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HomeMy WebLinkAbout904646RemmTo: WELLS FARGO HOME MORTGAGE 3601 MINNESOTA DR. SUITE 200 BLOOMINGTON, MN 55435 0777 Prepared By: WELLS FARGO BANK, N.A. 1919 DOUGLAS,, OMAHA, 681010000 NE RECEIVED 11/17/2004 at 10:16 AM RECEIVING # 904646' BOOK: 572 PAGE: 777 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY [Space Above This Lh~e For Rec,.,ling Ii.la] MORTGAGE 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 file usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated NOVEMBER 12, 2004 together with all Riders to this document. (B) "Borrower" is CLINT L MULLENDORE AND CALLY d MULLENDORE, HUSBAND AND WIFE Borrower is the mortgagor under this Security Instrument. (C) "Lender" is WELLS FARGO BANK, N.A. Lender is a NATIONAL ASSOCIATION organized and existing under the laws of THE UNITED 0046244422 STATES WYOMING-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3051 1/01 ,- :.- 0778 Lender's address is P.o. Box 10304, DES MOINES, IA 503060304 Lender is the mortgagee under this Security Instrument. (D) "Note" means the promissory note signed by Borrower ,mi datcdNOVEMBER 12, 2004 The Note states that Borrower owes Lender ONg HUNDR~..D THIRTY SIX THOUSAND FOUR HUNDRED AND 00/100 Dollars (U.S. $ ***'136,400.00 ) plus interest. Borrower h:ts ira)raised to pay this debt in regular Periodic Payments and to pay the debt in full not later than DI~.CEMBER 01, 2034 (E) "Property" means the property that is described belou trader thc heading "Transfer of Rights in the Property." (F) "Loan" means the debt evidenced by the Note, plus interest any prepay~nent charges and late charges due under the Note, and all sums due under this Security Inst~ umcnt, plus interest. (G) "Riders" means all Riders to this Security Instrument th:t/ arc executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable I: [--] Adjustable Rate Rider ~-] Condominium Rider [~D Second Home Rider ~ Balloon Rider ~] Planned Unit Development I~idc.' [~ 1-4 Fa~nily Rider [--] VA Rider [--] Biweekly Payment Rider [~ Other(s) [specifyl (It) "Applicable Law" means all controlling applicable L'dcr',l, state and local statutes, regulations, ordinances and administrative rules and orders (that have thc el'loot of law) as well as all applicable final, non-appealable judicial opinions. (1) "Community Association Dues, Fees, and Assessments" ~.c:ms all dues, fees, assessments and other charges that are imposed on Borrower or the Property bx a cmMonfi~fium association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of l't~l~tls, other than a transaction originated by check, draft, or similar paper instrument, which is initiated dmmgh an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, m' authorize a financial institution to debit or credit an account. Such term includes, but is not limited ,~. p{fint-of-sale transfers, autonmted teller- machine transactions, transfers initiated by telephone, u irc transfers, and automated clearinghouse transfers. (14) "Escrow Items" means those items that are described in Scctim~ 3. (L) "Miscellaneous Proceeds" means any compensation, sctdc.|c,t, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under thc coverages described in Section 5) for: (i) damage to. or destruction of. the Property; (ii) condenmati~m m- other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) ~,isrcprcseutations of. or omissions as to, the value and/or condition of the Property. (M) "Mortgage Insurance" means insurance protecting LemL'r against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled anlomtl duc fi}t' (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security l~slrt.nc,t (O) "RESPA" means the Real Estate Settlement Procedures ,\ct t12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 35(1(b. as they might be amended from time to time, or any additional or successor legislation or regulation thai governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requiremems and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan docs .,~t qualit'y as a "federally related mortgage loan" under RESPA. (~-6{WY) moos) Page 2 of ~s Form 3051 1/01 .... ' 077 (P) "Successor in Interest of Borrower" means any party th:il has taken title to the Property, whether or not that party has assumed Borrower's obligations under thc N, tc and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment ,~ thc Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borr,~x~cr's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower th~cs hereby mortgage, grant and convey to Lender and Lender's successors and assigns, with power of s:~tc, the fi)llowing described property located in the COUNTY of LINCOLN : [Type of Recording Jurisdiction] l Name of Recording lurisdiction] SEI~. ATTACHED LEGAL DESCRIPTION Parcel ID Number: 12-3418-19-1-00-098. 350 LINCOLN LANE TI-IAYNW. ("Properly Address"): which currently has the address of [Streetl I~'i'yl , Wyonfing 83127 [Zip Code] TOGETHER WITH all the improvements now or hc]'cat'ier erected on the property, and all easements, appurtenances, and fixtures now or hereafter a il:tit {if the property. All replacements and additions shall also be covered by this Security Instrumem .