2016-11-28_REPORT - M1985165 - Laserfiche WebLink

Home Browse Search

RECEIVED 11/21/2016 11:17AM 11/21/2016 12:24 FAX 7198469888 FIRST-NATIONAL-RANK-TDAD 1jn002/002 LOAN EXTENSION AGREEMENT (Letter of Credit) MAKER NAME and ADDRESS Arthur A.Winter Note No. 103354 201 IO CR 75.0 Trinidad,CO 81082 Date of Transaction 07/26/2016 IT IS HEREBY AGREED that the above numbered note, on which there is an unpaid principal balance of $ ZERO Dollars ($ -0- maximum available credit of $13 500.00 to State of Colorado Division of Reclamation, Mining and Safety) shall be and is hereby extended to become due August 20,2017 and the borrower(s), in consideration of the extension of time for payment,does hereby agree to pay interest accrued to date in the amount of$ -0-, and agrees to reduce principal in the amount of$ -0- (Fully secured by MMDA Acct# 40-992-8), and further agrees to pay the balance of the said note in the amount of $ -0- (maximum available credit of $13 500 00 to State of Colorado, Division of Reclamation, Mining and Safety) together with interest from date at the Variable Rate of 2.40 % (2.0% above the MMDA account Rate) per annum until the new maturity date of 08/20/2017 for MMDA Account#40-992-8; and on the unpaid balance owing after maturity and until paid in full at a rate equal to the current. This agreement does not in any way,satisfy or cancel the original obligation. Except as specifically amended by this agreement, all other terms of the original obligation remain in effect. This means and includes,but is not limited to the following: I.Collateral securing the obligation as originally scheduled for payment will continue to secure the total obligation as amended by this agreement. 2.All parties obligated in any way to pay the original obligation(including any co-makers, endorsers and guarantors)remain liable for the total obligation as amended by this agreement. If bank requires the consent to this extension by any additional party,we agree to obtain such consent,and this extension agreement is not effective if the consent is not obtained. 3.13ank is not obligated to further extend the payments affected by this agreement or any other scheduled payments. All other scheduled payments not affected by this agreement shall remain due as previously scheduled. 4.All provisions for default,remedies and attorney fees(if any)etc.remain in effect. 5.Borrower's obligation (if any)to provide insurance on the collateral shall remain in effect but of course the terms of such insurance policy will not be extended to cover any additional term resulting from this agreement unless contracted for and any additional premium is paid. 6.The term of any Credit Life and/or Disability Insurance coverages purchased in connection with the original obligation will not be extended for the additional term provided for in this agreement unless contracted for and any additional premium is paid. Borrower acknowledges receipt of a copy of this extension agreement. The First National Bank in Trinidad Borrower(s) P.O.Bo 59,Trinid1std.,CO 81082 Arthur A.Winter Laura Aiello,SrNP i