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HomeMy WebLinkAbout955202Space Above This Line For Recording Data MODIFICATION OF MORTGAGE RECEIVED 8/30/2010 at 11:36 AM RECEIVING 955202 BOOK: 752 PAGE: 728 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY C 72 8 DATE AND PARTIES. The date of this Real Estate Modification (Modification) is July 14, 2010. The parties and their addresses are: MORTGAGOR: JAMES AND KRISTEN BULLIS FAMILY LLLP A North Dakota Limited Liability Limited Partnership PO Box 9199 Fargo, ND 58106 LENDER: ALERUS FINANCIAL, N.A. Organized and existing under the laws of the United States of America P.O. Box 6001 Grand Forks, ND 58206 -6001 1. BACKGROUND. Mortgagor and Lender entered into a security instrument dated April 22, 2009 and recorded on May 1, 2009 (Security Instrument). The Security Instrument was recorded in the records of Lincoln County, Wyoming at 10:24 A.M. as Document No. 946847 and covered the following described Property: Lot 9 of Indian Creek Subdivision according to the Plat filed September 22, 1994 as Plat No. 105 -A in the office of the County Clerk, Lincoln County, and State of Wyoming The property is located in Lincoln County at Alpine, Wyoming 83128. 2. MODIFICATION. For value received, Mortgagor and Lender agree to modify the Security Instrument as provided for in this Modification. The Security Instrument is modified as follows: A. Secured Debt. The secured debt provision of the Security Instrument is modified to read: (1) Secured Debts. The term "Secured Debts" includes and this Security Instrument will secure each of the following: (a) Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and replacements. A promissory note or other agreement, No. 704441005, dated April 22, 2009, from James and Kristen Bullis Family LLLP and JB Real Estate Investments, L.L.C. (Borrower) to Lender, with a loan amount of 153,935.83 and maturing on June 30, 2011. (b) All Debts. All present and future debts from James and Kristen Bullis Family LLLP and JB Real Estate Investments, L.L.C. to Lender, even if this Security Instrument is not specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes a commitment to make additional or future loans or advances. Any such commitment must be in writing. In the event that Lender fails to provide any required notice of the right of rescission, Lender waives any subsequent security interest in the Mortgagor's principal dwelling that is created by this Security Instrument. This Security Instrument will not secure any debt for which a non possessory, non purchase money security interest is created in "household goods" in connection with a "consumer loan," as those terms are defined by federal law governing unfair and deceptive credit practices. This Security Instrument will not secure any debt for which a security interest is created in "margin stock" and Lender does not obtain a "statement of purpose," as defined and required by federal law governing securities. This Modification will not secure any other debt if Lender fails, with respect to that other debt, to fulfill any necessary requirements or limitations of Sections 19(a), 32, or 35 of Regulation Z. (c) Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security Instrument. 3. CONTINUATION OF TERMS. Except as specifically amended in this Modification, all of the terms of the Security Instrument shall remain in full force and effect. James and Kristen Bullis Family LLLP Wyoming Real Estate Modification ND/ 4Xdeleake00149300006929005071610Y CoPn m' 1 1V--.1 4 L Wolters Kluwer Financial Services ©1996, 2010 Bankers SystemsTM Page 1 SIGNATURES. By signing, Mortgagor agrees to the terms and covenants contained in this Modification. Mortgagor also acknowledges receipt of a copy of this Modification. MORTGAGOR: James and Krist. His Fa 4'W ,T LLP By James R Bullis, General 'artner C 9 LENDER: Alerus Fina al, N. By Underwriter ACKNOWLEDGMENT. (Business or Entity) -o�La OF Voirrk A r OF r> J ss. This instrument was acknowledged before me thi d day of a.. 1 by James R Bullis as General Partner of James and Kristen Bullis Family LLLP. U .0 ZL.44 My commission expires: JENNIFER R. DEITZ Notary Public State of North Dakota My Commission Expires Sept. 18, 2013 JENNIFER R. DEITZ Notary Public State of North Dakota M Commission Expires Sept. 18, 2013 James and Kristen Bullis Family LLLP Wyoming Real Estate Modification ND/ 4Xdeleake0014 .4200006929005071610Y No'f ary Public) (Lender Acknowledgment) 1 OF %Sr t kkaa-IA �Qt, m t �.t OF rafry ss. This instrument was acknowledged before me this 1 day of Credit Underwriter as f.,1\ (3,}A, FAr of Alerus Fin ncial,JN.A.. My commission expires: (Not: ry Public) c 3I C by Wolters Kluwer Financial Services 0 1996, 2010 Bankers Systeme Page 2