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Home My WebLink About940013 PREPARED BY: JENNIFER FITZGERALD OPTION ONE MORTGAGE CORPORATION 6501 IRVINE CENTER DRIVE IRVINE, CALIFORNIA 92618 When recorded mail to: Equity Loan Services, Inc. Loss Mitigation Title Services- LMTS 1100 Superior Ave., Ste 20ú L\-I(Q 019f Cleveland, OH 44114 Attn: National Recordings 1120 ~PG1 RECEIVED 6/23/2008 at 2:26 PM RECEIVING # 940013 BOOK: 698 PAGE: 174 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY Ü00174 [Space Above This Line for Recording Data] Original Recorded Date: NOVEMBER 3, 2005 Fannie Mae Loan No. 301003325 Original Principal Amount: $ 127,200.00 Loan No, 0019501402 LOAN MODIFICATION AGREEMENT (Providing for Step Interest Rate) This Loan Modification Agreement ("Agreement"), made this 29TH day of APRIL, 2008 between GREG HORROCKS AND LACY C. HORROCKS, HUSBAND AND WIFE AS TENANTS BY THE ENTIRETIES ("Borrower") and OPTION ONE MORTGAGE CORPORATION ("Lender"), amends and supplements (1) the Mortgage, Deed of Trust or Security Deed (the "Security Instrument"), and Timely Payment Rewards Rider, if any, dated OCTOBER 24,2005 and recorded in Book or Libor 603, at page(s) 619 ,of the Official Records of (Name of Records) LINCOLN COUNTY, WYOMING , and (2) the Note bearing the same date as, and (County and State, or other jurisdiction) secured by, the Security Instrument, which covers the real and personal property described in the Security Instrument and defined therein as the "Property", located at 298 E 5TH AVE, AFTON, WYOMING 83110 (Property Address) LOAN MODIFICATION AGREEMENT - Single Family - Fannie Mae Uniform Instrument Form 3162 6/06 (page 1 of5) Modified by First American Loan Production Services WYOMING First American Real Estate Solutions LLC F ALPS# WYFM3162 Rev. 04-16-08 0019501402 the real property described being set forth as follows: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF; ÜOO~75 In consideration of the mutual promises and agreements exchanged, the parties hereto agree as follows (notwithstanding anything to the contrary contained in the Note or Security Instrument): 1. As of MAY 31, 2008 , the amount payable under the Note and the Security Instrument (the "Unpaid Principal Balance") is U.S. $ 130,397.93 consisting ofthe unpaid amount(s) loaned to Borrower by Lender plus any interest and other amounts capitalized. 2. Borrower promises to pay the Unpaid Principal Balance, plus interest, to the order of Lender. Interest will be charged on the Unpaid Principal Balance for the first year at the yearly rate of 5.000000 % from MAY 31, 2008 , and Borrower promises to pay monthly payments of principal and interest in the amount of$ 728,92 beginning on the 1ST day of JULY, 2008 . During the second year, interest will be charged at the yearly rate of 5.100000 % from JUNE 1,2009 , and Borrower shall pay monthly payments of principal and interest in the amount of $ 736.51 beginning on the 1ST day of JULY, 2009 . During the third year, interest will be charged at the yearly rate of 6.500000 % from JUNE 1,2010 , and Borrower shall pay monthly payments of principal and interest in the amount of $ 843.60 beginning on the 1ST day of JULY, 2010 . During the fourth year and continuing thereafter until the Maturity Date (as hereinafter defined), interest will be charged at the yearly rate of 8.500000 %, from JUNE 1,2011 , and Borrower shall pay monthly payments of principal and interest in the amount of $ 1,003.44 beginning on the 1ST day of JULY, 2011 and shall continue the monthly payments thereafter on the same day of each succeeding month until principal and interest are paid in full. If on NOVEMBER 01, 2035 , (the "Maturity Date"), Borrower still owes amounts under the Note and Security Instrument, as amended by this Agreement, Borrower will pay these amounts in full on the Maturity Date. 3. If all or any part of the Property or any interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by the Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of accelèration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by the Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by the Security Instrument without further notice or demand on Borrower. LOAN MODIFICATION AGREEMENT - Single Family - Fannie Mae Uniform Instrument Modified by First American Loan Production Services First American Real Estate Solutions LLC FALPS# WYFM3l62-2.4 Rev. 04-24-08 Form 3162 6/06 (page 2 of5) WYOMING Ü00:176 0019501402 4. Borrower also will comply with all other covenants, agreements, and requirements of the Security Instrument, including without limitation, Borrower's covenants and agreements to make all payments of taxes, insurance premiums, assessments, escrow items, impounds, and all other payments that Borrower is obligated to make under the Security Instrument; however, the following terms and provisions are forever canceled, null and void, as of the date specified in paragraph No. I above: (a) all terms and provisions of the Note and Security Instrument (if