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HomeMy WebLinkAbout89433504018536 REOEIVEB LINCOLN OOUt,,ITy CLER~ 03 OCT I 0 3: After Recording Remm To: FIRST BANK OF IDAHO, FSB D/B/A FIRST BANK ADVISORS P.O BOX 12860 JACKSON, WY 83002 [Space Above This Line For Recording Data] HATTER MORTGAGE Lo~. #: 494010010 MIN: 100174102000009334 PIN #: 36192610012400 DEFINITIONS Words nsed in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain niles regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated OCTOBER 9, 2 0 03 together with all Riders to this document. (B) "Borrower"is WILLIAM AUSTIN HATTER AND CHERYL ANN HATTER, HUSBAND AND WIFE Bmxower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nonfinee for Lender and Lender's successors and assigns. MERS is the mortgagee nnder this Security Instrument. MERS is organized and existing nnder the laws of Delaware; and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. ' (D) "Lender" is FIRST BANK OF IDA/-IO, FSB D/B/A FIRST BANK ADVISORS Lender is a CORPORATION organized anti existing nnder the lawsof IDAHO . Lender's address is P.O. BOX 9000 KETCHUM, ID 83340 (E) "Note" means the promissory note signed by Borrower and dated OCTOBER 9, 2 0 0 3 The Note states that Borrower owes Lender ONE HUI',rDRED FIFTY-ONE THOUSA_NI) TWO I-III1FDRED AND 00/100 Dollars (U.S. $ 151,200.00 ) plus interest. Bm~rower has pronfised to pay this debt in regular Periodic Payments and to pay the debt in full not later than NOVEMBER 1, 2 03 3 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, phis interest, any prepayxnent charges aud late charges due tinder the Note, and all sums due under this Security Instrument, plus interest WYOMING - Si.gle Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCUKWYI (Page 1 of 13 pages) l~OC~W~Z.wx xo/xw:ooa 494010010 (H) "Riders" means all Riders to tiffs Security Instrument that are executed by Bon'ower. The following Riders are to be executed by Borrower [check box as applicable]: ? [] Adjustable Rate Rider [] Condonfininm Rider [] Second Home Rider [] Balloon Rider [] Plmmed Unit Development Rider [] Biweekly Payinent Rider [] 1-4 Family Rider [] Other(s) [specify] (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinauces and administrative rnles and orders (that have the effect of laxv) as well as all applicable final, non-appealable judicial opinions. (J) "Colnmunity Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Bon'ower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electromc ternfinal, telephonic instrument, coinputer, or magnetic tape so as to order, instrnct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale trausfers, automated teller machine transactions, transfers initiated by telephone, wke transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of danmges, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destrnction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condenmation; or (iv) nfisrepresentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (O) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any mnounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its i~nplementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to tmie, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrnment, "RESPA" refers to all requirements and restrictions that are i~nposed in'regard to a "federally related gnortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in hiterest 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 Instrn~nent secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreemeuts under this Security Instrument and the Note. For ttfis purpose, Bon'ower does hereby mortgage, grant and convey to MERS (solely as nonfinee for Lender and Leuder's successors aud assigns) and to the successors and assigns of MERS, and Lender's successors and assigns, with power of sale, the folloxving described property located in the COUNTY CLERK of TETON (Type of Recording Jurisdiction) (Name of Recording Jurisdiction) : AS PER LEGAL DESCRIPTION ATTACHED AS EXHIBIT A xvhich currently bas the address of 3333 EAST COUNTY ROAD 110 ETNA ,Wyoming 8 3118 [City] [Zip Code] WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DOCUKWY2 (Page 2 of 13 pages) DOC~K~2 .VTX 10/17/2002 [Street] ("Property Address"). Form 3051 1/01 228 4~4010010 TOGETHER WITH all tile improvements-uow or hereafter erected ou tile property, and all easements, appmtenances, and fixtures now or hereafter a part of the propexty. All replacements and additious shall also be covered by this Security lnsmmmnt. All of the foregoing is referred to in this Security Instrument as the "Property." Bon'ower understands and aga'ees that MERS holds only legal title to the interests granted by Bm-rower in this Security hlstmment, but, if necessary to comply with law m' custom, MERS (as nominee fox' Lender and Lender's successors and assigns) has the right: to exercise any m' all of those interests, including, but not limited to, the right to foreclose and sell the P,-operty; and to take any action required of Lender inclnding, bat not limited m, releasing and canceling this Security InstTument. BORROWER COVENANTS that Bmxower is lawfxdly seised of the estate hereby conveyed and has the right to mortgage, grant nnd convey the Property and that tile Property is unencumbered, except fox' encumbrances of record. Bon-ower xvarrants and will defend generally the title to the Property against all claims nnd demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited varihtions byjnrisdiction to constitute a unifom~ security instrument covering real property. UNIFOI~vl COVENANTS. Bon-ower and Lender covenant and agq-ee as follows: 1. Payme,U ot' Principal, Inte,'est, 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 prepa)qnent charges arid late charges due nnder the Note. Borrower Shall also pay fimds for Escrow Items pt,rsuant to Section 3. Payments due under file Note and this Security Instrument shall be made in u.S. c,rrency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or mm-e of the following lbrrns, 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. