HomeMy WebLinkAbout953698RECORDATION REQUESTED BY:
Wells Fargo Bank, National Association
Cody Main BBG
1401 Sheridan Ave
MAC C7835 -L10
Cody, WY 82414
WHEN RECORDED MAIL TO:
Wells Fargo Bank, National Association
CIO Real Estate Resource Center
260 Charles Lindbergh Dr, 2nd Floor, MAC U1240-025
Salt Lake City, UT 84116 -2812
SEND TAX NOTICES TO:
John E Douville
Elizabeth G (Bass) Douville
PO Box 3362
Alpine, WY 83128
MODIFICATION OF MORTGAGE
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200125564371900485
RECEIVED 5/27/2010 at 3:41 PM
RECEIVING 953698
BOOK: 748 PAGE: 99
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
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000099
THIS MODIFICATION OF MORTGAGE dated May 7, 2010, is made and executed between John E Douville, whose
address is 795 Dell Creek Road, Alpine, WY 83128 and Elizabeth G (Bass) Douville, whose address is 795 Dell
Creek Road, Alpine, WY 83128; husband and wife, as tenants by the entireties (referred to below as "Grantor
and Wells Fargo Bank, National Association, whose address is 1401 Sheridan Ave, MAC C7835 -L10, Cody, WY
82414 (referred to below as "Lender
MORTGAGE. Lender and Grantor have entered into a Mortgage dated March 20, 2007 (the "Mortgage which has been recorded in Lincoln
County, State of Wyoming, as follows:
Recorded March 26, 2007 in the office of the Lincoln County Recorders office as instrument 927830.
REAL PROPERTY DESCRIPTION. The Mortgage covers the following described real property located in Lincoln County, State of Wyoming:
See "Exhibit A" attached hereto
The Real Property or its address is commonly known as 795 Dell Creek Road, Alpine, WY 83128. The Real Property tax identification number
is 36191430021100.
MODIFICATION. Lender and Grantor hereby modify the Mortgage as follows:
The Borrower has requested certain modification to the Loan Documents and the Lender is willing to grant such modifications on the
following terms and conditions, provided that all conditions stated herein are satisfied, effective May 7, 2010 the maturity date of the Note
is hereby extended to June 30, 2010. With the understanding that scheduled payments shall continue to be due until the new maturity
date, at which time all unpaid principal, accrued interest, and any other unpaid amounts shall be due and payable in full. No additional
draws will be permitted under the Construction Loan Agreement.
CONTINUING VALIDITY. Except as expressly modified above, the terms of the original Mortgage shall remain unchanged and in full force and
effect and are legally valid, binding, and enforceable in accordance with their respective terms. Consent by Lender to this Modification does not
waive Lender's right to require strict performance of the Mortgage as changed above nor obligate Lender to make any future modifications.
Nothing in this Modification shall constitute a satisfaction of the promissory note or other credit agreement secured by the Mortgage (the
"Note It is the intention of Lender to retain as liable all parties to the Mortgage and all parties, makers and endorsers to the Note, including
accommodation parties, unless a party is expressly released by Lender in writing. Any maker or endorser, including accommodation makers,
shall not be released by virtue of this Modification. If any person who signed the original Mortgage does not sign this Modification, then all
persons signing below acknowledge that this Modification is given conditionally, based on the representation to Lender that the non- signing
person consents to the changes and provisions of this Modification or otherwise will not be released by it. This waiver applies not only to any
initial extension or modification, but also to all such subsequent actions.
FACSIMILE AND COUNTERPART. This document may be signed in any number of separate copies, each of which shall be effective as an
original, but all of which taken together shall constitute a single document. An electronic transmission or other facsimile of this document or
any related document shall be deemed an original and shall be admissible as evidence of the document and the signer's execution.
ARBITRATION AGREEMENT. Arbitration Binding Arbitration. Lender and each party to this agreement, hereby agree, upon demand by any
party, to submit any Dispute to binding arbitration in accordance with the terms of this Arbitration Program A "Dispute" shall indude any
dispute, daim or controversy of any kind, whether in contract or in tort, legal or equitable, now existing or hereafter arising, relating in any way
to any aspect of this agreement, or any related agreement incorporating this Arbitration Program (the "Documents or any renewal, extension,
modification or refinancing of any indebtedness or obligation relating thereto, induding without limitation, their negotiation, execution,
collateralization, administration, repayment, modification, extension, substitution, formation, inducement, enforcement, default or termination.
DISPUTES SUBMITTED TO ARBITRATION ARE NOT RESOLVED IN COURT BY A JUDGE OR JURY.
A. Governing Rules. Any arbitration proceeding will (i) be governed by the Federal Arbitration Act (Title 9 of the United States Code),
MODIFICATION OF MORTGAGE
e 001 1, 043
Loan No: 2133560529 (Continued) Page 2
notwithstanding any conflicting choice of law provision in any of the documents between the parties; and (ii) be conducted by the American
Arbitration Association "AAA or such other administrator as the parties shall mutually agree upon, in accordance with the AAA's commercial
dispute resolution procedures, unless the claim or counterclaim is at least $1,000,000.00 exclusive of claimed interest, arbitration fees and
costs in which case the arbitration shall be conducted in accordance with the AAA's optional procedures for large, complex commercial disputes
(the commercial dispute resolution procedures or the optional procedures for large, complex commercial disputes to be referred to herein, as
applicable, as the "Rules If there is any inconsistency between the terms hereof and the Rules, the terms and procedures set forth herein
shall control. Arbitration proceedings hereunder shall be conducted at a location mutually agreeable to the parties, or if they cannot agree, then
at a location selected by the AAA in the state of the applicable substantive law primarily governing the Note. Any party who fails or refuses to
submit to arbitration following a demand by any other party shall bear all costs and expenses incurred by such other party in compelling
arbitration of any Dispute. Arbitration may be demanded at any time, and may be compelled by summary proceedings in Court. The institution
and maintenance of an action for judicial relief or pursuit of a provisional or ancillary remedy shall not constitute a waiver of the right of any
party, including the plaintiff, to submit the controversy or claim to arbitration if any other party contests such action for judicial relief. The
arbitrator shall award all costs and expenses of the arbitration proceeding. Nothing contained herein shall be deemed to be a waiver by any
party that is a bank of the protections afforded to it under 12 U.S.C. Section 91 or any similar applicable state law.
B. No Waiver of Provisional Remedies, Self -Help and Foreclosure. The arbitration requirement does not limit the right of any party to (i)
foreclose against real or personal property collateral; (ii) exercise self -help remedies relating to collateral or proceeds of collateral such as setoff
or repossession; or (iii) obtain provisional or ancillary remedies such as replevin, injunctive relief, attachment or the appointment of a receiver,
before during or after the pendency of any arbitration proceeding. This exdusion does not constitute a waiver of the right or obligation of any
party to submit any Dispute to arbitration or reference hereunder, including those arising from the exercise of the actions detailed in sections (i),
(ii) and (iii) of this paragraph.
C. Arbitrator Qualifications and Powers. Any arbitration proceeding in which the amount in controversy is $5,000,000.00 or less will be
decided by a single arbitrator selected according to the Rules, and who shall not render an award of greater than $5,000,000.00. Any Dispute
in which the amount in controversy exceeds $5,000,000.00 shall be decided by majority vote of a panel of three arbitrators; provided however,
that all three arbitrators must actively participate in all hearings and deliberations. Every arbitrator must be a neutral practicing attorney or a
retired member of the state or federal judiciary, in either case with a minimum of ten years experience in the substantive law applicable to the
subject matter of the Dispute. The arbitrator will determine whether or not an issue is arbitratable and will give effect to the statutes of
limitation in determining any claim. In any arbitration proceeding the arbitrator will decide (by documents only or with a hearing at the
arbitrator's discretion) any pre- hearing motions which are similar to motions to dismiss for failure to state a claim or motions for summary
adjudication. The arbitrator shall resolve all Disputes in accordance with the applicable substantive law and may grant any remedy or relief that
a court of such state could order or grant within the scope hereof and such ancillary relief as is necessary to make effective any award. The
arbitrator shall also have the power to award recovery of all costs and fees, to impose sanctions and to take such other action as the arbitrator
deems necessary to the same extent a judge could pursuant to the Federal Rules of Civil Procedure, the applicable state rules of civil procedure,
or other applicable law. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction. The institution
and maintenance of an action for judicial relief or pursuit of a provisional or ancillary remedy shall not constitute a waiver of the right of any
party, including the plaintiff, to submit the controversy or claim to arbitration if any other party contests such action for judicial relief.
