HomeMy WebLinkAbout956997RECORDATION REQUESTED BY:
Wells Fargo Bank, National Association
Jackson West BBG
50 Buffalo Way
MAC C7832 -020
Jackson, WY 83001
WHEN RECORDED MAIL TO:
Wells Fargo Bank, National Association
Jackson West BBG
50 Buffalo Way
MAC C7832 -020
Jackson, WY 83001
SEND TAX NOTICES TO:
Wells Fargo Bank, National Association
Jackson West BBG
50 Buffalo Way
MAC C7832 -020
Jackson, WY 83001
MODIFICATION OF MORTGAGE
D
i
i
V
i
RECEIVED 12/2/2010 at 3:55 PM
RECEIVING 956997
BOOK: 758 PAGE: 218
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
i
I
200000000000000485
SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
i
00021
THIS MODIFICATION OF MORTGAGE dated October 22, 2010, is made and executed between Raymond R Maly,
whose address is 968 Cedar Creek Drive, Star Valley Ranch, WY 83127 and Betty L Maly, whose address is 968
Cedar Creek Drive, Star Valley Ranch, WY 83127 (referred to below as "Grantor and Wells Fargo Bank, National
Association, whose address is 50 Buffalo Way, MAC C7832 -020, Jackson, WY 83001 (referred to below as
"Lender
MORTGAGE. Lender and Grantor have entered into a Mortgage dated April 23, 2001 (the "Mortgage which has been recorded in Lincoln
County, State of Wyoming, as follows:
Recorded April 25, 2001 in the office of the Lincoln County Recorders office as instrument #872882.
REAL PROPERTY DESCRIPTION. The Mortgage covers the following described real property located in Lincoln County, State of Wyoming:
Lot 28 of Star Valley Ranch Plat 16, Lincoln County, Wyoming as descrived on the official plat thereof
The Real Property or its address is commonly known as 968 Cedar Creek Drive, Star Valley Ranch, WY 83127. The Real Property tax
identification number is 35183141002700.
MODIFICATION. Lender and Grantor hereby modify the Mortgage as follows:
The Principal Loan amount is hereby decreased to the amount of $53,452.60 and the Maturity Date of the Loan has been extended to
December 12, 2010. No further advances will be allowed. This is effective as of October 22, 2010..
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. I I 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 include any
dispute, claim 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, including 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),
notwithstanding any conflicting choice of law provision in any of the documents between the parties; and (ii) be conducted by the American
Loan No: 1740457163 (Continued) 00021.9 Page 2
MODIFICATION OF MORTGAGE
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 are 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 exclusion 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 alternative means for obtaining information is available.
F. 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 or related Documents 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 disclosures 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 repayment 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 Delaware law governs the Dispute, the following provision is included:
Confession of Judgment. Notwithstanding anything herein to the contrary, the arbitration requirement does not limit or preclude the right of
Lender to confess judgment pursuant to a warrant of attorney provision set forth in the Note or Related Documents. No party shall have the
right to demand binding arbitration of any claim, dispute or controversy seeking to (i) strike -off or open a judgment obtained by confession
pursuant to a warrant of attorney contained in the Note or Related Documents, or (ii) challenge the waiver of a right to prior notice and a hearing
before judgment is entered, or after judgment is entered, but before execution upon the judgment. Any claims, disputes or controversies
challenging the confession of judgment shall be commenced and prosecuted in accordance with the procedures set forth, and in the forum
specified by the applicable state rules of civil procedure or other applicable law.
H. Real Property Provisions.
If California law governs the Disputa, the following provisions are 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 Califomia Code of
Civil Procedure Sections 644 and 645.
MODIFICATION OF MORTGAGE
Loan No: 1740457163 (Continued) Page 3
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 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 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.
If Montana 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 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 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 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 OCTOBER 22, 2010.
GRANTOR:
Ray R nd R a nid1/
LENDER:
WELLS FARG BANK, NATIO L ASSOCIATION
X
Authorized 111 #er
X
000,220
Loan No: 1740457163
State of
County of
This instrument was acknowledged before me on
State of
County of
This instrument was acknowledged before me on
MODIFICATION OF MORTGAGE
(Continued) Page 4
INDIVIDUAL ACKNOWLEDGMENT
LENDER ACKNOWLEDGMENT
falate) by
000221
(date) by RaPIPNWINOMEIgeguiti Betty L Maly.
(Notarial Signature)
My commission expires:
(Notarial Signature)
My commission expires:
LASER PRO Lending, Ver. 5.52.20.003 Copr. Harland Financial Solutions, Inc. 1997, 2010. All Rights Reserved. WY
XALPROD\CFRLPL\G201.FC TR PR-767
WELLS
FAR,GO
Statte� of County of
r_llr)
go in of 1 Mat
On this day of ,W V mil b eer 20 (t) before me,
the undersigned Notary Public, personally appeared
L WlO ld P v icd I
Name of Signer(s)
O Proved to me on the oath of
O Personally known to me
Proved to me on the basis of satisfactory evidence Y U L 1 85 7 p7 3 3
(Description of ID)
to be the person(s) whose name(s) is /are subscribed to the within instrument, and acknowledged that he /she /they executed it.
WITNESS my hand and official seal.
Rodney R Davis
Notary Public
Pima County, Arizona
My Comm. Expires 07-6-2014
II
Optional
Though the information in this section is not required by law, it may prevent fraudulent removal and reattachment of this form to
another document and could prove valuable to persons relying on the document.
Description of Attached Document
Type or Title of Document
Document Date
Signer(s) Other Than Named Above
Notary Seal
Scanner Enabled Stores should scan this form
Manual Submission Route to Deposit Operations
DSG5350 (9-07 111677)
Acknowledgment by Individual
1
A
Number of Pages
1
1111 11 I 1111111
F001- 00000D S G5 350 -01
P ool ✓►ey R tatv)'
Name of Notary Public
ad,/
(Signature of Notary Public)
My commission expires 7/(0 24
1
i
i
000222
Right Thumbprint
of Signer
Top of thumb he