The URL can be used to link to this page

Home My WebLink About935920 PROMISSORY NOTE AMOUNT: DATE OF LOAN: MATURITY DATE: BORROWER(S): NOTEHOLDER(S): $150,000.00 December 21,2007 January H, 2008 James V. Peterson and Sherrie L. Peterson Gaylon G. Heiner and Kristi G. Heiner RECITALS 000558 I FOR VALUE RltCEIVED, the u.ndersigned ,JAMES V. PETERSON and SHERRIE L. P.ETERSON, husband! and wife, of 765 Terrace Drive, Post Office Box 3160, Alpine, County of Lincoln, State of Wyoming, (hereafter "Borrower") promise to pay GAYLON G. HEINER AND KRISTIIG. HEINER, husband and wife, of 3549 County Road 123, Bedford, County of Lincoln, State of Wyoming, (hereafter tlNoteholder") the principal sum of ONE HUNDRED FIFTY THOUSAND DOLLARS AND NO CENTS ($150,000.00), in the fol1owing manner: I TERMS A. Upon the execution of this Promissory Note ("Note") and Mortgage of even date, the Borrower agrees and states that the BOlTower owes the Noteholder the amount of ONE HUNDRED FIFTY THOUSAND DOLLARS AND NO CENTS ($150,000.00), and wi]] pay the Noteholder this amount pursuant to the terms of this Note and Mortgage of even date. ""'t B. The principal amount of ONE HUNDRED FIFTY THOUSAND DOLLARS AND NO CENTS ($150,000.00), shaH be made in one payment as follows: C, The Borrower win pay the Noteholder all amounts due and owing which will be ONE HUNDRED FIFrY' THOUSAND DOLLARS ($150,000.00) (In January 11,2008. D. If any payment is made more than thirty (30) days after the date due, the Borrower shall pay an additional two hundred and fifty dollars ($2';0.00) 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 ß('WI1"S ÚJW OffiÚ P. (). Box J 55n Aflr.m., Wy 83J 10 Jf17-1j8S-nM RECEIVED 12/31/2007 at 2:00 PM RECEIVING # 935920 BOOK: 682 PAGE: 558 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY PaS' I of 6 / .JL --. --. ---. --.-- --.------- -- "-'.- -""" 000559 application of payments, we will describe our agreement on this note. I may prepay a part of, or the entire balance of tbis loan without penalty1 unless we specify to the contrary on this note. Any partial prepayment will not excuse or reduce any later scheduled payme~t until this note is paid in full (unless, when I make the 'prepayment~ you and I agree In writing to the contrary) . 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 insured1 if required; (3) I fail to pay, or keep any promise, on any debt or agreement I bave 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 unab]e 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 amoun.t I owe you; (8) any co1.l.ateralsecuring this note is used in a manner or for a purpose which threatens confiscation 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 shaH not be less than thirty (30) days from the date such notice is mailed. The N otehoIder may exercise this option to accelerate during any default by Borrower regardless of any prior forbearance, If suit js brought to collect this note, the Noteholder shall be entitled to collect all reaso.nable costs and expenses of suit, including, but not limited to, reasonable attorney's fees. 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 obhgated 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. ß()wørs Law Qf)ice P. O. JJ()c I $JO Aflon. wr 83110 3n7-88J-064 Page a of 6 000560 By selecting anyone or more of tbese remedies you do not give up your right to later use any other 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 again. WAIVER I give up my rights to require you to do certain things. I will not require you to: (1) demand payment of amounts due (presentment); (2) obtain official certification of nonpayment (protest); or (3) give 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 all makers, sureties, guarantors, and endorsers, and shan be binding upon them and their successors and assigns. NOTICE Any notice to Borrower provided for in this note sha]) be given by mailing such notice by regular U.S. mail, postage prepaid, addressed to Borrower lit the address stated below, or to such other adckess as Borrower may designate by notice to the Noteholder. Any notice to the Noteholder shall be given by mailin.g such notice by regular U,S, mail, postage prepaid, to the N oteho]der at the address stated in the first paragraph of this note, or at such other address 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 .James and Sherrie Peterson 765 Terrace Drive PO Box 3160 Alpi.ne, Wyoming 83128 NQTEHOLD~R Gaylon G. and Kristi G. Heiner 3549 County Road 123 Bedford, WY 83112 ßOWRrs Low Office P. o. no;r 1.'ijfJ -1/!OIl, JollY 8JI/fJ 3fJ7-885-fJ54 Pip,) of 6 --.--...---- --..-..- -,... . _.~.. .. .-- ..... 00056~ MORTGAGE OF EVEN DATE This debt evidenced by this Note is secured by a Mortgage of even date and reference is made to tbe Mortgage for additionaJ rights as to acceleration of tbe indebtedness eV.idenced 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 ATTORNEYS FEES I agree to pay all costs of collection, replevin or any other or similar type of cost if I am in default. 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 aJso agree to pay the reasonable attorney's fees aod costs you incur to collect this debt as awarded by any court exercising jurisdiction under the Bankruptcy Code. OBLIGATIONS INDEPENDENT I understand that r 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 may 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 \0\1111 not affect my duty to pay this note. Any extension of new credit to any of us, or renewal of this note by all or less than all of us will not release me from m.y du.ty to pay it. (Of course, you are entitled to only one payment in full) I agree tbat you may at your option extend this note or the debt represented 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 invaJid 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 othe~ 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. ßØW/lI'.' law OfficI P, O. Bf/x 1550 A/tOn. W}o' 83JJ() jf)7·88J-()(f.I Pnge .. of 6 000562 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. DATED~~ day of Decemher, 2007. ~~~~ JAMES V. PETERSON ~ ~'@fEJftJ7 ) SHERRIE L. PERSON Rowers /.,ow o'lJìce P. o. n'XJ: /Ho "firm, WY 8J /I 0 307-8R5·(}6.t 1;Ia¡esof 6 J.LI LÂI LUU' ..,"",..,""""..........- STATE OF UI'AH COUNTY OF '&lilll' lAKE ) ) 55. ) --,,-, -- - 000563 The foregoing was acknowledged before me by this 21R1- day of December, 2007· WITNESS my band and official seal. My commission expires: 10/04/2008 STATE OF UI'AH ) ) ss. COUNTY OF SAl][' lAKE ) The foregoing was acknowledged before roe by S this 21st d.ay of December, 2007. WITNESS my hand and official seal. My commission expires: ßowe,.,~ l.aw Q(fìçe P. 0. lJox J 5.50 A/Ion. WY 831/0 307-88.M)(j4 10/04/2008 Pøge6 of 6