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HomeMy WebLinkAbout947793PREPARED BY AND RETURN TO: Firm Solutions, LLC 9119 Corporate Lake Drive, Suite 300 Tampa, Florida 33634 ATTN: Jessica Benigni Loan Number: 0258420538 File Number: M09051694 RECEIVED 6/16/2009 at 2:31 PM RECEIVING # 947793 BOOK: 725 PAGE: 507 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 0OU!,507 LOAN MODIFICATION AGREEMENT (Providing for Fixed Interest Rate) This Loan Modification Agreement ("Agreement"), made this May 1, 2009, between JUSTIN L. BYBEE, and TRACEY M. BYBEE,. ("Borrower"), and Wells Fargo Bank, N.A. Successor by merger to Sheridan State Bank ("Lender"), amends and supplements (1) the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument"),dated August 30, 2005 and recorded on September 1, 2005, in Book 596 at Page(s) 290 Instrument No.911433, of the Official Records of Lincoln County, WY, and (2) the Note bearing the same date as, and secured by, the Security Instrument, which covers the real and personal property described in the Security Instrument and defined therein as the "Property", located at LOT 84 ALPINE MEADOW, ALPINE, WY 83128, the real property described being set forth as follows: LOTS 1 AND 2 OF THE FLYING P FAMILY EXEMPT SUBDIVISION AS SHOWN ON THE PLAT THEREOF ENTITLED "FLYING P FAMILY EXEMPT SUBDIVISION FOR BEN AND MARY PETERSEN AND DALE PETERSEN, TOWNSHIP 35 NORTH, RANGE 119 WEST, SIXTH P.M., LINCOLN COUNTY, WYOMING, SECTION 3, SW 1/4SE1/4", AS FILED IN THE OFFICE OF THE COUNTY CLERK, LINCOLN COUNTY, WYOMING. In consideration of the mutual promises and agreements exchanged, the parties hereto agree as follows (notwithstanding anything to the contrary contained in the Note or Security Instrument): 1. As of May 1, 2009, the amount payable under the Note and the Security Instrument (the "Unpaid Principal Balance") is U.S. $47,117.00, consisting of the amount(s) loaned to Borrower by Lender and any interest capitalized to date. 2. Borrower promises to pay the Unpaid Principal Balance, plus interest, to the order of Lender. Interest will be charged on the Unpaid Principal Balance at the yearly rate of 6.375%, from May 1, 2009. Borrower promises to make monthly payments of principal and interest of U.S. $305.13, beginning on June 1, 2009, and continuing thereafter on the same day of each succeeding month until principal and interest are paid in full. If on May 1, 2036, (the "Maturity Date"), Borrower still owes amounts under the Note and the Security Instrument, as amended by this Agreement, Borrower will pay these amounts in full on the Maturity Date. Borrower will make such payments at WELLS FARGO BANK, N.A. SUCCESSOR BY MERGER TO WELLS FARGO HOME MORTGAGE, INC., 1 Home Campus, Des Moines, Iowa 50328- 0001 or at such other place as Lender may require. t~.: 06508 3. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 4. Borrower also will comply with all other covenants, agreements, and requirements of the Security Instrument, including without limitation, Borrower's covenants and agreements to make all payments of taxes, 'insurance premiums, assessments, escrow items, impounds, and all other payments that Borrower is obligated to make under the Security Instrument; however, the following terms and provisions are forever canceled, null and void, as of the date specified in paragraph No. 1 above: (a) all terms and provisions of the Note and Security Instrument (if any) providing for, implementing, or relating to, any change or adjustment in the rate of interest payable under the Note; and (b) all terms and provisions of any adjustable rate rider or other instrument or document that is affixed to, wholly or partially incorporated into, or is part of, the Note or Security Instrument and that contains any such terms and provisions as those referred to in (a) above. lg /$14t~ m -1 (Seal) -Borrower _~Z~ (Date) TIN Yi 18 M1't11 o9 (Seal) -Borrower (Date) TRACES-3'G . BYBEE BORROWER ACKNOWLEDGMENT State of ts' County of c The foregoing instrument was acknowledged before me this 0 day of 12009, by JUSTIN L. BYBEE and TRACEY M. BYBEE who are personally known to me (or prided to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is are ubscribed to the within instrument and acknowledged to me that he/she ey xecuted the same in his/her eir uthorized capacity(ies), and that by his/her eir 'gnature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. (Seal) ae_ Notary Print Name: TERRA M. WADE Notary Public, State of ERRA M.. WADE My Commission Expires: ~ / 6 ommission ExpirNOTARYSEALMUSTBECOMPLETELYLEGIBLE. [CD,cemberO2,2010] -v-.. . . LENDER SIGNATURE Lender does not, by its execution hereof, waive any right it may have against any person not a party hereto. Lender Name: WELLS FARGO BANK, N.A. SUCCESSOR BY MERGER TO WELLS FARGO HOME MORTGAGE, INC. By: .1~Afe. 4!~p. r, V j? L o qly ✓©C~Um°~ *~"'`a ll~ (PRINTED NAME, Signature: LENDER ACKNOWLEDGMENT State of County of _ The f egoing instrurnent was acknowledged before me this Q IL day of )2009, by oLIR who is p ,Ol t rl of who is personally known to me. (Seal) • W3TA1?k P"-. ~B! 13 0C anruu11110"N Na{a rint Name: ` Notary Public, State of South Carolina My Comrnission Expires: (d • I- NOTARY SEAL MUST BE COMPLETEL Y LEGIBLE.