HomeMy WebLinkAbout907878 RECEIVED 4/25/2005 at 10:47 AM
RECEIVING # 907878
BOOK: 583 PAGE: 653
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
00653
MODIFICATION AND EXTENSION OF PROMISSORY NOTE #108496 AND
MORTGAGE
BORROWER LENDER
Alan W. Maki
Ann W. Maki
8200 Ginami Circle
Anchorage, AK 99516
The Bank of Jackson Hole
990 W. Broadway
P.O. Box 7000
Jackson, Wy 83002
Address of Real Property: 588 McNeel Road, Alpine, WY
THIS MODIFICATION OF PROMISSORY NOTE AND MORTGAGE, dated the
7th day of March, 2005, is executed by and between Borrower and
Lender identified above.
A. On January 12, 2004, Lender made a loan ("#108496") to
Borrower evidenced by Borrower's promissory note payable to Lender
in the original principal amount of $1,106,000.00, which Note was
secured by a Mortgage executed by mortgagor for the benefit of
Lender ~o~eting the real proPerty desCribed oh S~hedule A below and
recorded as Document No. 896801 with filing date January 24, 2003
in Book 546 at page 612 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 will be extended from July
12, 2005 to September 30, 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 the current
principal balance Of the loan is $1~135,300 and that the
interest balance as of April 15, 2005 is 6,513.45 due and
payable at the time of this modification.
3. The parties acknowledge and agree to increase the amount of
the loan by $335,425.00, to a total of $1,500,000.00.
4. Borrower agrees to pay a Loan Fee of $1,677.00, an
appraisal fee of $1,200.00i a recording fee of $250.00, a
flood determination fee of $18.00 and a title insurance fee
00654
of $427.00 for a total of $3,572.00 at the time of this
modification.
5. The next interest payment will be due May 15, 2005.
6. Borrower agrees to pledge additional collateral Of a second
mortgage on 8200 Ginami Circle, Anchorage, Alaska and other
terms and conditions as outlined in Loan CoK~itment Letter
dated APril 13, 2005.
7. Mortgagor represents and warrants that Mortgagor owns the
proPertY free ahd clear of any liens or encumbrances other
than the liens described on Schedule B Below.
8. Except as expressly modified herein, all terms and
conditions of the Loan Documents shall remain in full force
and effect. The partie~ hereby adopt, ~atify and confirm
these terms and conditions as modified
9. Mortgagor agrees to execute any additional doc~ents 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, defehSeS, setOffs or counterclaims of any nature
which may be asserted against Lender by any of the
undersigned.
Ann W. Maki
SCHEDULE A
Refer to exhibit 'A' Which is attached hereto and made a part
thereof.
SCHEDUL~ B
First Deed of Trust with Cit!nnortgage Inc., P.O. Box 9442,
GaitheiSbUrg, MD 20898 On 8200 Ginami Ci~Cle, AnChorage, Alaska
................................ Acknowledgment
State of ~Z~./)
County of a~.~ .~? ))SS
by Alan W. Maki and Ann W. Maki.
Witness my hand and official seal.
Notary Public
My commission expires: O//~/~ Y
00655
Doily Green
Notan/Public FayeLte Co. GH
My Comm. Erp. Jan. 5. 2007
T.~,NDER
K.M. LeVasseur
Vice President
Corporate Acknowledgmen~
State of Wyoming )
)ss
County of Teton )
On the ~O day of ~, ~ , 2005, the foregoing instrument was
acknowledged before me by KlM. LeVasseu~, who being by me duly sworn, did depose
and say that she is the Vice President of The Bank of Jackson Hole , the
corporation described herein and which executed the foregoing; that he/she knows
~he 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 ~dBL~C
My commission expires: ~ ',,~J~- C) ~'~
EXHIBIT "A"
00656
b~in~ mot'., panic'alarl:r de,mribad a~ follows:
N 8~'59'Ifl' E, 1070 f~et m ti~e West ba~ of ~e Salt Rive.-:
fou~w~d llong ~id d~er ba~ ~ follawi~ cour~:
~.49'~0' W, 215 f~
5 13'30' W, 430
S 20~11'~0" W, 2~8.14
S ~'30'~, W, 210 f~Q ' j ·
$14'~'4.1.' E, 210.62 ~t to.the W~ righ~f-w~y lin~ of a s~ foo~
a~w~mrly on ~ 2t0 foot ndimq cu~e alo~ ~ ~gh~mf-way 1~,
~.67 feat, (long chO~ bean S 21'55'53~ W, 96.79
S 87'30' W, 203.27
N 23~24' W, 250 fret;
N 12' W, 240
noahw~t~ly ~on/a 885 fao~ radius ~c to ~he leR a ~s~e of 489.3
N 46'19'20' E, 14.0~
~riy ~lu~ ~ ~33.0 t~at adios cu~c m ~c Ic~ 402.28
along i 3~ foot radim curve (long cllord N 12'34'~' E. 425.36
d~ia~e of 472.79 f~t to ~c poet.of begs.
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