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions iu Secticm 15. Lender may retin-a any payment or partial payment if the payment or partial payments are insufficient to bring file Loan cun'ent. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the tim,re, but Lender is not obligated to apply such payments at the time snch pa3nnents are accepted. If each Periodic Payment is applied as of its scheduled due dale, then Lender need not pay interest oil unapplied fimds. Lender may hold such unapplied fimds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable pe,-iod of time, Lender shall either apply snch fimds or ,-emro them to Borrower. If not applied earlier, such fimds will be applied to the outstanding principal balance under the Note irmnediately prior to foreclosnre. No offset or claim which Borrower might have now or m the fim~re against Lender shall relieve Bm'rower flora making payments due under the Note and this Security Instrument or perfornfing the covenants and agreements secured by this Security Instrument. 2. Application of Payments ox' Proceeds. Except as otherwise described in this Section 2, all pa,yments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due trader the Note; (b) principal due under the Note; (c) ammmts clue lmder Section 3. Such payments shall be applied to each Periodic Payment in the orde,' in which it became dne. Any remaiuing amonnts shall be applied first to late charges, second to any other alnOUnts due under this Security Insn'ument, and then to reduce file principal balance of the Note. If Lender receives a payment fi'om Bon-ower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, fl~e payment may be applied to the delinquent payment and the late cha,ge. If more than one Periodic Payment is outstanding, Lender may apply any pa)qnent received fi'om Borrower to the repayment of file Periodic Payments il; and to the extent that, each payment can be paid in fidl. To the extent that any excess exists after the payment is applied to the fifil payment of one or more Periodic Payments; such excess may be applied to any late charges due. Vohmtary prepayments shall be applied first to any prepayment cha,ges and then as described in the Note; WYOMING - Single Family -Fannie Mae/Freddie IVI.'}c UNIFORM IIk/STRUMENT 13ocurwy~ (Page 3 of 13 pages9 Form 3051 1/01 494010010 Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under tlre Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, nntil the Note is paid in full, a snm (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold pa3m~ents or ground rents on the Property, if any; (c) prenmnns for any and all insnrance required by Lender under Section 5; and (d) Mortgage Insurance premiulns, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurauce prelniums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time dmmg the term of the Loan, Lender may require that Commnnity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Fnnds for Escrow Ite~ns unless Lender waives Borrower's obligation to pay the Fnnds for any or all Escrow Items. Lender may waive Borrower[s obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such xvaiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Itents for which pa3qnent of Funds has beeu waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may reqnire. Borrower's obligation to make such payments and to provide receipts shall for all purposes Be deemed to be a covenant and agreement contained in tiffs Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights nnder Section 9 aud pay snch amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given it~ accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any tin,e, collect and hold Funds in an amount (a) sufficient to pernfit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require nnder RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of furore Escrow Items or other~vise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (inclnding Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Fuuds to pay the Escrow Items no later than the time specified under RESPA. Lender shall uot charge Borrmver for holdh~g and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest ou the Funds and Applicable Law pernfits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be reqnired to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender sliall give to Borrower, without charge, an annual accounting of tl~e Funds as required by RESPA. If there is a surplus of Funds held in escrmv, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance xvith RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall, pay to Lender the amount necessary to make up the deficiency m accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Fnnds held.by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Comnmnity Association Dues, Fees, and Assessments, if any. To the extent that these itents are EsCrow Items, Bon'ower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in ~witing to the payment of the obligation secured by the lien iu a maturer acceptable to Lender, but only so long as Borrower is performing such agreemeut; (b) contests the lien in good faith by, or WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCUKWY4 (Page4ofl3pages) 494010010 defends against enibrcement of the hen in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until snch proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactot7 to Lender snbordinating the lien to tlils Security Instrunaent. If Lender determines that any part of the Property is subject to a lien xvhich can attain priority over this Secnrity Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Bon'ower to pay a one-time charge for a real estate tax verification and/or reporting service nsed by Lender in connection with this Loan. 5. Property Insurance. Bon'ower shall keep the 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 inclndiug, but not linfited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods .that Lender requires. What Lender requires pnrsuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject ~o Lender's right to disapprove Borrower's choice, which right shall not be exercised um:easonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, ce~lification and tracking services; or (b) a one-time charge for flood zone detemfination and certification services and snbsequent charges each time remappings or similar changes occur which reasonably might affect such deternfination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in Connection with the review of any flood zone detemfination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is tinder no obligation to pnrchase any particular type or amonnt of coverage. Therefore, such: coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of iusurance that Borroxver could have obtained. Any amounts disbursed by Lender under this Section' 5 shall become additional debt of Borrower secnred by this Security Insmmaent. These amounts shall bear interest at the Note rate front the date of disbursement and shall be payable, with such interest, npon notice from Lender to Borroxver requesting payment. All insurance policies required by Lender and renewals of such Policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender Shall have the right to hold the policies and renewal certificates. If Lender reqnires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any forn~ of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard motXgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's secnrity is not lessened. Dnring such repair and restoration period, Lender shall have the right to hold such insnrance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. 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. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on snch proceeds. Fees for public adjusters, or other third parties, retained by Bon'ower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not econoimcally feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, 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 the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond witliin 30 days to a notice from Lender that the insurance carrier has WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORlXl INSTRUI~IENT Form 3051 1/01 DOCUrWY~ (Page 5 of 13 pages) 494010010 offered to settle a claim, then Lender may negotiate aud 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) Bon'ower's rights to any iusnrance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any retired of unearned prenfiums paid by Borrower) under all insurance policies covering the l}rope~%,, 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 Security Instrument, whether or not then due. 6. Occupancy. Bon'ower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principaI residence for at least one year after the date of occupancy, nnless Lender otherwise agrees m writing, which consent shall not be um'easonably withheld, or unless extenuating circumstances exist wlfich 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 commit waste on the Propelty. Whether or not Bon'ower is residing in the iProperty, Bon'ower shall maintain the Property in order to prevent the Property from deteriorating or decreashxg in value due to its condition. Unless it is deternfined pursuant to Section 5 that repair or restoration is not economically feasible, Bon'ower shall promptly repair the Property if damaged to avoid fiuther deterioration or damage. If insurance or condenmation proceeds are paid in connection with damage to, or the takh~g 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 condemnation proceeds are not sufficient 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, Lender 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 such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's lm0wledge or consent gave materially false, misleading, or inaccurate infornmtion or statements to Lender (or failed to provide Lender with material infonnation) 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 Instrmnent. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Properly and/or rights under tiffs Security' Instrument (such as a proceeding in bax~mptcy, probate, for condenmation or forfeiture, for enforcement of a lien ~vhich may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay lbr whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instmn~ent, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can inchide, but are not linfited to: (a) . paying any sums secured by a lien which has priority over tlfis Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Insh'ument, including its secured positiou in a bankruptcy proceeding. Securing the Property includes, but is not linfited to, entering the Property to make repairs, change locks, replace or board np doors and windows, drain water from pipes, elinfinate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may 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 no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest 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 Instnnnent is on a leasehold, Borrower shall comply with all the provisions of the lease. Borrower shall not surrender the leasehold estate and interests herein conveyed or terminate or cancel the ground lease. Borrower shall not, without the express written consent of Lender, alter or amend the ground 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 ~vriting. WYOMING - Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOcuKwY6 (Page 6 of 13 pages) DOCUKWY 6 ,VTX 10/17/2002 494010010 10. Mortgage Insurance. If Lender required Mortgage Insurauce as a condition of making the Loan, Borrower shall pay the premiums required to maintain file Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated Payments toxvard the premiums for Mortgage Insnrance, Borrower shall pay the premiums required to obtain coverage substantially eqnivalent to' the 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 mol'tgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continne to pay to Lender file amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retaiu these