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HomeMy WebLinkAbout887084Record and Return to: Saxon Mortgage $ervtee~, Inc 4708 Mercantile Drive Ft. Worth, Texas 76137 Proparcd By: ~::~L~r~ J_ Loan N~ber: 11550~50 REOEIVED LINCOLN c(-~I ~rr,/ CLERK [Spuc.' Abo'-'c Thl~ Line For Re~ordlnR D'ztnl MORTGAGE M' I' S' F I L E N O. ~'~(_~ (_/9~'7 THIS MORTGAGE ("Security Instrument") is given on Januar~r 15, 2003 Virgil L Jennlngs, Jr and Angola M Wormings ~Lk~J~ ~ C~-~ . The mortgagor is ("Borrower"). This Security Instrument is given to America,s MoneyLine Inc, which is organized and existing under the laws of The lg~ate Of Virginia ' address is t a 8 0 Cox ROAIa , and whose GLL:rLq AI.~EN, Virginia 230 60 ("Lender"). Borrower owes Lender the principal sum of One ~undred One Thousand Two Hundred Fifty and 00/100th~ Dollars (U.S. $101,2S0.00 ). This debt is evidenced by Borrower's note dated the samc date as thb Security Instrtm~ent ("Note"), which provides for monthly paymems, with the full debt, if not paid earlier, due and payable on February 1, 2018 This Securily Instrmnent secures to Lender: (a) the repayment of the d~bt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) thc payment of all other sums, with interest, advanced urtdcr paragraph 7 to protect the security of ti'tis Security Instrument; and (c) the performance of Borrower's covcnants and agreements under this Security Instrument and thc Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender, with power of sale, the following described property located in Lincoln County, Wyoming: See Schedule A attached hereto and made a part hereof. which has thc address of Wyoming 8 3 i2 7 [Zip Code] WYOMING*Single Family-FNMA/FHLMC UNIFORM s "uM "'r :os Amende~ 91 --'~ VMP ~OR'r(3,~(~E FORMS ~ ~ · (~00)~'~'1-?~ g 1 Page 1 ol ~ I ' 1443 Prudd¥ String Rd , Thalrne ("PropexW Address"); [Street. Ci~], / L~.. U.L 0 01/15/2003 1B:36 FAX .-55 2 TOGETHER WITH all the improvements now or hereal~er erected on the property, and all easements, appm~¢nm~ces, and fixtures now or herealter a part of file property. All replacements and additions shall also be covered by this Security Insu'ument. All of the foregoing is referred to in this Security Instrument as the "Propcrty." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby convc~yed 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 tide to thc Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instalment covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as lbllows: 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under thc Note. 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Leltder on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds'~ for: (a} yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property; (b) yearly leasehold payments or ground rents on file Property, if any; (c) yearly hazard or property insurance premiums; (d) yearly flood insurance premiums, if may; (e) yearly mortgage insurance premiums, if any; and (f) any sums payable by Borrower to Lender, in accordance with the provisions of paragraph g, in lieu of the payment of mortgage insttrance premiums. These items arc called "Escrow Items." Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally related mortgage loan may reqoire for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.C. Section 2601 AOADI("RESPA"), unless another law that applies to the Funds sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amount not to exceed the lcsser amount. Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with applicable law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is such an institution) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items. Lender may not charge Bon'ower for holding and applying tho Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower intercst on the Funds and applicable law permits Lender to make ~uch a charge. However= Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting service used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an alp'cement is made or applicable law reqttires interest to be paid, Lend~ shall not be rrquired to pay Borrower any interest or earnings on the Funds. Borrower and Lender may agree in writing, however, that intere~ shall be paid on the Funds. Lender shall ~ve to Borrower, without charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for wl~ch each debit to the Funds was made. The Fm~ds are pledged as additional security for all sums secured by this Security Insmnnent. If thc Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower for thc excess Funds in accordance with the requirements of applicable law. If thc amount of the Funds held by Lender at any time is not suflicient to pay the Escrow Items when due, Lender may so notify Borrower in writing, and, in such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than twelve monthly payments, at Lenders sole discretion. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If, trader paragraph 21, Lender shall acquire or sell the Property, Lender, prior to thc acquisition or sale of thc Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit again~ the sums secured by this Securily Insmament. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs 1 and 2 shall be applied: first, to any prepayment charges due under the Note; second, to amounts payable under paragraph 2; third, to interest due; fourth, to principal due; and last, to any late charges duc under the Note. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Properly which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph_ If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. 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) conlests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent thc enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security tristan-neat, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within l0 days of the giving of notice. Form 5. Hazard or Property Insurance. Borrower shall keep the improvements now exi~ing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards, including floods or flooding, lbr which Lender requires instance. This insurance shall be maintained in file amounts and for ihe periods that Lender requires. The insurance carrier providing the insurance shall bc chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described ahoy;, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Propcmy in accordance with paragraph 7. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the in,anco career and Lender. Lender may make proof of loss if not made promptly by BorroWer. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, thc insurance proceeds shall be applicd to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance career has offered to settle a claim, then Lender may collect the insurance proceeds. Lender ]nay use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whethcr or not then due. The 30-day period will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the mount of thc payments. If under paragraph 21 tile Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of thc sums securcd by this Security instrument immediately prior to the acquisition. 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after thc cxecution of this Security Instrument and shall continue to occupy tile Property as Borrowcfs principal residence for at least one year after thc date of occupancy, unless Lender otherwise agree,q in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow thc Property to deteriorate, or commit waste on the ProperVy. Borrower shall be in default ii' any forfeiture action or proceeding, whether civil or criminal, is begun that in Lenders good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security intere,~t. Borrower may cum such a default and reinstate, as provided in paragraph I8, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material impairment of the lien created by this Security Insmmaent or Lender's security interest. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) ha connection with the loan evidenced by the Note, in¢luding~ but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security h~strument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such ~ a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessury to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrmnent, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement al thc Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. 8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument, Borrower shall pay the premiums r~quired to maintain the mortgage insurance in effect. If, for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain coverage substantially equivalent to thc mortgage insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not available, Borrower shall pay to Lender each month a sum equal to one-twelfth of thc yearly mortgage in~rance preminm being paid by Borrower when the insurance coverage lapsed or ceased to be in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve Form f / ~017 01/15/2003 18:37 FA~ 08870S4 ', payments may no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount and for the period that Lender requires) provided by an instuer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage inst,ranee ends in accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in cormection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be l~aid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrmnent, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of thc Property in which the fair market value of the Property immediately before thc taking is equal to or greater than the mount of the sums secured by this Security Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums scoured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, di,,idcd by (b) the fair market value of the Property immediately before the taking. Any balance droll be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to thc sums secured by this Security Instn~ment whether or not the sums are then duc. