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HomeMy WebLinkAbout900825 RECEIVED LI',.CTM.. .., 1. C,:}ltI'4TY CLERK [Space Above This Line For Recordino MORTGAGE DEFINITIONS Words used in mnltiple sections of this docmnent are defined below and other words are defined in Sections 3, 11, 13, 20 and 21. Certain rules regarding the u. sage Of words used in this document are also provided in Section 16. (A) "Secnrity Instrument" means this docmnent, which is dated ........................ 0.?:0..2:2..0p.4. ........................ together with all Riders to this document. (B) "Borrower" is FRANK E. MAGEE Ill and HELEN MAGEE HUSBAND AND W FE Borrower is the mortgagor under this Se~zurity Instrument. (C) "Lender" is .T.H.[. .13fi~.K..0.F..S.I.~..R..V.~.L.L.[Y. ...................................................................................................... ...................................................................................................................................... Lender is a .C.0. r.p. qr.a.t!qn. ......................................................................................... organized and existing under the laws of .tk~.~.t.a.t.~' .o!.W.y.o.m.!n.~ ........................................................... Lender's add tess is .3.8..4..W.~..SH.I.N~..19~ .s.I..R.[[.T..P.O..R.qX..~..0p.~ ..... riFT.ON..WY. 83110 ....................................................... Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by Borrower and dated P./.-P2-ZtIO4 ............................... The Note states that Borrower owes Lender Dna hundred fifty thr~e thousand and no/100 ................................................. Dol.ars (U.S. $ J5.3. 0.0.0..00. ......... ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in t~ll not later than .0.6.-Z.0.-;~.0.q~ .................................... (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (F) "Loan" ]neans the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Secnrity Instrmnent, plus interest. (G) "Riders" means all Riders to this- Security Insu'ument that are executed by Borrower. The following Riders are [o be execnted by Borrower [check box as applicable]: [] Adjustable Rate Rider [] Condominium Rider [] Second Home Rider [] Balloon Rider [] Planned Unit Development Rider [] Other(s) [specify] ...................... [] 1-4 Family Rider [] Biweekly Payment Rider (H) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final non-appealable judicial opinions. (I) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are i~nposed on Borrower or the Property Lya condominium association, homeowners association or sinfilar organization. (J) "Electrouic Funds Transfer'' means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is imtiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authc'rize a financial institution to debit or credit an account. Such term inclndes, but is no[ limited to, point-of;sale transfe':s, automated teller machine transactions, transfers initiated by telephone, wtre transfers, and automated clearinghouse transfers. (K) "Escrow Items" means those items that are described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other'than insurance proceeds [:aid under the coverages described in Section 5) for: (i) damage to, or destrucUon of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. ' (M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of or default on, the Loan. ' (N) "Periodic Payment" means the relgularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (O) "RESPA" means the Real Estate Set:lement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R.. Part 3500), as they might be amended from time to ii,ne, or any additional or successor legislation or regulation thz. t governs the same subject matter. As used in this Security Instrumenl, "RESPA" refers to all requirements and restrictionS; tha~. are imposed in regard to a "federally related mortgage loan" even if thc Loan does not qualify as a "federally related mortgage loau"under RESPA. - - (P) "Successor in ~nterest 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 Instrnment TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument 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 agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of sale, the following described propc:rty located iii the [.[N..C.0.t.N. .............................................................. of IType of Recording durisdictionl WYOMING [Name of Recording Jurisdiction] SEE SCHEDULE A ATTACHED HERETO AND MADE APART HEREOF WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT I~ankets Syst~ll'*s, Inc., SI. Cloud, MN Fofrrl MO-I-WY 812112000 tel: 112001 (.page I of 7pages) Form 3051 1/01 CB4A.O which currently has the address of .6..6(..5..S.T.A. LE..HJG..H.W..A.Y..2.3..8. i ....................................................................... ~ ....... ,' ; {Street] ..A~I}..tJ.I~N. ...................................... , ..................... Wyoming ..~.3.t!l .................................