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HomeMy WebLinkAbout89250004017470 After Recording Return To: National City Mortgage Co. P.O. Box 8800 Dayton, OH 45401-8800 Prepared By: Robertson & Anschutz; P.C. 10333 Richmond Avenue, Suite 550 Houston, TX 77042 892500 RECEIVED LINCOLN COUNTY CLERK It.,, PM 2:2 8 BOOK ~IPRPAGE 0 4 5 MORTGAGE Loan No. 2480361 DEFINITIONS Words Used in multiple sections of flits document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Sec,ratty Instrument" means this document, which is dated August 8, 2003. together with all Riders to this document. (B) "Borrower" is Clyde R. Jordan, A MARRIED PERSON. Borrower is the mortgagor under this Security Iustmment. (C) "Lender" is USA Home Lending CorpOration. Lender is a corporation organized and existing nnder the laws of the State of Texas. Lender's address is 13~15 Burnet Road, Suite 110, Austin. TX 78728. Lender is the mortgagee under this Security Instrument. (D) "Note" ~neans the promissory note signed by Borrower and dated August 8, 2003. The Note states that Borrower owes Lender Two Hundred Sixty Eight Thousand and no/100 Dollars (U.S. $268,000.00 ) plt,s interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in fidl not later than September 1, 7.033. (E) "Property" ,neans die property that is described below under the heading "Transfer of Rights in the Property." (F) "Loan" means die debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sa,ns due under this Security Instrument, plus interest. (G) "Riders" ,neans all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: [ ]Adjustable Rate Rider [ ] Balloon Rider [ ]Rate Improvement Rider [ ] 1-4 Falnily Rider [ ] Condo,nih,urn Rider [ ]Planned Unit Develop,neat Rider [ ]Addendum to ARM Rider [] [ ]Second Ho,ne Rider [ ] Biweekly Pay,neat Rider [ ] Construction Loan Rider [ ] Subordinate Lien Rider : "Applicable Law" ,neans all controlling applicable federal, state and local statutes, regulations, dinances m~.d ad.m.J.n, istrative r_.es an.d orders (~J~.at have me effect of. law) as u~ell nc all applicable fl.:m!, p. on- appealable judicial opinious. 0[) "Community Association Dues, Fees, and Assessments" ,neans all dues, fees, assessments and other charges that are imposed on Borrower or the Property bya condominium association, hmneowners association or similar organization. "Electronic F,mds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an elect~'onic terminal, telephonic instrument. computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an WYOMINg--Single F,'unily--Fa~de Mae/Freddie Mac UNIFORM IlqSTRUMENT (R&A) 5510029 - si3051.wy- Rev. 10/02/2001 Form 30.51 1/01 (Page i of 12 Pages) '? account. Such term includes, but is not litnited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghot,se transfers. (I0 "Escrow Items" means those items that are described in Section 3. (L) "Miscellaneous Proceeds" means any colnpensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid. under the coverages described in Sectiou 5) for: ti) damage to, or destruction of, the Property; (ii) conde~mlation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, tile value and/or condition of fire Property. tM) "Mortgage Insurance" ~neans insnrance protecting Lender against the nonpayinent of, or defat,lt on, the Loan. tN) "Periodic Payment" means file regularly scheduled amouat due for ti) principal and interest ,ruder the Note, plt,s (ii) auy alnounts tinder Section 3 of this Security Instm~nent. (O) "RESPA" means the Real Estate Settle~nent Procedures Act (12 U.S.C. ~2601 et seq.) and its iinple~nenting regulation, Regulation X (24 C,F.R. Part 3500), as they might be amended frmn time to time, or any additional or successor legislation or regulation that governs the same subject ~natter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed iii regard to a "federally related inortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" tinder RESPA. (P) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instnunent secures to Lender: ti) rite repayment of the Loan, and all renewals, extensions and ~nodifications of the Note; and (ii) the Performance of Borrower's covenants and agreeinents under this Security Instn, ment and the Note. For this purpose, Borrower does hereby lnortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the following described property located in the Co,tory of Lincoln: See Exhibit 'A' attached hereto and made a part hereof for all purposes which cnrrently has the address of 1434 COUNTY ROAD 106, Etna, WY 83118 ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instalment as the "Property." WYOMING--Sh~gle F,'unily--Fa~fie Mae/Freddie Mac UNIFOI~M INSTRUMENT (R&A) 5510029 - si3051.wy- Rev. 10/02/2001 3051 1/01 (Page 2 of 12 Pages) BORROWER COVENANTS that Borrower is lawfiflly seised of the estate hereby conveyed and has the right to lnortgage, grant and convey the Property and that the Property is unencumbered, except for encmnbrances of record. Borrower warrants and will defend generally tile title to the Property against all claims and demands, subject to any encmnbra'nces 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 instrument covering real property. . UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment Of.Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay filnds for Escrow Iteins pursuant to Section 3. Payments due tinder the Note and this Security Instrmnent shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instnunent is returned to Lender unpaid, Lender may require that any or all subsequent pay~nents due tinder the Note and this Sect,rity Instrtunent be inade in one or ~nore of the following for,ns, as selected by Lender: .(a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon all institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at snch other location as may be designated by Lender in accordance with tile notice provisions in Section 15. Lender may retnrn any payment or partial pay~nent if the pay~nent or partial payments are insufficient to bring tile Loan current. Lender may accept any payment or partial pay~nent insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to reft,se such payinent or partial payments in tile fixture, but Lender is not obligated to apply such pay,nents at tile ii,ne such pay~nents are accepted. If each Periodic Payment is applied as of its scheduled due date,, then Lender need not pay interest on unapplied fimds. Lender may hold such unapplied fimds until Bon'ower lnakes payment to bring tile Loan current. If Borrower does not do so within a reasonable period of ii,ne, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under tile Note immediately prior to foreclosure. No offset or clai~n which Borrower might have now or in tile future against Lender shall relieve Borrower from making paylnents due under the Note and this Security Instrmnent or performing tile covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal dlie under tile Note; (c) alnounts due under Section 3. Such paylnents shall be applied to each Periodic Pay~nent iu the order in which it became due. Any remaining amounts shall be applied first to late charges, second to mW other mnounts due under this Security Instrument, and then to reduce the principal balance of tile Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which inchldes a sufficient amount to pay any late charge due, the payment may be applied to the delinqnent payment and the late charge. If tnore than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of tile Periodic Payments if, and to file extent that, each payinent can be paid in fidl. To tim extent that any excess exists after tile payment is applied to tile fidl paylnent of one or more Periodic Payments, such excess may be applied to any late charges due. Voh,ntary prepayments shall be applied first to mW prepay~nent charges and then as described in file Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due nnder file Note shall not extend or postpone the due date, or change the amount, of tile Periodic Payments. 3. Fimds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note. until the Note is paid in fidl, a stun (the "Funds") to provide for payment of amounts due for: (a) taxes and assesslnents and other items which can attain priority over this Security Instrument as a lien or WYOMING--Single Fmnily--Faoaie Mae/Freddie Mac UNIFORM INSTRUMENT (R&A) 5510029 - si3051.wy- Rev. 10/02/2001 Farm 3051 1/01 (Page 3 of 12 Pages} :cuinbrance ,,on the Property; (b! leas, ehold payments or gr.O, und rents on the Property, if any; (c) premiums r any and a__ insurance requirec, by .~-ender' under' Section 'a; and: (d) Morlgage- ~ns~ance' premiums, i5 arty-, or any snlns payable by Borrower to Lender in lien of ~e payment of Mortgage Instance premiums in accordance with ~e provisions of Section 10. These items are called "Escrow Ite~m." At origina~on or at any ~me during ~e term of ~e Loan, Lender may require that Communi~ Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees, and assess~nen~ shall be an ~crow Item. Borrower shall promptly furnish to Lender all no~ces of amoun~ to be paid under als Section. Borrower shall pay Lender the Funds for ~crow Items u~ess Lender waives Borrower's obligation to pay the Funds for any or all Escrow Ite~ns. Lender ~nay waive Borrower's obliga~on to pay to Lender Funds for any or all Escrow Items at any ~me. Any such waiver may only be in writing. In fl~e event of such waiver, Borrower sh~l pay directly, when and where payable, ~e amoun~ due for any Escrow Ite~m for which payment of Funds has been waived by Lender and, if Lender requires, shall f~nish to Lender receip~ evidencing such payment within such ~ne Period as Lender may require. Borrower's 0bliga~on to make such paymen~ and to provide receipm shall for all purposes be deemed to be a covenant and agreement contained in this Securi~ Ins~ment, as fl~e phrase "covenant and agree~nent" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay ~e amount due for an Escrow Item, Lender may exercise i~ rights under Section 9 and pay such amount and Borrower sh~l Sen be obligated under Section 9 to repay 'to Lender any such amount. Lender ~nay revoke the waiver as to any or all Escrow Items at any ~me by a notice given in accordance wi~ Sec~on 15 and, upon such revocation, Borrower shall pay to Lender all Fnnds, and in such amount, that ~e then required under Sis Section 3. Lender may, at any ~ne, collect and hold Funds in an amount (a) sufficient to permit Lender to apply · e Funds at ~e ~me specified under RESPA, and (b) not to exceed the maximum amonnt a lender can require under RESPA. Lender shall estimate rite amonnt of Funds due on fl~e basis of cnrrent data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance wi~ Applicable Law. The Funds shall be held in an institution whose deposi~ ~e insured by a federal agency, instrumentaliW, or entity (including Lender, if Lender is an institu~on whose deposi~ are so insured) or in any Federal Ho~ne Loan Bank. Lender shall apply the Funds to pay the Escrow Ite~m no later ~an the time specified under RESPA. Lender shall not charge Borrower for holding and applying fl~e Funds, annually analyzing the escrow account, or verifying the Escrow Items, u~ess Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. U~fless an agreement is made in wri~ng or Applicable Law requires interest to be paid on ~e Fnnds, Lender sh~l not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, ~at interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual acconnting of ~e Funds as required by RESPA. If ~ere is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for ~e excess fimds in accordance with RESPA. If ~ere is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower ~ required by RESPA, and Bm~ower shall pay to Lender · e amount necessaw to make up file shortage in accordance with RESPA, but in no more than 12 mon~ly payments. If there is a deficiency of Fnnds held in escrow, as defined under RESPA, Lender shall noti~ Borrower as required by RESPA. and Borrower shall PaY to Lender ~e mnount necessa~ to make up the deficiency in accordance with RESPA, but in no more ~an 12 mon~ly payment. Upon payment in fidl of all snms secured by ~is SecuriW Ins~ment, Lender shall promptly retired to Borrower any Funds held by Lender. 4. Ch~ges; Lie~. Borrower shall pay all ~xes, assessmenB, charge, fines, and imposi~ons at~ibutable to ~e Property which can attain priority over this SecuriW I~ment, leasehold payments or ground rents on the Property, if any, and CommuniW Association Dues, Fees, and Assessments, if any. To · e extent ~at ~ese items are Escrow Items, Borrower shall pay Sero in the ma~er provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Securi~ Ins~ument unless Bo~ower: (a) agrees in wri~ng to the payment of the obligation secured by the lien in a maturer acceptable to Lender, but only so lOng as Borrower is performing snch agree~nent; (b) contes~ ~e lien in good fai~ by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent WYOMING--Sb~gle Fmnily--F:-mi~ Mae/Freddie Mac UNIFOI~I INS'FRUMENT (R&A) 5510029 - si3051.wy- Rev. 10/02/2001 Fm-m 3051 1/01 (Page 4 of 12 Pages) 049 the enforce,nent of die lien while dlose proceedings are pending, b,t only until such proceedings are concluded; or (c) secures fi'om die holder of die lien an agreement satisfactory to Lender subordinating the lien to this Secm'ity Instrument. If Lender dete,',nines that any part of tile Property is subject to a lien which can attain priority over this Security Instrument, Lender ,nay give Borrower a notice identifying the lien. Within 10 days of tile date on which dlat notice is given, Borrower shall satisfy the lien or take one or more of die actions set forth above in this Section 4. Lender ,nay require Borrower to pay a one-time charge for a real estate tax verification and/or ireporting service used by Lender in connection with this Loan. 5. Property Ins,u'ance. Borrower shall keep die improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage,'' and any other hazards including, but ,lot limited to, earthquakes and floods, for which Lender requires insurance. This iusl,rance sball be maintained in die amouuts (including ded.ctible levels) and for die periods that Leuder requires. What Lender ,'equires pursuani to die preceding sentences can change during die term of die Loan. The insurance carrier providing the insurance shall 'be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exeCcised unreasonably. Lender may req,ire Bon'ower to pay, itl connection 'with' dds Loan, etd,er: (a) a one-time charge for flood zone determination, certification and tracldng services; or (b) a one-tilne charge for flood zone determination arid certification services and snbsequent charges each ti,ne remappiugs or similar chan§es occm- which reasonably ,night affect such determination or certification. Borrower shall also be responsible for the pay,nent of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determi~lation rest,lting fro,n an objection by Borrower. If Borrowe,' fails to maintain any of file coverages described above. Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any partic,lar type or amount of coverage. Therefore, such coverage shall cover Lender. b,t might or might not protect Borrower, Borrower's equity in die Property, or die contents of the Property. against any risk. hazard or liability and lnight provide greater or lesser coverage than was previo,sly in effect. Borrower acknowledges that die cost or' the insnrance coverage so obtained ,night significantly exceed Lire cost of insurance d~at Borrower could have obtained, Any atnounLs disbursed by Lender under {Ills Section 5 shall become additional debt of Borrower secured by Ods Securib, Inst,'ument. These amounts shall bear interest at tile Note ,'ate from the date of disbursement arid shall be payable, with such interest, upon 'notice froln Lender to Borrower requesting pay,nent. All ins,rance policies required by Lender and renewals of such poli/:ies shall be snbject to Leuder's right to disapprove such policies, shall include a standard ,nortgage clause, and shall ha,ne Lender as ,nortgagee and/or as an additional loss payee. Lender shall have die right to hold the policies and renewal certificates. If Lender requires. Borrower shall prompdy give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains mW for,n of insurance coverage, not otherwise required by Lender, for damage to, or destruction of. tile Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In die event of loss. Borrower shall give p,'o,npt notice to die insurance carrier and Lender. Lender may ,nake proof of loss if not lnade promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, a,W insurance proceeds, whether or not the underlying insurance was reqnired by Lender, shall be applied to restoration or repair of tile Property, if die restoration o,' repair is economically feasible and Lender's security is not lessened. Du,'ing such repair and restoration period, Lender shall have the right to hold such insurance p,'oceeds until Le,lder has had an opportunity to. inspect such Property to ensure the work has been completed to Leuder's satisfaction, provided that such inspection shall be undertaken promptly. Lender ,nay disburse proceeds for {he repairs and restoration in a.single payment or in a series of progress payments as the work is completed. Unless an agree,neut is Inade in writing or Applicable Law requires interest to be paid on such insl,rance proceeds, Lender shall not be required to pay Borrower atW interest or earnings on such'proceeds. Fees for p,tblic adjusters, o,' other third parties, retained by Borrower shall not be paid out of die insurance proceeds and shall be tl.le sole obligation of Borrower. If tile restoration'or repair is not econotnically feasible or Lender's secl, rity would be lessened, tile insurance proceeds shall be WYOMING--Single Fa,nily--Farmie Mae/Freddie Mac UNEFORM INS'£RUtVfENT (R&A) 5510029 - si3051.~- Rev. 10/0~/2001 Form 3051 ldO1 (Page 5 or' 12 Pages) applied to the stuns secured by this Security Instrument, whether or not then dlie, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons tile Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instnunent, and (b) any other of Borrower's rights (other than the right to any retired of unearned premiums paid by Borrower) under ali insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts, unpaid under the Note or this Secnrity Instrument. whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal reside~lce within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extem~ating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or coimnit waste on the Property. Whether or uot Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determiued pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair tile Property if damaged to avoid fi~rther deterioration or damage. Ifinsnrance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or, restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or conde~nnation proceeds are not s~lfficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Leander may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying snch reasonable cause. 