HomeMy WebLinkAbout896949~30169 (02)
AFTER RECORDING MAIl. TO:
Chase Manhattan
2180 S°uth 1300 East, Suite 580
Salt Lake City, Utah 84106
8969 9
Amendment to Mortgage
THIS AMENDMENT TO MORTGAGE (this "Amendment'') is made effective 20th
January 2004 between Steven W. Ellis ("Pledgor"), Sharla J. Ellis ("Borrower"), and CHASE
MANHATTAN MORTGAGE CORPORATION a/k/a CHASE HOME FINANCE INC.
("Lender").
RECITALS:
A. Borrower and Pledgor jointly own fee title to certain real property (the
"Property") that is located in Lincoln County, Wyoming and that is particularly described on the
exhibit that is annexed hereto.
B. Contemporaneously herewith, Borrower (alone) has executed and delivered to
Lender a Promissory note, home equity line of credit agreement or other debt instrument (the
"Note") evidencing Borrower's obligation to pay to Lender the principal sum of approximately
$155,000. Pledgor is not a maker of, or other obligor under, the Note.
C. Also contemporaneously herewith, Pledgor and Borrower, as co-trustors, have
executed and delivered to , as trustee, for the benefit of Lender, a
"Mortgage" (the "Mortgage") covering the Property to secure Borrower's obligation to repay the
Loan as provided in the Note.
D, The Mortgage identifies both Pledgor and Borrower as the borrowers under the
Loan, notwithstanding that Pledgor is not personally obligated under the Note. Instead, Pledgor's
only involvement in the Loan is as a hypothecator of Pledgor's interest in the Property (to secure
Borrower's repayment of the Loan as provided in the Note) through Pledgor's execution and
delivery of the Mortgage and this Amendment, all as contemplated by a "Pledge Agreement" of
even date herewith between Pledgor and Lender.
E. COnsequently, the parties desire to amend the Mortgage to correct the description
of the secured obligation and to correct any imPlication therein that Pledgor is a maker of, or
otherwise personally obligated under, the Note.
AGREEMENT:
· The parties hereto agree as follows:
I34
1. Amendment. Notwithstanding anything in the Mortgage to the contrary, (a)
Borrower Sharla J. Ellis is the sole maker of, and sole obligor under, the Note; (b) Pledgor is not
a maker of, or obligor under, the Note, and has no personal liability thereunder; and (c) Pledgor's
sole involvement with the Loan is as a hypothecator of Pledgor's interest in the Property (to
secure Borrower's repayment of the Loan as provided in the Note) through Pledgor's execution
and delivery of' the Mortgage and this Amendment, all as contemplated by a "Pledge Agreement"
of even date herewith between Pledgor and Lender. The Mortgage shall be deemed, and hereby is,
amended, accordingly to correct any such mistaken implication of Pledgor's status under the
Mortgage and with respect to the Loan and the Note.
2. No Other Modifications. Except as specifically so amended, the Mortgage shall
remain unchanged and in full force and effect.
DATED effective 20th January 2004.
PLEDGOR:
BORROWER:
Sharla J. Ellis
LENDER:
CHASE MANHATTAN MORTGAGE
CORPORATION aJk/a CHASE HOME
FINANCE INC.
STATE OF 0117L[4 )
COUNTY O~te~j~lzd-~ :ss)
I35
On.,~t~10-a'vlZd~ 200d-, personally appeared before me (~ ~J' ~l[t~
(Pledgor) ~-d~QI,/I,~.,.F{~t ,-'T', ~:-[L[g (Borrower), Who duly acknowledged to me that they
executed the foregoing AMENDMENT TO MORTGAGE
Not[{r~ PU¢~c' -
My Commission Expires:
STATE OF '( ),._--~'~-~ )
COUNTY OF~,7 )
Residing in:
F"~--~ > ~.'-5 200__~, personally appeared before
the ~-4~ ~-'~- of C~SE ~NHATTAN MORT~~-O~~ON ~a
CHAS~OME F~ANCE ~C., who~u~knowledge~o~a~he executed the
foregoin~AMENDMENT TO MORT ~GE on b~ If
' 1~~~ nOTA~VPUBUG-$YA~OFUYAH ~ ~ota. P~
My ~ ~~~XDI~8~:a~l' UT 84403 Residin~ in:
WST~C\O01
EXHIBIT A
Lot 8 of the Salt River Heights Subdivision, Lincoln County, Wyoming
debcribed on the official plat thereof.
LESS AND EXCEPT land as shown on murvey by Marlowe M. $cherbel, filed
December 8, ]993 as Instrument No. 775641 in the office of Lincoln
County Clerk, described as follows-
Beginning at the southwest point of said Lot 8 on the easterly right-of-
way line of Hillside Loop Road of said Subdivision;
thence N 38"59' E, 46 feet, along said'easterly right-of-way line
to a point;
thence S 54°35.0· E, 269.89 feet, 'to a point;
thence East, 284.66 feet, to a point on the east' llne of said
Section ]2;
thence South, the base hear'lng for this sur~ey and description,
531.31 feet, along the east line of said Section 12 to the
southeast corner of said NE}NE~;
thence N 39"17.8' W, 842.45 feet to the POINT OF BEGINNING.