HomeMy WebLinkAbout878019 BORROWER LENDER
Shawn M. Bard The Bank 'of Jackson Hole
P.O. Box 30304 990 W. Broadway
Jackson, WY 83001 P.O. Box 7000
Jackson, Wy 83002
Address of Real Property: 795 Terrace Drive, Alpine, WY 83128
THIS MODIFICATION OF PROMISSORY NOTE AND MORTGAGE, dated the
12th day of December, 2001L is executed by and between Borrower and
Lender identified above.
A. On July 12, 2001, Lender made a loan ("Loan #99472") to
BorroWer evidenced by Borrower's promissory note ("Note") payable
to Lender in the original principal amount of One Hundred Twenty
Five Thousand Dollars ($125,000.00), which Note was secured by a
Mortgage executed by mortgagor for the benefit of Lender covering
the real property described on Schedule A below and recorded as
Document No. 874627 Filing date July 18, 2001 in 468 at page 801 in
Lincoln County, WY. The .Note and Mortgage and any other 'rel----~ted
documents are hereafter cumulatively referred to as the "Loan
Documents."
B. The parties have agreed to modify the Note and it is
'necessary to provide for a similar modification of Mortgage. The
parties agree as follows:
i. The parties acknowledge and agree that, as of December 12,
2001, the unpaid principal balance due under the Note was
125,000.00, and the accrued and unpaid interest on that
date was $1,789.37.
2. The Promissory Note and Mortgage are. further modified as
follows:
A) The principal amount of the loan is hereby increased
from $125,000.00 to $150,000.00.
B) Borrower agrees to pay the following fees associated
with this modification.
Interest to Dec. 12, 2001 $1,789.37
Increase in Title Ins. ':'~ $
Recording Fees $8.00
Modi.fication Fee (1% of new funds) $250.00
Total
3. Mortgagor represents and warrants that Mortgagor 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.
5. Mortgagor agrees to execute any additional documents whic~
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
which may be asserted againSt Lender by any of the
undersigned.
SCHEDULE A
Lot 238, Lakeview Estates, Incorporated, Lincoln County, Wyoming,
according to that plat-of record in the Office of the Lincoln
County Clerk.
SCHEDULE B None
BORROWER
Shawn M.. Bard
.......................... Acknowledgment
State of Wyoming)
)SS
County of Teton )
The foregoing instrument was acknowledged before me by
Shawn M. Bard
this ~:~-( day of h~_~.~,~[~.., i q~ /
Witness my hand and official seal.
~ / .' ~ ~.~ ~ ·
. ~otary Public
My commission expires: -
LENDER
~lly ~'Martin, Consumer Loan Officer
State of ~yomi. ng)
)ss
County of Teton )
On the /~ day of . ~OO/ ,
the .foregoing instrument was acknowledged before me by
Sally L Martin,_. who being by me duly sworn, did depose
and say that she is the Consumer Loan Officer of The
Bank of Jackson Hole , the corporation described herein
and which executed the foregoing; that he/she knows the
seal of said corporation; that the seal affixed to the
foregoing is such corporate seal; that it was so a~fixed
by order of the Board of Directors of said corporation,
, and that he/she signed his name thereto by like order.
Witness my hand and official seal.
My co~ission expires: ~/~-o~--