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HomeMy WebLinkAbout905829Recording requested by: Wells Fazgo Bank, N.A, he record~'d return to: Wells Fazgo Bank, N.A. P. 0. BOX 31557 BILLINGS, MT 59107 DOCUMENT MANAGEMENT RECEIVED 'l/12/2005 at 11:09 AM RECEIVING # 905829 BOOK: 577 PAGE: 33 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, VVY. 0033 State of Wyoming · . -Sp~cc ~.lmve 'l'lfis Line For Recording Data~ RJ~FER~NCE #: 20042?8'7000381 ACCOUNT #: 0650-650-6284000-1998 MORTGAGE (With Future Advance Clause) DATE AND PARTIES. The date of this Mortgage ("Security Instmmcm") is 11 / 29 / 2004 and the parties, their addresses and tax identification numbers, ff required, a re as follows: MORTGAGOR: CHAD V. JENSEN & KlM H. JENSEN, HUSBAND AND WI F~ , AS JOINT TENANTS WITH RIGHT OF SURVIVORSHIP AND NOT AS 7EP~ANTS IN COMMON [] If checked, refer to the attached Addendum incorporated herein, £or additional Mortgagors their signatures and acknowledgments. LENDER: Wells Fargo Bank, N.A. ~. 0. 80X 31557 BILLINGS, MT 59107 CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (defined below) and Mortgagor's performance under Ihis Security Instrument, Mortgagor grants, bargains, conveys, mortgages and warrants to Lender, with power of sale, the fo l hming described property: SEE ATTACHED EXHIBIT The property is located in L I NCOLN at: 333 TWIN CLIFFS AFTON, WY (~°3~)100584 and parcel number of 32181830000400 together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and rip:man rights, ditches, and water stock and all existing and future improvements, structures, fixtures, and replacemems that may now or at any time in the future be part of the real estate described above (all referred to as "Property"). MAXIMUM OBLIGATION LIMIT. The total principal mount secu,'cd by this Security Instrument at any one time shall not exceed $ 20,000. O0 . This limitation of amount does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this limitation does not aplfly to advances made under the terms of this Security Instrument to protect Lender's security and to perform any of the covemmls contained in this Security Instrument. SECURED DEBT AND FUTURE ADVANCES. The term "Securcd l)cbC is defined as follows: EQ]50A (10/2003) o o58 B 00 3 4 A. Debt incurred under the terms of the promissory note, revolvi,g line of credit, contract, guaranty or other evidence of debt dated q ~ / 2§ ! 2004 together with ail amendments, c×lcnsions, modifications and renewals, and having a maturity date of 1112gl 2044 B. All future advances from Lender to Mortgagor under such cx iclcl~ce of debt. Ail future advances are secured as ff made ,~ .on the:date of this Security Instrument. Nothing in this Sect~t-il) Agreement shall constitute a commitment to make additional or future loans or advances which exceed the amo,.t shown in Section 3. Any such commitment must be agreed to in a separate writing. C. Ail sums advanced and expenses incurred by Lender for i..~liring, preserving, or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Lender under the terms of this Security Instrument. 5. PAYMENTS. Mortgagor agrees that ail payments under the Secured l)cbl will be paid when due and in accordance with the terms of the Secured Debt and this Security Instrument. 6. PRIOR SECURITY INTERESTS. With regard to any other mo~'lgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on thc ?t'operly, Mortgagor agrees: A. To make all payments when due and to perform or comply x~ ii h all covenants. B. To promptly deliver to Lender any notices that Mortgagor receives from the holder. C. Not to allow any modification or extension of, nor to request ,,y future advances under any note or agreement secured by the lien document without Lender's prior written consent. 7. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessmc,ls, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Lender' ~l,y require Mortgagor to provide to Lender copies of all notices that such amounts are due and the receipts evidencing Mortg,got'~s payment. Mortgagor will defend title to the Property against any claims that would impair the lien of the Security Instrumcm Mortgagor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Mortgagor may have against p,~-t its who supply labor or materials to maintain or improve the Property. 8. DUE ON SALE OR ENCUMBRANCE. Upon sate, transfer, hypolhccation, assignment or encumbrance, whether voluntary, involuntary, or by operation of law, of all or any part of the Properb. o~-:in3' interest therein, then at its sole option, Lender may, by written notice to Mortgagor, declare all obligations secured hercbx immediately due and payable, except to the extent that such acceleration for and in such particular circumstances where ex¢~'cisc of such a right by Lender is prohibited by law._ 9. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition and make ail repairs that are reasonably necessary. Mortgagor shall not co.