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Home My WebLink About875948 MORTGAGE, ASSIGNMENT WHE~AS, on the 30th da~, of March, 1999, Dou~ BAGLE ~TROL~UM CO.~ formerly ~own as Double Bagle petroleum ~and Mining Company, a Maryland Co¢oration (hereinafter refe~ed to as "Bo~ower"), entc, red into a Mo~gage, Security Agreement and Assignment (hereinafter refe~ed to as "Mortsage"), with ~mc~x Bx~r FI~xc~, the predecessor in interest to ~,mmc~x ~Iox~ B,~N~ (h~r~inafter collectively refe~ to as "Bank"), which was recorded with the County Clerks {~,h~re the original lands were located; and WHE~AS, the Mo~gag~:,~: :'.~ecured a Five Hundred Thousand Dollar ($~00,000.00) Line of Credit; and WHE~AS, the Bo~owe~ a.ad Ba~ in a First Addendum to Mo~gage, Security Agreement and Assignment date January 4, 2000 expanded the Line of Credit with a new ~romisso? Sore fi'om American National Bank havinB a maximum amount of Thr~e Million Dollars ($3,000,000.00) or Bo~owing Base as ~stablished ir: the Loan Commitment Agreement dated December 2, 1999, whichever is the lessor amount; ard WHEREAS, the BOrrower and Bank d~sim to increase th~ amount on th~ [in~ of Credit to the maximum amount which is Three Million Dollars ($3,000,000.00); a~d WHEREAS, the Bo~ower and Bank are desirous of amending tb~ original Mortgage to include additional lands as security for the Lin~ of Credit and assign the secured interns[ from American Energy Finance to American ~ational Ban~. NOW, T~tBFO~, in consideration ofth~ additional lands to be used as security for th~ Mortgag~ and expansion of Bo~ower's Line of Credit, the Bo~ower and Bank agree as ~ollows: 1. The Mortgage shall be amended to include additional lands, and all rights in th~ w~lJs, ~nffs, production and improvement thereon or associated therewith, which lands are d~scribed as follows: ~' ' MADDEN ~IT - Towns~hip 39 No~h, Range 90 West, 6th P.M. '~ Section 23: SEINE%, E%SW~A, SPA Section 24: SW~ANW%,NW~SW% ~Section 26: ~ANE~, E%NW~A F?emont County, Wyoming MESA UNIT , Township 32 NoMh, Range 109 West, 6th P.M. Section 5' SW~ASW~ Section 6: S%SE~, SPASW~A Section 7: NE~, E~NW~A,N%SE~ Section 8: WK=NW~A, NW~A-SW~ , Section9: S%SW~A, SW~SE~. Section 16: W~, NPA, NhSE%, SW%SE% Section 17 SEINE%, NPASPA S'.lblette County, Wyoming 08'. 594S .. 7 7 4 COW CREEK UNIT ' :: TownsiSp 16 North, Range 91 West, 6th P.M. Section 6: Lot 27, SE¼SW~¼ i..Section 7: Lot 5, 6, 7, 8, E½NW~A, NE'ASW~A Section 18: Lot 5 Township 16 North, Range 92 West, 6th P.M. Section 1' SE¼SE¼ Section 11' E½SE¼ · Section 12: S¥2, NE¼, E½NW¼, SW¼NW¼ Section 13: N½, NV2SW*A, SE~ASW¼, NW¼SE~¼ 'Section 14: NE~ANEtA " Carbon County, Wyoming The additional lands being included in the Mortgage shall grant to the Bank the same security interest as exists with the original lands. The Exhibit "A" to the Mortgage shall be amended to include the additional lands. A copy of the Amended Exhibit "A" is attached hereto and made a part hereof. 2. The amount of the Li::ne of Credit in the Mortgage available to Borrower through a Promissory Note from American Niitional Bank shall be amended and increased to a maximum amount of Three Million Dollars ($},000,000.00). The initial Borrowing Base was established at One Million Four Hundred Thousar/d Dollars ($1,400,000.00). 