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HomeMy WebLinkAbout9085080('58© Recording Requested By: Wells Fargo Bank, N.A. Prepared By: BARRIE TRYBALSKI SPS 11601N BLK CANYON HWY PHOENIX, AZ 85029 602-328-2200 After R~ordingpleaseremrnto: Wells Fargo Bank, N.A. P. O, BOX 31553 BILLINGS, MT 59102 DOCUMENT MANAGEMENT RECEIVED 5/18/2005 at 10:35 AM RECEIVING # 908508 BOOK: 585 PAGE: 583 JEANNE WAGNER LINCOLN. COUNTY CLERK, KEMMERER, WY State of NYOMING {Space Above This Line For Recording Data}. Reference#: 20050967400389 Account#: 0654-654 ~6063217 -1998 MORTGAGE MODIFICATION AGREEMENT This Modification is made this 13 t h day of Wel Is Fargo Bank, N.A, (the "Bank") and Name(s) of borrower(s) t_AEL L. ALt_RED (the "Borrower") Name(s) of borrower(s) CHR 1 SI 1NA K. (the "Borrower") Name(s) of borrower(s) (the "Borrower") Name(s) of borrower(s) (the "Borrower") Name(s) of borrower(s) (the "Borrower") Name(s) of borrower(s) (the "Borrower") and LAEL L. ALLRED Apr I 2005 between ALLRED WY, 83118 Name(s) of mortgagor(s)/tmstor(s) (the "Mortgagor") residing at 51 -/7 P 0 B 0 X E T N A Address and CHRISTINA K. ALLRED and Name(s) of mortgagor(s)/trustor(s) Name(s) of mortgagor(s)/tmstor(s) Name(s) of mortgagor(s)/trustor(s) Name(s) of mortgagor(s)/trustor(s) Name(s) of mortgagor(s)/trustor(s) and and and EQ360A (12/2004) modifies an original Mortgage (i) dated 04 / 2-1 / 2004 (together with any modifications to it made prior to the date of this Modification), (ii) which was executed to secure a home equity line of credit agreement ("Line of Credit") dated 04 / 2'7 / 2004 ., in the original maximum principal amount of $ 25,000. O0 with a maturity date of 0412-112044 , and payable to the order of We l Is Fargo B~nk, N.A. (iii) which is recorded in Book/Roll 555 at page(s) 832 of the COUNTY of L I NCOLN County, State of WYOMI NG as document No. 8 g§422 , (iv) in connection with the filing of which, a mortgage registry tax was paid to the Treasurer of said 00 UN T Y in the mnount of $ N / A on N / A and that Treasurer has placed his or her stamp on the Mortgage, said stamp bearing the number N / A and (v) which affects the rights with respect to the collateral defined therein as the "Property" which is located at -111 ROCK FARM RD ETNA, WY 83118 and is described as follows: SEE ATTACHED EXHIBIT 361g0210042200 This Modification further modifies the Line of Credit to reflect certain changes to the Borrower's revolving Line of Credit with the Lender that is secured by the Mortgage and the Borrower/Co-Grantor acknowledge that the Line of Credit and Mortgage are valid and enforceable and represent the Borrower's/Co-Grantor's legal and binding obligations, free and clear of any claim, defense or offset. Agreement Accordingly, in consideration of the premises and other good and valuable consideration, each paid to the oilier, the parties to this Modification agree to as follows: Change in Credit Limit. The BOrrower/Co-Grantor hereby agrees that the maximum available principal amount of the Line of Credit is now $ 32,000.00 and that the lien of the Mortgage shall secure the Line of Credit up to that an]cunt as it is advanced and outstanding from time to time. Each reference in the Mortgage to the maximum amount of the line of credit is hereby amended to the extent necessary to reflect the increased maximum amount of the line of credit. Each reference in file Mortgage to the "Line of Credit" shall be deemed on and after file date of this Modification to refer to the Line of Credit as it is now amended by the Modification, together with any future extensions, modifications, or renewals thereof. The lien of this Mortgage shall continue to secure the