HomeMy WebLinkAbout907216 RECEIVED '"' ...... ' ,,
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RECEIVING # 907216
BOOK: 581 PAGE: 365
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
MODIFICATION OF PROMISSORY NOTE #110344 D/qD MORTGAGE
BORROWER LENDER
James Cort Watkins
Melissa K. Watkins
P.O. Box 10036
Jackson, WY 83002
The Bank of Jackson Hole
990 W. Broadway
P.O. Box 7000
Jackson, Wy 83002
Address of Real Property: Lot 1 Trail Ridge Subdivision, Lincoln
County, WY
THIS MODIFICATION and EXTENSION OF PROMISSORY NOTE AND
MORTGAGE, dated the 21st day of March, 2005, is executed by and
between Borrower and Lender identified above.
A. On June 2, 2004, Lender made a loan ("Loan #110344") to
Borrower evidenced by Borrower's promissory note ("Note") payable
to Lender in the original principal amount of $290,000.00, 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. 901031 Filing date July 14,
2004 in Book 561 at page 834 in Lincoln County, WY and all
Modifications of record. The Note and Mortgage and any other
related 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:
1. The maturity date of the Note is extended to July 2, 2005
at which time all outstanding sums due to the Lender under
the Note shall be paid in full.
2. The parties acknowledge and agree that on March 21, 2005
the principal balance 'of the loan was $290,000.00 and the
interest balance was $1,190.87 due and payable at the time
of this extension.
3. The parties acknowledge and agree to increase the amount
of the loan by $10,000.00, to a total of $300,000.00.
4. Borrower agrees to pay a Loan Fee of $100.00, Title Fee of
$175.00 and a recording fee of $11.00, for a total of
$1,476.87 at the time of this modification.
5. 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.
6. Except as expressly modified herein, all' terms and
conditions of the Loan DocLunents shall remain in full
force and effect. The parties hereby adopt, ratify and
confirm these terms and conditions as modified.
7. Mortgagor agrees to execute any additional documents which
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.
03
66
SCHEDULE A
Lot 1 of Trail Ridge Subdivision, Lincoln County, Wyoming,
according to that plat filed October 21, 2003 in the office of the
Lincoln County Clerk as Plat No. 255-E.
SCHEDULE B
None
BORROWER
J-~mes Cort Watkins
~Watk~.
............................... Acknowledgment
State of
County of
This instrument was acknowledged before me this 2\ day of
by James Cort and Melissa K. Watkins.
~V~~/~ , 2005
Witness my hand and official seal.
~-~ / Notary '
My commission expires: ?-/~--~J~/)
SALLY L. MARTIN~[~Notary Public
County of [~1~,~ State of
L ncoln ~ Wyoming
My Commissio. Exp res September 13, 2006
LENDER
Sally L. Martin
ConsUmer Loan Officer
Corporate Acknowledgment
Sta%e of Wyoming
County of
ss
On the day of , 2005, the foregoing instrument was
acknowledged before me by Sally L. Martin, who being by me duly sworn, did
depose and say that he is the Consumer Loan Officer of The Bank of Jackson
Hole , the corporation described herein and which executed the foregoing; that
h~he knows the seal of said corporation; that the seal affixed to the
foregoing is such corporate seal; that it was so affixed 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.
NOTARY PUBLIC
My commission expires: