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HomeMy WebLinkAbout900611'30"/63 (01) Return To: Major Mortgage 6101 Yellowstone Rd Cheyenne, WY 82009 888-589-9500 Prepared By: 6101 Yellowstone Rd '~heyenne, WY 82009 888-589-9500 LLi'7 [Space Above This Line For Recording Data] MORTGAGE 0001604181 100049200000020161 DEFINITIONS Words used in multiple sections of this 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) "Security Instrument" means tiffs docmnent, which is dated June. 28th, 2004 together with all Riders to thig docnment. (B) "Borrower"is Randy C Taylor and Jerrilyn Taylor, Husband and Wife Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage El,:ctronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee fi,r Lender m~d Lender's successors and assigns. MERS is the mortgagee under this Security Instrument: iV{ERS is organized ,mad existing under the laws of Delaware, and has an address mM telephone number [of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. WYOMiNG-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS (~l®-6 A (W Y) (ooo,).o, v/~~[. 12 Page 1 el 15 Initial ' 91 VM P M OR'[GAGE FORM S - (800)521 7' Form 3051 1101 (D) "Lender" is Major Mortgage Lender is a Wyoming Corporat ~on organized and existing tinder the law~; of The Lender's address is 6101 Yellowstone Rd State of Wyoming LL17, Cheyenne, WY 82009 (E) "Note" means the promissory note signed by Borrower and dated June 28th, 2004 The Note states that Borrower owes 1.ender One Hundred Thirty Thousand and no/100. Dollars (U.S. $ 130,000.00 ) plL~s interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in fidl not later than du 1 y 1 s t, 2 034 (F) "Property" means the property that is described below under ~he heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, mid all sum~ due under this Security Instrument, plus interest. (H) "Riders" ~neans all Riders r.o this Security Instrmnem that are executed by Borrower. The following Riders are to be executed by Bo:','ow~r [check box as applicable]: [~] Adjustable Rate Rider L--~ Cordominium Rider [~ Second Home Rider [] Balloon Rider ~.j Platmed Unit Development Rider [~ 1-4 Family Rider [--] VA Rider ~ Biweekly Payment Rider [~ Other(s) [specify] (I) "Applicable Law" means ,.all controlling applicable federal, state and local statmes, regulations, ordinances mid admilfistrative r,les rnd orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "C0nununity Association. Dues, Fees, ami Assessments" means all dues, fees, assessments and other charges that are imposed on 3orrower or the Property by a condominium association, homeowners association or similar organization. (IQ "Electronic Fumls Transfer" means any transfer of fiinds, other than a transaction originated by check, draft, or sinfilar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magne, tic tape so as to order, instruct, or authorize a financial institution to debit or credit an acconnt. Such term inc.'udes, but is not limited to, p0int-of-sale transfers, autmnated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. " (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" ineans any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condenmation; Or (iv) misrepresentations of, or mnissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means ir. snrance protecting Lender against the nonpayment of, or default on, the Loan. ' (O) "Periodic Payment" means the r.:gularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any mnounts under Section 3 of this Security hlstrmnent. (P) "RESPA" means the Real I~state Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation. X (24 C.F.R. Part 3500), as they might be amended from time to ti~ne, or any additional or successor legislation or regulation that governs the stone subject matter. As used in this Security Instrument, "I~SPA' refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. Inilial$:~ (~6A(WY) (ooo5).01 Page 2 oils Form 3051 1101 (Q) "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 1N THE PROPERTY This security Instrument secures to Lender: (i) the repayment of the Lo,tn, and all renewals, extensions and modifications of the Note; and (ii,) the performance of Borrower's covenants ,'md agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee, for Lender m~d Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located 'in the Lincol.n of County : ]Type of Recording Jurisdiction] [Name of Recording Jurisdiction] See Exhibit "A" attached hereto and made a part hereof. Parcel ID Number: ("Property Address"): 90528 Highway 89 Grover ]City] , which currently has the address of ]Street] Wyonfing 8 312 2 [z ip Code] TOGETHER WITIt all the improvements now or herea£ler 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 ;his Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, inclnding, .t~ut not limited to, the right to foreclose and sell the Property; and to take ea~y action required of hinder including, but not limited to, releasing ,m~d canceling ttfis Security Instntment. BOILROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant arid convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower v/arr,m~ts and will defend generally the title to the Property against all claims and demands, subject to any e.~cumbrances of record. THIS SECURITY INSTRUMENT combines tmiform covenants for national use and non-uniform covenants with limited variatioas by jurisdiction to constitute a unifo.n security instrument covering real property. Initial,; i~e. 6A(WY) tooos).o~ : Paga3o115 ' ' Form 3051 1/01 O:900 ;:I.,Z, '- '- .- 3 70 UNIFORM COVENANTS. Borrower and Lender covenant and agree as followS: 1. Pay~nent of Princip,"l, Interest, Escrow Items, Prepay~nent Charges, and L,ate Charges. Borrower shall pay when due the principal of, and 'interest on, the debt evidenced by the Note and any prepayment charges and late ct arges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Paymer ts due under the Note and this Security Instrument shall be made in U.S. currency. However, if any che,.'k 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 Secui:ity Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b)znoney 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 ageucy, instrumentality: or entity; or (d) Electronic Ftmds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be d,esignated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender ~nay accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refi~se such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Paymen~. is applied as of its scheduled due date, then Lender need not pay interest on unapplied fitnds. Lender inay hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does .~ot do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such fimds will be applied to the outstanding principal balance under the Note i~nmediately prior to foreclosure. No offset.or claim which Borrower might have now or in the future against Lender shall relieve Borrower fi'om making payments due under the Note and this Security Instrumeht or performing the 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 tbllowing order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Poyment in the order in which it became due. Any remaining amounts shall be applied first to late ch~.,xges, second to any other amounts due under this Security Instrument, and then to reduce the principal bal~mce of the Note.- If Lender receives a pay~nent fi'om Borrower for a delinquent Periodic Payment which includes a sufficient mnount to pay any It.re cl~arge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repaymeut of the Periodic Payments if, and lo the extent that, each payment can be paid in full. To the extent that i.any excess exists after the pay~nent is applied to the fidl payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepaym~mt charges and then as described in the Note. Any application of payments, 5nsurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or po,' tpone the due date, or change the amount, of the Periodic Payments. 3. Fumls for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note .:s paid in full, a sum (the "Funds") to provide t'or payment of amounts due for: (a) taxes and assessments &nd other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all ins~z~ance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sur~s payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums iu accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at ar;y time during the term of the Loan, Lender may require that Community Association Dues, Fees, and 2~ssessments, 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 Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Fu'~ds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when ,and where payable, the mnouuts hlillal$; (~-6A(WY)(ooos).o~ Pag~aor~S Form 3051 1101 due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receiFrs evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall fbr all purposes be deemed To be a covenant and agreement contained in this Security h~strnment, ,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 mnount cue for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Bo.:rowe'r 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 m any time by a notice g~ven in accordance with Section 15 ~nd, t~pon 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 time collect and hold Fm~ds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not lo exceed the maximum amount a lender can require under RESPA. Len&r shad estimate the amount of Funds dne on the basis of current data and reasonable esti~nates of expenditur~is of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits ~e insured by a federal agency, instrumentality, or entity (inclndin~ Lender, if Lender ~s m~ institution wbose deposits are so insured) or in any Federal Home Loan Bank Lender shall apply the Funds to pay the Escrow Ite~ns no later than the t~me specified under RESPA. Lender shall not charge Borrower for holding and applying the Fuuds, annually analyzing the escrow account,~ or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law pe~rmits 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 required to pay Borrower any interest or earnings on the Finds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Fnnds 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 tl~e 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 m~der RESPA, Le~der shall -notify Borrower as required by RESPA, and Borrower shall pay to Lender the an~ount necessary to make up the deficiency in accordancs 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 Funds held b7 Len~ler. 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, ~f any, and Conm~unity Association Dues, Fees, and Assessments, if any. To the extent that these items are 2scrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly disctiarge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a maturer acceptable to Lender, but only so long ai; Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforct'ment of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of th: lien'while those proceedings are pending, but only until such proceedings are concluded; or (c) secures t~om t.se holder of the lien an agree~nent satisfactory to Lender subordinating the lien to this Security Instrnment. If Lender deter~nines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the (~)~6 A(W Y) Page 5 o~ 1 5 Inilial~:_~ Form 3051 1101 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 Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Len&~r in cmmection with this Loan. 5. Property Insurance. Borrower 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 including, but nc, it limited 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 requi:-es pursuant to the preceding sentences can change dnring the term of the Loan. The insurance carrie: providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, wlfich