HomeMy WebLinkAbout932908
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Due to a scribner's error in the previously recorded promissory note
in Book 667 Page 779 on August 3, 2007, Receiving #931846, this Corrective
Promissory Note is to be recorded and replace said note.
*******CORRECfIVE PROMISSORY NOTE*******
AMOUNT:
DATE OF LOAN:
MATURITY DATE:
BORROWER(S):
NOTEHOLDER(S):
$47,000.00
April_, 2007
12 years from date of Loan
Val E. Astle, Helen Astle
Chad Cazier
RECITALS
FOR VALUE RECEIVED, the undersigned VAL E. ASTLE and HELEN ASTLE, P.O.
Box 804, Afton,Wyoming 83110 (hereafter "Borrower") promises to pay Chad Cazier, of
8185 Hwy 238, Mon, County of Lincoln, State of Wyoming, (hereafter "Noteholder") or
order the principal sum of FORTY SEVEN THOUSAND DOLLARS AND NO CENTS
($47,000.00), payable to Chad Cazier (hereafter "Noteholder") in the following manner:
TERMS
A. Upon the execution of this Promissory Note ("Note") and Mortgage of even
date, the Borrower agrees and states that the Borrower owes the Noteholder the amount
of FORTY SEVEN THOUSAND DOLLARS AND NO CENTS ($47,000.00), and will pay the
Noteholder this amount plus interest, late charges and penalties, pursuant to the terms of
this Note and Mortgage of even date.
B. The principal amount of FORTY SEVEN THOUSAND DOLLARS
AND NO CENTS ($47,000.00), shall accrue interest at the rate of six (6%) percent per
annum, beginning on January 1st, 2013, until paid in full to the Noteholder. No interest
shall accrue until January 1st, 2013.
C. Dúring the term of this loan, the Borrower will pay to the Noteholder,
monthlypaymeI'1ts in the amount of SEVEN HUNDRED SEVENTY EIGHT DOLLARS AND
ZERO CENTS, over a six (6) year period and at the end of the six (6) year period, all the
principal, interest, penalties and late charges will be due and payable in full.
All rights to the use a/this document reserved by:
Bowers Law Firm, PC .
Post Office Box 1550
Afton, WY 83110-1550
307-885-1000
D. The Borrower shall make monthly payments, beginning on January 1st,
2013, based upon the six (6) year amortization schedule, which is attached hereto as
"Exhibit A" and made part of this document by reference and incorporation. The estimated
RECEIVED 9/7/2007 at 9:43 AM
RECEIVING # 932908
BOOK: 671 PAGE: 417
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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u00418
monthly payments will be SEVEN HUNDRED SEVENTY EIGHT DOLLARS AND NINETY
THREE CENTS($778.93) with the final estimated payment being SEVEN HUNDRED
SEVENTY EIGHT DOLLARS AND NINETY THREE CENTS ($778.93).
E. The Borrower may prepay the principal amount in whole or in part at any
time without penalty. Any partial prepayment shall be applied against the principal amount
outstanding and shall not postpone the due date of any subsequent annual installments or
change the amounts of such installments, unless the Noteholder shall agree in writing.
F. If c;¡.ny payment is made more than thirty (30) days after the date due, the
Borrower shall pay an additional one hundred fifty dollars ($150.00) in the form of a late
payment charge and penalty to the Noteholder.
APPLICATION OF PAYMENTS
Each payment I make on this note will first reduce the amount I owe you for charges
which are neither interest nor principal. The remainder of each payment will then reduce
accrued unpaid ¡interest, and then unpaid principal. If you and I agree to a different
,
application of payments, we will describe our agreement on this note. I may prepay a part
of, or the entire balance of this loan without penalty, unless we specify to the contrary on
this note. Any partial prepayment will not excuse or reduce any later scheduled payment
until this note is paid in full (unless, when I make the prepayment, you and I agree in
writing to the cdntrary) .