-\11 of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfull3 ~ciscd of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and th:~t thc P,'operty is unencumbered, except for encumbrances of record. Borrower warrants and will defend gc~crally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform c~xcnants for national use and non-uniform covenants with linfited variations by jurisdiction to constitute ,, tmiform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covc~:mt and agree as follows: 1. Payment of Principal, Interest, Escrow Items, I','Cl}a~ ment Charges, and Late Charges. Borrower shall pay when due the principal of, and interesf tm. thc debt evidenced by the Note and any prepayment charges and late charges due under the Note. Bm~,m'cr shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Nccurity Instrument shall be made in U.S. currency. However, if any check or other instrument receivccl by l~cnder as pa3lment under the Note or this (~)~-6(WY) (ooos! pag, :3 of 18 Form 3051 1/01 0 0464¢; 0780 Security Instrument is returned to Lender unpaid, Lender may rcqtJire that any or all subsequent payments due under the Note and this Security Instrument be made i~ (mc 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 iustitution whose deposits are insured by a federal agency, 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 designated by Lender in accord,,mcc with the notice provisions in Section 15. Lender may return any paymem or partial payment if the pa3 mom or partial payments are insufficient to bring the Loan current. Lender may accept any payment or l~:uti',tl payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice t. its rights to refuse such pay~nent 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 schcduh:d due date, then Lender need not pay interest on unapplied funds. Lender ~nay hold such unapplied ftmds 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, s.ch fimds will be applied to the outstanding principal balance under the Note immediately prior to forcch~sm'c. No offset or claim which Borrower might have now or in the future against Lender shall relieve Bm'rower from nmking payments due under the Note and this Security Instrument or performing the covc~:.,s and agreements secured by this Security Instrumem. 2. Application of Payments or Proceeds. Except as ,~thcrwis¢ described in this Section 2, all payments accepted and applied by Lender shall be applied i~ iht: fi~llowing order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) alll~nllltS due under 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 late charges, second to any other am,m~,s duc under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a ddimtucnt Periodic Payment which includes a sufficient amount to pay any late charge due, the payment m: ) he applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstandi nS, Lender nkay apply any payment received from Borrower to the repayment of the Periodic Payments it', :md tt) the extent that, each payment can be paid in full. To the extent that any excess exists after the pay ~c.t is applied to the full 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 prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or M iscclhmeous Proceeds to principal due under the Note shall not extend or postpone the due date, or change thc amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lcmlcr m~ the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Ftmds") tu provide for payment of amounts due for: (a) taxes and assessments and other items which can attai~ prim-ity over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments ,, ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender umlcr Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to l.c~dcr in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Ncctim~ 10. These items are called "Escrow Items." At origination or at any time during the term of thc I,<m, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escr. xx cci 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 FuiMs lin' Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Esteem, Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Item~ at any time, Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay di~ c¢ ti3 , when and where payable, the amounts in~tial~C~4 (~-6(WY) Iooo{i) Page 4 of 15 Form 3051 1/01 078 due for any Escrow Items for which payment of Funds has bccn waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment xvithi~ such time period as Lender may require. Borrower's obligation to make such payments and to provide ~cccipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instnm ~cm. as the phrase "covenant and agree~nent" is used in Section 9. If Borrower is obligated to pay Escrmx Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lc.der may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated t~dcr Sectiou 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escmx~ Items at any time by a notice given ~n accordance with Section 15 and, upon such revocation, Bm~,~uc, 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 Funds in an am~mat (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not t~ cxcctzd the nmximum amount a lender can require under RESPA. Lender shall estimate the amount o1' Irul~cls due on the basis of current data and reasonable estimates of expenditures of future Escrow Items m' otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose d,:p~s~ts are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an i l~slitution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds t,~ P:~3 the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower I't~l }raiding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items tmlcss Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a ch',,'ec. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, I.cndcr shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lendc~ c'~m agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower. uithot, t charge, an amlual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as dcti~cd under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required hy RESPA, and Borrower shall pay to Lender the amount necessary to make up the 'shortage in acco~tltmce with RESPA, but in no more than 12 monthly- payments. If there is a deficiency of Funds held in e~,cmu, ,'ts defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall p:ty [o Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more ~h:m 12 monthly payments. Upon payment in full of all sums secured by this Securit5 I~lstrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Sccm'ity Instrument, leasehold payments or ground rents on the Property, if any, and Community Associali~m l-)ues. Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall p:~y them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has pram'it3 over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligati{~ secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agrccnlcnt; (13) contests the lien in good faith by, or defends against enforcement of the lien in, legal procct:dings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings arc pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agrcclnellt satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that ',mS part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender ~ay give Borrower a notice identifying the (~t~-6{WY) (ooos) Page 6 of 15 Form 3051 1/01 O782 lien. Within 10 days of the date on which that notice is given II~rrowcr 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 ch:ltgc for a real estate tax verification and/or reporting service used by Lender in connection 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 x~ ithin thc term "extended coverage," and any other hazards including, but not limited to, earthquakes and Ih,~ds. fi)r which Lender requires insurance. This iusurance shall be maintained in the amounts (includi,g ,Icducfble levels) and for the periods that Lender requires. What Lender requires pursuant to the preccdi,g sentences can change during the term of the Loan. The insurance carrier providing the insurance shall hc choscu by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall ~m bc exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, citJtcr: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a ~mcqimc charge for flood zone determination and certification services and subsequent charges each time ~c~J~apl)ings or si~nilar changes occur which reasonably might affect such determination or certification. Ilm'mwcr shall also be responsible for the payment of any fees imposed by the Federal Emergency ~hm:Jgcment Agency in com~ection with the review of any flood zone determination resulting from an objc~'l iml by Borrower. If Borrower fails to maintain any of the coverages dc~c'~ihcd above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lcmlcr is under no obligation to purchase any particular type or amount of coverage. Therefore, such covc~:t,c shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or tl~' contents of the Property, against any risk, hazard or liability and might provide greater or lesser covcr:~t~c Ihan was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obt',incd might 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 Borrower secured by this Securib I~l~trumcn£. These amounts shall bear interest at the Note rate from the date of disbursement and shall be i~:L~',dflc, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals ~t' such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mm'tgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall h',~x c the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give m l.cnder all receipts of paid premiums and renewal notices. If Borrower obtains any forln of insurance o~xcragc, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy sh,II include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss pa: cc. In the event of loss, Borrower shall give prompt notict~ ~} th~ insurance carrier and Lender Lender may make proof of loss if not made promptly by Borrower. [llllcss Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underl t~g insurance was required by Lender, shall be applied to restoration or repair of the Property, if the rest~,',,fion m' repair is economically feasible and Lender's security is not lessened. During such repair and rests, :ttim~ period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided d~at such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and rcstmatiolx iu a single payment or in a series of progress payments as the work is completed. Unless an agrccmcm 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 atlju~,tcrs, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and sl~Ml be file sole obligation of Borrower. If file 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 Securi,~ Instrument, whether or not then due, with (~-6(WY) (ooos) Pag. 6 of 15 Form 3051 1/01 OJO4 4G the excess, if any, paid to Borrower. Such insurance proceed, .qmll be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, ~cg~ltiate and settle any available insurance claim and related matters. If Borrower does not respond xx ithi, B0 days to a notice from Lender that the insurance carder has offered to settle a claim, then Lender m:~y negotiate and settle the