The URL can be used to link to this page

Home My WebLink About918091 / UVf-..J..J ,..' ConiJÎ 6 .I ~t: "'"' ",_,,, (9f\ -- -----,--,--,,-~ - '.._~ --- --- ----~. WHEN RECORDED RETURN TO: Mountain West Small Business Finance 2595 East3300 South Salt Lake City, Utah 84109 RECEIVED 5/5/2006 at 2:11 PM RECEIVING # 918091 BOOK: 619 PAGE: 16 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ADDENDUM TO LEASE AGREEMENT ~ / This Agreement is entered into March 23, 2006 by and between Kenneth L. Cram and April Cram, husband and wife, as tenants by the entireties, Lessor, and Star Valley Quick Stop, Inc., Lessee. RECITALS A. Lessor and Lessee have heretofore executed and entered into a certain Lease Agree- ment dated May 1, 2004 (the "Lease"). B. The Small Business Administration (" SBA ") has authorized the guarantee of a deben- ture to be sold by Mountain West Small Business Finance in the amount of $522,000.00 to assist Lessor and Lessee pursuant to section 504 of the Small Business Investment Act of 1958, as amended (the "SBA Loan"). C. Lessor and Lessee desire to amend the Lease to satisfy all of the terms and conditions of the Loan Authorization and Guaranty Agreement for the SBA Loan. AGREEMENT ,,,,,,,,,' ",> Now, therefore, for the reasons recited éibove, and for other good and valuable consider- ation, the receipt and legal sufficiency of which is hereby acknowledged, Lessor and Lessee hereby agree as follows, anything to the contrary not withstanding: 1. The term of this Lease shall be equal to or longer than the term of the said SBA Loan. The monthly lease payment stated in this Lease shall continue in the same monthly amou- nt stated in the Lease throughout the term herein stated. 2. Lessor and Lessee hereby assign, set over, and transfer to the Small Business Admin- istration and Mountain West Small Business FhIance all of their right, title, and interest in and to this Lease, as security for said SBA Loan. 3. Lessor and Lessee hereby agree to maintain exactly the present ownership of both entities (both identity of owners and percent of ownership) during the entire term of said SBA Loan except for ownership changes of up to 5 per cent beginning six months after the SBA 504 Loan closes. 4. Lessor and Lessee agree that the amount of rent paid under the terms of the lease ,:~,~.r;'U';"'\..'·"'.": ,-" " " '~-:~:::\;1;<";·.!"",..., ...::. -~'.!r1''':;:''"_;-;.,'_~q:'O'.It"'¡"~;-''! ',' ~"_"'7 ...'·'.'.·,·.....·."1'1'1·...','".'. ,":l'~"""'~ ,..:P',.....,.,~...~,~...,.,..'.....'.'~.-..'.'.. .,_ .-.....,.:....., 'T -"" "_"'" -~...~..,.,',... t;i.::i¡:1;;:;:;;{~¡':;~.I:F¡i ~'¡)!Nt:·'!~if~ ~¡'!.~,y (1;~;::;~;'~h~tl ~i~, j'? ~il~~rMi~{;i , . ,'.' .., .j..........,.,.,. ,', '.' ,', " . .'.;', ,',.. " ''','''' "." ,: ,')1' ': ',',' .:', .;: ".' ': - c, 1.:";;':;" J: ':: ~ "::0::. "~:.I:"'! . ,..._." '...,·",·,·.·,·;·,·Cl...y,·,·,!.·· 0318091 ,..'·.>-f'~.~~c,J¡;;~ot1-·~...rn..'.:~I\'{t:',.·\'" " '.... I' ,:;~¡ ...'. ., - -', ,'...' ,.'. ,., ^,''',',',', ·'.I~t7., ...', . '. {'\ Ii 0 ," .0\ 7 \.; U U .t must be substantially the same as the debt service on the Third Party Lender Loan and the SBA 504 Loan together with an amount necessary to cover taxes and assessments, utilities and insur- ance and a repair/replacement reserve. The lease payment shall be reduced to the extent that it is in excess of the amount needed to meet the debt service and expenses. In the event there is more than one operating company under the terms of the SBA Loan, the lease payments of all operat- ing companies shall be considered together and shall be reduced, pro rata, in the event, when considered together, they are in excess of amount needed to meet the debt service and expenses above described. 5. The demised premises which is the subject of the Lease consists of all of those pre- mises and real property purchased in connection with the SBA 504 Loan and Authorization referenced above notwithstanding anything to the contrary in the Lease. In the event there is more than one operating company under the terms of the SBA Loan, the demised premises which is the subject of the Lease, when combined with the demised premises under the terms of the leases between Lessor and those other operating companies identified in the SBA Loan Authorization, consists of all of those premises and real property purchased in connection with the SBA 504 Loan and Authorization referenced above notwithstanding anything to the contrary in the Leases. DATED March 23,2006. LESSOR: ~am L- L -~ &-- LESSEE: STAR VALLEY QUICK STOP, INC. By: .