HomeMy WebLinkAbout870471PROWSWil NOTE 00 DEC 21 Fri 3: 08
JEANNE WAGNER
KEMMERER, WYOMING
$60,000 BOOK 1 �aP PR PAGE 5 51 Date: April 12, 1999
For value received the undersigned hereby jointly and severally promise to pay to the order of
Hermine Chernak the sum of Sixty Thousand Dollars ($60,000), together with interest thereon
at the rate of 6% per annum on the unpaid balance.
This loan is interest only on the, unpaid balance. The principle shall be repaid by Junel, 2009.
Interest payments will be paid monthly and will commence on May 1, 1999.
All payments shall be first applied to interest and the balance to principal. This note may be
prepaid, at any time, in whole or in part, without penalty. All prepayments shall be applied in
reverse order of maturity.
If any one or more of the provisions of this Note are determined to be unenforceable, in whole
or in part, for any reason, the remaining provisions shall remain fully operative.
All payments of principal and interest on the Note shall be paid in the legal currency of the
United States. Promisor waives presentment for payment, protest, and notice of protest and
nonpayment of this Note.
No renewal or extension of this Note, delay in enforcing any right of the Payee under this Note,
or assignment by payee of this Note shall affect the liability of the Promisor. All rights of the
Payee under this Note are cumulative and may be exercised concurrently or consecutively at
the Payee's option.
This Note shall be construed in accordance with the laws of the State of Wyoming.
Signed in the presence of:
Witness
E NOTARY PUBLIC
State of
Wyoming
Tres June 25, 2oU3
RECEIVED
CEIVED
LINCOLN COUNTY CLERK
ON APRIL 14, 2000 PERSONALLY APPEARED BEFOR ME, HERMINE CHERNAK WHOM :I
PERSONALLY KNOW AND WHO' IS ONE OF THE SI ATURES ON THIS PROMISSORY NOTE.
STEPHANIE DELL IVIE
A NOTORY FOR TETON COUNTY, STATE OF WYOMING
MY COMMISSION EXPIRES JUNE 25, 2003
April 16, 2000
We the undersigned would like it to be understood that Hermine Chernak has invested $100,000
into the house owned by Leslie and Susan McElroy. The address of this home is 63 Saddle Circle,
Nordic Ranches, Etna, WYO- 83118. The home was purchased on April 15, 1999. The total cost
of the home, when purchased was $305,000.
Also, Hermine Chernak is carrying an unregistered $60,000 interest -only second mortgage on this
home. Should death befall Leslie or Susan McElroy, OR UPON SALE OF THIS HOUSE,
Hermine Chernak is to be reimbursed for the following funds: When this home is sold,
Hermine Chernak will receive 32.8% of the gain (minus expenses) earned since the home's
purchase, plus her original investment of $100,000, plus payoff of her $60,000 loan.
*Reimbursement of funds to Hermine Chernak will take place on the following timetable. If
Leslie or Susan decide to sell the home, funds will be repayed to Hermine Chernak upon sale of
the home. If Leslie or Susan elect to keep the house, repayment will be made to Hermine Chernak
no later than 3 months following the death of Leslie or Susan.
Should Hermine Chernak die, her interest in this house will be dispersed as follows: the original
$100,000 invested in the house, plus Hermine Chernak's equity in the home, will be given to
Susan McElroy. The $60,000 loan is to be given to Hermine Chernak's estate, and distributed
equally between Julius Chernak (her son) and Susan McElroy.
//.0'-2.4-44 44 2 e "1-4-1
Hermine Chernak
State of Wyoming
s s
County of Lincoln
Witness my hand and official seal.
CLAUDIA ANDERSON NOTARY PUBLIC
a/ /('1.. 1 4''' ,rvn Couly of A State of
Notary Public Uncoin "��r Wyoming
My Commission Expires May 25, 2002
The foregoing instrument was acknowledged before me
by Leslie McElroy, Susan Mcelroy, and Hermine Chernak,
this 17th day of April, 2000.
My commission expires 5 -25 -2002
552