claim. The 30-day period will begin when the notice is given. In either eve,t, m' if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to kc~tdcr (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid trader thc Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right t,~ :my retired of unearned premiums paid by Borrower) under all insurance policies covering the Propero. insofi~r as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instnt~c~ t whether or not then due. 6. Occupancy. Borrower shall occupy, establish, ;md u.sc the Property as Borrower's principal residence within 60 days after the execution of this Securit3 It~strumcnt a~d shall continue to occupy the Property as Borrower's principal residence for at least one 3'c:~ after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be m~rcasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of Iht, I','operty; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or connnit waste on the Property, Whether or not Borrower is residing in the Prol)ctty, Bm'rower shall maintain the Property in order to prevent the Property from deteriorating or decreasi~m ia value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is nm econo~nically feasible, Borrower shall promptly repair the Property if damaged to avoid furrier deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage t~. m' the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property truly il' Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and ~c,tt~ratiotl i~l a single payment or in a series of progress payments as the work is completed. If the insurance m' condemmqtion proceeds are not sufficient to repair or restore the Property, Borrower is not relieved ~d Bm'tower's obligation for the completion of such repair or restoration, Lender or its agent may make reasonable entries upm~ ',t~d inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the inllm,x cmcnts on the Property. Lender shall give Borrower notice at the time of or prior to such an interior insl~cc~ im~ specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall bc in dcfimlt if, during the Loan application process, Borrower or any persons or entities acting at thc dircctiou of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or in:teem'ate iuformation or statements to Lender (or failed to provide Lender with material informati(m, ia connection with the Loan. Material representations include, but are not limited to, representad,ms cm~cerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements c~mai~etl in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, lm~bate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over tiffs Ncc[~rity Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, tilth Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in I~c Property and rights under this Security Instrument, including protecting and/or assessing the value ~ dtc Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited m: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) apl)c.,ring in court; and (c) paying reasonable (~-6(WY) {ooos) Page 7 of 15 Form 3051 1/01 075" attorneys' fees to protect its interest in the Property and/or ri:4lHs trader this Security Instrument. including its secured position in a bankruptcy proceeding. Securing thc Property includes, but is not limited to. entering the Property to make repairs, change locks, replace m bt~al'd up doors and windows, drain water from pipes, eliminate building or other code violations or (lzlll~cl't}t~s conditions, and have utilities turned on or off. Although Lender may take action under this Sectiml 7) l.cnder does not have to do so and is not under any duty or obligation to do so. It is agreed that Lendc~ ~.curs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument, These amounts shall bear imcrest at the Note rate from the date of disbursement and shall be payable, with such interest, upon n~dce from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower :.l~all comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leascl.dd :md the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage [ibtH'ance :~s a condition of making the Loan, Borrower shall pay the prenfiums required to maintain the lvlm tgagc Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases r,~ hc available frown the mortgage insurer that previously provided such insurance and Borrower was required m make separately designated payments toward the premiums for Mortgage Insurance, Borrower sh:tll pay the premiuins required to obtain coverage substantially equivalent to the Mortgage Insurance pcviously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insur:mcc previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equix.lcm Mortgage Insurance coverage is not available. Borrower shall continue to pay to Lender the amora, ,,r thc separately designated payments that were due when the insurance coverage ceased to be in effect. I.cnder will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mmlu: ,,c Msurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is uhi~:ttcly paid in full. and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the am~,u~t and for the period that Lender requires) provided by an insurer selected by Lender again becomes ',tv.ilable, 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 x~.s required to ~nake separately designated payments toward the premiums for Mortgage Insurance, B,,rr,~wcr shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a .