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Home My WebLink About915683 ~~~~Im*~~;r~ "....-....,...-,.,.. rrlor-t::7 ....u,t:,\J -.-- ---.._._~ RECEIVED 2/2/2006 at 10:26 AM RECEIVING # 915683 BOOK: 611 PAGE: 257 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY THIS INSTRUMENT WAS PREPARED BY AND WHEN RECORDED SHOULD BE RETURNED TO: David G. Stolfa 3300 South Columbine Circle Englewood, Colorado 80113 AMENDMENT OF MORTGAGE-SHORT TERM MORTGAGE REDEMPTION, SECURITY AGREEMENT, ASSIGNMENT, FINANCING STATEMENT AND FIXTURE FILING J '\ , THIS AMENDMENT OF MORTGAGE-SHORT TERM MORTGAGE REDEMPTION, SECURITY AGREEMENT, ASSIGNMENT, FINANCING STATEMENT AND FIXTURE FILING (this "Instrument"), dated as of January 20, 2006, is among ME~GHER OIL AND GAS PROPERTIES, INC., a Colorado corporation, Colorado Entity ID No. 19911104767 ("MOGPI"), MEAGHER ENERGY COMPANY, LLC, a Colorado limited liability company, Colorado Entity ID No. 19991142184 (lfMECIf), both with an address at 16 Inverness Place East, Building B, Englewood, Colorado 80112-5615, and AMERICAN NATIONAL BANK, a national banking association (lfANBIf),f/k/a THE BANK OF CHERRY CREEK (A BRANCH OF WESTERN NATIONAL BANK) (lfBOCCIf), with an address at 3033 East First Avenue, Denver, Colorado 80206. L¿ - RECITALS A. MOGPI executed and delivered to BOCC a Mortgage- Short Term Mortgage Redemption, Security Agreement, Assignment, Financing Statement and Fixture Filing dated as of October 9, 2002 (the IfMortgage"), the terms and provisions of which and the description of the property covered by which are hereby incorporated herein by this reference. Schedule I attached hereto and made a part hereof sets forth the filing and recording information for the Mortgage or, as to any counterpart hereof to be filed for recording in a jurisdiction in which the Mortgage has not previously been recorded, contains a copy of the Mortgage. For jurisdictions maintaining tract indices, Schedule II attached hereto and made a part hereof sets forth the descriptions of lands already covered by the Mortgage against which this Instrument should be indexed. B. Capitalized terms used herein without definition shall have the same meanings set forth in the Mortgage, as amended hereby. Y-'. ., .', ,'.~.'.'.~.:!¡!",.,.. -~.-"."',",-,'-,---'_:..~'':::':''.':~ .,'....;.,............/. . ." ·;_'<J;;.~.,·:,-·"'·l· .......,.",;...t.'..".,,";Uõ:-~..'-.,.':..;,'-i;;_.:...'.. '-'."'.'!o;~:~' :1">' i''- ," ,-, ¡" ;,._.:-, .-",.~';"""';-' 091.5683 ("\ fì !; ~ 8 \JU;"'V C. The Bank of Cherry Creek (a Branch of Western National Bank) has changed its name to American National Bank. Some of the properties now or hereafter covered by the Mortgage are or will be owned by MEC. The parties desire that the Mortgage be amended as set forth herein. AMENDMENT IN CONSIDERATION of the sum of ten dollars ($10.00) in hand paid by ANB to MOGPI and MEC and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, ANB, MOGPI and MEC hereby agree that the Mortgage shall be amended as follows: 1. The title of the Mortgage shall be changed to "Line of Credit Mortgage-Short Term Mortgage Redemption, Security Agreement, Assignment, Financing Statement and Fixture Filing". 2. All references in the Mortgage to the mortgagor, grantor, assignor and debtor under the Mortgage being MOGPI shall be changed to indicate that the mortgagors, grantors, assignors and debtors under the Mortgage shall be MOGPI and MEC. The definitions of "MOGPI" and "MEC" contained in the first paragraph of this Instrument shall be incorporated in the Mortgage, and all references in the Mortgage to "Debtor" shall be changed to be references to "MOGPI and/or MEC". The address of MOGPI and MEC contained in the first paragraph of this Instrument shall be substituted for the address of "Debtor" set forth in the Mortgage. 