("Property AddreS's"): ICily] , [Zip Code] TOGETHER WlTIt all the improvements n0w or herealier erected on the property, and all easements, appurtenances, and fixtures now or N]reafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the fureg0ing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except lbr encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, snbjecl to any encumbrances of record· THIS SECURITY INSTRUME,qT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to conttitute.a uniform security instrument covering real property· UNIFOILM COVENANTS. B(;rrowcr and Lender covenant and agree as follows: 1. Payment of Principal, lntt~rest, Escrow Items, Prepayment Charges, and La~e Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds tbr Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security 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 ~nore of the following Ibrms, 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 npon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Fnnds 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 m accordance with the notice provisions in Section 15. Lender ~nay return any payment or partial payment if the payment or partial payments are insnfl'icient to bring the Loan current· 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 nayment 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 Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied fUnds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does :not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to Ibreclosure. No offset or claim which Borrower might have now or in Ihe furore against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or pertbrming the covenants and agreemeSts 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 applie~l in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due und~.:r Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining ,amounts shall be applied first to lale charges, second to any other amounts due under this Security Instrument, and then to reduce ]he principal balance of the Note· If Lender receives a payment 1'rom Borrower for a delinquent Periodic Payment which includes a snfficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more titan one Periodic Payment is outstanding, Lender mW apply any payment received from Borrower to the repayment of ]he Periodic Payments if, and to the extent that, each payment can be paid in full. 'Fo the extent that any excess exists after the payment is applied to tire full payment of on,~ or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applie'J first to any prepayment charges and then as described in the Note. Any application of payments, : insurance proceeds, or Miscellaneous Proceeds lo principal due tinder the Note shall not extend or postpone the due date, o': change the a~nonnt, of tire Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide fur payment of amounts due for: (a) taxes and assess~nents and 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 insurance required by Lender tinder Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage InsUrance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may reqnire that Conmmnity Association Dues, Fees, and Assessments, if any, be escrowed' by Borrower, and such dnes, tkes and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid uuder this Section. Borrower shall pay Lender the Funds for Escr6w Items u~ess Lender waives Borrower's obligation to pay the Funds lbr 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 o~y be in writNg. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow .Items for which payment of Funds has been waived by Lender and, if Lender requires, shall ~r~sh to Lender receipts evidencing suc~ payment within such t~e period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contaNed in this Security Instrument, as the phrase "covenanl and agree~nent" is used in Section 9. If Borrower is obligated to pay Escrow I~ems directly, pursuant to a waiver, and Borrower l~ils to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amo~nt. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Fnnds, and in such amounts, that are then required t~nder t~is Section 3. Lender may, at any t~e, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under ~SPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall est~ate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of ~ture Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Ban~. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under ~SPA. Lender shall not charge Borrower tbr holding and applying the Funds, a~ually analyzing the escrow account, or veri~ing the Escrow Items, unless Lender pays Borrower interest on tt~e Funds and Applicable Law permits Lender to mak~ such a charge· U~ess an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required 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 shall give to Borrower, without charge, an annual accounting of the Funds as required by ~SPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for tim excess ~nds in accordance with RESPA. I;f there is a shortage of Funds held in escrow, as defined under I~SPA, Lender WYOMING- Single Family-Fannie Mae{Freddie Mac UNIFORM INSTRUMENT Form 3051 1101 fl~nkers Systems, inc.. St. Cloud. MN Form MD-l-W? 8121/2 ~O shall notify Borrower as required by RESP^i, and Borrower shall pay to Lender the amount necessary to make tip the shortage in accordance with RESPA, bat in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lent'er shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the det;ciency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in thll of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower si~all pay all taxes, assessments, charges, fines, and impositions attributable to the ProPerty which carl attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow ltelns, Borrower shall pay them in the maturer [rovided in Section 3. Borrower shall promptly discha?ge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the 'sbligatiion secured by the lien in a maturer acceptalSle to Lender, but only so long as Borrower is perlbrming such agreement; .