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RECEIV"'~ A 1'.1/2007 at 4:47 PM
RECL..I v '1""" # 928111
BOOK: 653 PAGE: 359
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
000359
PROMISSORY NOTE
March 17, 2006
FOR VALUE RECEIVED, the undersigned, Matthew Maloney, a married man, hereafter
referred to as "borrower", hereby agrees to pay Steve Mings, a married man, hereafter
referred to as lender the principle sum of $75,000 together with interest as provided
below, payable at the time and manner set forth below.
1, This promissory note is given for the purpose of purchasing lot # 227 Lakeview
Estates Subdivision Alpine, Wyoming
2. Interest shall accrue daily on the unpaid principle balance under the agreement
and outstanding under this Promissory Note commencing on the date hereof at the
rate of 10% per annum. In the event this Promissory Note is paid in full prior to
the date listed below, there shall be a minimum fmance charge of $5,000 (five
thousand dollars and no cents). This finance charge is not a separate fee. The
finance charge shall only apply in the event the accrued interest amount is less
than $5,000.
3. Principle and interest as described above shall be due and payable in full on or
before May I, 2008.
4. This is an interest only note and no payments (principle or interest shall be due
until the maturation date of this note).
5. In the event payments are made prior to above maturation date, payments shall be
applied to the payment of accrued interest and then to the reduction of the
principle balance.
6. In the event that any payment under this Promissory note is not made in the time
or manner required, Borrower agrees to pay any and all costs which may be
incurred by Lender under this Promissory Note, including attorney fees and all
costs and expenses of collection.
7. This promissory note is secured by a deed of trust, of even date herewith,
executed by borrower, as Grantor, and covering certain real property situated in
Lincoln County, Wyoming.
8. This Promissory note is delivered in the State of Idaho and shall be governed by
and construed and enforced in accordance with the laws of said State.
Borrower:
Lender:
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Steve Mings
000360
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SIGNED AND AFFIRMED BEFORE ME THIS 20th OF MARCH, 2007.
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