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to resto,'ation or repair of the Property or to the sums secured by ~his Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 11. Borrower Not Released; Forbearance By Lender Not s Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Inslrument granted by Lender to any ~ccessor in interest of Borrower shall not ol~erate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be reqttired to commence proceedings against any successor in interest or refuse to extend time for payment or oth~wise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbeaLance by Leader in exercising any fight or remedy shall not be a waiver of or preclude the exemise of any right or remedy. 12. Successors and Assigns Bound; ,Joint and Several LiabilitY; Co-sJ~ners. The covenants and agreements of this Security Instrument shall bind and benefit the successors and a~signs of Lender and Borrower, subject to the provisions of paragraph 17. Borrowers covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Insa'ument but does not execute the Note: (a) is co-signing this Security/,ns~tment only to mortgage, grant and convey that Borrower~s interest in the Property under the terms of this Security lnstnmacat; (b) is not personally obligated to pay thc sums secured by this Security Insla-urnent; 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 thc Note without that Borrower's consent. 13. Loan Charges. If~he loan secured by this Security Insmament is subject to a law which sets maximmn 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 necessasy to ~duce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be lxea~ed as a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to Borrower provided for in this Security Instrument 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 ~o thc Property Address or may other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed lo have been given lo Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability, This Security Inslrument 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 Instrument or the Note which can be given effect without the conflicting provision. To this cad the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one conformed copy of thc Note and of this Security Insla-ument. 01/15/2003 18:,38 FA.X_ ~gl. uJ.~ 17. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or tr~s£crred (or ifa beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate paymcnt in ~ll of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exereise is prohibited by federal law as o£ the date of 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 fi-om the date the notice is delivered or mailed 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 pennitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrtune,at discontinued at any time prior to the earlier of: (a) $ 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 (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower:. (a) pays Lender all sums which then would be due under this Security Instrument and the Note m if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that tho lien of this Security Instrument, Lender's rights in the Prop¢~y and Borrower's obligation to pay the sums secured by this Security Insmament shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secrued hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the ease o£ acceleration under parag~ph 17. 19. Sale of Note; Change of Loan Servicer. The Note or a partial interest ha the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity (known as the "Loan Se~vicer") th-~t collects monthJy payments due under the Note and this Security Instrument. There also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change in accordance with paragraph 14 above and applicable law. The notice will state the name and add, ss of the new Loan Servicer and the address to which payments should be made. The notice will also contain any other information required by applicable law. 20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in thc Propercy. Borrower shall not do, nor allow ~yone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantifies of Hazardous Substances that are gener,~lly recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall prompdy 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 rcmediation of any Hazardous Substance affecting the Property is necessary, Bo,?ower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where thc Proper~y is located that relate to health, safety or environmental protection. NON-I_FNIFORM COVENANTS. Borrower and Lender funher covenant and agree as follows: 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be curedl and (d) that failure to cure the default on or before the date specified in the notice may result in accelerat/on of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate aRer acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender, at its 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 hy applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable attorneys' fees aRd 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 Property, if different, in accordance with applicable law, Lender shall give notice of the sale to [ ~_J. o19 01/15/2003 18:39 FAX Borrower in the manner provided in paragraph 14. Lender shah publish the notice of sale, and the Property shall be sold in the manner prescribed by applicable law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 22. Release. Upon payment of all sums secured by this Security Inmrament, Lender shall relcasc this Security lnsmmaent without charge to Borrower. Borrower shall pay any recordation cost~. 