right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed .by. the Federal Emergency Management Agency in cmmection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to mairtain my of the coverages described above, Lender may obtain insurance coverage, at Lender's option ;md Borro~ver's expense. Lender is under no obligation to purchase any particular type or amoustt of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrowe-'s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provid,e greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained ]night significantly exceed the cost of insurance that Borrower could have Obtained. 'Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borr,~wer ~secured by this Security Instrument. These amounts shall bear interest at 'the Note rate from the date of disbnrsement and shall be payable, with such interest, upon notice from Lender to Borrower requesting 'oaymznt. · All insurance policies required by Lender and reneWals of such policies shall be subject to Lender's right to disapprove such polic es, 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 requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower oblains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, th~ Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or a~ 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 proce3ds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or rep.air 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 snch insurance 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 prmnptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series ofpr0gress payments as the woi:k 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 such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of thz insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not ~:conomically feasible or Lender's security would be lessened, the iniurance proceeds shall be applied to thf. sums secured by this Security Instrmnent, whether or not then due, with Inilial$:~ (~-6A(WY)¢oos).o] ' p.g~ol~5 Form 3051 1101 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons ths Property, Lender may file, negotiate and settle any available insurance claim and related matters, if Borro~;,er does not respond within 30 days to a notice from Lender that the insurance carrier has offered tc 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, Borrowe~. 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 Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned prmniums paid by Borrower) under all insurance policies covering tlie 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 tl',e Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower 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 princip~il 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 extenuating circtwnstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, dmnage or impair t},.e Property, allow the Property to deteriorate or cornnfit waste on the Property. Whether or not Borrower~is residing in the Property, Borrower shall maiutain the Property in order to prevent the Property )om ~]eteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 tl~at repair or res/oration is not economically feasible, Borrower shall promptly repair the Property if dmnaged to avoid further deterioration or damage. If insur,m~ce or 'condenmation proceeds are paid in cmmection with damage to, or the taking of, the Property, Borrower shall be responsible fbr 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~m~ation proceeds are not sufficient to repair or restore the Property, Bo, rrower is not relieved of Borrower's obligation for the completion of' such repair or restoration. Lender or its agent may ~nake reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may ~nspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of ~r prior to such an interior inspection speci~ing such reasonable cause. 8. Borrower's Loan Applica'ion. Borrower shall be in defimlt 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 Lende: 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 Instrament. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that migl-~t sig~dficantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a p[oceeding 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 al:andoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under ttfis Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien w!fich has priority over this Secur:ity Instrnment; (b) appearing in court; and (c) paying reasonable (~)~-6A(WY) (ooo5).ol Page ? o~ ~ Form 3051 1/01 attorneys' fees to protect its intzrest :n the Property and/or rights under this Security Instrument, including its secured position in a bmd<:uptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make ~epair;, change locks, replace or board up doors and windows, drain water from pipes, eli~nJnate building or other code violations or dangerous conditions, and have utilities turned on or oft: 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 Se"etion 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instru nent. These an~ounts shall bear interest al the Note rate from the date of disbursement and shall be paytble, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrumen: Es on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Le/~der required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage lusurance in effect. If, f6r any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such tnsurance m~d Borrower was required to make separately designated payments toward the prenfiums for Mortgage Insurance, Borrower shall pay the prenfiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cos~ substantially equivalent to the cost to Bo~'rower 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 contir ue to pay to Lender the amount of the separately designated payments that were tine when the insurance cover~ge ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the ~'act