3. All references in the Mortgage to the mortgagee, grantee, assignee, beneficiary and secured party under the Mortgage being The Bank of Cherry Creek (a Branch of Western National Bank) shall be changed to indicate that the mortgagee, grantee, assignee, beneficiary and secured party under the Mortgage shall be American National Bank. The definition of "ANB" contained in the first paragraph of this Instrument shall be incorporated in the Mortgage, and all references in the Mortgage to "BOCC" shall be changed to be references to "ANB". The address of the mortgagee, grantee, assignee, beneficiary and secured party under the Mortgage shall remain the same as set forth in the Mortgage. 4. The following shall be substituted for the third paragraph on page 1 of the Mortgage, which begins "Pursuant to": Pursuant to the terms of a letter agreement dated July 8, 2002, as the same may heretofore have been, or may hereafter be, modified, extended, amended and/or restated from time to time (the "Credit Agreement"), ANB has made or is to make available to MOGPI and/or MEC a revolving line of credit in the principal amount of up to $2,000,000 (the "Loan"). The obligations miliiliMmL :~;j;illWri~ ¡'.·..........,...........,.,r.·;.-.._..i.'~·..L·¡·'·.·.·-- .. ...,........,........;...... ":'.'!'"'1'."";-":-"-"':'." "'-"'.."(¡,,;·,:'_I ,".,. -'" :,!....;-.:,.',:,~.:.: .' ,!;..........~....-_. ,r'd:_)"'¡ C.·f'83 o o ¿....l: '0 (' ("\ n ::- r:: 9 . ~. , ....' "..I \.) k1 \J of MOGPI and/or MEC under or in connection with the Credit Agreement are intended to be secured by the liens, security interests and assignments granted pursuant to this Instrument. 5. The following shall be substituted for Section 1.1.A on page 5 of the Mortgage: A. Payment of and performance of all obligations of MOGPI and/or MEC under or in connection with the Promissory Note dated July 8, 2002, as the same may heretofore have been, or may hereafter be, modified, amended, renewed, extended or substituted for (the "Note"), made by MOGPI and MEC, in the face amount of $2,000,000, payable to the order of ANB on or before December 31, 2008 (or such earlier date as may be specified in the Credit Agreement), with interest at the applicable rate specified in the Credit Agreement, which rate at the date hereof is an annual rate equal to: (1) up to and including the date of maturity or default under the Note, the fluctuating "Prime Rate," as identified in the Wall street Journal Western Edition (the "Prime Rate"), which rate, as of January 20, 2006, is 7.25 percent per annum, plus three-eighths of one percentage point per annum, and (2) after the date of maturity or default under the Note, the Prime Rate plus five percentage points per annum; 6. The following shall be substituted for Section 1.1.F on page 4 of the Mortgage: F. All renewals, extensions, amendments and changes of, or substitutions or replacements for, all or any part of the items described under A through E above; provided that such renewals, extensions, amendments, changes of, or substitutions or replacements for, all or any part of the foregoing: (1) shall not exceed $10,000,000 in aggregate outstanding principal amount at any time; (2) shall have been made on or before December 31, 2010; and (3) shall completely mature on or before December 31, 2012. 7. The following new section 1.2 shall be inserted as a new paragraph immediately after Section 1.1 on page 4 of the Mortgage: -3- -. ,'./'.. ·-·;"~'¡,"'1i:"äU::.:.."''!Ko1'm·n.i.-!~~.,.Z;~r.n'ld7,i'I~''';¡~'!II',",..--~.,.~A,c'_ r . ,'. "". '.J...';.;':.-'. '- ·~·"'~'.·""'''''C.·.~.·. -.., <- '~!_"'.' .."'.....-'"',-1<"'-./:.,,:_.;,......._-;'''., ";f._'_"_'J --.""",,. .""';"".-'."""'.'.";' .-.- .'.. "." ,J<., "..', ...-,-~ P"{.\.