3. American National Bank shall be recognized and approved as the succe.ssor in interest to American Energy Finance as the secured Party and shall be assigned all its rights, title, and interests in the Mortgage and A'3dendums thereto: 4. The remainder of the terms and conditions in the original Mortgage shall remain in full force and effect. AGREED to and acceptedlthe [~ day of ~. ~CiO~-~" ,2001. DOUBLE EAGLE PETROLEUM formerly known as Double Eagle Petroleum and Mining Company STE?I~I~N H. HOLLIS, Chief Executive Officer AT'rE STED: By: D. STEVEN DEGENFE~-I~E[ii V' President, Land ~, AMEI~ [CAN NATIONAL BANK as successor in in' :est to AMI ICAN ENERGY FINANCE By: DALL~N JU~'ffS} Vi~President -2- 775 STATE OF WYOMiNG ) )ss COUNTY OF NATRONA ') foregoing instrument was acknowledged before me this/.ff ~.~L day of~, The 2001, by DOUBLE EAGLE PETROLEUM CO., fo~erly ~own as Double Eagle Petrolffum and Mining Company, by and through ~ts Chief Executive Officer, ST~H~N H. HOLLIS, refe~ed to as the "Bo~ower" herein, as its frec act and deed. '~~~~ ~, /~/~~ My Commis sion expire s: .... .~-*~~ ~ ~ =- ~ = = ~ =~ =~ ~ CAROL A. OSBORNE NOTARY PUBLIC I My Commission Expires Apr, 9, 2~ STATE OF WYOMiNG :) )SS COUNTY OF NATRONA !) ~.aS acknowledged The foregoing instrument before me this day of '[[,~{,C~'b- , 2001, by AMERICAN NATIONAL BAN:K, a Wyoming banking co¢oration, by and through Dallen Juelfs, its Vice President, refexed to as the "Bank" herein. N'otaw Public My Commission expires: ~~'~~'~' .~',~i'~ ~ coUNTNTY OF NATRONA. ~~/05/STATE OF WYOMING -3- 0S~5~}~:S .~ -~: ~, AMENDED ~ EXHIBIT A MO:t~TGAGE~ SECURITY AGREEMENT~ AND ASSIGNMENT LONG BUTTE UNIT . TQ_wnship 38 North, Range 91 West, 6th P.M. Section 2: All Section 3: All " Section 4: All Section 5: All Section 6: All Section 7: Lots 1, 2, 5, 6, NE4, E2NW4, NE4SE4 Section 8: N2, N2S2 Section 9: N2NW4, SW4NW4, NW4SW4 section 10: NE4NW4, N2NE4, SE4NE4 ' Section 11: N2, NE4SW4, N2SE4, SE4SE4 Tc_.!wnship 38 North, Range 92 West, 6th P.M. Section 1: Lots 1-11, SW4NE4, SE4NW4, NW4SE4 T~F. nship 39 North, Range 91 West, 6th P.M. , " Section 28: All Section 29: All Section 30: Lots 3-8, E2, E2SW4, SE4NW4 Section 31 All Section 32: All Section 33' Ali Tq.,wnship 39 North, Range 92 West, 6th P.M. Section 25: S2SE4, NE4SE4, SE4SW4 Section 35: E2SE4, SE4NE4 ~.- Section 36: All Fremont County, Wyoming WALTMAN 21-19 Township 36 North, Range 87 West, 6t~ P.M. Section 24: SE4SE4 Section 25: NE4NE4 · ' And any rights accruing from the drill-site spaced Unit for the Waltman 21-19 Well. Natrona County, Wyoming FRENCHIE DRAW Graham Unit #2 Township 37 North, Range 89 West, 6th P.M. Section 3: Lots 1-4, S½N½ : Natrona County, Wyoming -4- GOVERNMENT BRIDGE 7 7 7 Tc~wnship 31 North, Range 82 West, 6'~ P.M. ~. Section 19, 20, 21, 26 ~ Township 31 North, Range 83 West, 6th P.M. Section 24 : Natrona County., Wyoming WOLF DRAW UNIT TOwnship 52 North, Ran. ge 68 West, 6th P.M. Section 18: Lots 3, 4, E½SW¼, SE¼ Section 19: Lot 1 Township 52 North, Range 69 West, 6~h P.M. Section 13: Lot 16 Section24: Lot 1 Crook County, Wyoming JAMES CREEK Credo Federal #1-6 To~Wr,.ship 14 North, Range 103 West, 6th P.M. Section 6: NE¼ Britz Federal #1 Towrchip 15 North, Range 103 West, 6th P.M. : Section 31: SE~¼ Sweetwater County, Wyoming ROCK ISLAND UNIT #4-H T6wnship 19 North, Range 97 West,'6th P.M. ' Section 4 Sweetwater County, Wyoming BARREL SPRINGS #1-36 To~wnshiD 16 North, Range 94West, 6th P.M. '; Section 36 Sweetwater County, Wyoming MARIANNE FIELD Anderson 12-1 Town!;hip 20 North, Range 103 West, 6th P.M: Section 12: SE¼ ,. Madex 13-1 Town.;hip 20 North, Range 103 West, 6th P.M. Section 13: SW¼ -5- · ~ Madex 18-1 7 7 8 Township 20 North, Range 102 West, 6th P.M. . Section 18:SW¼ Madex 24-2 To¥,nship 20 North, Range 103 West, 6th P.M. . Section. 