payments as a non-l'efi~ndable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refi~ndable, notwithstanding the fact that the Loan is ultimately paid in fi. dl, and Leuder 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 the amount and for the period that Lender requires) provided by an insurer selected by Lender again bec'omes available, is obtained, and Lender requires separately designated payments toward the premiums for MoFtgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was reqnired to make separately designated payments toward the preminms for Mortgage Insnrance, Borrower shall pay the prenfimns required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, nntil Lender's requirement for Mortgage Insurance ends in accordance with any xvritten 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 the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that pnrchases 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 may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on telms and conditions that are satisfactory to tile mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insnrer to make payments using anY sonrce of fimds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance prenfiums). As a result of these agremnents, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amouuts that derive from (or nfight be characterized as) a portiou of Borrower's payments for Mortgage Insnrance, in exchange for sharing or modifying the mortgage 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 the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreemeuts will not affect tile amounts that Borrower has agreed to pay for Mortgage Iusurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insnrauce, aud they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower bas - if any - with respect to the Mortgage Insurance under the Homeowuers Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request aud obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneons 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 repak 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 opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspectiou shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in xvriting or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be reqnired to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's secmity would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 DOCUKWY7 (Page 7 of 13 pages) 494010010 this Security Instnnneut, whether or not then due, with the excess, if any, paid to Bonrowen Suck Miscellaneous Proceeds si]all be applied in the order provided for in Section 2. In the eveut of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by tiffs Security Instruinent, whether or not then due, witk tke excess, if any, paid to Borrower. Iu tke event of a partial taking, destruction, or loss in value of the Propmty in xvhich the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of tke sums secured by this Security Iustmment immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree iu writing, the sums secured by tkis Security Instmmeut skali be reduced by the mnount of tke Miscellaneous Proceeds multiplied by tke following fraction: (a) the total amount of the sums secured irmnediately belbre the partial taking, destruction, or loss in vahie divided by (b) the fair market Value of the Property immediately before the partial taking, destruction, or loss in value. Any balance skall be paid to Bmxower. In the event of a partial taking, destruction, or loss iu value of the Property iu which tke fair market value of the Property inm~ediately before the partial taking, destruction, or loss in value is less than tke amount of the sums secured irmnediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, tke Miscellauemxs Proceeds shall be applied to the sums secured by this Security Instrument whether or not tke sums are ]ken due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in tke 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 tke notice is given, Lender is authorized to collect and apply tke Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whetker or not then due. "Opposiug Party" means the third party tkat owes Borrower Miscellaneous Proceeds or the party agaiust whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if auy action or proceeding, whether civil or crimiual, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Leuder's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occun'ed, reinstate as provided in Section 19, by causing tke action or proceeding to be dismissed with a ruling that, in Leuder's judgment, precludes forfeiture of tke Property or other material impairment of Lender's interest in the Property or rights under tlfis Security Iustmment. Tke proceeds of any award or clahn for damages that are attributable to tke impairment of Lender's iuterest in the Property are kereby assigned and shall be paid to Leuder. All Miscellaneous Proceeds that are not applied to restoratiou or repair of tke Property shall be applied in the Order provided for in Sectiou 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Exteusion of tke ti~ne for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower skall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to conuneuce proceedings against any Successor in Interest of Borrower or to refi~se to extend time for payment or otherwise modify amortization of tke sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Auy forbearance by Lender in exercising any right or remedy including, without linfitation, Lender's acceptance of payments fxom tkird persons, entities or Successors in Iuterest of Borrower or in amounts less than the amount tken due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joiut and Several Liability; Co-signers; Successors and Assigns Bonnd. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrun~ent but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, 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 tke sums secured by this Security Instrument; and (c) agrees that Lender and any otker Borrower can agree to extend, modify, forbear or ]nake any acconmmdations with regard to tke terms of this Security Instrument or the Note without the co-siguer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Iustrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under tiffs Security Iustrument. Borrower shall not be released frmn Borrower's obligations and liability under this Security Iustrument unless Lender agrees to such release in writing. The covenants and WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFOR~M INSTRUMENT Form 3051 1/01 ~)ocu~twv8 (Page 8 of 13 pages) DOCU~Wt~.V?X ~.0/~.?/~000 494010010 agreements of this Secnrity Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borroxver fees for services perforated in com~ection with Borrower's default, for the propose of protecting Lender's interest in the Property and rights nnder this Security Instrument, including, but not limited 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 such fee. Lender may not charge fees that are expressly prohibited by this Security Instnm~ent or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in colmection with the Loan exceed the pemfitted linfits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pemfitted tinfit; and (b) any sums ah'eady collected from Borrower which exceeded permitted linfits will be refi~nded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Bon'0wer. If a refilnd reduces principal, the rednction will be treated as a partial prepayment without any prepayment charge (~vhether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refi~nd made by direct payment to Bon'ower will constitute a waiver of any right of action Borrower might have arising ont of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be iix writing. Any notice to Borrower in com~ection xvith this Security Instrument 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 the Property Address' unless Borrower has designated a snbstitute notice address by notice to Lender. Borrower shall promptly 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 throngh that specified procednre. There may be only one designated notice address under this Security Instnunent at any one time. 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 nntil actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Laxv, the Applicable Law requirement will satisfy the corresponding requirement tinder this Security Instrument. 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 contained in this Security Iustrument are subject to any reqUirements and limitations 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 construed as a prohibition against agreement by contract. 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. As nsed in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter xvords or xvords of the feminine gender; (b) words in the singular shall mean and inclnde the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Cop)'. 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 the Property" means any legal or beneficial interest in the Property, including, but not linfited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a futnre date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require inm~ediate payment in full of all sums secured by this Security Instrument. 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 fi'om the date the notice is given iu accordauce with Section 15 within which Borrower must pay all sums secured by this Secnrity Instrument. If Borrower fails to pay these sums prior to the ~:VYOblING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT r~ocu~,,v~9 (Page 9 of 13 pages) DOCUK~/9 .~rx 10/17/2002 Form 3051 1/01 494010010 expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without fi~rther notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the :right to have enforcement of this Security Instrument 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 Laxv nfight specify lbr the terminatioh of Borrower's right to reinstate; or (c) entry of a judgment enfOrciug 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 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 Instrumeut, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the propose of protecting Lender's interest in the Property and rights under this Secnrity Insmunent; and (d) takes such actiou as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borroxver's obligation to pay the sums secured by this Secnrity Instrument, shall continue unchanged. Lender may require that Borrower pay snch 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 draxvn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, fi/is Security Instrument and obligations secured hereby shall remain fidly 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. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (knoxvn as the "Loan Servicer") that collects Periodic Payments due under 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 ~vritten notice of the change which will state the name and. address of the new Loan Servicer, the address to which payments should be ~nade and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced bya Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer aud are not assumed by the Note purchaser mfless otherwise provided by the Note purchaser. Neither Borrower nor Lender may 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 Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Leuder has notified the other party (with such notice giveu in compliance with the requirements of Section 15) of such 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 must 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 demned to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flanm~able or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos'or formaldehyde, and radioactive materials; (b) "Envirolmiental La~v" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Euvironmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Envirmmaental Cleanup. Borrower shall not cause or