8. Borrower's Loan Application. Borrower shall be iii default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instnunent, (b) there is a legal proceeding that might significantly affect Leiider's interes~ in the Property and/or rights tinder this Security Ins~ment (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Le~tder lnay do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instnunent, including protecting and/or assessing the valise of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secm'ed by a lien which has priority over this Security Instnunent; (b) appearing in court; mid (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Insti'ument, including its secnred position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may WYOMINC~-Si~gle Feanily--F~mie Mae/Freddie Mac UNIFORM INSTRUMENT (R&A) 5510029 - si3051.wy- Rev. 10/02/2001 Fo~m 3051 1/01 (Page 6 of 12 Pages) 0 051 take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs rio liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender nnder this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear iuterest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borro~ver shall comply with all the provisions of tile 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. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making file Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, tile Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to ~nake separately designated payments toward the pre~nimns for Mortgage Insurance, Borrower shall pay the pre~niums required to obtain coverage substantially equivalent to tile 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 selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of file separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve iu lieu of Mortgage Insurance. Such loss reserve shall be non-refimdable, notwithstanding the fact that the Loan is ultimately paid in fidl, and Lender shall not be required to Pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in file amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated pay~nents toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of ~naking the Loan and Borrower was required to make separately designated payments toward the pre~niums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Ins,rance in effect, or to provide a non-refimdable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or Until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at tile rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and ~nay enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of fimds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance prelniums), As a result of these agreements, Lender, any purchaser of the Note, another iusurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, ~nay receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the ~nortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of file premimns paid to the insurer, file arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amotmts that Borrower has agreed to pay for Mortgage Insurance, or ,any other terms of tile Loan. Such agreements will not increase the ammmt Borrower will owe for Mortgage Insurmtce, and they will not entitle Borrower to any retired. (b) Any such agreements will not affect tile rights Borrower has - ff any - wilh respect to the Mortgage Insurance ~mder the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and .obtain cancellation of the Mortgage Insurance, WYOMING--SIngle Family--F~Ule Mae/Freddie Mac UNIFORM INSTRUI~NT · (R&A) 5510029 - si3051.wy- Rev. 10/02/2001 Fot-m 3051 1/01 (Page 7 of 12 Pages) to have the Mortgage Insurance terminated automatically, and/or tO receive a refund of any Mortgage Insurance premi,,mq that were ~mearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. ~ If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender!s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opporttmity to inspect such Property to ensure the work has been completed to Lende,"s satisfaction, provided that s/tch inspection shall be nndertaken promptly. Lender may pay for the repairs and restoration in a single disburse,nent or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required tO pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the stuns secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneons Proceeds shall be applied in the order provided for in Section 2. Ill the event of a 'total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the stuns secured by fl~is Security Instrument, whether or not then dne, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in valne is equal to or greater than the amount of the sums secured by this Security Instrmnent immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the stuns secured by this Security Instnunent shall be reduced by the alnount of the Miscellaneous Proceeds lnultiplied by the following fraction: (a) the total atnount of the stuns secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair tnarket value of the Property im~nediately before the partial taking, destruction, or loss in value. Ally balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair ~narket value of the Property i~nmediately before the partial taking, destruction, or loss in value is less than the amount of the sums secnred ilmnediately before file partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the stuns secured by this Security Instrmnent whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as deftned in the next sentence) offers to ~nake an award to 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 Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instnunent..Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgtnent, precludes forfeiture of the Property or other material ilnpair~nent of Lender's interest in the Property or rights nnder this Security Insa'ument. The proceeds of any award or ciai~n for dmnages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided, for in Section. 2. 12. Borrower NOt Released; Forbearance By Lender Not a Waiver. Extension of the ti,ne for pay~nent or ~nodification of amortization of tile stuns secured by this Security Instrmnent granted by Lender WYOMING--Sb~gle Fmnily--Fa~mie MadFreddie Mac UN]I:ORM INSTRUMENT (R&A) 5510029 - si3051.wy- Rev. 10/02/2001 Form 3051 1/01 (Page 8 of 12 Pages) 053 to Borrower or any Successor iu Interest of Borrower shall not operate to release the liability of Borrower or: any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refi~se to extend time for payment or otherwise ~nodify atnortization of the stuns secured by this Security Instrmnent by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or re~nedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in a~nounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instnnnent only to ~nortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the stuns secured by this SeCurity Instrument; and (c): agrees that Lender and any other Borrower can agree to extend, ~nodify, forbear or make any accmnmodations with regard to the terms of this Security Instrmnent or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assmnes Borrower's obligations under this Security Instnunent in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released fi'o~n Borrower's obligations and liability under this Security Instrmnent unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. lzt. Loan Charges. Lender inay charge Borrower fees for services perfortned in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrnment, including, but not li~nited to, attorneys fees, property inspection and valuation fees. In regard to any other fees, the absence of express' authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of snch fee. Lender may not charge fees that are expressly prohibited by this Security Instrmnent or by Applicable Law. If the Loan is subject to a law which sets ~naxi~num loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with rile Loan exceed the perinitted li~nits, then: (a) any stlch loan charge shall be reduced by the ainount uecessal3t to reduce the charge to the perlnitted lilnit; and (b) any stuns already collected from Borrower which exceeded permitted limits will be refimded to Borrower. Lender may choose to make this retired by reducing the principal owed under the Note or by making a direct paylnent to Borrower. If a retired reduces principal, the reduction will be treated as a partial prepay~nent without any prepayment charge (whether or not a prepayment charge is provided for tinder rile Note). Borrower's acceptance of any such retired tnade by direct pay~nent to Borrower will constitute a waiver of any right of action Borrower lnight have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument ~nust be in writing. Any notice to Borrower in connection with this Security Instrmnent shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be rile Property Address nnless Borrower bas designated a substitute notice address by notice to Lender. Borrower shall pro~npfly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There lnay be only one designated notice address under this Security Instrmnent at any one ti~ne. Any notice to Lender shall be given by delivering it or. by mailing it by first class mail to Lender's address stated herein nnless Lender has designated another address by notice to Borrower. Any notice in' connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. WYOMllqG--Single Family--Famaie Mae/Freddie Mac UNIFORM INSTRUMENT (R&A) 5510029 - si30fl.wy- Rev. 10/02/2001 Form 3051 1/01 (Page 9 of 12 Pages) 054 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations ~ontained in this Security Instrument are subject to any requirements and li~nitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be constrtied as a prohibition against agreement by contract. In the event that any provision or clause of this Secnrity Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or file Note which can be given effect