~.fit or allow any waste, impairment, or deterioration of the Property. Mortgagor will keep the Property free of noxious x~ccds ,nd grasses. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prio~' written consent. Mortgagor will not permit any change in any license, restrictive covenant or easement without Lender's l)si~r written consent. Mortgagor will notify Lender of all demands, proceedings, claims, and actions against Mortgagor, and el' ,.3 loss or damage to the Property. Lender or Lender's agents may, at Lender's option, enter the Property at an)' ~'casomible time for the purpose of inspecting the Property. Lender shall give Mortgagor notice at the time of or before an inspcctiotx specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Lender's benefit a.d Mortgagor will in no way rely on Lender's inspection. 10. AUTHORITY TO PERFORM. If Mortgagor fails to perform ml.~ duty or any of the covenants contained in this Security Instrument, Lender may, without notice, perform or cause them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgager's name or pay any amount necessary for perform:moo. Lender's right to perform for Mortgagor shall not create an obligation to perform, and Lender's failure to perform will .c)t preclude Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any constmctio~ ou the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to prolcc~ 1.ender's security interest in the Property, including completion of the construction. 11. ASSIGNMENT OF LEASES AND RENTS. Mortgagor irrevoc,bh' grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title and to any and ail existing or future leases, subleases, and any other written or verbal agreements for the use and occupancy of any portion of the Propel'fy, including any extensions, renewals, modifications or substitutions of such agreements (all referred to as "Leases") and renls~ iss.cs and profits (all referred to as "Rents"). Mortgagor will promptly provide Lender with true and correct copies of all cxi~i.g and future Leases. Mortgagor may collect, receive, enjoy and use the Rents so long as Mortgagor is not in default under ~l~c ~erms of this Security Instrument. Mortgagor agrees that this assignment is immediately effective betwec~ ~1~¢ parties to this Security Instrument. Mortgagor agrees that this assignment is effective as to third parties when Lender ~,kcs affirmative action prescribed by law, and that this assignment will remain in effect during any redemption period until ~l~c Secured Debt is satisfied. Mortgagor agrees that Lender may take actual possession of the property without the necessity o1' commencing legal action and that actual possession is deemed to occur when Lender, or its agent, notifies Mortgagor of clcl'~nflt and demands that any tenant pay all future Rents directly to Lender. On receiving notice of default, Mortgagor will c~dorse and deliver to Lender any payment of Rents in Mortgager's possession and will receive any Rents in trust for Lender~ ,~d will not commingle the Rents with any other funds. Any amounts collected will be applied as provided in this Security In sl rument. Mortgagor warrants that no default exists under EQ150B (lO/~ 0035 the Leases or any applicable landlord/tenant law. Mortgagor also agrees to maintain and require any tenant to comply with the terms of the Leases and applicable law. 12. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVi,iI,OPMENTS. Mortgagor agrees to comply with the provisions of'any lease ff this Security Instrument is on a leasehold. If lhe property is a unit in a Condominium Project or is part of a Pl~uned Unit Development ("PUD"), Mortgagor agrees to thc fo lloxxi~ A. Obligations. Mortgagor shall perform all of Mortgagol"~ obligations under the Constituent Documents~ The "Constituent Documents" are the: (i) Declaration or any other documc~t which creates the Condominium Projects or PUD and any homeowners association or equivalent entity ("Owners Associatiol~" ); (ii) by-laws; (iii) code of regulations; and (iv) other equivalent documents. Mortgagor shall promptly pay, when due, all d~cs and assessments imposed pursuant to the Constituent Documents. B. Hazard Insurance. So long as the Owners Association m~mxtains, with a generally accepted insurance cartier, a "master" or "blanket" policy on the Condominium Project or PUD x~ high is satisfactory to Lender and which provides insurance coverage in the amounts, for the periods, and against the hazards Lc~clcr requires, including fire and hazards included within the term "extended coverage," then Mortgagor's obligation under ~%~tion 19 to maintain hazard insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owner's Association policy. Mortgagor shall give Lender prompt notice of any lapse in required hazard ingHt'allCe coverage. In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to l'l'operty, whether to the unit