HomeMy WebLinkAbout905104MODIFICATION OF PROMISSORY NOTE #1114880 AlqD MORTGAGE
BORROWER
Danny A. Durante
P.O. Box 7611
Jackson, WY 83002
LENDER
The Bank of Jackson Hole
990 W. Broadway
~.O. Box 7000
Jackson, Wy 83002
Address of Real Property: 1223 Saddle [1~ ive, Etna, WY 83118
THIS MODIFICATION and EXTENSION OF PROMISSORY NOTE AND
MORTGAGE, dated the 3rd day of December, 2004, is executed by and
between Borrower and Lender identified ~}~ove.
A. On October 26~ 2004, Lender m.~]e a loan ("Loan #111488")
to Borrower evidenced by Borrower's [:~romlssory note ("Note")
payable to Lender in the original pril~(-~[~al amount of one-hundred
and seventy thousand dollars and no/100 ($173,000.00), which Note
was secured by a Mortgage executed by r~,, ~:gagor for the benefit of
Lender covering the real property des~'~ i~ed on Schedule A below
and recorded as Document No. 904214 Fi 1 i~]g date November 1~ 2004
in Book 0571 at page 0249 in Lincoln County, WY. The Note and
Mortgage and any other related {ocuments are hereafter
cumulatively referred to as the "Loan Do~]ments."
B. The parties have agreed to modify and extend the Note and
it is necessary to provide for a ~J. milar modification and
extension of Mortgage. The parties agre~ ~s follows:
1. The parties acknowledge and ag~-~-~e thaE, as of December 3,
2004, the unpaid principal balan~':e on this line of credit
of $173,000.00 is $11,336.14.
2. The promissory note and mortga]e will be increased by
$20,000.00, from $173,000.00 to $193,000.00 to provide an
Irrevocable Letter of Credit #1114880.
3. Mortgagor represents and warra~,~:s thaE Mortgagor owns the
property free and clear of any ]~ens or encumbrances other
than the liens described on Sch~ {ule B Below.
4. Except as expressly modified herein, all tez~ns and
conditions of the Loan Documents shall remain in full
force and effect. The parties hereby adopt, ratify and
confirm these terms and conditi~l~s as modified.
5. Mortgagor agrees to execute any ~ditional documents which
may be required by Lender to ca~ry out the intention of
this Agreement. As of the date ~f this Agreement, there
are no claims, defenses, setof~-s or counterclaims of any
nature which may be asserted ao~inst Lender by any of the
undersigned.
SCHEDULE A
Lot 117 of Nordic Ranches Division No.%, Lincoln CounEy, Wyoming,
according to that plat filed October 4, ?000 as plat No.312-B
SCHEDULE B
None
RECEIVED 12/9/2004 at 10:44 AM RECEIVING# 905104
BOOK: 574 PAGE: 328
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER WY
BO OWER
D
nowledgmenr
State of Wyoming )
)SS
County of Teton)
The foregoing instrument was acknow]-- ~3ed before me by
Danny A. Durante this ~_ day .._~¢ ~ ~,~
Witness my hand and official seal.
Notary Public
My commission expires: ~-~
LENDER
., HEIDI EVN~. NOTAFh' ~
County O~ ~ State of ~
T~to~ ~? Wyoming ~
Corporate Acknowle~.lgment
State of Wyoming )
)ss
County of Teton )
On the ko day of/~ .... ~C)~ , the
foregoing instrument was acknowled3 ~ before me by K.M. Levasseur,
who being by me duly sworn, did de[.~~ and say that she is the Vice
President of The Bank of Jackson I{<~],~__, the corporation described
herein and which executed the fore3.~-~j; that he/she knows the seal
of said corporation; that the seal !fixed to the foregoing is such
corporate seal; that it was so ail izod by order of the Board of
Directors of said corporation,
thereto by like order.
Witness my hand and official seal.
NOTARY PUBLIC
My commission expires:
alut thee he/she signed his name