~m-rcrundable loss reserve, uutil Lender's requirement for Mortgage Insurance ends in accordance with .~, written agreement between Borrower and Lender providing for such termination or until termination is ~cquired by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at thc r'.te provided in the Note. Mortgage Insurance reimburses Lender (or any entity th.t ptu'chases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. B~m'ower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such it~.r:mce in tbrce from time to time, and may enter into agreements with other parties that share or modify tl~cir risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortg,gc insurer and the other party (or parties) to these agreements. These agreements may require the mortgage i~surcr to nhake payments using any source of funds that the mortgage insurer nmy have available (which ~u:ty include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchasc~ ,,I thc Note, another insurer, any reinsurer. any other entity, or any affiliate of any of the foregoing, ma~ ~ccc~ve (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrtm cr's payments for Mortgage Insurance. in exchange for sharing or modifying the mortgage insurer's ri~k. m' reducing losses. If such agreement provides that an affiliate of Lender takes a share of the i.s.rcr's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "c.ptive reinsurance." Further: (a) Any such agreements will not affect the amounts ~l~:~t Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such .grceluents will not increase the amount Borrower will owe for Mortgage Insurance, and they will nm entitle Borrower to any refund. ~-6(WY) tooosl Pag~ e of ~ Form 3051 1/01 (b) Any such agreements will not affect the rights Borrmvcr has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act o1' 1998 or any other law. These rights may include the right to receive certain disclosures, lo request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were uncm'ned at the time of such cancellation or termination. 11. Assignment of Miscellaneous ~ocee&; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If fl~e Property is da~ged, such Miscellaneous Proceeds sh:dl be applied to restoration or repair of · e Property, if ~e restoration or repair is econo,tally ~a~ihlc and Lender's security is not lessened. Du~n~ such repair and restoration pe~od, Lender shall have thc right to hold such Miscellaneous Proceeds until Lender has had an opporm~ty to i~pect such Prope% t,~ ensure fl~e work has been completed to Lender's satisfaction, provided ~at such i~pection shall be umlcrtakcu promptly. Lender ~y pay for ~e repairs and restoration in a single disbursement or in a series ¢~t' progress payments as ~e work is completed. U~ess an agreement is ~de in writing or Applicable l.aw requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required ;o pay Ihm't~wcr any interest or carings on such Miscellaneous Proceeds. If ~e restoration or repair is not ectmtmiically feasible or Lender's secu~ty would be lessened, fl~e Miscellaneous Proceeds shall be applied to thc sums secured by ~is Secu~ty Instrument, whe~er or not ~en due, wi~ ~e excess, if any, paid to Borr,~cr. Such Miscellaneous Proceeds shall be applied in ~e order provided for in Section 2. In ~e event of a total raking, destruction, or loss in v:tlu¢ of rte Property, fl~e Miscellaneous Proceeds shall be applied to ~e su~ secured by ~s Securit5 l~smm~ent, whe~er or not ~en due, wi~ fl~e excess, if any, paid to Bo=ower. In ~e event of a partial taking, destruction, or loss in valttc ~d' the Property in which ~e fair nmrket value of ~e 'Property i~ediately before ~e partial taking, dcNtruction, or loss in value is equal to or greater ~an ~e amount of ~e su~ secured by ~is Security I~strun~ent immediately before ~e partial taring, destruction, or loss in value, mfless Borrower and l.c~dcr otherwise agree in writing, ~e su~ secured by ~is Security [nstmmem shall be reduced by tl~c ammmt of ~e Miscellaneous Proceeds multiplied by ~e following, kaction: (a) ~e total amount ~d' tl~c stllus secured in~ediately before ~e partial raking, destruction, or loss in value divided by (b) fl~¢ fitir market value of ~e Property i~ediately before file partial taking, destruction, or loss in value. Any bal:mcc shall be paid to Borrower. In ~e event of a partial taking, destruction, or loss in v',duc of the Prope~y in which ~e fair mrket value of ~e Property i~diately before ~e partial taking, destruction, or loss in value is less ~an ~e amount of ~e su~ secured i~ediately before ~e partial I:d. ing, destruction, or loss in value, u~ess Borrower and Lender o~erwise agree in writing, ~e Miscelkmcous Proceeds shall be applied to ~e sm~ secured by ~is Security Instrument whe~er or not ~e sums arc ~hcn due. If ~e Property is abandoned by Bo~ower, or if, at'tot nt~tice by Lender to Bo~ower ~at ~e Opposing Party (as defined in ~e next sentence) offers to re:tko an award to settle a claim tbr damges, Bo~ower fails to respond to Lender wiflfin 30 days after file tk~tc thc notice is given, Lender is au~orized to collect and apply ~e Miscellaneous Proceeds eider to r~Ntt~ation or repair of ~e Property or to ~e sums secured by ~is Security Instrument, whe~er or not fllen duc. "Opposing Party" mea~ ~e ~ird party · at owes Borrower Miscellaneous Proceeds or ~e party agai~st whom Borrower has a right of action in regard to Miscellaneous Proceeds. Bo~ower shall be in default if any action or proceeding, xx I~cther civil or cri~ml, is begun ~at, in Lender's judgment, could