(b) Contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures/'rom the holder of the lien an agreement satisfactory to Lender subordinating the lien to this :Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Seeurity 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 lbrth 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 Lender in connection with this Loan. 5. Property Insurance. Borrov, er 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 auy other hazards including, but not limited to, earthquakes and floods, for x/hich Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and fe.r the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in ~,onnection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge lbr flood zone determination and certification services and subsequent charges each time :emappings or similar changes occur wlfich reasonably might affect such determination or certification. Borrow(~r shall also be responsible for the payment of any lees imposed by the Federal Emergency Management Agency in connection with the review of any llood zoue determination resulting from an objection by Borrower. If Borrower fails to maintahr any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Louder is under no obligation It) purchase any particular type or amount 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 Properly, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borro~ver acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurante that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt Of Bori'ower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, wilh such interest, upon notice from Lender to Borrower 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 sta::~dard 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 obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage 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 e. conomically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have lhe right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work hasTbeen completed to Lender's salisl:action, provided that such inspection shall be undertaken promptly. Lender may d'.sburse 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 such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of tile insurance proceeds and shall be the sole obligatioa of Borrower. If the restoration or repair is not economically 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 within 30 days to a notice frown Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Prop~:rty under Section 22or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts tmpaid tinder the Note or this Security Instrument, and (b) any other of Borrower'~i rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies coveri'~g the Property, insohr as such rights are applicable to the c6verage 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. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days ariel' the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the' date Of occupancy, unless Lender otherwise agrees in Writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance hnd Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow thc ProFerty to deteriorate or commit waste on lhc Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property frown deteriorating or decreasing in value due to its condition. 'Unless it is determined pursuam to Section 5 that repair or restoration is not economically feasible, Borrower shall '2romptly repair the Property if damaged to avoid further deterioration or damage. If insurance or conde~m~ation proceeds~ are paid hr connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or regtbring 'the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs ai:~d resk)ration 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. WYOMING - Single Family - Fannie Mae/Freddie M~c UNIFORM INSTRUMENT Bankers Systems. Inc., $1. Cloud, MN Form MD-l-WY 8/2112000 (page 3 of 7pages) Form 3051 1/01 lu8 Lender or its agent may make reasonable entries upon and inspections of tbe Property. hr' it has reasonabl~ canse, Lender may inspect the interior of th~: iznprpvernents on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection speC~ifying such reasonable cause. 8. Borrower's Loan Applicatiun. Borrower shall be in default if, during the Loan applicatinii process, Borrower or any persons or entities acting at tl;ie dJrli':ction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate inf6rmatlion or statements to Lender (or failed to provide Lender with material information) in coimection with the'!' Loafi. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Pro)erty as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and ag!~eements contained in this Security lnstrmneut, (b) there is a legal proceeding that might significantly affect Lender's i~ntere~t in the Property and/or rigbts under this Security Instrument (such as a proceeding 'in bankruptcy, probate, fi:,r condenmation or forfeiture, for entbrcetnent 'of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reaso[~able or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecring' 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 lieu which has priority over this Security Instrument; (b) app~:~aring in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Ihstrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not lhnited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliininate 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 tbr not taking any or all actions authorized under this Section 9. 