23. Waivers. Borrower waives all rights of homestead exemption in the Property and relinquishes all rights of curtesy and dower in the Property. 24. Riders to this Security lmtrument. If one or mom riders are executed by Borrower and recorded together with this Security Irmtrument, the covenants and agreements of each ~uch rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security lnstn,mcnt as if the rider(s) were a pan of this Security Irmmanent. [Check applicable box(cs)] ~[_~_] Adjustable Rate Rider Graduated Payment Ridm- [---] Balloon Rider [VA Rid,r Arbitration Rider [ Condom~um Rider ['~ I-4 Family Rider Planned Unit Development Rider [ [ Biweekly Payment Rider [] Kate Improvement Rider [] Second Home Rider [] Other(s) [specify] TAX SERVICE RIDER BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Inslrument and in any rider(s) executed by Borrower and recorded with it. Witnesses: STATE OF WYOMING, ~,~e___~x.0_~nty Thc foregoing instrument was acknowledged before me this O'anua_r'/' 15, 2003 by Anffela H ~enningm and Virgil -,er appear:d bi,' :heir la.w.6-'! a~eme,-y-ia-fa~. My Commission Expires: \ c~.~ ~ ~ ~.~ I~ff6R(W'Y) Notary Public Form :3051 9190 ALTA COMMIT~NT - 1982 - WY $CI~.DI~E C The land referred to in this commitment is situated in the Stat~ of Wyoming, County of I,ineoln, and is described as follows: A parcel of land located in the NE~NE~ of Section 13, T34N RllgW of the 6th P.M., Lincoln County, Wyoming, bein9 a portion of the record tract in Book 173PR on pa~ 147 in the Lincoln County Cl~rk'~ office and being more particularly described as follows: Beginning at the northeast corner of said Section 13, where is found a spike in the county road, witnessed 30.00 feet east and west by BLM type brass cap~ set by RLS 578; thence South 397.87 feet along the east line of said Section 13 to a spike in the road; thence S 89:33'06" W, 306.25 feet along a post and pole fence to a point; thence North 402.76 feet to a point on the north line of said Section 13; thence S S9o32'00,, E, 306.25 feet along said north line to the point of beginning. 01/15/2003 18:39 FAX ~020 1155085g =58 ARBITRATION RIDER TO TH-E MORTGAGE/DEED OF TRUST THIS RIDER is made this lSTI{ day of 0'anuary, 2003 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to ~ecure Borrower's Note (the '%lote") to ~mer~ca' s Moneyr.ine 'rna. (the "Lender") of thc same date and covering the property described in the Security Instrument and located at: 1443 Muddy String Rd Thayne, Wyoming 83127 3ZCIH.42~IJB B~t :r As used in this Rider the term "Lender" includes Lender's successors and assigns and the company servicing the Note on Lender's behalf (the "Servicer"). ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Insmanent, Borrower and Lender further covenant and agree as follows: ARBITRATION OF DISPUTES. All disputes, claims, or controversies arising from or related to thc loan evidenced by the Note (the "Loan"), including statutory claims, shall be resolved by binding arbitration, and not by court action, except as provided under "Exclusions from Arbitration" below. This arbitration agreement is made pursuant to a transaction involving interstate commerce, and shall be governed by the F-deral Arbitration Act (9 U.S.C. §§ 1-14). In any arbhradon hereunder, the arbitrator shall be appointed by, and the arbitration conduced pursuant to thc rules of procedure of, any one of the following arbitration service providers as shall be selected by the party initiating such arbitration: National ArbiTration Forum, American Arbitration Association, or JAMS/Endispute. Howe,/er, if any law apphcabl¢ to thc Loan requires mortgage lenders to ¢ngag,, or would otherwise impose enhanced regulatory restrictions on mortgage loans that to not engage, any particular arbitration service provider, the parties agree to engage such specified provider. Any arbitration hearing shall be conducted within the Federal judicial district in which the Property is located, or wkhin such other or more limited area as required by any applicable law. The arbitrator shall set forth in the award findings of fact and conclusions of law supporting the decision, which must bt based on applicable law and supported by substantial ~vidcnec presented in the proceeding. Judgment upon the award may be entered by any court of competent jurisdiction. Ail disputes subject to arbitration under this agreement shall be arbitrated individually, and shall not be subject to being joined or combined in any proceeding with any claims of any persons or class of persons