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891638
'BOOK 5~TPRPAGE 123
RECEIVED
tfNCOLN COUNTY CLERK
tLt q I NOTE AND MORTGAGE MODIFICATION AGREEMENT
Loan Number: 39636
This Agreement is made as of July 7, 2003 between Community First National Bank, having its
office at 200 N Center St, Rock Springs, WY (the "Bank") and Steven A. and Julie L. Stofferahn, Husband
and Wife ("Mortgagor") residing at 480 South Oak, Labarge, Wyoming 83123.
RECITALS
A. The Bank is the holder of a promissory note of Steven A. and Julie L. Stofferahn dated July 13, 1998
payable to the order of the Bank in the original principal amount of $33,605 ("Note"). The Note
provides for payment on demand, but if no demand is made, for principal and interest to be payable
together in installments with the last installment due and payable on July 10, 2003.
B. As of the date hereof, the unpaid principal balance of the Note is $21,158.51.
C. To secure payment of the Note, the Mortgagors have made a mortgage to the Bank dated July 13,
1998, subjecting to the lien thereof certain real estate located in Lincoln County, Wyoming (the
"Mortgage"), more particularly described as follows:
Lot 13, 14, 15 and 16 of Block 28 of the First Addition to the Town of Labarge, Lincoln County,
Wyoming.
D. The Mortgage was filed for record on July 21, 1998, in the office of the County Recorders of the
above named County as Document Number 851987.
E. The Bank is willing to restructure repayment of the indebtedness evidenced by the note in the
manner set forth below. The proposed changes are acceptable to the Mortgagor. The Mortgagor
acknowledges that tine Note and Mortgage are legal and binding obligations of the person(s) who
signed them, free of any claim defense or offset.
Accordingly, in consideration of the premises and other good and valuable consideration, each paid
to the other, the parties hereto agree as follows:
1. Effective as of the date hereof and until the Note is fully paid, the unpaid principal of the Note
shall bear interest at an annual rate of 9.000%.
2. For value received, I promise to pay you or your order, at your address, or at such other
location as you may designate, the principal sum of $21,445.51 (Principal) plus interest from
July 7, 2003 on the unpaid Principal balance until this Note matures or this obligation is
accelerated. I agree to pay this Note on demand, but if no demand is made, I agree to pay this
Note in sixty (60) payments. I will make fifty-nine (59) payments of $274.40 beginning on
August 10, 2003, and on the 10th day of each month thereafter. A singl~ "balloon payment" of
the entire unpaid balance of Principal and interest will be due on July 10, 2008. Each such
installment, when paid, shall be applied in payment of accrued interest and the balance thereof
shall be applied in reduction of the principal balance.
3. The Note and Mortgage are hereby deemed amended to the extent necessary to reflect the
changes set forth in Paragraphs 1 and 2. No other amendments are made to the Note and
Mortgage.
Signed, sealed and delivered in triplication this 7th day of July, 2003.
Sto~a~ortgagor
COMMUNITY FIRST ~ATIO~Ak
By:
Its:
I25
STATE OF L.~..~ ~,~C~pOC,._~'-t~A;
COUNTY OF ~l~,~)e_ ~O_~'L~.~Q~
On this ~ -~- day of .% L~ X ~ , r'~ OO"~ , before me a
and for said County and State, personally ~Dpeared .~:f(,..,~ ~ p, and
9¥0 ~-~('r,~_ ~, ~ , Husband and Wife, known to me to be the person_ wh
· descr bed n ~]nd Who'executed the foregoing instrument and acknowledged to me that
executed the same.
~R~Y NOTARY PUBLIC
SWEETWATER ~ STATE OF
COUNTY, ,,~ WYO~N~
MY COMMISSION E)~ ~IRES JULY 30, 2006
STATE OF
COUNTY OF
N",......~r y Public
Notary Public in
Onthis q ~ p~ers~0na~
day of , ¢-'~'-"T'b , before me a Notary Public in
and for s~ C~t~,-and State, appeared f'~r.,m ~~ and ~ ~
, known to meto bethe ~;ce -~~ and ~.~
of Community First National Bank, the corporation that ~ described in and that executed the foregoing
instrument, and acknowledged that such corporate executed the same.
U14649691-81C003
NOTE/PITG f'lOO AGR
REF~ 39G3G
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