'Any amounts disbursed by Legder nnder 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 Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.. · 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, lbr any reason, the Mortgage Insurance coverage required by Lender ceases to be a,Yailable from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums lbr Mortgage Insurance, Borrower shall pay the premiums required to obtain ci0verage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to th: cost to Borrower of the Mortgage Insurance previously in effect, t¥otn an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lend~:r wil. i'[ 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 fact that the Loan is ultimately paid in full, and Lender shall not be requireid to pay Borrower any interest or earnings on such loss reserve. Lender can IlO longer require loss reserve payments if Mortgage Insurance coverage (in the atnount and t(~r the period that l~ender · 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 the Loan and Borrower was required to make separately designated payments toward the premiums Mortgage Insurance, Borrower shall pay th~ premiums required to maintain lvlortgage Insurance in effect, or to provide a non-refundable loss reserve, until L:nder s requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it znay iucur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their toltal 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 terms and conditions that are satisfactory to the mc:,rtgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage, insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreement!, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregt)ing, may receive (directly or indirectly) alnounts that derive from (or might'be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing 13sses. If such agreement provides that an affiliate of Lender takes a share of 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 agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not iucrease the amonnt Borrower will owe for Mortgage Insurance, mid they will not entitle Borrower to any rebind. (b) Any such agreements will not affect the rights Borrower has--il' any--with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to i'eqUest aQd obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mm',gage Insurance prendums that were unearned at the time of such cancellatiou or termination. 11. Assignnlent of Miscellan,eouS proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satishction, provided that such 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. [Jnless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the 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 for in Section 2. In the event of a total taking~ destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrmnent, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking}, des~iruction, or loss in value of the l'roperty in which 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 the sums secured by this Security Instr~ment inm~ediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agrees in v!~riting, the sums secured by this Security Instrument shall be reduced by the WYOMING - Single Family-Fannie Mae/Freddie'Mac UNIFORM INSTRUMENT Form 3051 1/01 amount of the Miscellaneous Proceeds mfiltiplied by the following fraction: (a) the total amonnt of the sums secnred immediately before the partial taking', destlruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, ,lestrui:tion, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, des:!ruction, or loss in value of the Property in which the fair market valne of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, de:i;truction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds.shall be applied to the sums secured by this Secnrity Instrmnent whether or not the sums are then due. :, If the Property is abandoned W Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the l'roperty or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third pa;ty that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to MiscHlaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's jndgment, could result in forfeiture of the Property or other .material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a defauh and, if acceleration has occurred, reinstate as provided in Section 19, by causing ~he 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 tbr damages lhat arc attributable to the impairment of' Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are:not applied to restoration or repair oi' the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Releasedi Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums isecured 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 required tO commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or.otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the 'original Borrower or any Successors in Interest of Borrower. Any tbrbcarance by Lender in exercising any right or remeds: including, without limitation, 1.ender's acceptance of payments from third persons,.entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or re~nedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liabilitYl shall! be joint and several, llowever, any Borrower who co-signs this Security Instrument 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 the sums secured by [his Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make ~ny ac,,:ommodations with regard to the terms et' this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Sectionil8 any Successor in Interest of Borrower who assumes Borrower's obligations nnder this Security Instrument in writing, 'and is approved by Lender, shall obtain all of Borrower's rights and benefits nnder 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 proviaed in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in com~ection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, propmty .inspection and valuation fees.'in regard to any other fees, the absence of express authority in this Security lnstrmnent to charge a specific Ice to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may no: charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law wh?ch sets maximum loan charges, and that law is final.ly interpreted so that the interest or other loan charges collecte'd or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduc~.d by the amount necessary to rednce the charge to the pemfitted limit; and (b) any sums already collected from BOrrower whifih exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will 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 Secm'ity Instrument must be in writing. Any