<'1 ~~ ~3 ~J~j--..~ QCJ en fL," 6 0 . '" \.. ~ Section 1.2 The maximum amount of the Obligations that may be outstanding at any time or from time to time that shall be secured by this Instrument, including as a mortgage or as a pledge or assignment of Hydrocarbons, is $10,000,000. 8. The pages attached hereto and captioned "Exhibit IA'" shall be added to Exhibit "A" attached to the Mortgage. All references herein and in the Mortgage to Exhibit "A", including without limitation the references in the definitions of the II I and described in Exhibit 'AlII and the "Collateral", shall be deemed to refer to the Exhibit "A" originally attached to the Mortgage, as supplemented hereby. GRANT IN CONSIDERATION of the sum of ten dollars ($10.00) in hand paid to MOGPI and MEC, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, MOGPI and MEC hereby ratify, confirm and adopt the Mortgage, as amended hereby, and: A. Grant, bargain, sell, assign, transfer, pledge, mortgage and convey, and grant a security interest in, the Collateral to ANB, WITH POWER OF SALE pursuant to this Instrument and applicable law¡ TO HAVE AND TO HOLD the Collateral to ANB and its successors and assigns forever, subject to all of the terms, conditions, covenants and agreements herein set forth, for the security and benefit of ANB¡ and B. Assign to ANB all of the severed and extracted Hydrocarbons produced from or attributed to any of the Collateral, together with all amounts that become payable to MOGPI and/or MEC with respect to any of the Collateral, whether now owned or hereafter acquired, and all of the proceeds thereof. EXECUTED as of the date first above written. MEAGH~~/ð~~~OPERTIES, INC. By: ~~ Ma thew E. Meagher, President :~GHERq}y~' LLC Matthew E. Meagher, Manager AMERICAN NATIONAL BANK f/k/a THE BANK OF CHERRY CREEK (A BRANCH OF WESTERN NATIONAL BANK) By: G. S. Todd Ber yman, Senior Vice P esident r::::::::::~:::~::::;:~ ¡¡·¡·ill··.'.·.·f·."·.· ~~"'L'¡.!.I~~4""~ ¡;f;!¡~~!IiJ.~¡!~;~ . .....,.............. ,-. ...' ,~. ,; :;'..~:;;.. . . .; r'c(.'''1 r::::C83 ijJ.....:I¿:"..J.;'U r f"I n ;'; 61 '....' \.l \.) ..~ STATE OF COLORADO ss. CITY AND COUNTY OF DENVER (Montana) On this 20th day of January, in the year 2006, before me, Deborah Smith, the undersigned notary public, personally appeared Matthew E. Meagher, known to me to be the President of MEAGHER OIL AND GAS PROPERTIES, INC., a Colorado corporation, the corporation that executed the within instrument, and acknowledged to me that such corporation executed the same, and personally appeared Matthew E. Meagher, known to me to be the Manager of MEAGHER ENERGY COMPANY, LLC, a Colorado limited liability company, the limited liability company that executed the within instrument, and acknowledged to me that such limited liability company executed the same. witness my hand and official seal. (Colorado, Louisiana, NM, N. Dakota, S. Dakota, Utah, Wyoming) The foregoing instrument was acknowledged before me this 20th day of January, 2006, by Matthew E. Meagher, as President of MEAGHER OIL AND GAS PROPERTIES, INC., a Colorado corporation, on behalf of said corporation, and by Matthew E. Meagher, as Manager of MEAGHER ENERGY COMPANY, LLC, a Colorado limited liability company, on behalf of said limited liability company. witness my hand and official seal. (Oklahoma, Texas) This instrument was acknowledged before me on January 20, 2006, by Matthew E. Meagher, as President of MEAGHER OIL AND GAS PROPERTIES, INC., a Colorado corporation, on behalf of said corporation, and by Matthew E. Meagher, as Manager of MEAGHER ENERGY COMPANY, LLC, a Colorado limited liability company, on behalf of said limited liability company. Given under my hand and official seal. DEBORAH SMITH (SEA) NOTARY PUBLIC STATE OF COLORADO Illy CaIIniasIoI Expie& )'~,h~ Deborah Smith, Address: 3033 East First Avenue Denver, CO 80206 My commission expires: March 29, 2006 .".......