revolving Line of Credit, which is now evidenced by the modified Line of Credit. Extension of Maturity Date. The Borrower hereby agrees that the revolving Line of Credit will terminate and the entire unpaid principal balance outstanding on the Line of Credit, together with any unpaid finance charges and other charges, will be due and payable in full on N/A . Until such date, the Borrower agrees to make the monthly payments as disclosed in the Line of Credit. ce hereby agrees the daily periodic rate will be ['~ increased Charge/Margin. Tile Borrower that decreased to 1/365 or 1/366 during leap years of N / A % over the "Index Rate" which is sed in the Line of Credit. EQ360B (12/2004) '.. L~ U J 0 ,,J ['~--~ Rescission. The Bo~ower/Co-O~tor ~s exercised ~eir ~bt to rescind o~e Line of Credi~ rot pu~oses other ~ to p~chase ~e Prope~. Therefore, ~e Mortgage ~d Line of Credit ~e hereby modified to close the Line of Credit, to li~t ~e "Secured Debt" to $ N / ~ as it relates to the L~e of Credit ~d to delete all ~ders a~ached to ~e Mortgage as ~ey may relate to ~ open-end line of credit. The following terms and conditions apply regardless of which boxes are checked above: All original terms and conditions of the Line of Credit and Mortgage (including any previous modifications) remain in full force and effect, except as modified by this Modification, and the Borrower/Co-Grantor agrees to be bound by and to perform all of the covenants and agreements in the Line of Credit and Mortgage at the time and in the manner therein provided. The Borrower agrees to pay or reimburse the Lender for any and all fees payable to public officials in connection with this Modification, and the recording hereof, including any Mortgage registry tax that may be due. This Modification does not increase or extend any revolving credit insurance Borrower purchased in connection with the Line of Credit. Credit insurance means credit hfe, credit accident and health and/or credit disability insurance. The Borrower agrees that the Lender may make certain changes to the terms of the Line of Credit at specified times or upon the occurrence of specified events. The Lender may make insignificant changes, such as changes in the address for payments, billing cycle dates, payment due dates, day of the month on which index values are determined, index or interest rate rounding rules, and balance computation method (if the change produces an insignificant difference in the interest the Borrower will pay). The Lender also may make changes that will benefit the Borrower, such as additional options or a temporary reduction in rates or fees. In accordance with federal law, the Lender also may change the index and margin the Lender uses to determine the annual percentage rate if that index is no longer available. The Lender can make any of these changes discussed above without the Borrower's consent, unless state law provides otherwise. The Lender will give the Borrower notice of any change tthat is required by law. The Lender also can make changes that the Lender and Borrower agree to in writing. Co-Grantor Liability. Any party that signs below as a "Co-grantor" did not execute the Line of Credit but signs to grant and convey, under the terms of the Mortgage, such interest as that party may have in the Property. Such party is not personally obligated to pay the debt evidenced by the Line of Credit and this Modification and secured by the Mortgage (as renewed, extended, and amended hereby), and agrees that Lender and Borrower may agree to extend, modify, forbear or make any accommodations with regard to such debt or the Mortgage (as renewed, extended, and amended hereby) without such