notice to Borrower in conn~.ction with 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 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 procednre. There may be only one designated notice address under this Security Instrmnent 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 unless Lender has designated another address by notice t£' Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until:actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; ~Rnles of Construction. This Security Instrument shall be governed by federal law and tlie law of the jurisdiction iii whioh the Property is located· All rights and obligations contained in this Security lnstrmnent are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by ~ontract or it might be silent, but such silence shall not be construed as a prohibition against agreement by con(fact. In the event that any provision or clause of this Security Instrtunent 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 conflicSng p~ovision. As used in this Security Instrument:.: (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 include the plural and vice versa; and (c) the word "may" gives sole discreti.)n without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given One copy of the Note and of this Security Instrument. 18. Transfer of the Propert.,, or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial irlterest in the Property, including, but not limited to, those beneficial interests WYOMING -Single Family-Fannie Mae/Freddie!,Mac UNIFORM INSTRUMENT Fo*m 3051 1/01 Ilanket$ Systems, lac,, SI. Claud, MN form MD-l-WY 812112C'00 (page 5 of 7pageO __ transferred in a bond for deed, contractl.fOr deed, installment sales contract or escrow agreement, the intent of which is thd transfer of title by Borrower at a future date to a purchaser. If all or any part of the Prope:':'ty or:any Interest in the Property is sold or transferred (or if Borrower il not a natural person and a beneficial interest in BorroWer is sold or transferred) without Lender's prior written consent, Lender., may require inmlediate payment in fitllI of all sums secured by this Security h~strument, ltowever, this option shall not be exercised by Lender if such exerciseis [rohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date .~he notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument; If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permit'*.ed by:this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate Aller 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 hxstrument; (b) snch other period as Applicable Law might specify tbr the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security h~strument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Iustrument and the Note as if no .::icceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security lustrmnent, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred l-or thc purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrament, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in om: or more of the tbllowing tbrms, 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 inslitution wtiose deposits are insured by a federal agency, instrumentality or entity; or (d) El~ctronic Funds Transfer. Upou reinstatement by Borrower, this Secnrity Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan.Servicer; Notice of Grievance. 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 the Note and this Security Instrument and perlbrms othm-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 I~e given written notice of the change which will state the name and address of the new Loan Servicer, the address tr .which payments should be made and any other iht'urination RESPA requires in connection with a notice of transfer of servm~ng. If the Note ~s sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the niortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by thc Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may c0minence, 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 Lender has 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 prc,vides a time period which must elapse before certain action can be taken, that time period will be deemed to be reas0nable.lfor purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and oppor:tunity 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, br wastes by Environmental Law and the following' substances: gasoline, kerosene, other flammable or toxic petrolqum products, toxic pesticides and herbicides,, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means'federal laws and laws of the jurisdiction where the Property is located~ that relate to health, safety or enviromnental protection; (c) "Enviromncntal Cleanup" includes any response action, retnedial action, or removal action, as defined in Enviromnental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental ' Cleanup. Borrower shall not cause or permit the presence, use; disposal, storage, or release of any }lazardous Substances, or threaten to release any Hazardous Snbs. tances, 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 Enviromnental Condition, or (c) which, due to the presences, 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 to the presence, use, or storage on the Property of small quantities of Hazardous Stibstances that are generally 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 give 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 auy Hazardous Substance or Environmental Law of which Borrowei' 'has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a H'~zardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmentalI or regulatory authority, or any private party, that any reatoval or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. I,ender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreemefit in fids 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 ~0 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure tl!e default on or before the date specilied in the notice may result in acceleration of tbe sums secured by this. Security Instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require itmnediate payment in full ol' all sums 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 iii pursuiug the remedies provided in this Section 2:g, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes tlie power':of sale, Lender shall give notice of intent to foreclose to Borrower and to the person in possession of the Property, if difI.erent, in accordance with Applicable Law. Lender shall give notice of the WYOMING - Single Family - Fannie Mae/Freddie IVac UNIFORM INSTRUMENT Form 3051 1/01 Rankems Systems. Inc., St. Cloud, MN Fo/pa MD-l-WY 8~2112000 (.,O(J,['e 6 oJ- 7pa&,es) __ sale to Borrower in the manner provided 'in Section 15. Lender shall ptJhlish the notice of sale, and the Property shall h'~ sold in the manner prescribed by Applicable Law. Lender or its designee nmy lmrcbase the Property at any sale. The proceeds of the sale shall I~e app;ied in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable attorneys' :tees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persmrs legally entitled .o 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 for releasing this Security Instrument, but only if the fee is paid -o a th~4d 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 vmue of the homestead exemption laws of Wyoming. BY SIGNING BELOW. Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by. Borrower and recorded with it. [3pace Below This Line For Acknowledgment] ............ .//.. (....L6UV& ........... County ss: STATE OF WYOMING ........... ~ ....... el ..................... The foregoing instrument was acknowiedged before me this . p.I...0.~-2.qQ¢ ....................................................... (date) by F..R.A.N..K.E....~..A.I].E.E. )lJ; .H.E.L.E..N..M.A..fi.E.E,..H.U.S.B..A.N..fi.A..N.D..W.I.~.E ............................................................................................ (person acknowledging) My coxnmission expires: 3~{~f ~0 ~ .~ ' - / No'tary Public WYOMING - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Bankers Systems. hm.. St. Cloud. MN Fom~ MD-I-WY 812112000 · Form 3051 1/01 ~age 7of7p,gesj PAYMENT RIDER THIS PAYMENT RIDER is made this ..2.n.a ............... day of' ..J.ul.Y,.2.0.9.'} ....................... and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned Cthe Borrower") to secure Borrower's Note to . .T.H.E..BA..N.K. 0.F.S..I.AR. VALLEy .3B.4..W.AS.H!N..G.I.O.N..S.I..R.E.[.I, .P.O..B.0..X.8. O.O..7, .A.F.I.0..N,. WY 831 lO ......................................................................................................... ("the Lender") of the same date and covering the property described in the Security Instrument and located at: 6645 STATE HIGHWAY 238. AUBURN, Wf 83111 [Property Address] ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. PERIODIC PAYMENTS OF PRINCIPAL AND INTEREST The Note provides for pe',riodic payments of principal and interest as follows: 3. PAYMENTS · (A) Periodic Payments I will pay principal and interest by making periodic payments when scheduled: [] I will make ' pay~nents of $ ........................ · ............................ each on the of each . ........ : .................. i. ' beginning on .............................................................. [] I will make payments as foilows: 23 monthly payments of ~915.90 beginning 07.20-2004. [] In addition to the payments described above, I will pay a "Balloon Payment" of $ . 149.!40..7! . . ~. on .9.~:2.°.:2.99.6 .............................................. The Note Itolder will deliver or mail to me notice prior to maturity that the Balloon Payment is due. This notice will state the Balloon 'Payment amount and the date that it is due. (B) Maturity Date and P, lace of Payments I will make these payments as schedUled until I have paid all of the principal and interest and any other charges described below that 1 may owe under this Note. My periodic payments will be applied to interest before Principal. If, on . 9.6.-79:2.o.9.6 ..................................... I still owe amounts under'this Note, I will pay those amounts in full on that date, which is called the "Maturity Date." MULTIPURPOSE FIXED RATE PAYMENT RIDER (MULTISTATE) ~anke*s Sysloms, Inc., St. Cloud, ~dN Form M ~FR-PR ~1/6/2OO3 ~'ef: MPFR-MN (page I of 2 pages) 113 I will make my periodic payments at .¢P.4.~.g~HJ.~¢.T.0.~.~TBI!I!L.SF. TON..~v.Y. P3.1J.q ............................... ........................................................ or at a different place if required by the Note }tolder. [] B. FUNDS FOR TAXES AND INSURANCE Uniform Covenant 3 of the Security Instrument is waived by Lender. BY SIGNING BELOW, Borrower accepts {0nd a~[ees to the terms and covenants contained in this Payment Rider. ~' '~~'~ ~,, ~,,,t,. HELEN MAGEE I~ankets Systems, lnG., SL Cloud, MN Form Ivl~FIt-PR 81612003 Ipage 2 ol 2 pagesl o 114 SCHEDULE "A" That part of tt.e SE~SE~ of Section 16, T32N Rll9W of the 6th P.M., Lincoln County, Wyoming being part of that tract of record in the Office of the Clerk of Lincoln County in Book 379PR on page 282, and all of that tract of record in Book 387PR on pag'e 46 described as follows: Beginning at the northwest corner of said SE~SE~, within the bounds of Wyoming State Highway 238 and running thence N 89°30~19'' E, 552.18 feet, along the north line of said SE~SE~, to a point; thence S 00002'29'' W, 193.62 feet, along an existing fence line, in part, to a point; thence S 88°43'53'' W, 551.87 feet to a point on the west line of said SE~SE~, within the bounds of said Highway 2~8; thence N 00°04'57'' W, 201.07 feet, along said west line, to the CO~[NER OF BEGINNING.