without the conflicting provision. As used in this Security Instnunent: (a) words of tile masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) file word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial interest in Borrower. As used in this Section 18, "Interest in tile Property" means any legal or beneficial interest in the Property, including, but not liinited to, those beneficial interests transferred in a bond for deed, contract for deed, instalhnent sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a pm'chaser. If all or any part of tile Property or any Interest in tile 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 stuns secured bythis Security Insta'ument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. 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 lnust 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. 19. Borrower's Right to Reinstate After Acceleration. If Borrower lneets certain conditions, Borrower shall have the right to have enforcement of this Security Instnunent discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrmnent. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as 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, property inspection and valuation fees, and other fees incurred for the pnrpose of protecting Lender's interest in the Property and rights under this Security Instnunent; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender Jnay require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b)money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity', or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effectiVe as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. Tile Note or a partial interest in tt~e Note (together with this Security Instnunen0 can be sold one or more times without prior notice to Borrower. A sale might result in a change in tile entity (known as tile "Loan Servicer") that collects Periodic Payments due tinder the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might 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 which will state the name and address o£ the new Loan WYOMING--Single Family--l~ie Mae/Freddie Mac UNIFORM (R&A) 5510029 - sl3051.wy- Rev. 10/02/2001 Form 3051 1/01 (Page 10 of 12 Pages) 055 Servicer, the address to which pay, nents should be ,nade and any other information RESPA requires in connection with a notice of tra,sfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be trausferred to a successor Loan Servicer and are not assmned by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender ,nay commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrume,,t or tliat alleges that the other party has breached any provision of, or auy duty owed by reason of, this Security Instm,nent, m~til st, ch Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of s,,ch alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which m,,st elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice a,d opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardons S,,bstauces" are those substances defined as toxic or hazardous substances, pollutants; or wastes by Environmental Law and the following substances: gasoline, kerosene, other flmmnable or toxic petroletun prodncts, toxic pesticides and l}_erbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) ' .'E~vironmenta.'. Law' means fed. er~,' !.aws a:ad '_aws 05 '_he .l:mSd~C-,"on 'where 'lite Prope-,_'t-y-is ~.ocated _la. re'_z, te to health, safety or environmental protection; (c) "Environmeittal Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Enviromnental Condition" ,neans a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Snbstances, on or in the Property. Borrower shall not do, nor ~low anyone else to do, anything affecting the Property (a) that is in violation of any Euvironmental Law, (b) which creates an Euviromnental Condition, or (c) which, di,e to rite presence, use, or release of a Hazardons Substance, creates a condition that adversely affects the value of the Property. The preceding two seutences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardons Substances that are generally recognized to be appropriate to nor,nal residential uses and to ,naintenance of the Property (inchiding, but not limited to, hazardous substances in co,sumer products). Borrower shall promptly give Lender written notice of (a) any investigation, cia,,n, deinand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Enviromnental Law of which Borrower has actual knowledge, (b) any Enviromnental Condition, including but ,tot limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardons Substance which adversely affects the Valne of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or other reined, at,on of any Hazardons Substance affecting the Property is necessary, Borrower shall promptly take all necessary reined,al actions in accordance with