HomeMy WebLinkAbout25- HRDC - Release of City Promissory Note2866422
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WHEN RECORDED
RETURN TO:
Human R ces Development Council of DistrictIX,Inc.
32 th Tracy Avenue
ozeman,MT 59715
Spaceabovelineforrecorder'suseonly
RELEASE OF PROMISSORY NOTE
WHEREAS,on April 20,2020,the City of Bozeman,Montana,a municipal corporationof the
Stateof Montana,with officesat 121 North Rouse Avenue,Bozeman,Montana 59715,as Lender,
enteredintoa Grant Agreement with Human Resources Development Council of DistrictIX,Inc.
("HRDC"),a Montana nonprofit corporation located at 32 South Tracy Avenue,Bozeman,
Montana 59715,as Borrower;
WHEREAS,Section 5(c)of the Grant Agreement specifiedthat"[t]herepayment obligationsin
thisSection 5 willbe setout in a Promissory Note from HRDC with a 10-yearterm in a form
satisfactoryto the City Attorney"and
WHEREAS,as a resultof Section 5(c)of the Grant Agreement,the Partiesentered into a
Promissory Note in which HRDC,as the Borrower,promised to pay the City,as Lender,
$296,520.00 with a 0%interestrate;and
WHEREAS,theCity of Bozeman,asLender,hereby fullyreleasesand dischargesany obligations,
claims,restrictions,and responsibilitiesin the Grant Agreement requiredof HRDC,as Borrower,
thatisrelatedtothePromissory Note;and
WHEREAS,theCity ofBozeman,asLender,hereby fullyreleasesand dischargesthe Promissory
Note,inthe amount of $296,520.00,granted to HRDC,as Borrower;and
WHEREAS,therealpropertysubjectto the Promissory Note isdescribedas follows:
2015 Wheat Drive
Bozeman,Montana 59715;and
WHEREAS,all obligations,claims,restrictions,and responsibilitiesrequired of HRDC,as
Borrower,and as setforthby the Promissory Note,have been fullysatisfied,and areno longerof
any forceor effect,and arehereby terminated.
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2866422 Page 2 of 3 12/12/2025 02:21:40 PM
DATED this day of OCÅo ,2021
IN WITNESS WHEREOF,the partiesheretohave executed thisRelease of Promissory Note on
theday and year firstabove writtenor as recorded inan electronicsignature.
HUMAN RESOURCES DEVELOPMENT COUNCIL OF DISTRICT IX,INC.(HRDC)
He r er,
HRDC Chief Exec tiveOfficer
STATE OF MONTANA )
):ss
County of Gallatin )
On this day of Octow ,2025,beforeme theundersigned,a Notary Public
forthe Stateof Montana,personallyappeared Heather Grenier,known to me to be Chief
ExecutiveOfficerofHuman ResourcesDevelopment Council Of DistrictIX,Inc.(HRDC)
and thepersonwhose name issubscribedtothewithininstrumentand acknowledged tome
thathe executedthewithininstrumentforand on behalfof Human Resources Development
Council Of DistrictIX,Inc.(HRDC).
IN WITNESS WHEREOF,Ihave hereuntosetmy hand and affixedmy NotarialSealthe day
and year firstabove written.
(SEAL)
o MADISON DUDERSTADT
.Ss NotaryPublic
oTARI .7 forthestateofMontana
Residingat:SEAL.5 sozeman,Montana
Notary PublicfortheStateofMontana My CommissionExpires:,no July21,2026
(PrintedName)
Residingat
My Commission expires \)ø1 /1\/20
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2866422 Page 3 of 3 12/12/2025 02:21:40 PM
CITY OF BOZEMAN,MONTANA
City Manager
ATTEST:6
City Clerk
STATE OF MONTANA )
)ss
County of Gallatin )
On this 8 day of 1p(/,20E beforeme,a Notary Publicforthe Stateof
Montana,personallyappeared CHUCK WINN and MIKE MAAS,known to me to be the City
Manager and City Clerk forthe City of Bozeman and the persons whose names aresubscribedto
the within instrument,and acknowledged to me thatthey executed the same forand on behalfof
the City of Bozeman.
IN WITNESS WHEREOF,I have hereuntosetmy hand and affixedmy NotarialSealthe
day and yearfirstabove written.
(SEAL)
,MICHELLE CHAPEL
Notary PublicfortheStateof Montana My com n
(PrintedName)
ResidingatBozeman,tan
My Commission Ex es://20_
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