=',..".....-...",..,.~,::.-,.,:,,:"'.:....-,,;,....;.-.,....0;;0;;"".; ,.'..,.................., : .,,r ~ .,¡o(, /,- ii" .¡;) ..-) ~J0",--,,~\)l:)Ù ,0,,,,,, ""6 2 ' .. ,~ ç ·..}!JUt..: STATE OF COLORADO ss. CITY AND COUNTY OF DENVER (Montana) On this 20th day of January, in the year 2006, before me, Deborah Smith, the undersigned notary public, personally appeared G. S. Todd Berryman, known to me to be the Senior Vice President of AMERICAN NATIONAL BANK, a national banking association, fjkja THE BANK OF CHERRY CREEK (A BRANCH OF WESTERN NATIONAL BANK), the national banking association that executed the within instrument, and acknowledged to me that such national banking association executed the same. Witness my hand and official seal. (Colorado, Louisiana, NM, N. Dakota, S. Dakota, Utah, Wyoming) The foregoing instrument was acknowledged before me this 20th day of January, 2006, by G. S. Todd Berryman, as Senior Vice President of AMERICAN NATIONAL BANK, a national banking association, fjkja THE BANK OF CHERRY CREEK (A BRANCH OF WESTERN NATIONAL BANK), on behalf of said national banking association. Witness my hand and official seal. (Oklahoma, Texas) This instrument was acknowledged before me on January 20, 2006, by G. S. Todd Berryman, as Senior Vice President of AMERICAN NATIONAL BANK, a national banking association, fjkja THE aANK OF CHERRY CREEK (A BRANCH OF WESTERN NATIONAL BANK), on behalf of said national banking association. Given under my hand and OffiC~l seal. /J/jQ~9VU~ ~, Deborah Smlth, Notary Public DEBORAH SMITH (SE L) NOTARY PUBLIC STATE OF COLORADO Uy Cc:immI&ekIR &pile Address: 3033 East First Avenue Denver, CO 80206 My commission expires: March 29, 2006 NI~j:Îft:':í·.:~j:.:;\ ~~!~~!~::t:~;::::~~ T:~r~JI~: ........-..........,.,-, ,...-.....-.-....,. . " ,....<..,"~"'..,..,.. ...,...-..'.......,,-. r , 'f....' .('¡ r- 'f-" U .rJ ~J ~i ~,.J.. \j"='; 0'-..1 .' !"I fì :;. 6 3 '. "', . ,) U ._. SCHEDULE I County Filing Recording Data State or Office Date Book Paqe Colorado Cheyenne 12/05/02 Recep. #221539 Colorado Dolores 12/09/02 318 89 Colorado Rio Blanco 12/05/02 578 578 Colorado Weld 12/04/02 Recep. #3011729 Louisiana Webster 02/27/03 Registry #459394 Montana Richland 12/05/02 B-177 Mtg. 281 Montana Roosevelt 12/05/02 604 Mtg. 89 Montana Sheridan 12/05/02 Film 604 Exp. 77 New Mexico Lea 12/05/02 1191 254 North Dakota Bottineau 12/06/02 292 Mtgs. 479 North Dakota Burke 12/06/02 173 Mtge. 637 North Dakota Divide 12/06/02 247 Mtge. 271 North Dakota Renville 12/06/02 170 Mtgs. 401 North Dakota Stark 12/06/02 Doc. #3020928 Oklahoma Custer 12/06/02 1186 525 Oklahoma Dewey 12/06/02 1182 128 Oklahoma Kingfisher 12/06/02 1845 19 South Dakota Harding 12/05/02 102 O&G 286 Texas Bee 03/05/03 694 78 Texas Ector 12/06/02 1705 266 Texas Freestone 12/09/02 1220 56 Texas Gaines 12/06/02 761 575 Texas Goliad 12/06/02 175 832 Texas Martin 12/06/02 132 579 Texas Pecos 12/06/02 321 35 Texas Scurry 12/09/02 514 702 Texas Upton 12/06/02 725 636 Utah San Juan 12/05/02 810 733 Wyoming Campbell 12/05/02 1818 Photos 465 Wyoming Lincoln 12/05/02 506 418 Wyoming Sublette 12/05/02 95 Mtg. 738 Wyoming Sweetwater 12/06/02 964 1459 Wyoming Uinta 12/05/02 785 643 I-I {' ;',' """'("83 ~..]J:::', ~~ iJ ....~.!.!i....!..~...~".' . SCHEDULE II LINCOLN AND SUBLETTE COUNTIES. WYOMING T. 26 N.. R. 113 W.. 6th P.M. section 2: Section 3: Section 10: section 11: Section 14: section 15: ("\ f"\ f"', :" G 4 ' ,'\. , "" ~. ¡, I' - ,..... "'- h Lot 4¡ Lots 5, 6, 7, 8, 9, 10, 11 and 12, S/2¡ NE/4NW/4, N/2NE/4, W/2NW/4, S/2¡ Lots 1, 2, 3 and 4, W/2E/2, N/2NW/4, SE/4NW/4, Lots 1 and 2, W/2E/2, N/2NW/4, SW/4NW/4¡ N/2N/2. ¡~i;~iii~Œwm~~;;_: " SW/4¡