DEFAULT
I will be in default if anyone or more of the following occur: (1) I fail to make a
payment on time or in the amount due; (2) I fail to keep the property insured, if required;
(3) I fail to pay, br keep any promise, on any debt or agreement I have with you; (4) any
other creditor of mine attempts to collect any debt I owe him through court proceedings;
(5) I die, am declared incompetent, make an assignment for the benefit of creditors, or
become insolvent (either because my liabilities exceed my assets or I am unable to pay my
debts as they become due); (6) I make any written statement or provide any financial
information that is untrue or inaccurate at the time it was provided; (7) I do or fail to do
something which causes you to believe that you will have difficulty collecting the amount
I owe you; (8) a*y collateral securing this note is used in a manner or for a purpose which
threatens confistation by a legal authority; (9) I change my name or assume an additional
name without first notifying you before making such a change.
If I default on this note entire principal amount outstanding and accrued interest
thereon shall at once become due and payable at the option of the Noteholder. The date
specified shall not be less than thirty (30) days from the date such notice is mailed. The
All rights to the use a/this document reserved by:
Bowers Law Firm, PC
Post Office Box 1550
Afton, WY 83110-1550
307-885-1000
Page 2 of 6
,
·J00419
N oteholder may exercise this option to accelerate during any default by Borrower regardless
of any prior forbearance. If suit is brought to collect this note, the Noteholder shall be
entitled to collect all reasonable costs and expenses of suit, including, but not limited to,
reasonable attor.ney's fees.
~i
REMEDIES
If I am in default on this note you have, but are not limited to, the following
remedies:
(1) You may demand immediate payment of all I owe you under this note
(principal, accrued unpaid interest and other accrued charges).
(2) You may demand security, additional security, or additional parties
to be obligated to pay this note as a condition for not using any other remedy.
(3) You may use any remedy you have under state or federal law.
)
By selecting anyone or more of these remedies you do not give up your right to
later use any otJ;ier remedy. By waiving your right to declare an event to be a default, you
do not waive your right to later consider the event as a default if it continues or happens
agam.
WAIVER
I give up my rights to require you to do certain things. I will not require you to:
(1) de~and payment of amounts due (presentment);
(2) obtain official certification of nonpayment (protest); or
, ~.
(3) givé notice that amounts due have not been paid (notice of dishonor).
I waive any defenses I have based on suretyship or impairment of collateral. I agree
that presentment, notice of dishonor, and protests are hereby waived by all makers,
sureties, guarantors, and endorsers hereof. This note shall be the joint and several
obligation of alrmakers, sureties, guarantors, and endorsers, and shall be binding upon
them and their successors and assigns.
NOTICE
Any notice to Borrower provided for in this note shall be given by mailing such
notice by regular U.S. mail, postage prepaid, addressed to Borrower at the address stated
below, or to such other address as Borrower may designate by notice to the Noteholder.
,
All rights to the use of this document reserved by:
Bowers Law Firm, PC
Post Office Box 1550
Afton, WY 83110-1550
307-885-1000
c
Page 3 of 6
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Any notice to the Noteholder shall be given by mailing such notice by ~~guIãr1t~. mail,
postage prepaid, to the N oteholder at the address stated in the first paragraph of this note,
or at such other addr-ess as may have been designated by notice to Borrower. Notices are
deemed given on the date placed in the u.s. mail, postage prepaid.
BORROWERS
Val E. Astle & Helen Astle
P.O. Box 804
Afton, WY 8;3110
NOTEHOLDER
Chad Cazier .
P.O. Box 1751
Afton, WY 83110
MORTGAGE OF EVEN DATE
This debt evidenced by this Note is secured by a Mortgage of even date and
reference is made to the Mortgage for additional rights as to acceleration of the
indebtedness evidenced by this note. The terms of the Mortgage, of even date, executed by
the undersigned are incorporated into this document by reference and incorporation as if
fully set forth herein.