that the Loan is ultimately paid in full, and Lender shall not be reqLfired to pay Borrower any i;'aeres:: or earnings on such loss reserve. Lender cm~ no longer require loss reserve payments if Mortgage Insm-ance coverage (in the 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 payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as 'a condition of making ~.he Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premimns required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance e:nds in accordance with any writlen agreement between Borrower and Lender providing for such term;nation or until tertnination is required by Applicable I~aw. Nothing in this Section 10 affects Borrower's obligation to pay itaerest at the rate provided in the Note. Mortgage Insurance reiml~urses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not rer ay tlie Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force frotn time to time, and may enter into agreements with othef 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 n~ay require the mortgage insurer to make payments using any source of funds that the mortgage insu 'er ~nay have available (which ~nay include funds obtained from Mortgage Insurance premiums). As a result of these agreements; Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliatt of m.y of the foregoing, may 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 the premiums paid to the insurer, th': arrangement is often termed "captive reinsurance." Further: (a) Any such agreement~ will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any o'her ti~rms of the Loan. Snch agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refuml. iI~-6A(WY) (ooo~).o~ Page~ o~ Form 3051 1101 (b) Any such agreement? will ~xot affect the rights Borrower has - if any - with respect to the Mortgage Insurance under th'~ Ho~'.~eo~vners 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, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insu~:ance premiums that were unearned at lhe 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, sucl~ Miscellaneous Proceeds shall be applied,to restoration or repair of the Property, if the restoration or re~air is economically feasible ,~d Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender h~s had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that sx~ch inspection 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 agrecmen is mtn. de in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower ,'a~y 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 sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided fo,* in Section 2. In the event of a total taking,-destruction, or loss m value of the Property, the Miscdlaneous Proceeds shall be applied to th~. sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to.. Borrower. In the event of a partial taldng, destruction, or loss in value of the Property in which the fair market value of the Property immediately bc~fore the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrumexxt immediately before the partial taking, destruction, or loss in value, 'unless Borrower and Lender otl~erwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount ot' the Miscellaneous Proceeds multiplied by the following fraction: (a) the total an~ount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market val~e of the Property immediately before the partial taking, destruction, or loss in value. A~y 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 market value of the Property immediately before the partial taking, destruction, or loss in value is less tha~ the amount of the sums secured inarxediztely before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise" agree~in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument wl~ether or not the stuns are then due. If the Property is abandc~ned P~y Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in d~e ne×t sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Le'~der 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 Instrum~nt, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Pr;~ceeds or the party against who~n Borrower has a right of action in regard to Miscellaneous Procee0s. Borrower shall be in defer It if a~y action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in fi~rfeiture of the Property or other material impairment of Lender's interest in the Property or right; under this Security Instrument. 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 judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for d,~nages that are attributable to the impairment ot' Lender' s interest in the Property are hereby assigned and shall be paid t~ 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. ~-6A(WY) (ooos).Ol Page 9 of 15 Form 3051 1101 O j jUt ll 12. Borrower Not Released;iForbearance By Lender Not a Waiver. Extension of the time 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 shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be reqvired to conunence proceedings against any Successor in Interest of Borrcwer or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrmnent by reason of any demand made by the original Borrower or any Successors in lntergst of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower o!' in amounts 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 LiabilL~y; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several, ttowever, any Borrower who co-signs this Security Instrum~nt b~ut does not execute the Note.(a "co-signer"): (a) is co-signing this Security Instrument only to mci'tgage, 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 sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security lnstrnment or the Note without the co-signer' s consent. Subject to the provision'~ of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under tl~is Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and be'mfits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument 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 succ :ssors and assigns of Lender. 