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Home My WebLink About940414 RECORD AND RETURN TO: FIRST AMERICAN TITLE P.O. BOX 27670 SANTA ANA, CA 92799-7670 A TTN: LMTS RECEIVED 7/9/2008 at 3:54 PM RECEIVING # 940414 BOOK: 699 PAGE: 562 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 000562 If.í" ;;c,¡ 'j :\\. L 3. ~ [Space Above This Line for Recording Data) Loan No. 0022284335 Fannie Mae Loan No. 321037291 LOAN MODIFICATION AGREEMENT (Providing for Fixed Interest Rate) Original Recorded Date: SEPTEMBER 19, 2006 This Loan Modification Agreement ("Agreement"), made this 27TH day of FEBRUARY, 2008 between JAIME PARRA AND NOEMI PARRA, HUSBAND AND WIFE ("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 SEPTEMBER 14,2006 and recorded in Book 634, Page 155 ,of the Official Records of [Name of Records] LINCOLN COUNTY, WYOMING and (2) the Note, bearing the same date as, [County and State, or other Jurisdiction] and 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 795 VISTA DR, THAYNE, WYOMING 83127 [Property Address] the real property described being set forth as follows: LOT 91 OF STAR VALLEY RANCH PLAT 9, LINCOLN COUNTY, STATE OF WYOMING, AS DESCRIBED ON THE OFFICIAL PLAT THEREOF LOAN MODIFICATION AGREEMENT - Single Family - Fannie Mae Uniform Instrument FAND# 3l79STEP Rev. 05-3]-06 Form 3179 1/01 (rev. 8/01) (page 1 oJ 5) L'00563 0022284335 In consideration of the mutual promises and agreements exchanged, the parties hereto agree as follows (notwithstanding anything to the contrary contained in the Note and Security Instrument): 1. As of MARCH 1,2008 , the amount payable under the Note and the Security Instrument (the "Unpaid Principal Balance") is U.S. $ 177,660.03 , consisting of the amount(s) loaned to Borrower by Lender and any interest capitalized to date. 2. The 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 6.500000 %, from MARCH 1, 2008 , and Borrower promises to pay in monthly payments of principal and interest, the amount of $ 1,141.25 beginning on APRIL 1, 2008 . During the second year of the loan term, interest will be charged at the yearly rate of 7.000000 % from MARCH 1,2009 , and Borrower shall pay monthly payments of principal and interest in the amount of $ 1,198.19 beginning on APRIL 1, 2009 . During the third year of the loan term, interest will be charged at the yearly rate of 7.500000 % from MARCH 1,2010 , and Borrower shall pay monthly payments of principal and interest in the amount of $ 1,254.99 beginning on APRIL 1, 2010 . During the fourth year of the loan term and continuing thereafter until the Maturity date (as hereinafter defined), interest will be charged at the yearly rate of 8.150000 %, from MARCH 1, 2011 , and Borrower shall pay monthly payments of principal and interest in the amount of$I,328.69 beginning on APRIL 1, 2011 and shall continue the monthly payments thereafter on the same day of each succeeding month until principal and interest are paid in full. By executing this Agreement, Borrower waives any Timely Payment Rewards rate reduction to which Borrower may be entitled. If on OCTOBER 01, 2036 , (the "Maturity Date"), the Borrower still owes amounts under the Note and the Security Instrument, as amended by this Agreement, Borrower will pay these amounts in full on the Maturity Date. Borrower will make such payments at 6501 IRVINE CENTER DRIVE IRVINE, CALIFORNIA 92618 or at such other place as Lender may require. 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 this Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 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. 1 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 1 of the Timely Payment Rewards Addendum to Note and LOAN MODlFICA nON AGREEMENT - Single Family - Fannie Mae Uniform Instrument Form 3179 1/01 (rev. 8/01) FAND#3179STEP-2.4 Rev. 03-17-04 (page2of4) 000564 0022284335 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. If the Borrower has, since inception of this loan but prior to this Agreement, received a discharge in a Chapter 7 bankruptcy, and there having been no valid reaffirmation of the underlying debt, by entering into this Agreement, the Lender is not attempting to re-establish any personal liability for the underlying debt. 6. 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. Except as otherwise specifically provided in this Agreement, the Note and Security Instrument will remain unchanged, and Borrower and Lender will be bound by, and comply with, all of the terms and provisions thereof,as amended by this Agreement. [Signature Pages Follow] LOAN MODlFICA nON AGREEMENT - Single Family - Fannie Mae Uniform Instrument FAND# 3179STEP-3 Rev. 05-31-06 Form 3179 1/01 (rev. 8/01) (page 3 of 5) 0022284335 e00565 OPTION ONE MORTGAGE CORPORA nON " CynthIa SmIth Assistant Secretary -Lender By: ~' rY r.~ E PARRA - ¡?¡r R/o/l- f/ -Borrower \~ . \ Ø1u;V'^-., E~n PARRA .~ -Borrower -Borrower -Borrower -Borrower -Borrower LOAN MODIFICA nON AGREEMENT - Single Family - Fannie Mae Uniform Instrument FANDII3179STEP-4 Rev. 05-31-06 Form 3179 1/01 (rev. 8/01) (page 4 of 5) C00566 0022284335 [Space Below This Line for Acknowledgments] STATE OF WttYJ1.1A.,'h...fï COUNTY OF ~~~ . The foregoing instrument was ab<'nowledged before me this t¡'i4 /11a:AoIt ¿co2 by JAIME PARRA AND NOEMI PARRA ~;~ '?(J7~ Signature of Person Taking Acknowledg~nt Printed Name Title or Rank Serial Number, if any PATRICIA R. NYRE NOTARY PUBLIC COUNTY OF . STATE OF LINCOLN WYOMING I MY COMMISSION EXPIRES II Signature of Person Taking Acknowled LENDER ACKNOWLEDGMENT COUNTY OF ~- 4#ac4d LertRer- Ac J< by STATE OF The foregoing instrument was acknowledged before me this , the of a , on behalf of said entity. LOAN MODlFICA nON AGREEME - Single Family - Fannie Mae Uniform Instrument FANDII3179STEP-5 Rev. 05-31-06 Form 3179 1/01 (rev. 8/01) (page 5 of 5) THIS DOCUMENT W DAVID HAMLETT OPTION ONE MOR GAGE CORPORATION 3ADA IRVINE, CALlFO Lender Acknowledgement C00567 State of California County of Orange On 04-09-08 before me, David V. Hamlett, Notary Public, personally appeared Cynthia Smith, Assistant Secretary of Option One Mortgage Corporation, a California Corporation, who proved to me on the basis of satisfactory evidence to be the personC4 whose nameks1@Jare subscribed to the within instrument and acknowledged to me that he/~they executed the same in his@their authorized capacity~, and that by his@/their signatureu> on the instrument the persotf>, or the entity upon behalf of which the pers't {d,;d, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature~:ç& v-I{á¡,~ - ~ Name: David V. Hamlett