REVISION AGREEMENT
To: FIRST SECURITY BANK OF NEW MEXICO, N.A., f/k/a FIRST NATIONAL BANK IN
ALBUQUERQUE ALBUQUERQUE, NEW MEXICO
This Revision Agreement refers to a certain loan evidenced by a promissory note
("the Note") dated FEBRUARY 12, 1987, executed by ▇▇▇▇▇▇'▇ Incorporated, a New
Mexico corporation (the "Borrower"). The total principal amount of the Note is
NINE HUNDRED THOUSAND AND NO/100 Dollars ($ 900,000.00), upon which interest is
paid to May 16, 1995. The Note is secured by a [ x] real estate mortgage, [ ]
deed of trust (the "Mortgage") executed by the Borrower and recorded in Book
253, page(s) 1403-1408, records of Torrance County, New Mexico. The Borrower
hereby requests that you accept payment of the Note as follows:
TO RENEW AND EXTEND THE PROMISSORY NOTE AND MORTGAGE AND ANY RENEWALS
AND/OR EXTENSIONS THEREOF AS FOLLOWS:
The Bank has agreed to make an additional advance as contemplated by this
encumbrance all of which together are evidenced by the note attached here to as
schedule "A".
In further consideration this revision, the indebtedness evidenced by the Note
is hereby acknowledged and admitted, and the Borrower jointly, severally, and
unconditionally promises and agrees to pay the Note with interest thereon within
the time and in the manner above provided, together with attorneys' fees, cost
of collection, and any other sums secured by the Mortgage. In the event of
default in the payment of any installment of principal or interest as either
becomes due as herein provided or other event of default contained in any loan
document, the entire unpaid balance of principal and interest shall, at the
option of the holder of the Date, become due and payable without notice. In
further consideration of this revision, presentment of the Note, demand for
payment, protest, notice of protest, notice of dishonor, and notice of
non-payment are hereby waived.
Any and all security for the indebtedness of the Borrower and the which is held
by you, including the Mortgage, may be enforced by you concurrently or
independently in such order as you may determine; and with reference to any such
security in addition to the Mortgage, you may, without consent of or notice to
any of the undersigned, exchange, substitute, or release such security without
affecting the liability of any of the undersigned, and you may release any one
or more parties hereto or to the Note, or permit the liability of said party or
parties to terminate, without affecting the liability of any other party or
parties.
This agreement is a revision only, and not a novation; and except as herein
provided, all of the terms and conditions of the Mortgage shall remain in full
force and effect.
Date: May 16, 1995
▇▇▇▇▇▇'▇ Incorporated
A New Mexico corporation
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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By: ▇. ▇. ▇▇▇▇▇▇, President Borrower-Mortgagor
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ACKNOWLEDGEMENTS AND ACCEPTANCE ON REVERSE
State of New Mexico
County of ______________________
This instrument was acknowledged before me on __________________________, 19___.
By _____________________________________________________________________________
________________________________________________________________________________
My commission expires: ____________________________________
Notary Public
State of New Mexico
County of Bernalillo
this instrument was acknowledged before me on May 16th, 1995.
By ▇.▇. ▇▇▇▇▇▇, President
of ▇▇▇▇▇▇'▇ Incorporate A New Mexico Corporation.
On behalf of the corporation.
My commission expires: /s/ ▇▇▇▇ ▇. Poatz
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February 7, 1996 Notary Public
State of New Mexico
County of ______________________
this instrument was acknowledged before me on __________________________, 19___.
By _____________________________________________________________________________
of ____________________________________________________________________________.
On behalf of the partnership.
My commission expires: ____________________________________
Notary Public
State of New Mexico
County of ______________________
this instrument was acknowledged before me on __________________________, 19___.
By _____________________________________________________________________________
of_____________________________________________________________________________.
My commission expires: ____________________________________
Notary Public
ACCEPTED: FIRST SECURITY BANK OF NEW MEXICO, N.A.
BY: ____________________________________________
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, Vice President