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MODIFICATION AND EXT~'~N~ION OF Iii ~,,'",, :: -,, ,.
PROMISSORY NOTE A~ MORTGAGE NO. 99896
BORROWER LENDER
Carl Brown Bank of Jackson Hole
Kelly Bass 990 West Broadway
P.O. Box 3404 P.O. Box 7000
Jackson, WY 83001 Jackson, WY'83002
Address of Real Property: 52 East Forest Drive ' t:~::-:o~
THIS MODIFICATION AND EXTENSION OF PROMISSORY NOTE AND
MORTGAGE g99896, dated the 27h day of November, 2001, is executed by and between
Borrower and Lender identified above.
A. On August 17, 2001, Lender made a loan ("Loan") to Borrower evidenced by
Borrower's promissory note ("Note").payable to Lender in the original principal amount of
One Hundred Seventeen Thousand Eight Hundred and No/100 Dollars ($117,800.00),
which Note was secured by a mortgage ("Mortgage") executed by Borrower for the benefit
of Lender covering the real property described on Schedule A below and recorded as
Document No. 875417, fried on August 21, 2001 of Book No. 471 of page 168 Lincoln
County,. Wyoming. The Note and Mortgage and any other related documents are hereafter
cumulatively referred to as the "Loan Documents."
B. The parties have agreed to modify and extend maturity date of the Note, and it is
necessary to provide for a similar modification and extension of the Mqr[gage. The parties
agree as follows:
1. The maturity date of the Note is extended to February 17, 2002, at which time
all outstanding sums due to Lender under the Note shall be paid in full.
2. The parties aclmowledge and agree that, as of November 27, 2001, the unpaid.
principal balance due under the Note was $103,653.55,-and the accrued and
unpaid interest on that date was $247.04.
3. The Promissory Note and Mortgage are further modified as follows:
(a) The. principle amount is increased to One. Hundred Twenty
Thousand Eight Hundred and No/100 Dollars ($120,800.00).
(b) The interest rate'is changed to a fixed rate of 8.0%.
(c) BorroWer agrees to pay the following charges, which are included in the
Ioan'amount: Loan fee of $75.00, Recording fee of $12.00 and interest to
November 27, 2001 of $247.04. .,
5. Borrower represents and warrants that Borrower owns the property free and
clear of any liens or encumbrances other than the liens described on Schedule B.
below.
' ' 4. Except as expressly modified herein, all terms and conditions of the Loan
Documents shall remain in full force and effect. The parties hereby adopt,
ratify and confirm these terms and conditions as modified.
6. Borrower agrees to execute any additional documents that may be required by
Lender to carry out the intention of this Agreement. As of the date of this
Agreement, there are no claims, defenses, setoffs or counterclaims of any nature
that may be asserted against Lender by any of the undersigned.
SCHEDULE A
Lot 16 of Star Valley Ranch plat Twenty-Two. (22) as platted and
recorded in the official records of Lincoln County, Wyoming.
SCHEDULE B
Refer to ParagraPh A on Page 1 of this Agreement.
BORROWER: '
Carl Brown
STATE OF WYOMING )
) SS.
County of Teton ) ~
On this ~,~-I day of November, 2001, before me, the undersigned, a notary public in and for
said Sate, personally appeared Carl Brown, knoWn or identified to me to be the person whose name is
subscribed to the within instrument, and acknowledged to me he executed the same.
IN WITNESS WHEREOF, I have thereunto set my hand and official seal the day and year in
this certificate first abOVe written.
My commission expires:,.~- ~ ,O 5 Notary Public
STATE OF WYOMING )
County of Teton )
On this ~'"'} day of November, 2001, before me, the undersigned, a notary public in and for
said State, personally appeared Kelly Bass, known or identified to me to be the person whose name is
subscribed to the within instrument, and acknowledged to me she executed the san~e.
IN WITNESS WHEREOF, I have thereunto set my hand and official seal the day and year in
this certificate first above written.
My commission expires: ~.~. ~, O~ Notary Public
LENDER:
K.M: ueVa~ear -
Vice President
STATE OF WYOMING )
) SS.
County of Teton )
On this 0,%'-') day of November, 2001, before me personally appeared Kathleen M.
LeVasseur, to me personally known, who, being by me duly sworn, did say that she is the Vice
President of Bank of Jackson Hole, and that the seal affLxed to said instrument is the corporate seal of
said eorporation, and that said instrument was signed and sealed on behalf of said corporation by
authority of its Board of Directors and said Kathleen M. LeVasseur acknowledged said instrument to
be the free act and deed of said corporation
Given under my hand and notarial seal this ~'"'/ day o~A.D. 2001.
My conunission expires:~. '~/o, tD~ - Notary Public
MOD~Fm^TIO8 ^~q~ EXTEUS~OS OF PRO~ISSOa¥ NO~E ~D MO
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