other than Borrower or L~ndcr. FEES OF ARBITRATOR. In any arbitration that pertains solely to the Loan initiated by Borrower, Borrower shall not be required to pay more than $125 ia initial filing fees to thc arbitrator. The Lender shall pay any balance of such initial fees. In addition, the Lender shall pay all other fees and costs of the arbitrator for the first eight (8) hours of arbitration of any such case. The arbitrator's costs and fees for services in excess of eight (8) hours shall be the responsibility of the losing party ia the arbitration. In no evem, however, shall either party be responsible for any fees or expenses of any of the other party's attorneys, wimesses, or consultants, or any other expenses, for which such other party reasonably would have been expected to be liable had such other parry initiated a suit in the courts of thc jurisdiction in which the Borrower res/des regarding a similar dispute. Page I of 2 SCI Services Arl~i~ration Ride~ (06/2002) (07- I 1-97) C-23774--4 [ 96440051 .uti 01/1S/2002 18:39 FAX :.59 EXCLUSION FROM ARBITRATION. This agreement shall not limit the right of Lender to (a) accelerate or rcqnire immediate payment in full of the secured indebtedness or exercise the other Remedies described in this Security Inswament before, during, or after any arbitration, including the right to foreclose against or sell the Property; (b) exercise thc rights set forth in the Uniform Covenant labeled "Protection of Lenders' Rights in the Property" contained in this Security Instrument, or (c) exercise of the right under thc terms of this Security Instrument to require payment in full of the indebtedness upon a transfer of the ?ropcrty or a ben,-ficial interest therein. Should Borrower appear in and contest any judicial proceeding initiated by L~nder under this Exclusion, without asserting any counterclaim or seeking affirmative relief against Lender, then upon request of borrower such judicial proceedings shall be s~ayed or dismissed, and the matter shall proceed to arbitration in accordance with the section entitled rb~tration of Disputes". Any dispute that could otherwise have been asserted as a couuterclaim or grounds for relief in such a judicial proceeding shall be resolved solely in accordance with the section entitled "Arbitration of Disputes". No provision of this agreement shall limit the right of Borrower to exercise Borrower's rights under the Uniform Covenant labeled "Borrower's Right to Reinstate". NOTICE: BY SIGNING THIS ARBITRATION RIDER YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT OF TIlE MATTERS DESCRIBED IN THE 'ARBITRATION OF DISPUTES' SECTION ABOVE DECIDED EXCLUSIVELY BY ARBITRATION, AND YOU ARE GIVING UP ANY RIGFITS YOU MIGHT HAVE TO LITIGATE DISPUTES IN A COURT OR J'[~y TRIAL. DISCOVERY IN ARBITRATION PROCEEDINGS MAY BE LIMITED BY THE RULES OF PROCEDURE OF TILE SELECTED ARBITRATION SERVICE PROVIDER. THIS IS A VOLUNTARY ARBITRATION AGREEMENT. IF YOU DECLINE TO SIGN THIS ARBITRAIION AGREEMENT, LENDER WILL NO/ REFUSE TO COMPLETE THE LOAN TRANSACTION BECAUSE OF YOUR DECISION. BY SIGNING BELOW, Borrower accepts and agrees to the provisions contained in this Rider. Ange~.~ l,f ,.Te~.~g,~ XP(IPcAC XPCiP=AC XP(IPeAC XP([PeAC Pagg 2 of 2 SCI Services A~bitration Rider (06/2002) (07-11-97) c-23774-~ I 96440052.uff 01/15/2003 18:40 FAX ~022 ,-:60 11550850 TAX SERVICE RIDER TO THE MORTGAGE/DEED OF TRUST TI-IlS RIDER is made this 15TH day of o'anuaz3,, 2 003 and is incorporated into and shall be deemed to mmnend and supplement the Mortgage, Deed of Trust or Security Deed (the "Scour/fy Instrument") of the same date given by thc undersigned (the '~orrower") to ~ecure Borrowers Note (the "Note") toAmeriea, s MoneyLine In¢. (the "Lender") of the same date and coveting th, property described hi the Security Instrument and located 1443 Muddy String Rd, Thayne, Wyoming 8312'/ As used in this Rider the term "Lender" includes Lendcr's successors and assigns and the company servicing thc Note on Lender's behalf. Notwithstanding any provision to the contrary contained in the "Uniform Covenants" section of the Security Instrument, paragraph 3, "Funds for Escrow items"**, Lender may require Borrower to pay a one-time charge for a real estate tax zeporting service, which may be either an ind~cndent real estate tax reporting service, or may be a service provided by Lender itself, unless applicable law does not permit Leader to make such a charge. Any such charge shall appear on the HUD-1 Settlement Statement signed by Borrower in connection with this loan. The purpose of this Rider is to amend the "Uniform Covenants" section of the Security Instrument, paragraph 3, "Funds for Escrow Items" to make it clear that Lender may provide such tax r, porfing service itself, as opposed to havinfg~uch service provided by an independent company. · * In cerra/n states using the "Plain Lanffimge" form of $ecuriv] Imm~rnent, paragraph 2 of the Unifnrm Covenants section of the Security Instrument may be enlirled "Monthly ?aymenta for Iaxes and Insurance". Sex Form R306 (0 I/31/0D SM000tl