14. Loan Charges, Lender may'charge Borrower fees for services performed in connection with Borrower's default, for the propose'of protecting Lender's interest in the Property and rights under 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 Instrmnent 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 prohibite,.] by this Security Instrument 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 connection with the Loan exceed the permitted limits, then: (a) any such'loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitled limits will be refunded to Borrower.. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a~ partial prepayment without any prepayment charge (whether or not a prepayment charge is provided.for nnder the Note). Borrower's accept,xnce of any such refund made by direct payment to Borrower wil} constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices, All notices given 'by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice '~o Bcrrower in connection with this Security Instrument shall be deemed to have been given to Borrower wl'~en'mailed by first class mail or when actually delivered to Borrower's notice address if sent by other mean~'. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly re.~uires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute 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 through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be givmi by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender bas d:signated another address by notice to Borrower. Any notice in histr urnent not Com~ection with this Security ' ' shall be deemed to have been given to Lender until actually received by Lender. If any not!ce r¢'quired by this Security Instrmnent is also required under Applicable Law, the Applicable Law req~'firement will satisfy the corresponding requirement under this Security Instrument. (~-6A(WY) (ooo~).o~ '., Page 1o el 15 Form 3051 '~101 16. Governing Law; Severaafility; 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 Secur, ity Instrmnent are subject to any requirements and limitations of Applicable Law. Applicable Law rnJght explicitly or implicitly allow the parties to agree by contract or it migh! be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clatise of this Security Instrumeut 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 p.rovision. As used in this Security Instrnment: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and inchide the plural and vice vertsa; a~.d (c) the word "may" gives sole discretion without any obligation to take any action. ~ ,. . 17. Borrower's Copy. Borrowe~r 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" meanx any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests traasferred 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 fi~ture date to a purchaser. If all or any part of the Proper(:/or m~y Interest in the Property is sold or tr,'msferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or lrm~sferred) without Lender's prior written consent, Lender may :equire immediate 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 idays from the date the notice is given in accordance with Section 15 within which Borrower must pay all stuns secured by this Security Instrument. If Borrower Pails to pay these sums prior to the expirvtlon of this period, Lender xnay invoke any remedies permitted by this Security lnstrtanent without fur';:her notice or demand on Borrower. 19. Borrower's Right t6 Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right .o haOe enforcement of tlfis Security Instrument discontinued at any time prior to the earliest off (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 ternfination 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 stuns 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 purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasbnably require to assure that Lender's interest in the Property and rights under this Security Instrt ment, and Borrower's obligation to pay the sums secnred by this Security Instrument, shall continue unckanged. Lender ~nay 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 reinstate.,nent by Borrower, this Security Instrulnent and obligations secured hereby shall remain fi, lly 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 (known as the "Loan Servicer") that collects Periodic Payments due under lhe Note and this Security Instrument and perlbrms other mortgage loan servicing obligations under the Note; lhis Security Instrmnent, and Applicable Law. There also might be one or more changes of the Lo~n Ser¢icer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be giveu writ:ten notice of the change which will state the name and address of the new Loan Servicer, the addres.~ to which payments should be made and any other information RESPA ~-6A(WY)(ooos).o~ Pao.~o~,~ Form 3051 tl01 0.90O requires in connection with anc, tice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other tl~an 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 and are not assumed by the Note purchaser t.nless otherwise provided by the Note purchaser. Neither Borrower nor Lender may co~nmence, 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 alleg~s tk'at the other party has breached any provision of, or any duty owed by reason of, this Security InstrUment, hntil such Borrower or Lender bas notified the other party (with such notice given 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 ti~ne period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportm~ity to cure given to Borro~ecer pnrsuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 sh/~ll be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in tiffs Section 21: (a) "Hazardous Substances are those substances defined as toxic or hazarc':ous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kercsene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents,' materials