HomeMy WebLinkAbout885416ORIGINAL
RECEIVED
:LINCOLN COt. JNTY CLERK
Cendant Mortgage Corporation
;3000 Leadenhall Road
RO, Box 5449
Mt, Laurel, NJ 08056
............................................. [Space Above This Line For Recording Data] ..............................................
BOOK ~PR PAGE. ~_ 2 ,',
Registration #: 0018367599
FIXED RATE LOAN MODIFICATION AGREEMENT :
This Fixed Rate Loan Modification Agreement ("Agreement"), made this 3__~0 day of SEPTEMBER., 2002,
between BARRY L DAYLEY, BRENDA B DAYLEY ("Borrower"), whose address is 247 JEFFI~RSON
AFTON, WY 83110 and PHH MORTGAGE SERVICES CORPORATION ("Lender"), whose address is 3000
LEADENHALL RD MT. LAUREL, NJ 08054 amends and supplements (1) the Mortgage, Deed of Trust or Deed t---~"
Secure Debt (the "Security Instrument") dated 4/19/02 and
recorded nt...., q - w--,.., ,. g o q
of the - i ~) ,
(Name of Records)
Records of LINCOLN WY (County and State. or other Jurisdiction), and (2) the Note, Adjustable Rate Rider, and "Rider to
Note for Construction Phase" 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
247 JEFFERSON AFTON, WY 83110 (?ropeny Address) the real property described being set'forth as follow:
,SEE LEGAL ATTACHED
In consideration of the mutual promises and agreements exchanged, the parties hereto agree as follows
(notwithstanding anything to the contrary contained in the Note or Security Instrument):
The first paragraph of the "Security Instrument" (Mortgage, Deed of Trust or Deed to Secure Debt) is
amended and supplemented as follows:
Borrower owes Lender the principal sum of ONE HUNDRED TWENTY THOUSAND AND 00/100 (U.S.
$120,000.00). This debt is evidenced by Borrower's Note dated the same date as this Security Instrument
("Note"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on
OCTOBER 01ST 2032.
FIX_ED RATE CONSTRUCTION LOAN MODIFICATION AGREEMENT (10/96) (pagel of 3)
(FRLM) 01/02
Paragraph 1 of the Note is amended and supplemented as follows:
1. BORROWER'S PROMISE TO PAY:
In return for a loan that I have received, I promise to pay U.S. $.120,000.00 (this amount is called
"principal"), plus interest, to the order of the Lender.
Paragi'aph2 of the Note is amended and supplemented as follows:
2. INTEREST
I will pay interest at a yearly rate of 6.30000%.
Paragraph3 of the Note is amended and supplemented as follows:
PAYMENTS
I will make my monthly payments on the 01st day of each On the'beginning on NOVEMBER 01ST
2002. If on, OCTOBER 01ST 2032 I still owe amounts under the Note, I will pay those amounts in
full on that date, which is called my "Maturity Date".
My monthly payment will be in the amount of U.S. $742.77.
Paragraph2 of the Rider to Note for Construction Phase is amended and supplemented as follows:
2. INTEREST:
During the first month(s) of the loan, interest will be charged on unpaid
principal. I will be charged interest only, at the initial rate of Prime + 1 percent Per annum on the
monies advanced.
Nothing in this Agreement shall be understood or construed to be a satisfaction or release in whole or in part of the
Note. Rider to Note for Construction Phase, Security Instrument, and/or Adjustable Rate Rider. Except as
°therv~i~-~"--*5-~-'--:~--'"-~--~--t'~'~~reement, the Note and Security Instrument will remain unchanged, and the
Borro~eP~t~rLl[~2~°~_ ~y,I{and comply with, all of the terms and provisions thereof, as amended by
this A~ree,g~*tx of tl~l~ State of -
(~ /~ ~:b, . .~/~ BRENDA B DAYLEY //~ ~ ,Borrower)
.... . . ...... (Borrower)
FIXED RATE CONSTRUCTION LOAN MODIFICATION AGREEMENT (10/96) (page 2 of 3)
(FRLM) 01/02
:135
INDIVIDUAL ACKNOWLEDGEMENT
STATE OF WY :
: SS.
COUNTY OF LINCOLN :
BE IT REMEMBERED, That on this "7 day of O'a'/~/o~.~ in the year Z~.',o 'z- before
me, the subscriber, a Notary Public of bt,' Va~,*fn ~s personally appeared BARRY L
DAYLEY, BRENDA B DAYLEY who I am satisfied /are the person(s) who signed the within instrument, and I
acknowledge that he/she/they signed, sealed and delivered the same as his/her/their voluntary act and deed. All of
which is hereby certified.
Sworn to and Subscribed
before me on this "~ dayofOc.~'~.cr ~ 0. o
/ Nota~Publ~c 'q.
CORPORATE ACKNOWLEDGEMENT
STATE OF NEW JERSEY, COUNTY OF BURLINGTON
ON /~/~1/~' L , before m~e, the.u~dersigned, a Notary Public in and for said state and county, personally
appeare, d ~ b/~-.~'/~q t~ 7'/~')//~a'/~< and /,~,a~/ /./~,~-,/~ff~/)~/E~ personally known to me or
provect to me on the basis of satisfactory evidence fo the Vice President and Assistant Secretary of the
CORPORATION that executed the within instrument, on behalf of the Corporation therein named,and
acknowledged to me that such Corp~)ration executed the within instrument pursuant to its by-laws Or resolution of
itsJ~gard of Dj~,ector~ Witness my-hand and official seal in the state and county last aforesaid.
Notary ~t~blic
FIXED RATE CONSTRUCTION LOAN IvlODIFICATION AGREEMENT
(FRLM) 01/02 w
EXHIBIT A
Legal Description for
Barry L Dayley and Brenda B. Dayley
Beginning at the Southwest comer of Lot 2 in Block 10 of the Alton Townsite, Lincoln County,
Wyoming and running thence East 198 feet;
thence North 118 feet;
thence West 198 feet;
thence South 11'8 feet to the place of beginning.