or to common elements, any proceeds payable to Mortgagor are hereby assigned and shall be p;~icl Io Lender for application to the sums secured by this Security Instrument, with any excess paid to Mortgagor. C. Flood Insurance. Mortgagor agrees to maintain flood insur:mce for the life of the Secured Debt which is acceptable, as to form, amount and extent of coverage to Lender. D. Public Liability Insurance. Mortgagor shall take such a~tions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable m form, amount, and extent of coverage to Lender. E. Condemnation. The proceeds of any award or claim for d;m~ages, direct or consequential, payable to Mortgagor in connection with any condemnation or other taking of all or any pat't of the Property, whether of the unit or of the common elements, or for any conveyance in lieu of condenmation, are hereb3 assigt~ed and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument a~ l)rovided in Section 18. F. Lender's Prior Consent. Mortgagor shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Properly or consent to: (i) the abat~domuent or termination of the Condominium Project or PUD, except for abandonment or termination required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any an~c~clment to any provision of the Constituent Documents ff the provision is for the express benefit of Lender; (iii) terminatitm of professional management and assumption of self- management by the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable lo Lender. G. Remedies. If Mortgagor does not pay condominium or PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this section shall become additional debt of Mortgagor secured by this Security Instrument. Unless Mortgagor and Lender agree to other terms ofpa.x mcnt, these amounts shall bear interest from the date of disbursement at the Secured Debt rate and shall be payable, with intcrcsL upon notice from Lender to Mortgagor requesting payment. 13. DEFAULT. Mortgagor will be in default ff any party obligated ~m the Secured Debt fails to make payment when due. Mortgagor will be in default ff a breach occurs under the terms of thi.~ ~ccurity Instrument or any other document executed for the purpose of creating, securing or guarantying the Secured Debt. A good faith belief by Lender that Lender at any time is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment or the value of the Property is impaired shall also constitute an event of default. 14. REMEDIES ON DEFAULT. In some instances, federal and state I~x~ will require Lender to provide Mortgagor with notice of the right to cure or other notices and may establish time schedules lb~ foreclosure actions. Subject to these limitations, ff any, Lender may accelerate the Secured Debt and foreclose this Security l l~lrument in a manner provided by law ff Mortgagor is in default. At the option of Lender, all or any part of the agreed fees and charges, accrued interest and principal shall become immediately due and payable, after giving notice if required by law, upon the occ~rrcnce of a default or anytime thereafter. In addition, Lender shall be entitled to all the remedies provided by law, the tee'ms of the Secured Debt, this Security Instrument and any .related documents, including without limitation, the power to sell thc Property. All remedies are distinct, cumulative and not exclusive, and the Lender is entitled to all remedies provided at lax~ or equity, whether or not expressly set forth. The acceptance by Lender of any sum in payment or partial payment on ~h~. Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of l~¢nder's right to require complete cure of any existing default. By not exercising any remedy on Mortgagor's default, Lender' does not waive Lender's right to later consider the event a default ff it continues or happens again. EQ150C (10/2003) O905SZ 0036 15. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FE ~S; COLLECTION COSTS. Except when prohibited by law, Mortgagor agrees to pay all of Lender's expenses if Mortg, g~,' breaches any covenant in this Security Instrument. Mortgagor will also pay on demand any amount incurred by Lender lb~- insuring, inspecting, preserving or otherwise protecting th~ Prbperty and Lender's security interest. These expenses will bear i~tcrcst from the date of the payment until paid in full at the highest inte~es! rate in effect as provided in the terms of the See.red Debt. Mortgagor agrees to pay all costs and expenses incurred by Lender in collecting, enforcing or protecting Lenders' rights and remedies under this Security Instrument. This amount may include, but is not limited to, attorneys' fees, court costs. ;md o~her legal expenses. This amount does not include attorneys' fees for a salaried employee of the Lender. This Security ~s[rumcnt shall remain in effect until released. Mortgagor agrees to pay for any recordation costs of such release. 16. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES..,\s ,sed in this section, (1) Enviromnental Law means, without limitation, the Comprehensive Enviromnental Response, Coml~c~lsation and Liability Act (CERCLA, 42 U.S.C. 9601 et seq.), and all other federal, state and local laws, regulations, ordina,c'cs~ court orders, attorney general opinions or interpretive letters concerning the public health, safety, weffare, environment or :~ h',~/~trdous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or co~t~,ninant which has characteristics which render the substance dangerous or potentially dangerous to the public health, s~ll'ciy, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic s,bs~mces," "hazardous waste" or "hazardous substance" under any Environmental Law. Mortgagor represents, warrants and agrees that: A. Except as previously disclosed and acknowledged in writing lo Lender, no Hazardous Substance is or will be located, stored or released on or in the Property. This restriction docs ~ot apply to small quantities of Hazardous Substances that are generally recognized to be appropriate for the nonn~l ~s¢ and maintenance of the Property. B. Except as previously disclosed and acknowledged in writing Io Leander, Mortgagor and every tenant have been, are, and shall remain in full compliance with any applicable Envirom~ ~ct~l~ll Law. C. Mortgagor shall immediately notify Lender ff a release or thrc:,c~cd release of a Hazardous Substance occurs on, under or about the Property or there is a violation of any Envirom~cmal Law concerning the Property. In such an event, Mortgagor shall take all necessary remedial action in accord~mcc xvith any Environmental Law. D. Mortgagor shall immediately notify Lender in writing as soo~ ~s Mortgagor has reason to believe there is any pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Environmental Law. 17. CONDEMNATION. Mortgagor will give Lender prompt notice o~' ~,~y pending or threatened action, by private or public entities to purchase or take any or all of the Property through condcm~:~tion, eminent domain, or any other means. Mortgagor authorizes Lender to intervene in Mortgagor' name in any of the ~bove described actions or claims. Mortgagor assigns to Lender the proceeds of any award or claim for damages connected xxi~h ~l condemnation or other taking of all or any part of the Property. Such proceeds shall be considered payments and will bc ~lpplied as provided in this Security Instrument. This assignment of proceeds is subject to the terms of any prior mortgage, cited of trust, security agreement or other lien document. 18. INSURANCE. Mortgagor shall keep Property insured against loss b.~ llre, flood, thefi and other hazards and risks reasonably associated with the Property due to its type and location. This insur~mcc shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance ~l~tdl be chosen by Mortgagor subject to Lender's approval, which shall not be unreasonably withheld, ffMortgagor fails to maim~i~ lhe coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Properly accc,',.li~g to the terms of this Security Instrument. All insurance policies and renewals shall be acceptable to Lender ~md ~hall include a standard "mortgage clause" and, where applicable, "loss payee clause." Mortgagor shall immediately notil'x l.¢~der of cancellation or termination of the insurance. Lender shall have the right to hold the policies and renewals. If Lc~dcr requires, Mortgagor shall immediately give to Lender all receipts of paid premiums and renewal notices. Upon loss, Mortgt~gor shall give immediate notice to the insurance carrier and Lender. Lender may make proof of loss if not made immediateb b) Mortgagor. Unless otherwise agreed in writing, all insurance proceeds shall be ~q~l~licd to the restoration or repair of the Property or to the Secured Debt, whether or not then due, at Lender's option. Any applic~iio~ of proceeds to principal shall not extend or postpone the due date of the scheduled payment nor change the amount of a,.~ l~yment. Any excess will be paid to Mortgagor. ff the Property is acquired by Lender, Mortgagor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Lender to the extent of the Secured l)cbt immediately before the acquisition. 19. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 20. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor will provide to Lender upon request, any financial statement or information Lender may deem reasonably ,cc'cssar)'. Mortgagor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider ~cccssary to perfect, continue, and preserve Mortgagor's obligations under this Security Instrument and Lender's lien status Ol~ Iht Property. 21. JOINT AND INDIVIDUAL LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual, ff Mortgagor signs this .