any) providing for, implementing, or relating to, any change or adjustment in the rate of interest payable under the Note, including, where applicable, the Timely Payment Rewards rate reduction, as described in paragraph I ofthe Timely Payment Rewards Addendum to Note and paragraph A.I. of the Timely Payment Rewards Rider. By executing this Agreement, Borrower waives any Timely Payment Rewards rate reduction to which Borrower may have otherwise been entitled; and (b) all terms and provisions of any adjustable rate rider or Timely Payment Rewards Rider, where applicable, or other instrument or document that is affixed to, wholly or partially incorporated into, or is part of, the Note or Security Instrument and that contains any such terms and provisions as those referred to in (a) above. 5. Borrower understands and agrees that: (a) All the rights and remedies, stipulations, and conditions contained in the Security Instrument relating to default in the making of payments under the Security Instrument shall also apply to default in the making of the modified payments hereunder. (b) All covenants, agreements, stipulations, and conditions in the Note and Security Instrument shall be and remain in full force and effect, except as herein modified, and none of the Borrower's obligations òr liabilities under the Note and Security Instrument shall be diminished or released by any provisions hereof, nor shall this Agreement in any way impair, diminish, or affect any of Lender's rights under or remedies on the Note and Security Instrument, whether such rights or remedies arise thereunder or by operation of law. Also, all rights of recourse to which Lender is presently entitled against any property or any other persons in any way obligated for, or liable on, the Note and Security Instrument are expressly reserved by Lender. (c) Borrower has no right of set-off or counterclaim, or any defense to the obligations of the Note or Security Instrument. (d) Nothing in this Agreement shall be understood or construed to be a satisfaction or release in whole or in part of the Note and Security Instrument. (e) All costs and expenses incurred by Lender in connection with this Agreement, including recording fees, title examination, and attorney's fees, shall be paid by the Borrower and ,shall be secured by the Security Instrument, unless stipulated otherwise by Lender. (f) Borrower agrees to make and execute such other documents or papers as may be necessary or required to effectuate the terms and conditions of this Agreement which, if approved and accepted by Lender, shall bind and inure to the heirs, executors, administrators, and assigns of the Borrower. LOAN MODIFICATION AGREEMENT - Single Family· Fannie Mae Uniform Instrument Modified by First American Loan Production Services First American Real Estate Solutions LLC FALPS# WYFM3162-3 Rev. 04·16-08 Form 3162 6/06 (page3 015) WYOMING 0019501402 0001.77 OPTION ONE MORTGAGE CORPORATION Name; . (Seal) - Lender I,,: ASSIST A7CRET 0<!Ø\æ;wcM W"'~O . OCKS <~~/~~/ LA C. HO~CK . V Jeromy Y Assistant Secretary (Seal) - Borrower (Seal) - Borrower (Seal) - Borrower (Seal) - Borrower (Seal) - Borrower (Seal) - Borrower LOAN MODIFICATION AGREEMENT - Single Family - Fannie Mae Uniform Instrument Modified by First American Loan Production Services First American Real Estate Solutions LLC FALPS# WYFM3162-4 Rev. 04-16-08 Form 3162 6/06 (page 4 of5) WYOMING Ü00:178 STATE OF [Space Below This Line for Acknowledgments] 0019501402 COUNTY OF L/J.1 ( 0 I P'Î . - JJ...C/ô ROXIE JENKINS COUNTY OF LINCOLN MY COMMISSION EXPIRES APRIL 4. 2010 by aking Acknowledgme t NOTARY PUBL C STATE OF WYOMING Printed Name Title or Rank ¿; Ve/? 1'/1'1 S oM (' -er Serial Number, if any LENDER ACKNOWLEDGMENT STATE OF (Q/,:(6I';¡~f}; COUNTY OF OI'I!1'1.Cjf¿ The foregoin&..l¡!.strument was acknowl~dgeçl before me this MAY 2 1 2008 by ~-c...('O rt"''( Ccrb I ,tV , the ASSISTANT SECRETARY of qpf/on On~ 41or1-j¿¡'...... on behalf of said entity. Signature of Person Taking Acknowledgment C":' V· ~ Printed Name ]JAV I.Y V· J-( AM, ft·"¡' i=.- TitleorRank~~" t>U?ll6 Serial Number, if any LOAN MODIFICATION AGREEMENT· Single Family - Fannie Mae Uniform Instrument Modified by First American Loan Production Services First American Real Estate Solutions LLC FALPS# WYFM3162·5 Rev. 04·16-08 Form 3162 6/06 (page 50f5) WYOMING EXHIBIT A ÜOO~79 BORROWER(S): GREG HORROCKS AND LACY C. HORROCKS LOAN NUMBER: 0019501402 LEGAL DESCRIPTION: ALSO KNOWN AS: 298 E 5TH AVE, AFTON, WYOMING 83110 FAND# EXHIBIT.A Rev. 07-03-07 t2·00j.80 Part of Lot 1 of Block 27 of the Afton Townsite, Lincoln County, Wyoming" more particularly described as follows: Beginning 247~25 feet Èast of the No+thwest corner of said Lot 1 and running thence East 82.75 feet; thence South 65.75 feet; thence West 82.75 feet; thence North 65.75 feet to the point of beginning. \\1\ II \11\\ \1111\\\ III HORROCKS 37903121 FIRST AMERICAN ElS MODIFICATION AGREEMENT II I \ II \1111 \II \\111 \ 1\ 11111 \ 1\\\ I III \ 11\\ \ II I II \ I \1\11 I III WY