts, which from the character or use of the Property may be reasonably necessary to maintain its condition as required by the Agreement and this Security Instrument. I understand that I wiII be in default under this Security Instrument if any forfeiture action or proceeding, whether civil or criminal, is begun that in your good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or your security interest. You may immediately cease, making any further Advances upon the commencement of any such forfeiture action or proceeding, and give me a notice identifying the proceeding. I may cure this default and reinstate, as provided in Section 14, by causing the action or proceeding to be dismissed with a ruling that, in your good faith determination, precludes forfeiture of my interest in the Property or other material impairment of the lien created by this Security Instrument or your security interest. I understand that I wiII also be in default if I give materially false or inaccurate information or statements to you (or failed to provide you with any material information) in connection with the Agreement, including, but not limited to, representations concerning my occupancy of the Property as a principal residence. 5. Hazardous Substances. I will not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on, in, or from the Property. The preceding sentence does not apply to presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses, as distinct from commercial uses, and to maintenance of the Property. I will not do, nor allow anyone else to do, nor am I aware of, anything affecting the Property that is in violation of any Environmental Law. I will promptly give you 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 I have actual knowledge. If I learn, or am notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, I wiII promptly take all necessary remedial actions in accordance with Environmental Law. As used in this Section and in the Agreement, "Hazardous Substances" means hazardous wastes, hazardous substances, toxic substances, hazardous air pollutants, pesticides, contaminants or other pollutants as those terms are used in any Environmental Law, and the following substances: gasoline, diesel fuel, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, lead paint, and radioactive materials. As used in this Section and in the Agreement, "Environmental Law" means federal laws and regulations and laws and regulations of each of the other jurisdictions in which the Property is located that relate to health, safety or environmental protection, including laws regulating the handling, use, storage, disposal or transportation of Hazardous Substances. 6. Protection of Lender's Rights in Property. 6.1 If [ fail to perform any of my material obligations contained in the Agreement or any of my obligations set forth in this Security Instrument, or if legal proceedings are commenced that may significantly affect your rights in the Property (such as proceedings in bankruptcy, probate, for condemnation or to enforce laws or regulations), then you may, but are not obligated to, do or pay for whatever is necessary to protect the value of the Property and your rights in the Property. This may include, for example, paying the cost of maintaining the Property during my absence; paying all taxes, assessments, charges, fines and impositions attributable to the Property; discharging liens, appearing in court and paying reasonable attorneys' fees; paying insurance Page 4 of 12 41SH: 10106 1111111111111111 II * F F 8 o o o 6 * ùO\)257 3000130940 premiums or paying the cost of repair or to prevent deterioration or waste to the Property; all as provided in the Agreement or in this Security Instrument. Any payments you make will not create an obligation on your part to make any further payment. 6.2 If you do make such payments, you may at your option add any amounts paid to the balance of my Account owed under the Agreement and reduce my Advance Limit by an equal amount. Any amounts so paid and added to the balance of my Account will be secured by this Security Instrument and have priority as if made on the date of this Security Instrument. These amounts will bear interest from the date of disbursement at the interest rate provided under the Agreement and will be payable at the same time as other debt is payable under the Agreement or this Security Instrument. 7. Inspection. I will permit you or your representative to visit and walk through the Property on reasonable prior notice (at least 24 hours). 8. Condemnation of the Property. I hereby assign to you 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 lieu of condemnation, and the same are to be paid to you. In the event of a total taking of the Property or a conveyance in lieu of condemnation, the proceeds will be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to me. If the Property is partially taken and the fair market value of the Property (as determined pursuant to Section 8a below) immediately before the taking is equal to or greater than the sums secured by this Security Instrument immediately before the taking, unless you and I otherwise agree in writing, the sums this Security Instrument secures will be reduced by applying thereto a portion of the proceeds equal to the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking as so determined. Any balance will be paid to me. Ifthe Property is partially taken and the fair market value of the Property (as determined pursuant to Section 8a below) immediately before the taking is less than the amounts secured immediately before the taking, unless you and I agree otherwise in writing or unless applicable law otherwise provides, the proceeds will be applied to the sums secured