containing asbestos or formaldehyde, and radioactive materials; (b) "Envirormaental Law" ~neans :federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environm6ntal protection; (c) "Environmental Cleanup" includes any response action, remedial action, or reme, val action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that: can cause, contribute to, or otherwise trigger an Enviromnental Cleanup. Borrower shall not cause o' pe[mit 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, an?thing affecting the Property (a) that is in violation 'of any Envirmnnental Law, (b) which creates an Enviri)nmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply ~'~ the presence, use, or storage on the Property of small quantities of Hazardous Substances that are ~;enerally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products).. Borrower shall promptly giye Lender written notice of (a) any investigation, claim, demand, lawsuit or other action by any governmental 'or regulatory agency or private party involving the Property and any Hazardous Substance or 'Envi[onmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release Of any Hazardous Subst~mce, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adw:rsely affects the value of the Property. If Borrower learns, or is notified by any governmental or regnlat~ry authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance :vith Enviromnental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanul:. (~6A(WY) (ooos).o~ Page 12 of 1 5 tnilials:~ Form 3051 1101 NON-UNiFORM COVE}tANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower l]rior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default tnust be cured; and (d) that failure to cure the default on or before the date specified itl the notice may result iu acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall furlher infor~n Borrower of the right to reinstate after accele~iitiot~ and the right to bring a court action to assert the non-existence of a default or any other defens,~ of Borrower to acceleration and sale. If the default is not cured on or before the date specified io the nolice, Lender at its option may reqnire i~nmediate payment in full of all snms 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 Yemedies provided in this 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 manner prescribed by Applicable Law. Lender or its designee may purchase the Property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' fees; (b) to ~.dl sums secured by this Security 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 Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee lbr releasing this Security Instrument, bat only if the fee is paid to a th/rd 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. (~-6 A (W Y) (ooos).o ~ Page t3 o!15 nllial$-~l Form 3051 1101 ~ ' .' '.:3 .... BY SIGNING BELOW, B~rrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Kider executed by Borrower and recorded with it. Witnesses: Ra ~ d~t'~#'~ a y 1 o ~- ~ -Borrower (Seal) -Borrower (Seal) (Seal) -Borrowm -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (~)~;6 ^(WY)(o0os).o~ Page 14 o! 15 Form 3051 1/01 STATE OF WYOMING, The foregoing instrument was acknowledged before me this by Randy G Taylor and Jerrilyn Taylor Lincoln June 28th, 2004 County ss: My Commission Expires: ~- 1 ~" ~200 ~5y (~)~-6 A(W Y)(ooos).ot Inllial$.~~ Page ! 5 og 15 Form 3 0 5 1 11Ol SECOND HOME RIDER 0001604181 THIS SECOND HOME RIDER is made this 28th day of June 2004 , and is incorporated into and shall be deemed to amend ,'md supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the stone dale given by the undersigned (the "Borrower" whether there are one or more persons undersigned) to secure Borrower's Note to Major Mortgage (the "Lender") of the same date and covering the Property described in the Security Instrument (the "Property"), which is located at: 905~28 Highway 89, Grover, Wy 83122 [Property Address] In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree that Sections 6 and 8 of the Security Instrument are deleted and are replaced by the following: 6. Occupancy. Borrower [hall occupy, and shall only use, the Property ,ns Borrower's second home. Borrower shall keep the Property available for Borrower's exclusive use and enjoyment at all times, and shall not subject the Property to any timesharing or other shared ownership arrangement or to any rental pool or agreement that requires Borrower either to rent the Property or give a management firm or any other person any control over the occupancy or use of the Property. 8. Borrower's Loan Applfcation. 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 knowledge or consent gave materially false, nfisleading, or inaccurate information or statements to Lender (or failed to provide Lender with material inlbrmation) in connection with the Loan. Material represe.ntations include, but are not li~nited to, representations concerning Borrower's occupancy ofth~ Property as Borrower's second home. MULTISTATE SECOND HOME RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM IqSTRUMENT Page 1 of 2 0~-365R (0011) VMP MORTGAGE FORMS - (800)521-7291  8~9 0 110~ Initials:~~ BY SIGNING BELOW, Second Home Rider. BOrrower accepts and agrees to the terms and provisions contained in this (Seal) - Borrower (Seal) (Seal) - Borrower - Borrower __ (Seal) (Seal) - Borrower - Borrower __(Seal) (Seal) - Borrower - Borrower (I~}~;3 6 5 R (oot t) Page 2 of 2 Form 31190 1101 EXttIBIT "A" A tract of land lying in the NW1/4$E1/aii~.of Section 32, T33N R118W of the 6th P.M., Lincoln County, Wyoming and more particularly described as follows: BEGINNING at a point whidh is 'North, 2279.47 feet and West 1823.00 feet from the Southeast corner of said Section 32 and proceeding thence East, 291.10 feet; thence N 41034' W, 200.00 feet; thence West, 291.10 feet; thence S 41°34, E, 200.00 feet alorg U.S. Highway 89 Right-Of-Way to the POINT OF BEGINNING