COLLECTION COSTS AND ATTORNEY'S FEES
I agreè to pay all costs of collection, replevin or any other or similar type of cost
if I am in defaul~. In addition, if you hire an attorney to collect this note, I also agree to pay
any fee you incur with such attorney plus court costs. To the extent permitted by the United
States Bankruptcy Code, I also agree to pay the reasonable attorney's fees and costs you
incur to collect this debt as awarded by any court exercising jurisdiction under the
Bankruptcy C01e.
OBLIGATIONS INDEPENDENT
I understand that I must pay this note even if someone else has also agreed to pay
it (by, for example, signing this form or a separate guarantee or endorsement). You may sue
me alone, or anyone else who is obligated on this note, or any number of us together, to
collect this note. You may do so without any notice that it has not been paid (notice of
dishonor). You Ìnay without notice release any party to this agreement without releasing
any other party; If you give up any of your rights, with or without notice, it will not affect
my duty to pay this note. Any extension of new credit to any of us, or renewal of this note
!
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,
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All rights to the use a/this docun¡ent reserved by:
Bowers Law Firm, PC
Post Office Box 1550
Afton, WY 83110-1550
307-885-1000
Page 4 of 6
f" ,~11 0' A' .,...;<~
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by all or less than all of us will not release me from my duty to pay it. (Of course, you are
entitled to only çme payment in full) I agree that you may at your option extend this note
or the debt repr~sented by this note, or any portion of the note or debt, from time to time
without limit or::notice and for any term without affecting my liability for payment of the
note. I will not assign my obligation under this agreement without your prior written
approval. '
SAVING CLAUSE AND CHOICE OF LAW
If any provision, or any part of any provision of this Note is invalid under the laws
of Wyoming, the provision in part thereof shall be ineffective to the extent of it's invalidity,
under the applicable law without invalidating the remainder of the provision or other
provisions of this Note.
This Note has been made and delivered in the State of Wyoming and shall be
construed in accordance with the laws of Wyoming.
I AGREE TO THE TERMS OF THIS NOTE
I have received a copy this note on today's date and have read it and agree to the
terms of this note evidenced by my signature. By signing this document I fully understand
and agree to the terms of this note and state that I owe the debt evidenced by this note.
I
DATED this :J:J
day of August, 2007.
J
(/ J ¿ oJ;!;
VAL E. ASTLE
I ~
,I stfu
·lkt7MÆ'~ ,.
. HELEN AS1i {
"
All rights to the use of this document reserved by:
Bowers Law Firm, PC
Post Office Box 1550
Afton, WY 83110-1550
307-885-1000
Page 5 of 6
STATE OF WYOMING
" >"0' .. ,t"">1i")
\.." IJ.... " ':1:,,(; ;w;:,.
)
) ss.
COUNTY OF LINCOLN )
The foregoing was acknowledged before me by VAL E. ASTLE, this ~d11Y
of August, 2007;
~~¿. ~
NOTARY PUBLIC
My commission expires: () -S 0 9
WITNESS my hand and official seal.
HEIDI BROWN· NOTARY PUBUO
County of . State of
Uncoln Wyoming
My CommIssion expires August 5, 2009
STATE OF WYOMING )
) ss.
COUNTI OF LINCOLN ) . ~
The foregoing was acknowledged before me by HELEN ASTLE, this ¿5i)
1
day of August, 2007.
WITNESS my hand and official seal. , / I _ Ý
~(cL, ~Mfi
; NOTARY PUBLIC
My commission expires: '0"'5",09
HEIDI BROWN· NOTARY PUBUC
State of
County of Wyoming
Uncoln
My Commission Expires August 5, 2009
All rights to the use of this document reserved by:
Bowers Law Firm, PC '
Post Office Box 1550
Afton, WY 83110-1550
307-885-1000
Page 6 of 6