pernfit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) Which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, WYOMING - Single Fanfily - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DOCUKWYI0 (Pttge 10 of 13 pages) DOCUI~A. VTX 10/17/2002 Form 3051 1/01 494010010 creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the preseuce, use, or storage on the Property of small quantities of Hazardons Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (iucludmg, but not limited to, hazardons substances in consumer products). Borrower shall promptly give Lender ~vritten notice of (a) any investigation, claim, demand, lawsuit or other action by any govenunental or regulatory agency or private party involving the Property and any Hazardous Snbstance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Coudition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition cansed by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Bon'ower learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Bon'ower shall promptly take all necessaly remedial actions in accordance with Enviromnental Law. Nothing hereto shall create any obligation on Lender for an Environmeutal Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Rmnedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Secnrity Instrument (but not prior to acceleration under Section 18 nnless 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 nmst be cured; and (d) that'failure to cure the defanlt on or before the date specified in the notice may result in acceleration of the sums secured by this Security Iustrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a conrt action to assert the non-existence of a defanlt 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 reqnire i~nmediate payment in fldl of ali sums secured by this Secnrity Instrument without further demand and nmy invoke the power of sale and any other remedies permitted by Applicable Law. Lender shall be entitled to collect ali expenses incurred in pnrsning the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender iuvokes 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 sOhl 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, inclnding, but not limited to, reasouable attorneys' fees; (b) to all sums secured by this Security Instrmnent; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all SUlnS secured by this Secnrity Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and Waives all rights under and by virtue of the homestead exemption laws of Wyoming. WYOM[ING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DOCUKWY11 (Page 11 of 13 pages) DOCUKWYB. VTX 10/17/2002 Form 3051 1/01 494010010 BY SIGNING BELOW, B~orrowel)accep~/a~ agrees to the terms and covenants contained in this Security hlstnlnlent and ill any ~~Qy~l~~ ~d with it. - J~ow~ = CH~ ~ HATTER - DATE - WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DOCUK%q'I2 (Page 12 of I 3 pages) nocu~<~c, v-tx xo/~?/~oo2 Form 305~?~. i~' 494010010 [Space Below This Line For Acknowledgment[ STATE OF WYOMING COUNTY OF TETON The foregoing instrument was acknowledged before me by CHERYL ~ HATTER, HUSBAND ~ WIFE WILLIAM AUSTIN HATTER AND this 9TH dayof OCTOBER, 2003 Witness my hand and official seal. Notary Public My Commission Expires: WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DOCUKWYI3 (Page 13 of 13 pages) DOCUKW~D. VTX 6/6/~1002 Form 3051 1/01 04018536 EX}IIBIT "A" Paul N. Schaa)el Idaho ~a~on No, ~t~o ~RLOWE ~ SCHERaEL SUm~O~ Sc~erbel, k~O. ' . ARea, Wyo~n~ 8~0 F~oy, Wyoming DESCRIPTION FOR :~ JOHN VICARI 'II'II.ACT B - AMENDED (2) To-wit: That part of the NE¼NE¼ of Section 26, T36N RI 19W, Lincoln County, ~ part of that tract of record in the Office of the Clerk of Lincoln Cotmty in Photostatic Records on page 195, described as follows: .BEGINNING at a spike on the east line of said NE¼NE¼, N00°-04'054"'¢ fi-om ihe southeast corner, of said NE'A'NEVq thence N89°-26'.00"W, 264,19 feet, to a point; thence N00°-04'-54"W, 289.93 feet, to a point on the north line of said tract of -, (v,-) ~ thence S89 -~7 -03 E, 264.19 feet, along said north line, to tlxe northeast spik cm the east line of said NE¼NE¼; therl.ce ~ ° ' "' SOO -04 -54 E, 290.01 feet, along said east line, to the SPIKE OF BEG ENCOMPASSING an at'ca of 1.76 acres, more or less; 'I"OGETHER with a right of ingress and egress tu~d public utilities over, unde strip of land l'brty (40) feet in width, with the southerly line described as follova~ BEGINNING at a spike or) the etks't line of said NE¼NE¼, N00°-00'- feet fi'om the SOLttheast corner of said NE¼NE¼; /oming, being Book 337 of 538.09 feet, ',cord; of said tract, NNING; mid across a 4"W, 489.09 thence N89°-26'-00"W, 65.00 feet, along thc south line of said tract in position;, look 337, to a SUBJECT to a perpetual easement for all utilities along the north twenty ({0) feet of the above described tract, appurtenant to Tract A - Amended (2) as depicte{ on the plat referenced below; AND SUBJECT to an easement lbr East Ema County Road No. 12-110 and othe~ record; · the BAsE BEAR. ING fbr this survey is the East line of the NE"A of Section 35, '36N R119W, being NORTH; each "corner" found as described in the Corner Record filed or 1o be filed in tl: Office of the Clerk of Lincoln County; each "point" mm'ked by a 5/8" x 24" steel reinfbrcing rod with a 2" almninu "'U ...... m :ap inscribed, S RVEYOR SCHERBk, L LtD BIG PINEY WY PLS 5368", with appropriat~ details; each "spike" marked by a 3/8" x 12" steel spike and referenced with a 5/I;" x 24" steel reinforcing rod with 2" aluminurh cap inscribed, "SURVEYOR SCtlERBI,;L LTD BIG P~[NEY WY PLS 5368", with appropriate details; each "position" is a calculated position with no momanent found or set; all in accordance with the plat prepared to be filed in the Office of the Clerk of Lincoln County titled, "PLAT. TO ACCOMPANY BOUNDARY ADJUSTMENT O? TRACT A: AMEN..D,DED..C~D TRACT B,~i~MlCND~D FOR JOHN VICARI WITHIN T]iE NE¼NE¼ $/E/.Y~/fi~.,~'/~/,36N R.~{V~//~ LN C O1 ~ dated 3 July ).003. 3U "Modification in any way of tho 'fOre r ~~~ ) 'l"R 3 liabJJily o1' the s easements of ~-I 19-2f/John Vir..m', Jrveyor"