result in forfeiture of ~e Propert3 ~r mhcr n~terial impairment of Lender's interest in ~e Property or rights under tiffs Security Instmmcm. Bm'rower can cure such a default and, if acceleration has occurred, rei~tate as provided in Section 19, by causing ~e action or proceeding to be dis~ssed wi~ a ruling flint, in Lender's judgment, precludes l~rl~eiture of the Property or o~er nmterial impairment of Lender's interest in ~e Property or rights undc~ this Security Instrument. The proceeds of any award or claim for damges ~at are attributable to ~e iml):drmcm of Lender's interest in ~e Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds ~at are not applied to rest~mttion or repair of ~e Property shall be applied in ~e order provided for in Section 2. II~-6{WY) Iooos} P~g, 9 of ~5 - ' Form 3051 1/01 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured b.~ ~lfi s $cc uri £y Instrumem granted by Lender to Borrower or any Successor in Interest of Borrower shall n.~ ,,pcrat~ to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not bc ~cqttired to commence proceedings against any Successor in Interest of Borrower or to refuse to extc~d tim~ £or payment or otherwise modify amortization of the sums secured by this Security Instrument bb rc:tsml or' any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbcata.cc by Lender in exercising any right or remedy including, without limitation, Lender's acceptance .1~ payments t¥om third persons, entities or Successors in Interest of Borrower or in amounts less than thc :.., rant then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors a,ul Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joi.i :md several. However. any Borrower who co-signs this Security Instrument but does not execute the N~tc (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the c,,-~igncr's interest in the Property under the terms of this Security Instrument; (b) is not personally obligalcd t. pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower ca, agree to extend, modify, forbear or make any accommodations with regard to the terms of this ~¢curity Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Success.r in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writi.~ :md is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrm.cnt. Borrower shall not be released from Borrower's obligations and liability under this Security Instrumc.t unless Lender agrees to such release in writing. The covenants and agreements of this Security In~irtmtcnt shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees fi.~ services performed in connection with Borrower's default, for the purpose of protecting Lender's i.tcrcst in the Property and rights under this Security Instrument. including, but not limited to, attorneys' t('cs, property inspection and valuation fees. In regard to any other fees. the absence of express authority it ~his .qccurity Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the ch',,'ging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument m b 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 collcctccl in ctmuectton 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 h(,n Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to ~akc this refund by reducing the principal owed under the Note or by making a direct payment to Bt~rt~\vcr. If a refund reduces principal, the reduction will be treated as a partial prepayment without :,~y prq~ayment 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 ,,f actim~ Borrower might have arising out of such overcharge. 15.. Notices. All notices given by Borrower or Lender itl ~tmncction with this Security Instrument must be in writing. Any notice to Borrower in connection with ~his Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail ,~r when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borr~,x\ c~ shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The n~ti~c ,'lcldrcss shall be the Property Address unless Borrower has designated a substitute notice address by ~,,ticc to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender spec i tics a procedure for reporting Borrower's change of address, then Borrower shall only report a change {,t' :lddrcss through that specified procedure. There may be only one designated notice address under this Nccurity Instrument at any one time. Any notice to Lender shall be given by delivering it or by maili.g it by first class mail to Lender's address stated herein unless Lender has designated another addres~ hy n. tice to Borrower. Any notice in connection with this Security Instrument shall not be deemed ,~ have been given to Lender until actually received by Lender. If any notice required by this Security l.strtttncnt is also required under Applicable Law, the Applicable Law requirement will satisfy the conc~l)~mding requirement under this Security Instrument. 11~-6(WY) Iooos) Pao, lO of 15 Form 3051 1/01 0 7 8 7 16. Governing Law; Severability; Rules of Const,'vc~ion, 'Hfis Security Instrument shall be governed by federal law and the law of the .jurisdiction in x~ hid~ thc Property is located. All rights and obligations contained in this Security Instrument are subjccl t~ any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitb '.ll.w the parties to agree by contract or it might be silent, but such silence shall not be construed as a p~.hihition against agreement by contract. In the even~ that any provision or clause of this Security Insm, mc.t or fl~e Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Sccurit3 l,strument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of thc m'a~ct,liue gender shall mean and include corresponding neuter words or words of the feminine gender; (h) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gix c'~ ~.le discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one cop3 ,,1' thc Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interes~ i. Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest i, thc Property, including, but not limited to, those beneficial interests transferred in a bond for deed, c.~,~',~ct fi.' deed, installment sales contract or escrow agreement, the intent of which is the transfer of title b3' I~.'rower at a ~ture date to a purchaser. If all or any part of ~e Prope~y or any Interest in ~e Pr. pc~b' is sold or trailered (or if Borrower is not a mtural person and a beneficial interest in Bo~ower i~ ~t~lcl or tra~fe~ed) wi~out Lender's prior written consent, Lender ~y require i~ediate payment i, l'ull of all su~ secured by ~is Security I~tmment, However, ~is option shall not be exercised by l.cmler if such exercise is prohibited by Applicable Law. If Lender exercises ~is option, Lender shall give Borr. xx cr ,oticc of acceleration. The notice shall provide a period of not less ~an 30 days from ~e date ~e ,~dcc is given in accordance wi~ Section 15 wi~in which Borrower must pay all su~ secured by ~is Sccm'ity Instrument. If Bo~ower fails to pay ~ese sums prior to ~e expiration of ~is period, Lender ma)' it~v.ke any remedies pe~tted by ~is Security I~tmment wi~out ~r~er notice or de.nd on Borruxvcr, 19. Borrower's Right to Reinstate After Accelerati... If Borrower meets certain condition, Borrower shall have ~e right to have e~orcement of this gccm'ity Instrument discontinued at any time prior to ~e earliest of: (a) five days before sale of ~e Property pursuant to any power of sale contained in ~is Security Imtmment; (b) such o~er period as Applicable l.aw might specify for ~e te~tion of Bo~ower's right to reinstate; or (c) entry of a judgment c~lbrcing this Security Instrument. Those conditions are ~at Borrower: (a) pays Lender all sums which then would be due under ~is Security Instrument and ~e Note as if no acceleration had occurred; (b) cra'cs any default of any other covemnts or agreements; (c) pays all expe~es incu~ed in enforcing ~is Sect. ity h~strument, including, but not li~ted to, reaso~mble attorneys' fees, property i~pection and valuati(m lL. cs, and o~er fees incurred for ~e pu~ose of protecting Lender's interest in ~e Property and righ~ trader this Security Instrument; and (d) takes such action as Lender ~y reaso~bly require to assure d~'at Lender's interest in ~e Property and rights under ~is Security Instrument, and Borrower's obligad,,, tt, pay the sums secured by ~is Security Instrument, shall continue unchanged. Lender ~y require tlm~ I~,rrower pay such reinstatement su~ and expenses in one or more of ~e following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, ba~ check, treasurer's check or cashier's chcck~ provided any such check is drawn upon an institution whose deposits are insured by a federal agency, i.~trumcntality or entity; or (d) Electro~c Funds Tra~fer. Upon reinstatement by Borrower, ~is Securib l~t rument and obligatio~ secured hereby shall re~in ~lly effective as if no acceleration had occurred. I I.wever, ~is right to reinstate shall not apply in ~e case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of (;rievance. The Note or a partial interest in · e Note (toge~er wi~ ~is Security Instmmen0 can be sold m~c or more times wi~out prior notice to Borrower. A sale ~ght result in a change in ~e entity (k,,,x~, as the "Loan Se~icer") ~at collects Periodic Payments due under ~e Note and ~is Security h~strumcnt aud perfor~ o~er mortgage loan servicing obligatio~ under ~e Note, ~is Security I~tmment~ a.d Applicable Law. There also might be one or more changes of ~e Loan Servicer u~elated to a sale t~' ~l~c Note, If there is a change of ~e Loan Servicer, Bo~ower will be given written notice of ~e change xx I~ich will state ~e mine and address of ~e new Loan Servicer, ~e address to which payments should bc ~,adc and any ofl~er infornmtion ~SPA ~6(WY) (ooos} P~e ~ of ~ Form 3051 1/01 0904¢ 4¢5 ,- 07 $ 8 requires in connection with a notice of transfer of servicing. Il d~c N~te is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the N~,tc. d~c lnortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transfer~ cd t,,. successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by thc Nolo pt~rchaser. Neither Borrower nor Lender may commence, join, or tlc .l,~i~Jcd to any judicial action (as either an individual litigant or the member of a class) that arises fro~ d~c ~ther 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 Lc~,lcr has notified the other party (with such notice given in compliance with the requirements of Section 15 ~ or such alleged breach and afforded the other party hereto a reasonable period after the giving or stroh ~otice to take corrective action. If Applicable Law provides a time period which must elapse b~-f,,tc certain action can be taken, that time period will be deemed to be reasonable for purposes of thi.~ I~:.agraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 :md the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy th~. ,,,dec and opportunity to take corrective action p~ovisions of this Section 20. 