D. Discovery. In any arbitration proceeding discovery will be permitted in accordance with the Rules. All discovery shall be expressly limited to
matters directly relevant to the Dispute being arbitrated and must be completed no later than 20 days before the hearing date. Any requests for
an extension of the discovery periods, or any discovery disputes, will be subject to final determination by the arbitrator upon a showing that the
request for discovery is essential for the party's presentation and that no altemative means for obtaining information is available.
E. Class Proceedings and Consolidations. No party shall be entitled to join or consolidate disputes by or against others who are not parties to
this agreement in any arbitration, or to include in any arbitration any dispute as a representative or member of a class, or to act in any arbitration
in the interest of the general public or in a private attorney general capacity.
F. Miscellaneous. To the maximum extent practicable, the AAA, the arbitrators and the parties shall take all action required to conclude any
arbitration proceeding within 180 days of the filing of the Dispute with the AAA. No arbitrator or other party to an arbitration proceeding may
disclose the existence, content or results thereof, except for disdosures of information by a party required in the ordinary course of its business
or by applicable law or regulation. If more than one agreement for arbitration by or between the parties potentially applies to a Dispute, the
arbitration provision most directly related to the documents between the parties or the subject matter of the Dispute shall control. This
arbitration provision shall survive the rei5ayment of the Note and the termination, amendment or expiration of any of the documents or any
relationship between the parties.
G. State Specific Provisions.
If California law governs the Dispute, the following provision is included:
Real Property Collateral; Judicial Reference. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if
the Dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (i) the holder of the mortgage,
lien or security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any rights or
benefits that might accrue to them by virtue of the single action rule statute of California, thereby agreeing that all indebtedness and obligations
of the parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and
enforceable. If any such Dispute is not submitted to arbitration, the Dispute shall be referred to a referee in accordance with California Code of
Civil Procedure Section 638 et seq., and this general reference agreement is intended to be specifically enforceable in accordance with said
Section 638. A referee with the qualifications required herein for arbitrators shall be selected pursuant to the AAA's selection procedures.
Judgment upon the decision rendered by a referee shall be entered in the court in which such proceeding was commenced in accordance with
California Code of Civil Procedure Sections 644 and 645.
Small Claims Court. Any party may require that a Dispute be resolved in Small Claims Court if the Dispute and related claims are fully
within that court's jurisdiction.
If Idaho law govems the Dispute, the following provision is included:
Real Property Collateral. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if the Dispute
concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (i) the holder of the mortgage, lien or
security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any rights or benefits that
might accrue to them by virtue of the single action rule statute of Idaho, thereby agreeing that all indebtedness and obligations of the parties,
and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and enforceable.
MODIFICATION OF MORTGAGE
Loan No: 2133560529 (Continued) Page 3
If Montana law govems the Dispute, the following provision is included:
Real Property Collateral. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if the Dispute
concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (i) the holder of the mortgage, lien or
security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any rights or benefits that
might accrue to them by virtue of the single action rule statute of Montana, thereby agreeing that all indebtedness and obligations of the parties,
and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and enforceable.
If Nevada law governs the Dispute, the following provision is included:
Real Property Collateral. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if the Dispute
concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (i) the holder of the mortgage, lien or
security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any rights or benefits that
might accrue to them by virtue of the single action rule statute of Nevada, thereby agreeing that all indebtedness and obligations of the parties,
and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and enforceable.
If South Dakota law governs the Dispute, the following provision is included:
Real Property Collateral. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if the Dispute
concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (i) the holder of the mortgage, lien or
security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any rights or benefits that
might accrue to them by virtue of the single action rule statute of South Dakota, thereby agreeing that all indebtedness and obligations of the
parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and enforceable.
If Utah law govems the Dispute, the following provision is included:
Real Property Collateral; Judicial Reference. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if
the Dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (i) the holder of the mortgage,
lien or security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any rights or
benefits that might accrue to them by virtue of the single action rule statute of Utah, thereby agreeing that all indebtedness and obligations of
the parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and enforceable. If
any such Dispute is not submitted to arbitration, the Dispute shall be referred to a master in accordance with Utah Rule of Civil Procedure 53,
and this general reference agreement is intended to be specifically enforceable. A master with the qualifications required herein for arbitrators
shall be selected pursuant to the AAA's selection procedures. Judgment upon the decision rendered by a master shall be entered in the court in
which such proceeding was commenced in accordance with Utah Rule of Civil Procedure 53(e).
GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS MODIFICATION OF MORTGAGE AND GRANTOR AGREES TO ITS
TERMS. THIS MODIFICATION OF MORTGAGE IS DATED MAY 7, 2010.
GRANTOR:
,d 2
I Douville
ENDER:
WELLS FARGO BANK, NATIONAL ASSOCIATION
X
Elizabeth
(Bass) Douville
000
A(8 c620
Loan No: 2133560529 (Continued) C Page 4
State of
County of L v Cc(A 1
This instrument was acknowledged before me on 5 1 1 31 lb
State of W `1
County of
;'Y PUBLIC
We L GRIEF' STATE OF
Cigar cb' {a'', l yomING
dtl` A' r
Winona 9,2011
Mdy COT
This instrument was acknowledged before me on
SUE L Ci" ;F NOTARY PUBLIC t
COUNTY Of STATE OF
LINCOLN ti� WYOMING
WV COM1MISSlOt1OPINES OCTOBER 19, 2011
MODIFICATION OF MORTGAGE
INDIVIDUAL ACKNOWLEDGMENT
INDIVIDUAL ACKNOWLEDGMENT
(R)
(date) by John E Douville.
(Notarial Signature)
My commission expires:
(date) by Elizabeth G (Bass) Douville.
10--(9-/
cSw
(Notarial Signature)
My commission expires:
10 -19'-//
MODIFICATION OF MORTGAGE
Loan No: 2133560529 (Continued) Page 5
LENDER ACKNOWLEDGMENT
County of
This instrument was acknowledged before me on 5- I 10 (date) by
State of
Michelle D. Marano
County of
Park
M Commiss on Ex ires
(Not ial ignature
LASER PRO Lending, Ver. 5.49.10.002 Copr. Harland Financial Solutions, Inc. 1997, 2010. All Rights Reserved. WY
X: \LPROD \CFI \LPL \G201.FC TR- 115601 PR -690
E. oip1O3
CAcl L_ M i r-
My commission expires: 9 1-1 2
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EXHIBIT "A"
That part of Parcel 1 of Del Creek Ranches, being part of the West 1 /2 Southwest 1/4 of
Section 14, Township 36 North, Range 119 West, Lincoln County, Wyoming, being part
of•tllat tract,,of record.in the office of the ,Clerk of Lincoln County in Book 451 of
Photostatic Recclyds on page,503 and on Plat, No..341,described as follows:
Beginning at the Northeast coiner of said West 1/2 Southwest 1 /4;
Thence South 00°08'19" West, 375.00 feet, along the east line of said West %Z Southwest
1 /4 to a point; thence South 46°04'59" West, 841.00 feet to a point; thence South
12 °49'45" West, 298.81 feet, to a point on the northerly right of way line of Dell Creek
Road; thence South 64 °20'05" West, 33.32 feet, along said right of way line, to a point on
the West line of said Parcel 1;
Thence North 00°08'10" East, 1267.48 feet, along said west line, to the Northwest point
of said Parcel 1, marked by an aluminum cap monument inscribed "AVI PELS 2617"
Thence South 89 °43'30" East 700.10 feet, along the north line of said Parcel 1, to the
CORNER OF BEGINNING.
The BASE BEARING for this survey is the north line of the Southeast 1/4 of Section 15,
Township 36 North, Range 119 West, being North 89 °54'20' West;
Together with an access easement of record in said office in Book 367 of Photostatic
records on Page 180; each "corner" found as described in the corner record filed or to be
filed in the office of the Clerk of Lincoln County; each "point" marked by a 5/8" X 24"
steel reinforcing rod with a 2" aluminum cap inscribed, "SURVEYOR SCHERBEL LTD
AFTON WY PLS 53'68 with appropriate details;
All in accordance with the plat prepared to be filed in the office of the Clerk of Lincoln
County titled, "PLAT TO ACCOMPANY AMENDED (2) PARCEL DIVISION
APPLICATION FOR THE CAROL HOLDEMAN FAMILY TRUST, DATED 17 MAY
2000 WITHIN THE West 1 /2 Southwest 1 /4 Section 14 Township 36 North Range 119
West Lincoln County, Wyoming, dated 9 June 2004, as revised.
62999
O &EReport
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