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Home My WebLink About11- Western Montana Mental Health Center Promissory Note PROMISSORY NOTE $46,800 --, 20— FOR VALUE RECEIVED, Western Montana Mental Heath Center promises to pay to the order of the City of Bozeman, PO Box 1230, Bozeman, Montana 59771, (or other address notified in writing) the sum of Forty-Six Thousand, Eight Hundred Dollars ($46,800.00) with interest at the rate of two percent (2%) per annum, payable in full no later than November 1,2021. All payments made hereunder shall be credited first to interest and the balance, if any, to principal. Western Montana Mental Health Center may make prepayments on account toward the unpaid principal balance, together with interest accrued to date, due to the City of Bozeman, and may pay the whole of the unpaid principal balance, together with interest accrued to the date of full prepayment, without penalty; provided, however, that no partial prepayment on account toward the unpaid principal balance shall relieve Western Montana Mental Health Center from the obligation of paying the whole of the principal sum, plus accrued interest, until fully paid. In case of default in the payment of the entire principal sum and accrued interest, the balance shall at once become due and payable without notice at the option of the holder of this note. Failure to exercise the option with relation to any default in payment shall not constitute a waiver of the right to exercise the same subsequently. Western Montana Mental Health Center hereby waives any presentment, demand, protest, and notice of nonpayment, and any and all homestead or exemption rights and the benefit of any moratorium, valuation .and appraisement laws of any state or the federal government, and agrees to pay reasonable attorney fees and any costs of collection of amounts due on this note or to foreclose the mortgage securing the payment of this note. DATED this I day of 06 6,beA- 2011, at�, GftR4tin County, Montana. Paul Meyer, Ex utiv fDirector Western Mont a Mental Health Center STATE OF MONTANA 01,'5-Sr-��d County of 494t -- On the ,2J"dy of 0(�06�, 2011, before me, a Notary Public .for the State of Montana, personally appeared Paul Meyer, known to me to be the person describe in and who executed the foregoing Loan Agreement as the Executive Director for the Western Montana Mental Health Center, whose name is subscribed to the within instrument an acknowledged to me that he executed the same for and on behalf of said Corporation. IN WITNESS THEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. cCA L)LAL-OEBECCA NEER NOTARY PUBLIC far the State of Montana EA1, Residing at Missotia,MT X My Cwnrntssion EXP4(es Notary Public for the State of Montana MORTGAGE This Mortgage, made into this . day of 00�).bkk_2011., by and between Western Montana Mental Health Center, (Paul Meyer, Executive Director) located at Building T-9, Fort Missoula, Missoula, Montana 59804, MORTGAGOR, and the City of Bozeman, with offices at 121 North Rouse, Bozeman, Montana 59715, (or other address notified in writing), MORTGAGEE. The obligation secured by this mortgage is a promissory note to secure payment of a loan made by the City of Bozeman to Western Montana Mental Health Center. WITNESSETH: That the Mortgagor, for and in consideration of the sum of Forty-Six Thousand, Eight Hundred dollars ($46,800) plus 2% interest, the amount of a loan provided this date to Western Montana Mental Health Center by City of Bozeman, the receipt of which is hereby acknowledged, does hereby mortgage and confirm unto the Mortgagee, its heirs, executors, administrators and assigns forever its interests in the hereinafter described Real Estate, particularly described as follows: Tract 411-2,Minor Subdivision 417, City of Bozeman, Gallatin County, Montana, Together with all and singular the tenements, hereditaments and appurtenances, thereto, and all reversions and remainders and all rents, issues and profits thereof, and all right, title and interests of the Mortgagor therein, including easements and rights of way for access and all other rights pertaining to its interest thereto, unto the Mortgagee and his heirs, executors, administrators and assigns. The Mortgagor represents to and covenants with the Mortgagee and its heirs, executors, administrators and assigns that it will WARRANT and defend the premises against the lawful claims of all persons whomsoever, and the Mortgagor hereby relinquishes all right of dower and all right of homestead, accruing or to accrue, in and to all of the premises, and the Mortgagor hereby covenants with the Mortgagee that it is lawfully "seized" and in possession of its interest in the premises. Provided that these presents are upon the express condition that if the Mortgagor, its heirs, executors, administrators and assigns, shall payor cause to be paid to the Mortgagees and their heirs, executors, administrators and assigns, the full sum to be agreed upon by the parties according to the tenure and effect of that promissory note 1 described above, information about which is available at the City of Bozeman, P.O. Box 1230, Bozeman, Montana, 59771-1230, then these presents to be void, otherwise to be and remain in full force and effect. It is hereby agreed that if the Mortgagor or maker of the obligation secured by this indenture shall fail to pay the principal or any interest as the same becomes due, or any taxes or assessments or insurance as required or otherwise fail to comply with any or all ofthe conditions of this mortgage, then all of the debt secured hereby shall become due and collectible, and all rents and profits from its interest in the property shall then immediately accrue to the benefit of the Mortgagee; and this mortgage may be foreclosed for the full amount, together with costs, taxes, insurance, cost of abstract title, attorney fees, and any and all other sums advanced or expense incurred on account of the Mortgagor; for whatever purpose, and any and all advances shall draw interest at the rate of ten percent per annurn, and be liens under this indenture. A release of this mortgage is to be made at the expense of Mortgagor, on full payment of indebtedness secured thereby. IN WITNESS WHEREOF. the Mortgagor has hereunto set his hand and seal the day and year first above written. DATED this day of 0(jL±xZA' , 2011, at Ca4a�i1 County, Montana. MORTGAGOR, WESTERN MONTANA MENTAL HEALTH CENTERS Paul Meyer, Executive Dir ct Western Montana Menta Health Center STATE OF MONTANA } County of,GaUa4a. } On the 2� day of C.'° .. 2011, before me, a Notary Public for the State of Montana, personally appeared Paul Meyer, known to me to be the person describe in and who executed the foregoing Loan Agreement as the Executive Director for the Western Montana Mental Health Center, whose name is subscribed to the within instrument an acknowledged to me that he executed the same for and on behalf of said Corporation. IN WITNESS THEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. REBECCA NEER r NOTARY PUBLIC for the -" state of Montana i eliding at Misso0a,MT My Commission Expires Notary Public for the State of Montana .ianua 21 2014. MORTGAGEE, CITY OF BOZEMAN B y Chris Kukulski, City Manager ATTEST: Stae 1 # rttznission STATE OF MONTANA County of Gallatin On the 3 '�day of C)C-4--o I'D e-y ,, 2011, before me, a Notary Public for the State of Montana, personally appeared Stacy Ulmen and Chris Kukulski, known to me to be the persons describe in and who executed the foregoing Loan Agreement as the City Manager and the Clerk of the Commission of the City of Bozeman, whose names are subscribed to the within instrument an acknowledged to me that they executed the same for and on behalf of said City. IN WITNESS THEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. (SEAL) N .......... Notar§ Public for the State of Montana SEAL 1 ry) E