Enviromnental Law. Nothing herein shall create any obligation on Lender for an Environlnental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (l~t not prior to acceleration ~mder Section 18 ~mless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) rite action req,fired to cure the defa,dt; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cui-e the default on or before the date specified in the notice may res~dt in acceleration of the s,mas secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of lite fight to reinstate after acceleration and the right to bring a court action to assert the non-exislence of a default or any other defense of Borrower to WYOMING--Single Fmnily--F~nnu. Mae/Freddie Mac UNIFORM INSTRUMENT (R&A) 5510029 - si3051.wy- Rev. 10/0g/g001 Form 3051 1/01 (Page 11 of 12 PageO 056 acceleration and sale. If the defa~dt is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all s~m~s 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 lifts Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if different, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the manner provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sold in the maqner prescribed by Applicable Law. Lender or its designee may pdrchase 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 sE,m.~ secured by this Sec~u-ity Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Insh'mnent. Bon'ower shall pay any recordation costs. Lender may charge Borrower a fee for releasing dds Security Ins~unent, 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. 24. Waivers. Borrower releases and waives all rights under and' byvirtue of the homestead exemption laws of Wyoming. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instm~nent and in any Rider executed by Bon'ower and recorded with it. Clyde 1~ Jcmd_ofi (Seal) (Seal) - Borrower - Borrower (Seal) (Seal) -gm'rower - Borrower STATE OF WYOMING, Lincoln County ss: The foregoing instrmnent was acknowledged before ,ne this by Clyde R. Jordan, A MARRIED PERSON. Nolm'y Public ¥lryOMINg--Sb~gle Fmnily--lira~mie Mae/Freddie Mac UNIFORM INSTRI/MENT (R&A) 5510099 - si3051.wy- Rev. 10/0g/g001 Form 30.51 1/01 (Page 12 of 12 Pages) D[4.~;~5o° 0 § ? RELEASE AND WAISt.., R For good and valuable consideration, thc receipt and sufficiency of which is aclmowledged, I t_-D,.:,z, oa~_~ Ug./~/~,J.-,Jo.g/~J, do hereby forever release m~d waive all rights under and by virtue of the Homestead Exemption Laws of the State of Wyoming in regm'd to: See Attached legal description together with all improvements thereto. -)~ Dated: This 8th day of August, 2003. STATE OF Wyoming ) COUNTY Lincoln ) The foregoing insmm~ent was aclmowledged before me this August, 2003, by .r~l nro~ llrh~n- lordarl WITNESS my hand and official seal...I.~-''--- Notary Public. My ComrmssionExpires: 10/5/2005 Residing in: Lincoln Countyl Wyoming 8th' day of xu~t~t~o3 s I1 !J. PUe'l-YtO~:~ DESCRIPTION JACX E. CORBI A~D TESS B. CORSI TRACT 1 ' STEWART CREEK TRACTS To-wit:-- That part of the £%HW% of Section 2], T]6tl, R119~, Lincoln County, Wyoming, it being the intent to redescribe that tract of record in the Office of the Clerk of Linco[n Count 200 of Photostatic Records on page 76], described as follows: BEGINNING at a southeast point of. said tract on the east line of said' E.%~Iw%, N00'-00.0'E, the base bearing for this sur,,ey, 2799.55 feet (2786.7 feet, record) from the south one-quarter Corner of said Section 23, found as described in the certified Land Corner Recordation Certificate filed in said Office; thence N89'-09.5'W, 541.56 feet (west, 540.00 feet, record), along the south line of said trac~, to a point; thence N00'-i].3'W, 767.98 feet (North, 758.4] feet, record), along the west line of said tract, to 'a 5/8" reinforcing rod; thence N48'-33. I'E, 146.33 feet (N49'-00'£, 144.0 feet, record),' along the north line of said tract, to a point; thence N42'-03. 1,E, 331.79 feet (N42 o-]0,E, 326.5 feet, record), along said north line, to a point; thence N52'-43.1'E, 267.14 feet, (N53'-10'E, 163.3 feet, re- cord), along said north line, to a 1/2" reinforcing rod on said east line; thence $00'-00.0'W, 1280.99 feet (1251.47 feet, record), along said east lane, to the POI1TT OF BEGI~rNING; ' SUBJECT to easements of sight and of record, including an easement for the Stewart'Trail County Road No. 12-106 of record in the said Office in Book 239 of Photostatic Records on page 77; ~ each "paint" marked by a 5/8" 'x 24" steel reinforcing rod with a 2' aluminum cap inscribed "SURVEYOR SCHERBEL, LTD. 8IG PINEY, WYO. PLS 5368"; all in accordance with the plat prepared to be filed in the office of the Clerk of Lincoln County titled "JACK E. A~;D TESS B. CORSI PLAT OF TRACT WIT)lIN THE E-%NW¼ SECTION 2] T36N RI19W ,INC~ CDUNTY, WYO~ated 1] October 1992. ",Viodific~lion in .~n¥ w.~y ol Ibc (o,eAo;n~ dc~crir~llon le~min.~le~, IL~b;I;Iy ol thc O58 '1