HomeMy WebLinkAbout876673 NOTE AND MORTGAGE MODIFICATION AGREEMENT
This Agreement is made as of between Community First National Bank, havin its office at 1
W.,~Pearl Street, Jackson, WY 83 ..... g 60
2001. 001 (the Bank) and George J. Sm th th~s 12th day of October,
A. The Bank is the holder of the promissory note #7342856 dated January 19, 2001, payable to
the order of the Bank in the original principal amount, of $75,000.00. The Note provides for:
1 Interest only monthly with principal plus all accrued interest due at maturity. ,
As of the date hereof, the unpaid principle balance of the Note is $74,796.57.
B. To secure payment of the Note, the Mortgators have made a MOrtgage to the Bank, dated
January 19, 2001, subjecting to the lien thereof certain real estate located in Lincoln County,
to Community First National Bank (the "Mortgage"), more particularly described as follows:
Lots 12 & 13 of Buckskin Crossing Subdivision, Lincoln CountY, Wyoming as described on the
official plat thereof.
C. The Mortgage was filed, for record on January 25, 2001 in the office of the Lincoln County
Recorders as Document No. 870935 Register of Titles of the above in Book 458, page 597.
D. The Bank is willing to restructure repayment of the indebtedness evidenced by the Note in the
manner set forth below.
The proposed changes are acceptable to the Mortgagor. The Mortgagor acknowledges that
the Note and Mortgage are the legal and binding obligations of the person(s), who signed
them, free of any claim defense or offset.
Accordingly, in consideration of the premises and other good and valuable consideration, each
paid to the other, the parties hereto agree as follows:
1. The maturity date has been extended 90 days making the new maturity date
December 19, 2001.
2. Interest is due in the amount of $1198.79
3. A $6 recording fee to file modification.
The Note and Mortgage are each hereby deemed amended to the extent necessary to reflect
the changes set forth in paragraphs I 2, & 3. No other amendments are made to the Note
and Mortgage. '
Signed Sealed and delivered thi of.. 200(~ ~ k....~__
B orrow~,,,'~¢~~~
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LINde,.;....,, 00Ut',tTY CLERk
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STATE OF WYOMING ) 8
) SS.
., COUNTY OF TETON )
On this y of 2001, before me, a Notary Public, in and for said
county, and state, personally appeared George J. Smith proved to be the persons who COMMUNITY
FIRST NATIONAL BANK described in and who executed.the foregoing instrument, and
acknowledged to me that they [theY/she/he] executed the same,
r~ota.(:y'Public
My commission exp~ ~. ~(::;/~
Monty R~Erde
Vice-I~resident Community First Bank
State of Wyoming )
) SS.
County of Teton )
The foregoing instrument wa~ acknowledged before me by Monty Rhine this 12th day of October
2001, Wit~ess my hand anc~ ~fficial.seal.
No y p lic ~