~ ~ L· L Kénneth L. Cram, President ~I~~mmtj ·'I"'.r,J~I;':'·.~l':¡";;:';'·":';I.:I;¡::;';;'i.\J, ',--.1-;' ¡¡'.. ",;'~'''', :,),~,' ;':',.; ';' :'1 J~~"'~:¿~~!'tff¡....,-, 0918091 :~a:::i~~~~:::¡: ·:·:·:~a:l':~~:·i·:·' ':, ,f ·'~'~.!Itr."":i!6!'I"'r·.·, p.' '" .': '~;"lf¡:I~:t.~1.;,{·t¡;:~~:'~2~'_,1 n~¡,;·:;.;~t".i~,~..! ,~.' ',' _:'~' ',', . I,;. ':'~:!;!':¡':¡:I~.~.;':¡rlj"'i,,,,.,,,.,, ':1, ,.~! >~,.,:,:', ';';:":-.~ò!~~.;.):: LEASE ADDENDUM NOTARY PAGE STATE OF Wyoming COUNTY OF Lincoln ) :ss. ) rnLnn1. 8 ,. '-" ) l.l _ . The foregoing instrument was acknowledged before me this March 23, 2006 by Kenneth L. Cram and April Cram. I! SALLY L. MARTIN . Notary Public County of State .of Lincoln Wyommg I ¡ M; Commission Expires September 13. 2006 ~ .~~ STATE OF Wyoming COUNTY OF Lincoln ~~ l1fcviÚ Notary Publ' . ) :88. ) The foregoing instrument was acknowledged before me this March 23, 2006 by Kenneth L. Cram, President, Star Valley Quick Stop, Inc. ~/ Notary Pu ic MARTIN~Notary Public SALLY L. . State of County of wyoming Lincoln My C~is$IOn =e~P!",:s ~~~~~~~r 13. 2006 .~'- ffjøl~ / "+;o;~j.;.;'II:I:..,;o;o;._;.;.,:.:I;':·:"··,·_I/~ ':;";~'''~,' ""j'.~~'>'\2'r r.: :......,~~'1.., .., '..'.' !'1'.',·:":'-1"'~~' .' , .' ···1'.:.;.;.;.;.;1,.:11;1....... "-,!¡~;"~~..:~I(.'-L'')fI'~'U'F,.,:'!.,,'It.t··I·:~i..·';';~~.,- ~I, ' ."""")N··;:::;··O"'·'" :~.";.'" ...,,,....:-...... .,' ¡', I I 9 . - \,..1 . " 091.8091. ~h~bit- 'A De'scription: Parcel A Amended A portion of the properties as referred to in ·the Deed recorded in 8Dok 458PR on . Page 316, and in Book 447PR, on Page 314,-with the Office ofthe Cleric of Lincoln County, Wyoming, within the SE1J4 of Section 23, T34N, R119W, of the 6th P.M., Thayne, Lincoln County, Wyoming, the metes and bounds being more particularly desc:ribed as follows: BEGINNING at än-f·Juminum Cap on Iron Pipe marking a point in:the Ea,st Right- of-Way line of U,S. Highway 89, said Point of Beginning being 1 ,fi32.43 feet N20020'27''E, from the 8.l.M. type Monum~rit marking the Paul N. Scherbel RLS 164, 1986 location for the Southwest Comer of said SE1/4, also snid PoiFJ:t.of Beginning being, 2,60grgB feet N52°25'3S"W, from the B.L.M. type Monument marking the Paul N. Sc:herbel RLS 164, 1976 location for the Sout[ \east Comer of said SE1/4; then6e N23D·5B'43'W, along said East Right-of-Way Line, 147-48 feet to an Aluminum Cap on Iron Pipe marking the Southwest com.;¡r of the Thayne Village Ce.nter; thence N8So.01145"E along the South Line .)f said Thayne Village Center, 313.51 feet to an Iron Pipemarking a NorthwBst corner of Tract NO.2 - Dana Lands, of the Star ValleyChE,ese Corporation, proþer.y as referred to in the Deed recorded in Book 337PR, on Page 661, with said Office; thence SOD28'04"W,along a west line of said Tract No.2, 113.05 feet to aT) Aiurninum Cap on Iron Pipe; thehc;e S79°DO'05"W 256.18 feet to the Point of Beginning Description: Parcel B Amended A portion of the properties as referred to in the Deed recorded in Book 458PR, on Page 316, and in Book 447p·R, on Page 314, with the Office of the Clerk of Lincoln County, Wyoming, within the SE.1/4 of Section 23, T34N, R1; 9\1\{, of the 6th r.M:, Thayne, Lincoln County, Wyoming, the metes al}d bounds being more particularly described as,follows: BEGINNING at an Aluminum Cap on Iron Pipe marking a point in the East Right- of-Way line of U.S. Highway 89, said POÎnt of Beginning being 1,652.43 feet N20020'27''E, from the B.LM. type Monument marking the Paul N. Scherbel RLS 164 1986 location for the Southwest Corner of said SE1/4, also said Point of ' . Beginning being, 2,609.98 feet N52°25'38'W, from the B.LM. type Monument marking the Paul N: Scherbel RLS 164, .1976 location for the Southeast Corner of the SE1/4; thence N79°00'05/1E, 256.18 feet to an Aluminum Cap on Iron P.ipe marking a point in a West line of Tract NO.2 - Dana Lands, of the Star Valley Cheese Corporation property as referred to in the Deed recorded in Book 337PR, on Page 661, with said Office; thence Soo28'04''W, along said West line, 185,57 feet to an Iron Pipe, marking a comer of said Tract No.2; thence N89"24'52'W, along a line of said Tract No.2. 190.03 feet to an Iron Pipe marking a point in said East Right-of-Way line: thence N23°58'43"W, along said East Right-of-:Way, 147.48 feet to the Point of Beginning, r.III'r~t.l·'~¡ !:;:;~:;~:;¡~~:>:~, ~~~:~J