HomeMy WebLinkAbout922368
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Please Return To:
GMAC Mortgage Corporation
Construction Lending Division
100 Witmer Road
Horsham, P A 19044
RECEIVED' 9/11/2006 at 3:24 PM
RECEIVING # 922368
BOOK: 633 PAGE: 488
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
.'
(Space Above this Line for Recording Data)
LOAN MODIFICATION AGREEMENT
(To Extend the Time for the Completion of Construction)
I .
This Loan Modification Agreement is made effective as of
March 29, 2006 by the undersigned
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I
("Bo~dwer"), in regard to that certain Mortgage Deed, Deed of Trust or Security Instrument (hereinafter
"Security Instrument") made by the BOlTower in favor of GMAC Mortgage Corporation, 100
Witmer Road, P.O. Box 963, Horsham, PA 19044-0963 ("Lender"), which is dated October 18,
2005 I and which secures the debt of the Borrower, as set forth in a Fixed Rate Promissory Note of
even ~~te therewith (hereinafter "Note") in the original principal amount of $ 237,600.00 against
the ptoperty of the BOITower located at
, ¡
!
OTTO W. NULLE
and
JACQUELINE NULLE
300 Mahogany Way, Thayne, Wyoming 83127
as more fully desclibed in said Security Instrument, and which Security Instrument is recorded at
Book ()f~)' loDl ,at Page(s) .-!lJ (
of the. ! Records of L 1 ~ ŒDLW'f-L L lDLIOU ¡...JCc--
I I (Name of Records) (County and State, or other Jurisdiction)
I WHEREAS, the Borrower wishes to extend the time for the Borrower to complete the
construction of the buildings or improvements that is set forth in the loan documents, including particularly
the Cdnstruction Rider To Promissory Note and Seculity Instrument, that was originally executed by the
BOITower and attached as a Rider to the Note, and that was recorded with such Security Instrument (both
copies of which are hereinafter referred to as "Construction Rider" and the Construction Loan Agreement;
and
WHEREAS, the Borrower wishes to extend the period for construction without the establishment
of a Delayed Construction Holdback Account at this time, but prefers instead to modify the executed and
recorded documents to exend the Construction Completion Date, without limiting or altering the right of
the Lender to establish the Delayed Construction Holdback Account at a future time, if the Lender shall
deem it necessary;
NOW THEREFORE, in consideration of One ($1.00) Dollar and other valuable consideration
and of the telIDS hereof, the parties hereto do hereby modify and amend the aforesaid Construction Rider
only as follows:
LOAN MODIFICATION AGREEMENT To Extend Construction Period - Single Family
WYOMING
588078105 -
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i i 1. The terms of the loan documents, Construction Loan Agreement and said Construction Rider
are helleby altered and amended to change the date described as the "Construction Completion Date"
from March 29, 2006 (wherever it appears therein) to September 28, 2006.
I 2. In accordance with the terms of paragraph 3 of the Construction Rider, as amended hereby, the
Borrower shall continue to make monthly payments of interest only, at the interest rate required under the
term's Of the Note, in an amount based upon the outstanding principal balance all as therein provided until
October 1, 2006. On November 1, 2006, the Borrower shall commence the payment of principal
and interest, in the amount of $1,595.58.
I '
i 3. Nothing contained herein shall limit or amend any of the the rights of the Lender in any way,
including without limitation, the right to establish a Delayed Construction Holdback Account at a future
time, if the Lender shall deem it necessary.
4. Except as modified hereby, the aforesaid Note, Security Instrument, Construction Loan
Agreement, Loan Documents and Construction Rider remain unchanged and in full force and effect, and
the modifications and amendments made herein shall not serve to extend or alter the final maturity date
described therein.
BY SIGNING BELOW, I accept and agree to the promises, agreements, terms and covenants contained in
this Loan Modification Agreement.
Witnesses:
(}z'4 I¿¿ 1t/i
OTTO W. NULLE '
-:::r~~ UuJÁJ¿
JACQU NE NULLE
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Seal)
-Borrower
(Space Below This Line For Acknowledgement)
STA TE OF WYOMING,
¿J''1(úJh
County ss:
Theforegoing instrument was acknowledged before me this S-U., (.) f ..Jè-,¡:Jif ~br-Y'/ :2. 0 t7C'
date
by
OTTO W. NULLE
and JACQUELINE NULLE
L ,2-6"lÎq
JEFFERY A. S1-RGAR .. NOTARY PUBUC
COUNTY OF STATE OF
LINCOLN WYOMING
MY COMMISSION EXPIRES A~ reJ, 21, Z liP.
LOAN MODIFICA nON AGREEMENT To Extend Construction Period - Single Family
WYOMING
588078105 ..
ZCjaPB
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IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as {¡fthe
day and year fIrst above written.
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STATE OF PENNSYLVANIA )
COUNTY OF MONTGOMERY )
Lith, 30th cl'yof Auqust
Notary Public in and for said State, personally appeared
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GMAC Mortgage Corporation
BY:
E R. RILEY
Vice President of Operations
AL)
ss. Harsham
, 200~, before me, the undersigned, a
ERNEST R RILEY
personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose
name is subscribed to the within instrument and acknowledged to me that he executed the same in his
capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the
individual acted, executed the instrument. '
WITNESS my hand and offIcial seal
(This area for OffIcial Notarial Seal)
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My Commission Expires:
COMMONWEALTH OF PENNSYLVANIA
NOTARIAL SEAL
JOANN T. Vall, Notary Public
Horsham Twp., Montgomery County
Commission Expires Se lember 9, 2007
(SEAL)
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