HomeMy WebLinkAbout904411 LINOOL.:' ',~"u~!.!Ty CLERK
MODIFICATION A/qD EXTENSION OF PROMISSORY NOTE #107832 AlqD
9 0 I I ': 5
BORROWER
Barbara Falk
Ladd J. Burmaster
350 Wooden Spur Drive
Alpmne, Wy 83124
The Bank of Jackson Hole
"90 I4. Broadway
~.O. Box 7000
J,-.~ckson, Wy 83002
Address of Real Property: 350 Wooden Spu}: Drive, Alpine, Wyoming
THIS MODIFICATION and EXTENSION )? PROMISSORY NOTE AND
MORTGAGE, dated the 1st day of November, 2004, is executed by and
between Borrower and Lender identified ab,)ve.
A. On October 21~ 2003, Lender ma(u-~ a loan ("Loan #107832")
to Borrower evidenced by Borrower's l:romissory note ("Note")
payable to Lender in the original pri~}cipal amount of Seventy
Thousand Dollars and no/100 ($70,000.00), which Note was secured
by a Mortgage executed by mortgagor f-on' the benefit of Lender
coverzng the real property described ~n Schedule A below and
recorded as Document No. 894831 Filing ~]ate October 28, 2004 in
Book 540 at page 250 in Lincoln County, WY. The Note and Mortgage
and any other related documents aro hereafter cumulatively
referred to as the "Loan Documents."
B. The parties have agreed to mod~ iy and ex~end the Note and
it is necessary to provide for a ~;~m~.lar modification and
extension of Mortgage. The parties agree .,s follows:
1. The maturity date of the Note is exnended to December 21,
2004 at which time all outstan(]ing sums due to Lender
under the Note shall be paid in ?~ull.
2. The parties acknowledge and agra-:,, uhaE, as of November 2,
2004, the unpaid principal bala~'~ due under the Note was
$69,989.30, and the accrued anti ~npaid interesE on that
date was $145.80, due at the tim~: ~f this extension.
3. The amount of the loan will be i ~reased by $50,000.00 to
$120,000.00. Borrower agrees t [~ay $100.00 loan fee,
$175.00 Title Insurance and a recording fee of $11.00.
4. Mortgagor represents and warrants Lhat Mortgagor owns the
property free and clear of any lio;~s or encumbrances other
than the liens described on Sche~l~]e B Below.
5. Except as expressly modified l~erein, all terms and
conditions of the Loan Documents shall re, hain in full
force and effect. The parties hoteby adopt, ratify and
confirm these terms and conditions as modified.
6. Mortgagor agrees to execute any ,-)dtEional documents which
may be required by Lender to c~zy out the intention of
this Agreement. As of the date [ this Agreement, there
are no claims, defenses, setoff~ or counterclaims of any
nature which may be asserted agall~sn Lender by any of the
undersigned.
SCHEDULE A
Lot 16 of the Greys River Village Second Addition to the Town of
Alpine, Lincoln County, Wyoming, accordi~, t ~o that plat filed July
22, 1994 in the Office of the CounEy 'i]erk as Instrument No.
787017.
SCHEDULE B None
o9o4Gil
BORROWER
.
............................... ~¢knowledgmenr
State of Wyoming )
)SS
County of~ )
The foregoing instrument was ackno~.
Barbara Falk this _~
day
Witness my hand and official seal.
/
./
/ \
............ AcknowledgmenE
)SS
County of...T.~-o~ )
The foregoing instrument
Ladd J. Burmaster this
Witness my hand and official seal.
.... ~ ~No%ary' Phtpl ic
My commission expires:
LENDER
-{,jedj,before .me by
'.~ .kl LY L MARTIN~lotary Public
County or ~1~.,~ State or
Lirmo,~ ~ Wyoming
t,,¥ Commission Expires September 13
.as acknowl~::lged before,me
Coun~ of ~ State of
Lincoln ~ Wyoming
My Commission Expl~ September 13,~)
ly L~~ar~'in, President
Corporate Acknowle~lument
State of Wyoming )
)ss
County of Teton )
0n the 2~ day of ~ i, ,."(' !'1 ~I~'~/ ~4 , the
foregoing instrument was acknowle~i'3'.~ b~{ore me by-Sally L. Martin,
who being by me duly sworn, did h-i)~se and say that she is the
Consumer Loan Officer of The ~,~[~k of Jackson Hole the
corporation described herein and wl~i.~.~ uxecused the foregoing; that
he/she knows the seal of said corp~ ion; that the seal affixed 5o
the foregoing is such corporate ~;~,, ; that it was so affixed by
order of the Board of Directors i said corporation, and that
he/she signed his name thereto by |..~]~ order.
Wisness my hand and official seal.
My commission expires: