Loading...
HomeMy WebLinkAbout908523Recording Requested by: When Recorded Mail to: Rabo Agrifinance, Inc. 10100 Trinity Parkway Suite 400 Stockton, CA 95219 RECEIVED 5/18/2005 at 4:26 PM RECEIVING # 908523 BOOK: 585 PAGE: 614 JEANNE WAGNER I. INC©LN COUNTY CLERK, KEMMERER, WY MODIFICATION AGREEMENT Loan No. F-197676 MODIFICATION AGREEMENT THIS AGREEMENT is made as of this 27th day of APRIL, 2005 between AXA EQUITABLE LIFE INSURANCE COMPANY (f/k/a THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES), a NEW YORK corporation located and having its principal office at 1290 AVENUE OF THE AMERICAS, NEW YORK, NEW YORK 10104 ("Lender"), and E. RAY OKELBERRY, also known as EDWIN RAY OKELBERRY, also known as RAY OKELBERRY and SUE ANN OKELBERRY, HUSBAND and WIFE, BRIAN OKELBERRY and ERIC OKELBERRY whose chief executive office or principal residence is P.O. BOX 74, GOSHEN, UTAH 84633 (whether one or more, "Mortgagor"). WITNESSETH: WHEREAS, Lender is the holder of a note dated JANUARY 28, 1999 for TWO MILLION TWO HUNDRED FIFTY THOUSAND AND NO/100 Dollars ($2,250,000.00) ("Note") made by E. RAY OKELBERRY, also known as EDWIN RAY OKELBERRY, also known as RAY OKELBERRY and SUE ANN OKELBERRY, HUSBAND and WIFE, BRIAN OKELBERRY and ERIC OKELBERRY (whether one or more, "Borrower"), secured by a mortgage, deed of trust, or security deed ("Mortgage") of even date therewith executed by Mortgagor to Lender and was recorded in the office of the County Recorder of the County of WASATCH, State of Utah, on FEBRUARY 1, 1999, as Instrument Number 00210926, in Book 00413, Pages 00056-00080, of Official Records, in the office of the County Recorder of the County of LINCOLN, State of Wyoming, on FEBRUARY 1, 1999, as Instrument Number 856455, in Book 425, Pages 451- 468, in the office of the County Recorder of the County of WHITE PINE, State of Nevada, on FEBRUARY 1, 1999, as Instrument Number 304646, in Book 295, Pages 160-171 and re- recorded in the office of the County Recorder of the County of WHITE PINE, State of Nevada, on JANUARY 18, 2000, as Instrument Number 307493, in Book 309, Pages 345-357. Upon the Note there is unpaid the sum of $1,920,000.00 with interest on the interest bearing sum of $1,920,000.00 from January 1, 2005 at the rate of 7.40 per centum per annum; and WHEREAS, "The Equitable Life Assurance Society of the United States" changed its corporate name to "AXA Equitable Life Insurance Company" effective September 7, 2004; and WHEREAS, the parties hereto are desirous of modifying the Note and Mortgage in the particulars hereinafter mentioned. NOW THEREFORE, in consideration of the premises and of the mutual promises herein contained, and of the sum of One Dollar ($1.00) duly paid to Lender, it is hereby mutually covenanted and agreed that the terms of the Note and Mortgage be and the same are hereby modified as follows: Financing Statements. Mortgagor and Borrower hereby authorize Lender, without obtaining the signature of Mortgagor or Borrower, to file financing statements or amendments to existing financing statements in order to perfect the lien granted by the Mortgage. Mortgagor Information. Mortgagor and Borrower represent and warrant that (a) Mortgagor's chief executive office or principal residence is Mortgagor's address set forth in the first paragraph of this Agreement; (b) Mortgagor's state of organization, if applicable, is as set forth in the first paragraph of this Agreement; and (c) Mortgagor's exact legal name is as set forth in the first paragraph of this Agreement. 3. Effective Date. The effective date of this agreement is July 1, 2005. 4. Interest Rate. No change. 5. Principal Balance. The principal balance of the Note has been reduced to $1,665,000.00 as of the effective date. 6. Maturity Date. No Change. Payment Schedule. Principal and interest payments of $84,205.00 due JANUARY 1, 2006 and semi-annually thereafter to maturity when the unpaid .balance is due and payable, each such installment to be applied first in payment of the interest then due and the balance on account of principal, all in lawful money of the United States of America. o Other. All of the provisions of the Note and Mortgage shall remain in full force and effect except as herein specifically modified and this Agreement is made upon the express condition that the Mortgagor is vested with the fee simple title to the premises covered by the Mortgage. And the said Mortgagor in consideration of the granting of this modification further covenants and agrees to pay and comply with the terms and conditions of the Note and Mortgage as herein modified, and nothing herein contained shall invalidate any of the security now held for the payment of said debt. This Agreement shall bind the parties, their heirs, legal representatives, successors and assigns. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written. Approved by Lender: ,~r~d ~by~..~~rower: E. RAY OKELBERRY, also known as EDWIN RAY OKELBERRY, also known as RAY OKELBERRY AXA Equitable Life Insurance Company f/.k/a the Equitable Life Assurance Society of.~e'"'""'"',., Umted States ' ',, -'2,"; .. O *'-. ~ ,,,". \'~'...".1:2.'~,... ~>,,, ',:... ,- / , ? ~ ..,,,,~,~r.. ~;¢~, ,... -¢,, ..., · ~Erik C. Roger, Assistant Secretary SUE ANN OKELBERRY B~d'AN OKELBIT:~RY ~ ERIC OKELBERRY ¢¢*'- STATE OF CALIFORNIA ) )ss. COUNTY OF SAN JOAQUIN ) On April 27, 2005 before me, Anita M. Kopico, a Notary Public in and for the State of California, personally appeared Erik C. Roget, personally known to me to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the within instrument in his authorized capacity and that, by his signature on the within instrument, the person or entity upon behalf of which he acted executed the within instrument. WITNESS my hand and official seal. (SEAL) My commission expires: March 14, 2008 [ADD APPROPRIATE ACKNOWLEDGMENTS] U9101Q RVSD 01-10-02 L:\LN_SE RV~PROB_LNS~vlOD_AGR N:\LEGAL\GEN\LN_S ERV~P ROB_LN S\MOD_AG R Initials State of Utah County of Wasatch On the 12th day of May~ 2005, before me, personally appeared E. Ray Okelberry aka Edwin Ray Okelberry aka Ray Okelberry and Sue Ann Okelberry and Brian Okelberry and Eric Okelberry, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) are/is 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 his/her/their signature(s) on the instrument that person(s) or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. MARVA LEE FDWARD$ 8! South Main Strael He~r C.y, ~h 84032 Commission Expires July 6, 2~6 Page i of I