by this Security Instrument, whether or not they are then due. If! abandon the Property or if, after you notify me that the condemnor has offered to make an award or settle a claim for damages, I fail to respond to you within thirty (30) days after the date the notice is given, you are authorized to collect and apply the proceeds, at your option, either to restore or repair the Property or to the amounts secured by this Security Instrument, whether or not they are then due. a. In the event of a partial taking, the Property's fair market value shall be determined by one or two real estate appraisers certified either as a Senior Residential Appraiser of the Society of Real Estate Appraisers or a Residential Member of the American Institute of Real Estate Appraisers in accordance with the following procedure. Lender shall select an appraiser who will determine the fair market value of the Property as of the Maturity Event in accordance with the general practice of the Society of Real Estate Appraisers or the American Institute of Real Estate Appraisers, as the case may be, and provide a written appraisal reflecting this determination to Lender (the "Lender Appraisal"). Lender shall submit to me a copy of the Lender Appraisal along with notice of my right to dispute the appraiser's determination of the fair market value ofthe Property which will include a list of no less than three (3) additional appraisers approved by Lender ("Notice of Right to Object"). The determination offair market value of the Property reflected in the Lender Appraisal shall be conclusive unless I provide to Lender a Notice of Objection & Selection of Appraiser, as defined below, within fourteen (14) calendar days of the date Lender sends me the Lender Appraisal and Notice of Right to Object. PageS of 12 42SH: 10/06 1111111111111111 II .. F F 8 o o o 6 .. ùO\)258 3000130940 IfI wish to contest the fair market value determination reflected in the Lender Appraisal, I will provide Lender both (i) a written statement of my objection to the Lender Appraisal, and (ii) my written selection of one of the appraisers approved by Lender and listed in the Notice of Right to Object (coHectively referred to herein as the "Notice of Objection & Selection of Appraiser"). If my Notice of Objection & Selection of Appraiser does not clearly state my selection of an appraiser listed in the Notice of Right to Object, you may elect to select an appraiser from such list. If the appraiser I select or you select is unable to complete the appraisal of the Property, a replacement appraiser shaH be selected by you from the list of approved appraisers in the Notice of Right to Object. The appraiser selected shall independently detennine the fair market value of the Property as of the Maturity Event in accordance with the general practice of the Society of Real Estate Appraisers or the American Institute of Real Estate Appraisers, as the case may be. The appraiser shaH promptly submit the written appraisal of the fair market value of the Property to Lender. Lender shaH average the two appraisals and this average shall be the fair market value of the Property as of the Maturity Event. Lender shaH provide me a copy of the second appraisal and notice of its calculation of the average of the two appraisals. The appraisal procedure of determining the fair market value of the Property set forth above is referred to in this Addendum as the "Standard Appraisal Method" and shaH be used whenever an appraisal is necessary to detennine the amount I owe you under the Agreement. I agree that the determination of the Property's fair market value pursuant to the Standard Appraisal Procedure will be fair and shaH be final and binding on me. I shaH pay aH costs associated with any appraisal of the Property pursuant to the Standard Appraisal Method and shaH reimburse you for any amounts you spend in connection with such an appraisal, except to the extent prohibited by law. Amounts you spend shall become additional indebtedness under the Agreement and shall be secured by the Security Instrument, shall be deemed an Advance and shall be due and payable by me upon your demand. 9. Borrower Not Released; Forbearance by Lender Not a Waiver. I understand that any extension of the time for payment of the amounts secured by this Security Instrument which you grant to me or to any of my successors in interest will not operate to release my liability or that of my successors in interest. You will not be required to start proceedings against any successor in interest or refuse to extend time for payment of the amounts secured by this Security Instrument by reason of any demand made by me or any of my successors in interest. Any forbearance by you in exercising any of your rights or remedies will not constitute a waiver, or preclude the exercise, of any of your other rights or remedies. 10. Successors and Assigns Bound; Joint and Several Liability. The warranties and agreements of this Security Instrument and the Agreement shaH bind and benefit you and your successors and assigns, and me and my executors, administrators, heirs, successors and assigns. Borrower's warranties and agreements are and will be joint and several. Anyone who co-signs this Security Instrument as a Borrower but does not execute the Agreement (i) is co-signing this Security Instrument only to mortgage, grant, warrant and convey that Borrower's interest in the Property under the tenns of this Security Instrument; (ii) is not personaHy obligated to pay the amounts secured by this Security Instrument; and (iii) agrees that Lender and any other Borrower may agree, subject to applicable law, to extend, modify, forbear or make any accommodations with regard to the tenns of this Security Instrument or the Agreement without that Borrower's consent. Page 6 of 12 43SH: 10/06 1111111111111111 II * F F 8 0 0 06* û00259 3000130940 11. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law 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 sums already collected from me which exceeded permitted limits will be refunded to me by reducing the principal owed under the Note. 12. Notices. Any notice to me described in the Agreement or in this Security Instrument will be given by private delivery service or by mailing it by first class mail, postage prepaid, unless applicable law or the terms of this Security Instrument or the Agreement require using another method. The notice will be directed to the Property Address or any other address all Borrowers designate to you in writing. I understand that any notice to you must be given by private delivery service or by first class mail, postage prepaid, to your address stated in this Security Instrument or any other address you designate to me in writing, unless applicable law or the terms of this Security Instrument or the Agreement require using another method. Any notice given by private delivery service in this way will be considered to have been given when delivered, and any notice given by mail in this way will be considered to have been given five (5) business days after being deposited in the mail. 13. Governing Law; Severability. This Security Instrument will be governed by the laws of the state in which the Property is located (without regard to its rules pertaining to conflict oflaws) and by applicable federal law. 14. Borrower's Right to Reinstate. If, upon the occurrence of an Event of Default as described in Section 13 of the Agreement and, after demanding mandatory prepayment of the Loan, you seek enforcement of this Security Instrument by commencing foreclosure, whether pursuant to any power of sale contained in this Security Instrument or by filing an action in a court of law, if I meet certain conditions, I will have the right to have enforcement of this Security Instrument discontinued at any time before the earlier of (i) five (5) business days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (ii) entry of a judgment enforcing this Security Instrument. Those conditions are that I (a) pay you all amounts which then would be due under this Security Instrument and the Agreement had you not required mandatory prepayment; (b) cure any breach or default in the performance of any other warranty or agreement; (c) pay all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) take any action you may reasonably require to ensure that the lien of this Security Instrument, your rights in the Property and my obligation to pay the amounts secured by this Security Instrument continue unchanged. Upon my reinstatement, this Security Instrument and the obligations it secures will remain fully effective as if you had not required mandatory prepayment. Page 70112 44SH : 06/07 1111111111111111 II * F F 8 0 0 0 6 * iJOi)260 3000130940 15. Non-Recourse Liability. Lender may enforce the obligations under the Note, this Security Instrument and the Loan Agreement solely against the Property. I shall have no personal liability for payment of the amounts due under the Note, this Security Instrument and the Loan Agreement. This paragraph shall not impair in any way the lien of this Security Instrument or the right of Lender to collect all sums due under the Note, the Loan Agreement and this Security Instrument or prejudice the right of Lender as to any covenants or conditions of the Note, the Loan Agreement and this Security Instrument. 16. Obligatory Loan Advances. Lender's responsibility to make Loan Advances under the terms of the Loan Agreement, including Loan Advances of principal to me as well as Loan Advances for interest, servicing fees, and other charges, shall be obligatory. 17. Remedies Cumulative. All of your remedies under this Security Instrument are cumulative to any other right or remedy under this Security Instrument or the Agreement, or which is afforded by law or equity, and may be exercised concurrently, independently or successively. 18. Request for Notices. I request that a copy of any notice of default and a copy of any notice of sale thereunder be mailed to me at my address, which is the Property Address. 19. Loan Advances. This Security Instrument secures future advances. All advances and indebtedness arising and accruing from time to time under the Agreement or under this Security Instrument shall be secured by this Security Instrument. Advances shall be made and indebtedness shall be incurred from time to time on and after the date of this Security Instrument under the Agreement, but each such advance or indebtedness shall be secured by this Security Instrument and have priority as if made on the date ofthis Security Instrument. 20. Counterpart Execution. This Security Instrument may be executed by one or more of the parties hereto on any number of separate counterparts and all of said counterparts taken together shall be deemed to constitute one and the same document. One set of copies of this Security Instrument signed by all the parties shall be submitted for recordation. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 21. Events of Default; Mandatory Prepayment and Other Remedies. I understand that if an Event of Default occurs, as described in Section 13 of the Agreement (including but not limited to the sale, conveyance, transfer or assignment of all or any part of the Property, or any of my rights in the Property, whether voluntarily or involuntarily, by operation ofIaw or otherwise, to a person other than any of the original Borrowers, without your prior written consent), and is continuing, you may immediately stop making any further Advances, and that if I do not cure that default within Page 8 of12 45SH : 06/07 IIII " " " " "" " · F F 8 0 0 06· \)0\)261 3000130940 the period specified in the notice of Event of Default described in this Section, you may require mandatory prepayment of the Loan together with all other amounts owed under the Agreement and this Security Instrument. You will notify me, following the occurrence of an Event of Default, before requiring mandatory prepayment, specifying: (a) the Event of Default; (b) the action required to cure the Event of Default; (c) a date, not less than 30 days from the date the notice is given to me, by which the Event of Default must be cured; and (d) that failure to cure the Event of 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 shall further inform me of my right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a d~fault or any other defense I have to acceleration and sale. If the Event of Default is not cured on or before the date specified in the notice, you at your option 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 shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs oftitle evidence. 23. Sale Procedures. If you invoke the power of sale, you shall give notice of intent to foreclose to me and to the person in possession of the Property, if different, in accordance with Applicable Law. You shall give notice of the sale to me in the manner provided in Section 12. You shall publish the notice of sale, and the Property shall be sold in the manner prescribed by Applicable Law. You or your 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. 24. Release. Upon payment of all sums secured by this Security Instrument, you shall release this Security Instrument. I agree to pay any recordation costs. You may charge me a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 25. Waivers. I hereby release and waive all rights under and by virtue of the homestead exemption laws of Wyoming. 26. Riders to this Security Instrument. IfI execute one or more riders and they are recorded together with this Security Instrument, the warranties and agreements of each such rider shall be incorporated into and shall amend and supplement the warranties and agreements of this Security Instrument as if the rider(s) were part of this Security Instrument. [Check applicable box(es)]: Condominium Rider Planned Unit Development Rider 1-4 Family Rider Other: Page 9 of 12 46SH : 06/07 1111111111111111 II * F F 8 0 0 06* ,!/, vOiÞ262 3000130940 BY SIGNING BELOW, I hereby accept and agree to the tenns and agreements contained in this Security Instrument and in any rider(s) I execute and which are recorded with it. ~~y Œ ~UJL \ (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) - Borrower (Seal) -Borrower Page /00f/2 47SH : 01108 111111111111111111 * F F 8 0 0 06* v v V.cíi UU STATEOF tu?~~, COUNTY OF l.R'~ 3000130940 On J.(X/ð1 ,before me, J). f~:r}¡)1a:j ~A-.-r~ f ~ , personally appeared p"" 111111) knô#R t" 1m) (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in hislher/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalfofwhich the person(s) acted, executed the instrument. My commission expires on: /oft¡!JJJ II f , ...................................... : D. Fln.on. otary Public _ - - - - :: County of ' State of 5 : Uncaln Wyoming : : = = My Commission expires 10/11/2011 - ...................................... Page 11 of 12 48SH : 10/06 1111111111111111 II * F F 8 0 0 06* Legal description of Property: See legal description attached on exhibit" A". '~;~.~.\ \ Borrower's Initials Page 12 of 12 49SH : 10/06 Borrower's Initials Exhibit "A" ûOv264 3000130940 111111111111111111 * F F 8 0 006 * EXHIBIT "A" v0026S PARCEL 1: A portion of the South Half of the Southwest Quarter (S ~ SW 14) of Section 27, Township 36 North, Range 119 West of the 6th P.M., Lincoln County, Wyoming, being more particularly described as follows: BEGINNING at an Iron Pipe set at a point in the Center Line of Roberts-Wolfley County Road 12-109, said point being 175.49 feet, North 40°07'39" West, from the B.L.M. type monument found marking the CS SW l/64th corner of said Section 27 (as shown on the Plat No. 15-B filed in the Office of the Clerk of Lincoln County, Wyoming); Thence Northeasterly along said Center Line the following, along a 1128.89 foot radius curve to the Right (chord bears North 10°58'09" East, 303.41 feet) through a central angle of 15°26'46", an arc distance of 304.33 feet, to a Spike found marking PT Sta. 102+ 17.86; Thence North 18°41 '33" East, 124.19 feet, to a spike found marking PC Sta. 103+42.16; Thence along a 613.03 foot radius curve to the Left (chord bears North 14°34'13" East, 88.13 feet) through a central angle of 8°14'39", an arc distance of 88.21 feet, to a Spike found marking the Northwest corner of the Original Property (recorded in Book 347, on Page 562, as Receiving No. 780915); Thence South 89°23 '37" East, along the North line of said Original Property, 343.67 feet, to an Iron Pipe set; Thence South, 675.17 feet, to an Iron Pipe found; Thence West, 219.55 feet, to an Iron Pipe found; Thence North, 178.00 feet, to an Iron Pipe found; Thence West, 243.81 feet, to the Point of Beginning. PARCEL 2: TOGETHER WITH AND SUBJECT TO: A 30 foot wide Right-of-Way and Utility Easement along the South boundary of the above described Parcel, the Center Line being more particularly described as follows: BEGINNING at a point in the Center Line of said County Road 12-109, said point being 121.18 feet, South 68°48'09" West, from said B.L.M. type monument found marking the CS SW l/64th corner of Section 27; thence East, 463.24 feet, to the East boundary of the above described Parcel.