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AMENDMENT TO REAL ESTATE MORTGAGE
This Amendment to Real Estate Mortgage made this 1 <14 day of
2010, between the Town of Star Valley Ranch of Lincoln County, Wyoming, duly
organized municipality of that State, (hereinafter designated as "MORTGAGOR and the
State of Wyoming, Wyoming Water Development Commission, 6920 Yellowtail Road,
Cheyenne, Wyoming, 82002 (hereinafter designated as "MORTGAGEE
Witnesseth: That whereas the MORTGAGOR has heretofore executed and
delivered a certain promissory note, (hereinafter called "note dated on the 8th day of
July, 2009, in the original principal sum of NINE HUNDRED FIFTEEN THOUSAND ONE
HUNDRED TWENTY -SEVEN DOLLARS ($915,217.00), and as security for the
indebtedness evidenced thereby, executed and delivered to the MORTGAGEE a certain
real estate mortgage, (hereinafter called "mortgage of even date with the note for the
purpose of securing the payment thereof; and
Whereas, the mortgage has been recorded in the office of the Lincoln County Clerk
in Book 723, page 284, on the 24th day of July, 2009 as document number 948524, which
mortgage, mortgages and warrants certain property, personal, real and mixed, being
located and situated in the County of Lincoln, State of Wyoming, described as follows:
1. Storage tank, well, well connection, pipelines, and other
construction financed with Project funds as described in the Project
Agreement for the Town of Star Valley Ranch Water Supply Project entered
into by the parries on July 8, 2009, which Agreement is hereby incorporated
herein by reference and made a part hereof. Further all lands, easements,
access roads, structures, rights -of -way and all appurtenances of the
municipal and rural domestic water system, including all after acquired
property, to allow control and operation thereof. The storage tank to be
constructed d under the referenced Agreement is located in the NW 1 /4 of NE 1 /4
of Section 30 of Township 35 North, Range 118 West of the 6th Prime
Meridian, Lincoln County, Wyoming. The well and connection to be
constructed under the referenced Agreement is located in the SE of NE 1 /4
Section 6 of Township 34 North, Range 118 West of the 6 Prime Meridian,
Lincoln County, Wyoming;
2. The interest MORTGAGOR currently has or hereafter acquires
in the water rights recorded in the office of the Wyoming State Engineer as
follows:
Permit Number
U.W. 13319
U.W. 82826 (enlargement)
U.W. 82827 (enlargement)
U.W. 112130 (enlargement)
U.W. 90328
U.W. 112131 (enlargement)
STAR VALLEY RANCH WTR. SUPPLY
PROJECT MORTGAGE
Page 1 of 3
Priority Date
April 16, 1971
July 29, 1985
July 16, 1987
September 30, 1998
November 30, 1992
September 30, 1998 and;
3. The pledge and assignment of the MORTGAGOR of funds
Currently held and revenues generated by the operation of the water system,
in an amount sufficient to meet loan amortization requirements, and to
provide a sinking fund to meet repair and maintenance costs for the Project.
A certified copy of a resolution by MORTGAGOR authorizing the pledge and
assignment of funds currently held and revenues generated by the operation
of the water system, for repayment of the loan and establishing a sinking
fund is attac~hed hereto and incorporated herein by reference. A copy of the
MORTGAGOR'S Pledge and Assignment of Revenues is attached hereto
and incorporated herein by reference;
RJ04081 0/F
000652
RJ04081 0/F
x :653
4. Any and all permits required for construction of this Project and
subsequent operation and maintenance of the water delivery system. and;
Whereas, the parties hereto desire to make certain corrections and modifications in
the mortgage.
Now, therefore, in consideration of the premises and the agreements hereinafter
contained, and other good and valuable consideration, the parties hereto agree as follows:
That the mortgage be amended to reflect that it is given to warrant certain
property, personal, real and mixed being located and situated in the County
of Lincoln, State of Wyoming, to include storage tank, well, well connections,
pipelines, pump stations, spring development, storage tank purchase and
other construction as described in Amendment One to the Project Agreement
for the Town of Star Valley Ranch Water Supply Project entered into by the
parties on ,2010.
That the mortgage be amended to reflect that it is given to secure payment
of the sum of ONE MILLION SIX HUNDRED FORTY -EIGHT THOUSAND
THREE HUNDRED FIFTY DOLLARS AND ZERO CENTS ($1,648,350.00),
together with interest thereon at the rate of FOUR percent (4 per annum
on the unpaid balance according to the terms of that certain renewal
promissory note bearing even date herewith, given by MORTGAGOR to
MORTGAGEE which said renewal promissory note is hereby incorporated
herein by reference and made a part hereof.
The MORTGAGOR hereby authorizes MORTGAGEE to place a legend on the note
of July 8, 2009, to read as follows:
The mortgage debt hitherto evidenced by this promissory note is now
evidenced by a renewal promissory note dated A pc;1 f 1 Zalo in the
sum of $1,348,350 00 e:!�denc ng the unpaid balance of principa and interest
now due upon,said note. The mortgage securing this note now secures said
renewal note with alt the priorities enjoyed by said mortgage at its inception.
Except as hereby expressly modified or arnended the note and mortgage shall remain in
full force and effect.
THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK
STAR VALLEY RANCH WTR. SUPPLY
PRGJEC 17 ^STGAGE
„f 3
000 (654
IN WITNESS WHEREOF, the MORTGAGOR by and through its duly authorized
representatives, has hereunto set their hands and seal and the MORTGAGEE has caused
this instrument to be executed by its duly authorized officers on the day and year first
above written.
Attest:
renda Bauer, Town Clerk �l�, A 1„
STATE OF WYOMING
My commission expires
My commission expires
ss.
COUNTY OF LINCOLN
L N M
County of
Lincoln
NaTARY PUBLIC
p State of
Wyoming
My Commission Expires September 18, 2013
STATE OF WYOMING
ss.
COUNTY OF LARAMIE.
TOWN OF STAR VALLEY RANCH
Notary Public
20/3
The foregoing instrument was acknowledged before me
by J d Zf DDO to this
day of ia.c 2010.
Witness my hand and official seal.
Witness my hand and official seal.
WYOMING WATER DEVELOPMENT COMMISSION
By:
Mitchel T. Cottenoir, Chairman
id
Kent Shurtleff, Secretary
Th -,f•re ping instrument was acknowledged before me by
1i/,
this 71 of 2010.
MY COMMISSION B %PI
Notary Public
/).?D
STAR VALLEY RANCH WTR. SUPPLY
PROJECT MORTGAGE
Page 3 of 3
SUS N o
COUNTY OF
LARAMi@
RJ040810/F
and
NOTARY PUBLIC iyy
STATE OF
WYOMING
ES. JAN, 1 2014