24:NW¼ Steve Federal 14-1. Township 20 North, Range 103 West, 6th P.M. Section 14:SE¼ Sweetwater County, Wyoming WHISKEY BUTTES UNIT '' Toyznship 21 North, Range 111 West, 6th P.M. Section 6:S½SW¼ ToWnship 21 North, Range 112 West, 6th P.M. Section 18: E½SW¼, SE~ANE¼ Lincoln County, Wyoming WINDMILL (MUDDY) Raybourn #11-5 Township 50 North, Range 69 West, 6th P.M. Section 5: NW¼NW¼ Campbell County, Wyoming MADDEN UNIT TOwnship 39 North, Range 90 West, 6th P.M. Section 23: SE¼NE¼, E½SW¼, SE¼ Section24: SW¼NW¼, NW¼SW¼ Section 26: NW¼NE¼, E½NW¼ ,Fremont County, Wyoming MESA UNIT Township 32 North, Range 109 West, 6th P.M. Section 5: SW¼SW¼ Section 6: S½SE¼, SE¼SW¼ Section 7: NE¼, E½NW¼, N½SE¼ Section 8: W½NW¼, NW¼SW¼ Section 9: S½SW¼, SW¼SE¼ Section 16: W½, NE¼, N½SE¼, SW¼SE¼ Section 17 SE¼NE¼, NE¼SE¼ Sublette County, Wyoming COW CREEK UNIT Township 16 North, Range 91 We. st, 6th P.M. Section 6: Lot 27, SE¼SW¼ " Section 7: Lot 5, 6, 7, 8, E½NW~A, NE¼SW~A Section 18: Lot 5 -6- 779 Township 16 North, Range g~ W.~st, 6th P.M. Section 1:SE~¼SE~¼ Section 1 l: E½SE~/~ Section 12: S¥~, NE~¼, E½NW~¼, .. Section 13: N½, N~ASW~¼, SE¥~SW~¼, NW¼SE¼ Section 14:NE~ANEI/4 :Carbon County, Wyoming 1. The interest in the Long B.UCe Unit described on Page 4 of this Exhibit A shall include any and all rights accruing purs)iant to ownership in the Long Butte Unit. 2. The interest in the Rock Isl:.~nd Unit described on Page 5 of this Exhibit A shall include any and all rights accruing purs:2ant to ownership in the Rock Island Unit. 3. The interest in the W~lfDr~~w Unit described on Page 5 of this Exhibit A shall include any and all rights accruing purscant to ownership in the Wolf Draw Unit. 4. The interest in the Whiskey'Butte Unit described on Page 6 of this Exhibit A shall include any and all rights accruing pursuant to ownership in the Whiskey Butte Unit. 5. The interest in the Madden 'Unit described on Page 6 of this Exhibit A shall include any and all rights accruing pursuant':to ownership in the Madden Unit. 6. The interest in the Mesa U'nit described on Page 6 of this Exhibit A shall include any and all rights accruing pursuant., to ownership in the Mesa Unit. 7. The interest in the Cow Creek Unit described on Page 6 and 7 of this Exhibit'A shall include any and all rights accruing pursuant to ownership in the Cow Creek Unit. 8. The interests included in the wells and fields described on this Exhibit A in the Waltman 21- 19, James Creek and Marianne leases shall include any and all rights accruing pursuant to ownership in these leases.: 9. This Exhibit A has been :'~rovided by Donble Eagle Petroleum Co., formerly known as Double Eagle Petroleum ani.t Mining Company with the intent of providing colIateral for the attached mortgage. American National Bank has relied on the accUracy and completeness of the legal descriptions provided above. If the entire interest owned by Double Eagle Petroleum Co., formerly known as Double Eagle Petroleum and Mining Company in any of the wells, fields and units included in this Exhibit A is found to be ir: :error, it is the intent of the parties hereto to include all interests owned by Double Eagle 1~ ::troleum Co., formerly known as Double Eagle Petroleum and Mining Company as a par'! of the collateral. -7-