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• <br />LOAN EXTENSION AGREEMENT (Letter of Credit) <br />MAKER NAME and ADDRESS <br />Arthur A. Winter Note No. <br />20110 CR 75.0 <br />Trinidad, CO 81082 Date of Transaction 08/13/2015 <br />IT IS HEREBY AGREED that the above numbered note, on which there is an unpaid principal <br />balance of $ ZERO Dollars ($ -0- maximum available credit of $13,500.00 to State of Colorado <br />Division of Reclamation, Mining and Safety) shall be and is hereby extended to become due August <br />20. 2016 and the borrower(s), in consideration of the extension of time for payment, does hereby agree <br />to pay interest accrued to date in the amount of $ -0-, and agrees to reduce principal in the amount of $ <br />-0- (Fully secured by MMDA Acct# , and further agrees to pay the balance of the said note <br />in the amount of $ -0- (maximum available credit of $13,500.00 to State of Colorado, Division of <br />Reclamation, Mining and Safety) together with interest from date at the Variable Rate of 2.40 % <br />(2.0% above the MMDA account Rate) per annum until the new maturity date of 08/20/2016 for <br />MMDA Account # and on the unpaid balance owing after maturity and until paid in full at a <br />rate equal to the current. This agreement does not in any way, satisfy or cancel the original obligation. <br />Except as specifically amended by this agreement, all other terms of the original obligation remain in <br />effect. This means and includes, but is not limited to the following: <br />1.Collateral securing the obligation as originally scheduled for payment will continue to secure the total obligation <br />as amended by this agreement. 2.A11 parties obligated in any way to pay the original obligation (including any co -makers, <br />endorsers and guarantors) remain liable for the total obligation as amended by this agreement. If bank requires the consent <br />to this extension by any additional party, we agree to obtain such consent, and this extension agreement is not effective if <br />the consent is not obtained. 3.Bank is not obligated to further extend the payments affected by this agreement or any other <br />scheduled payments. All other scheduled payments not affected by this agreement shall remain due as previously <br />scheduled. 4.A11 provisions for default, remedies and attorney fees (if any) etc. remain in effect. 5.Borrower's obligation <br />(if any) to provide insurance on the collateral shall remain in effect but of course the terms of such insurance policy will not <br />be extended to cover any additional term resulting from this agreement unless contracted for and any additional premium is <br />paid. 6.The term of any Credit Life and/or Disability Insurance coverages purchased in connection with the original <br />obligation will not be extended for the additional term provided for in this agreement unless contracted for and any <br />additional premium is paid. <br />Borrower acknowledges receipt of a copy of this extension agreement. <br />The First National Bank in Trinidad <br />P.O. Box 759, Trinidad, CO 81082 <br />By: <br />Laura Aiello, VP <br />Borrower(s) <br />Arthur A. Winter <br />