21. Flazardous Substances. As used in this Section 21 ~a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants ,,r wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable o~ ~,,xic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos ~,~ fi.'maldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the j.~ i~dicdon where the Property is located that relate to health, safety or environmental protection; (c) "Envi~,~,,c~t~d Cleanup" includes any response action, remedial action, or removal action, as defined in Env rt~mc~md Law; and (d) an "Environmental Condition" means a condition that can cause, contribute t~..r otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use. display:d, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, o~ ,,r i~J the Property. Borrower shall not do. nor allow anyone else to do. anything affecting the Property ta~ that is ill violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which due to the presence, use. or release of a Hazardous Substance. creates a condition that adversely aft'ec~ thc value of the Property. The preceding two sentences shall not apply to the presence, use, or stora,_,c (,~ the Property of small quantities of Hazardous Substances that are generally recognized to be app~l~riate to normal residential uses and to maintenance of the Property (including, but not limited to, hazard,,~s substances in consumer products). Borrower shall promptly give Lender written notice of (:0 ',,~v investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or pr~v.,~tc party involving the Property and any Hazardous Substance or Environmental Law of which B,~ ~wcr 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 c:.~cd by the presence, use or release of a Hazardous Substance which adversely affects the value of the Ih~q~crt3,, If Borrower learns, or is notified by any governmental or regulatory authority, or any private p.trL¥, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, I~,~rrowcr shall promptly take all necessary remedial actions in accordance with Environmental Law..Nodfi~e hcrei~ shall create any obligation on Lender for an Environmental Cleanup. (~-6(WY) {00o~) Page ~2 ~f ~s Form 3051 1/01 078 NON-UNIFORM COVENANTS. Borrower and Lender l'urther covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borro~ver prior 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 providt.s .Iherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) :~ date, not less than 30 days from the date the notice is given to Borrower, by which the default musl he cured; and (d) that failure to cure the default on or before the date specified in the notice may rcsttl! in acceleration of the sums secured by this Security Instrument and sale of the Property. The nmice 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 immediate payment in full of all sums secured by this Security Instrument without further demand and may invoke the power of sale and any other remedies permitted by Applicable L;m. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in thi~ ~qection 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If Lender invokes the power of sale, Lender shall gi~t. notice of intent to foreclose to Borrower and to the person in possession of the Property, if difl'e,x, nt, in accordance with Applicable Law. Lender shall give notice of the sale to Borrower in the ma,mt.r provided in Section 15. Lender shall publish the notice of sale, and the Property shall be sohl in tl~e manuer prescribed by Applicable Law. Lender or its designee may purchase the Property at an) sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses or tl~t. sale, including, but not limited to, reasonable attorneys' fees; (b) to all sums secured by this ,qt't'tlrily Instrument; and (c) any excess to the person or persons legally entitled to it. 23. Release. Upon payment of all sums secured by this Sccmity Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation c{)sts Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid ~() a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower releases and waives all rights under and by virtue of the homestead exemption laws of Wyoming. (~-6{WY) (ooos} Pag~ 13 of 15 Form 3051 1/01 0904246 · 07'30 BY SIGNING BELOW, Borrower accepts and agrees t,) iht terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and ~ccmclcd with it. Witnesses: CLINT L blU?LENDORE (Seal) -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (~6(WY) (ooosl Page 14 of 15 Form 3051 1/01 STATE OF WYOMING, ~.IN¢Or.N The foregoing instrument was acknowledged before me this by CLINT L MULLENDORE AND CALLY J MUL~'.ENDORE My Commission Expires: (~-6G(WY) Iooo5) Page 15 of 15 Initials Form 3051 1/01 LEGAL DESCRIPTION Parcel 1 A portion of the SE ~,4 NW ~A NE ~ of Section 19, T34N R 11 gW of the 6th P.M., Lincoln County, Wyoming and being more particularly described as THE TRUE POINT OF BEGINNING being the B.I.. ~q. type Monument found marking the Northwest corner of said SE ~ NW ~,~ NE ~,~; thence S 89 °56'52" E, along the North line of said SE !~ N W ¼ NE ~,~, 659.69 feet to the B.L.M. type Monument found marking the Northeast c~t'~r of said SE~NW¼NE¼; thence S 0°41'31'' W, along the East line of said SE~/4 N\V ¼NE¼, 334.20 feet to an Iron Pipe set at a point in said East line; thence N 89°59'05'' W, 660.00 feet to an Iron Pipe .~ct at a point in the West line of said SE¼NW¼NE~; thence N 0044'40'' E, along said West line, 334.63 feel I~ lhe TRUE POINT OF BEGINNING. Parcel 2 The right of access as provided for in instrument recorded February 8, 1977 in Book 133PR on page 572 of the records of the Lincoln County Clerk.