~cc,rity instrument but does not sign an evidence of debt, EQl~On (lo/~3~_ o905s 9 0o37 Mortgagor does so only to mortgage Mortgagor's interest in the Propers? lo secure payment of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. If this Security Inslrumem secures a guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lcmlcr from bringing any action or claim against Mortgagor or an); party indebted under the obligation. These rights may include, bu~ are not limited to, any anti-deficiency or one-action laws. Mortgagor agrees that Lender and any party to this Security lnstrmnent may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Mortgagor's consent. Such a change will not release Mortgagor from the terms of this Security Instrument. The duties and bcu¢fits of this Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lender. 22. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. ri'his Security Instrument is governed by the laws of the jurisdiction in which the Property is located, except to the extent othem i sc required by the laws of the jurisdiction where the Property is located. This Security Instrument is complete and fully inlcgratcd. This Security Instrument may not be amended of modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that hm expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrumenl. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of thc sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Sec,rity Instrument. Time is of the essence in this Security Instrument. 23. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Security Instrument, or as shown in Lender's records, or to any other address designated in writing. 24. WAIVERS. Except to the extent prohibited by law, Mortgagor waives auy right regarding the marshalling of liens and assets, and hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of this state. 25. OTHER TERMS. If checked, the following are applicable to this Security Instrument: Line of Credit. The Secured Debt includes a revolving liuc of credit provision. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. Construction Loan. This Security Instrument secures an obligation incurred for the construction of an improvement on the Property. N-WI Fixture Filing. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future and that are or will become fixtures relates to the Property. This Security Instrument suffices as a financing statement and any carbon, photographic or other reproduction may be filed of record for purposes of Article 9 of the Uniform Commercial Code. N-'WI Additional Terms. 26. RIDERS. If checked, the following are applicable to this Security l,tstrument. The covenants and agreements of each of the riders checked below are incorporated into and supplement and amend thc terms of this Security Instrument. ~ Third Party Rider ~ Leasehold Rider N-~ Other N I A SIGNATURES: By signing below, Mortgagor agrees to the terms and coxcnants contained in this Security Instrument and in any acknowledges receipt of a copy of this Security Instrument on the date stated on page 1. Mortgagor Date Date Mortgagor Mortgagor Mortgagor Date Date Mortgagor Date EQI50E (10/2003) Mortgagor Date .ACKNOWLEDGMENT: (Individual) sT^~ OF ~O;r cou~w OF k: ~ ~.~ The foregoing instmmem was acknowledged ~fore me by this ~ b dayof ,/~JoP~..--~ .~.e~ Wff~n~ess my hand and/~i~seal. (Title of Officer) My Commission Expires: LVERLY JOHNSON. NOTARy PUBLIC count~o~ ~) (Sabot Commission Expires I~l~ch ~, eOO~ ACKNOWLEDGMENT: (Individual) I couNwOF )4"~,, The foregoing instrument was acknowledged before me by this ~a_~_day of ,/~ _n ti e_-~r~_/a et-- W~s my hand and o~c~,al s~eal. My Commission Expires: (Seal) BEVERLY JOHNSON. NOTARY PU~IC C~un~ of ~ State ol bly Comn~,.~on Expires 14arch 29, 20o5 Exhibit A l~c~mn~ #: 20042387000381 Acct#: 0660-650-6284000-1998 THE FOLLOWING DESCRIBED TRACT OF LAND IN Lll,4~:OLN COUNTY, STATE OF WYOMING, HEREBY RELEASING AND WAIVING ALL ~li;~TS UNDER AND BY VIRTUE OF THE HOMESTEAD EXEMPTION LAWS OF THE STATE, ic~-WIT: BEGINNING AT A POINT WHICH IS NORTH 35.28 FEET AND EAST 1,431.6/ tEET FROM THE WEST l/lOTH CORNER BETWEEN SECTIONS 18 & 19, T. 32N RllBW. 6TH P.M. THENCE S 88 DEGREES 59 MINUTES 48 SECONDS W. ALONG THE r,~ClRTH SIDE OF LINCOLN COUNTY ROAD 12-100 228.63 FEET, THENCE N 12 DEGREES O0 MINUTES W. 241.26 FEET, THENCE N 83 DEGREES O0 MINUTES E. 187.93 F~T TO THE CENTER OF THE NORTH CANAL, THENCE ALONG THE CENTER OF SAID CANAL S. 13 DEGREES O0 MINUTES E. 113.00 FEET, AND S. 26 DEGREES 30 MINUTES E 147.18 FEET TO THE POINT OF BEGINNING, AND CONTAINING 1.108 ACRES. TOO[iliiLR WITH A RIGHT-OF-WAY FOR INGRESS AND EGRESS TO SAID COUNTY ROAD, BECII,INtNG NORTH 31.28 FEET AND EAST 1,203.08 FEET FROM SAID 1/16 CORNER, ~tiNCE S. 88 DEGREES 59 MINUTES 48 SECONDS W. 61.12 FEET, THENCE N 12 DEGR[i~; O0 MINUTES W. 239.11 FEET, THENCE N. 83 DEGREES O0 MINUTES E. 60.35 FEI I, THENCE S. 12 DEGREES O0 MINUTES E. 241.26 FEET TO THE POINT OF BEGllqNING. (THIS BEING PART OF LOT # 3, TWIN CLIFF SUBDIVISION.)