HomeMy WebLinkAbout877063After Recordation mail to:
Delta Employees Credit Union
P,O. Box 20541
Atlanta, GA 30320-2541
Prepared by: Jo Prince
..................................... (Space Above This Line ¥or Recording Data) ....................................
LOAN MODIFICATION AGREEMENT
(Providing for Fixed Interest Rate)
LN# 323999-49
This Loan Modification Agreement ("Agreement"), made this 20TH day or'
OCTOBER~ 2001, between STEVE D. SCOFIELD AND DIANNA J. SCOFIELD
(Borrower") and DELTA EMPLOYEES CREDIT UNION, a Georgia Corporation
("Lender"), amends, and supplements (1) the Mortgage, Deed of Trust or Deed to Secure
Debt (the "Security Instrument"), dated JULY 14~ 2001 and recorded in Deed Book or Liber
469 and Pages 537-543, LIiNCOLN County, WYOMING Original Loan Amount
$100,000.00 Recorded on JULY 30~ 2001 and (2) the Note bearing the same date as, and
secured by, the Security Instrument, which covers the real and personal property described in
the Security Instrument and defined therein as the "Property," located at
244 BLACK MOUNTAIN LANE~ ALPINE~ WYOMING' 83128 (Property Address)
the real property described being set forth as follows:
SEE EXHIBIT "A" ATTACHED HERETO
~ MULTISTATE LOAN MODIFICATION AGREEMENT - Single Family - Fanny Mae Uniform Instrument
ELF-852U(9705) Form 3179 2/88
0 8 Jt
EXHIBIT "A"
po.c:ion e£ the ~2/2~2/~, Sac:lon 9~ ;3EEr ~Z19~, 6th P.H-z ~i~oln Caunty~
~yomtng and beth9 more ~arctoularly described aa gollow$~
Iron Pipe ~o~d~ thefloe ~outh 3JB.625 fee= to ~ Ir~ Pipe SeC~ thence ~eat
~orth l~e, ~3~9.07 f~e~ to ~e ~o~= of
· ..t 082
LN# 323999-49
In consideration of the mutual premises and agreements exchanges, the parties hereto agree as follows
(notwithstanding anything to the contrary contained in the Note or Security Instrument):
1. As of OCTOBER 20~ 2001 the amount payable under the Note and the Security Instrument
(the "Unpaid Principal Balance") is U.S. $/.~0~000.00 existing of the amount(s) loaned to the
Borrower by the Lender and any interest capitalized to date.
2. The Borrower promises to pay the Unpaid Principal Balance, plus interest, to the order of the
Lender. Interest will be charged on the Unpaid Principal Balance at the yearly rate of 7.50%,
from 8.125% The Borrower promises to SEMI-MONTHLY payments of principal and
interest of U.S..$.927.51 beginning on the 15TH day of NOVEMBER~ 2001, and continuing
thereafter on the same day of each succeeding month until principal and interest are paid in
full. If on 10/31/16, (the "Maturity Date"), the Borrower till owes amount under the Note
and the Security Instrument, as amended by this Agreement, the Borrower will pay these
amounts in full' on the Maturity Date. Thc Borrower will made such payments at Delta
Employees Credit Union, P.O. Box 20541, Atlanta, GA 30320-2541 - or at such other place
as the Lender may require.
3o If all or any part of. the Property or any interest in it is sold or transferred (or if a beneficial
interest in the Borrower is sold or transferred and the Borrower is not a natural person)
without the Lender's prior written consent, the Lender may, at its option, require immediate
payment if full of all sums secured by this Security Instrument. If the Lender exercises this
option, the Lender shall give the Borrower notice of acceleration. The notice shall provide a
period of not less than 30 days from the date the notice is delivered or mailed within which
the Borrower must pay all sums secured by this Security Instrument. If the Borrower fails to
pay these sums prior to the expiration of this period, the Lender may invoke any remedies
permitted by this Security Instrument without further notice or demand on the Borrower.
4. The Borrower also will comply with all other covenants, agreements, and requirements of the
Security Instrument, including without limitation, the Borrower's covenants and agreements
to make all payments of taxes, insurance premiums, assessments, escro~v items, impounds,
and all other that the Borrower is obligated to made under the Security Instrument; however,
the following terms and provisions are forever canceled, null and void, as of the date specified
in paragraph no. I 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
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LN# 323999-49
(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.
5. Nothing in this Agreement shall be understood or construed to be a satisfaction or
release in whole or in part of the Note and Security Instrument. Except as otherwise
specifically provided in this Agreement, the Note and Security Instrmnent will remain
unchanged, and the Borrower and Lender will be bound by, and comply with, all of
the terms and provisions thereof, as amended by this Agreement.
Signed, s.~al~[t, and delivered in the presence of:
Unofficial Wi~{~ess ............. /
~[ ~sVTEE~)i oS FC TOHFAI'~I~?v I N~TRU S T ~°~[~r,/2 6/98
N ,Jt sc Vib'ri ' (lc0- orrower
TRUSTEES OF T All. LIVING TI~dST DATED 1/26/98
On this 20TI!!I da), of OCTOBER, 20bl, before me, the subscriber, personally appeared STEVE D.
SCOFIELD and DIANNA J. SCOFIELD who I am satisified are the person(s) named in and within
instrument, and thereupon· acknowledged that THEY signed, sealed and delivered the same as THEIR act
and deed, for the purpose therein expressed.
(./~.
- ,' ~ Henry ~a~'ell, Vice-President . ':':',
Un3fficial Witness ' :,!,!~. ..........
On this 20rn day of OCTOBER ~ 2001, before me, the subscriber, personally appeared HENRY ' '~'
HARREIA. who, I am satisfied, is the person named in and who executed the within instrument, and
thereupon acknowledged that he signed, sealed and delivered the as his act and deed, for the purpose
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