party's consent. NOTICE TO CONSUMER (For purposes of this notice, "Consumer" and 'T' refer to the Mortgagor) THIS IS A CONSUMER CREDIT TRANCSACTION. I understand that: · I should not sign this agreement before I read the entire document, even if otherwise advised. · I should not sign this if it contains any blank spaces. · I am entitled to an exact copy of this and any other agreement I sign. · I have the right to prepay the unpaid balance due under this agreement at any time without penalty; and I may be entitle to receive a refund of unearned charges in accordance with the law. EQ360C (12/2004) 00580 IN WITNESS WHEREOF, the Borrower/Co-Grantor and Lender have executed this Amendment as of the day and year first above written. Wells Fargo Bank, N.A. Name of. Bank b~rq'R1SllNi¢~. ALLRE~) ' Mortgagor/Trustor Mortgagor/Trustor Mortgagor/Tmstor Mortgagor/Tmstor Mortgaggrfl'rust$~7 ~ / ~ ID'l"l~lbl INA'~a'~'. ALLN~U Bo~ower Bo~ower Bo~ower go~ower Borrower {Acknowledgements on Following Pages EQ360D (12/2004) FOR NOTARIZATION OF BANK PERSONNEL ACKNOWLEDGMENT.(All-Purpose): t,t'~ ' ' STATE OF '~q']:.~z,~qyt.~ , COUNTY OF ~ } ss. before me, the undersigned, a Notary Public in and for said State, personally appeared /e~_ personally known to me -OR- [-] proved to me on the basis of satisfactory vidence/ to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature: Name: (type or printed) My Commission expires: ounty ot ,~. wyoming ~, FOR NOTARIZATION OF BORROWERS/MORTGAGORS ACKNOWLEDGMENT (All-Purpose): t~ STATE OF [1)5~ ~ /}~ , COUNTY OF //3 ~--t.,/b~. } ss. On .~..o~-/! ~ ;5'~ ~O~'-- before me, the undersigned, a Notary Public in and for said State, per,sonally appeared ipersonally known to me -OR- [-'] proved to me on the basis of satisfactory dence/ to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature: Name: ~ ~y (type or printed) My Commission expires: CLAUDIA ANDERSON .-NOTARY PUBLIC COUNTY OF ~ STATE OF LINCOLN ~1~ WYOMING MY COMMISSION EXPIRES MAY 25, 2006 (Seal) EQ360E (12/2004) 00588 ACKNOWLEDGMENT (All-Purpose): STATE OF , COUNTY OF } ss. On before me, the undersigned, a Notary Public in and for said State, personally appeared [---] personally known to me -OR- ~ proved to me on the basis of satisfactory evidence/ to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature: Name: (type or printed) My Commission expires: (Seal) ACKNOWLEDGMENT (All-Purpose): STATE OF , COUNTY OF } ss. On before me, the undersigned, a Notary Public in and for said State, personally appeared I~ personally known to me -OR- [--[ proved to me on the basis of satisfactory evidence/ to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature: Name: (type or printed) My Commission expires: (Seal) EQ360F (12~2004) Exhibit A R¢~mnce#: 20050967400389 Acc[#: 0654-654-6063217-t998 A PORTION OF LOT 2 (NW 1/4 NE 1/4) OF SECTION 2, T35N, RllgW, 6TH P.M., AS REFERRED TO IN INSTRUMENT NO. 885447 AND FILED IN BOOK 444 PR PAGE 396, LOCATED NORTHEASTERLY FROM ETNA, LINCOLN COUNTY, WYOMING, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING THE BLM TYPE MONUMENT SET BY MARLOW A. SCHERBEL (PLS 5358) SET IN 1993 FOR THE E~/~6 CORNER BETWEEN SECTION 2, T35N, R~gW AND SECTION 35, T36N, RllgW, FOUND MARKING THE NORTHEAST CORNER OF SAID NWl/4 NE~/4; THENCE S ~ DEGREES 4~ MINUTES 54 SECONDS W, ALONG THE EAST LINE OF SAID NWl/4 NE~/4, 303.74 FEET TO AN IRON PIPE SET; THENCE N 89 DEGREES 03 MINUTES 58 SECONDS W 330.9~ FEET TO AN IRON PIPE SET; THENCE N 1 DEGREES 37 MINUTES 48 SECONDS E 303.94 FEET TO AN IRON PiPE SET AT A POINT IN THE NORTH LINE OF SAID NWl/4 NE~/4; THENCE S 89 DEGREES O1 MINUTES 47 SECONDS E 331.27 FEET TO THE POINT OF BEGINNING. EQEXA1 (12/2003)