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00021;'9
WARRANTY DEED IN LIEU OF FORECLOSURE
KNOW ALL MEN BY THESE PRESENTS, that this WARRANTY
DEED IN LIEU OF FORECLOSURE is made as of this ~/ .J day of
4ut: J: t- , 2006, by and between Lawrence L. Ward, ("Grantors"), whose
pres t mailing address 365 Taylor Lane, Cokevllle, WY 83114, and the
Mortgage Electronic Registration Systems, Inc., as nominee for Accredited Home
Lenders, Inc. (the "Grantee"), whose mailing address is. 16550 West Bernardo
Dr. Bldg 1, San Diego, CA 92127.
W!! N E SSE! H:
GRANTORS, for and in consideration of the sum of $10.00 and
other good and valuable consideration, to Grantors in hand paid by Grantee, the
receipt and sufficiency of which are hereby acknowledged and confessed, and
further in consideration of (a) the waiver by Grantee of its rights under the
mortgage described below, including the right to foreclose said mortgage, and (b)
the agreement of Grantee to reduce, and thereby release Grantors from any
further liability for payment of the indebtedness outstanding and unpaid by
Grantors pursuant to that certain Promissory Note dated as of November 25,
2005, in the original principal amount of $220,800.00, executed and delivered by
Grantors to Grantee, by these presents, do hereby GRANT, BARGAIN,
CONVEY, and WARRANT unto Grantee all of their right, title, equity (including
their equitable and statutory rights of redemption), and interest in and to the
following described real property located in Lincoln County, State of Wyoming,
more particularly described as:
LOTS 23 AND 24 OF THE TAYLOR THIRD
SUBDIVISION, LINCOLN COUNTY, WYOMING, AS
DESCRIBED ON THE OFFICIAL PLAT THEREOF.
with an address of
365 Taylor Lane, Cokeville, WY 83114
hereto and by this reference made a part hereof, together with all
buildings and improvements situate on said real property and all fixtures and
appurtenances thereto (collectively, the "Property"), hereby releasing and
waiving all rights under and by virtue of the homestead exemption laws of the
State of Wyoming.
TO HAVE AND TO HOLD the Property, together with all and
singular, any and all other rights and appurtenances thereto in anywise belonging
unto Grantee, its successors and assigns FOREVER; and Grantors do hereby
bind themselves and their successors and assigns to WARRANT and FOREVER
DEFEND all and singular the Property unto Grantee, its successors and assigns,
against every person whomsoever lawfully claiming or purporting to claim the
same or any part thereof.
BUT IT IS HEREBY EXPRESSLY ACKNOWLEDGED AND
AGREED THAT:
A. This Warranty Deed in Lieu of Foreclosure, and the
conveyance being made hereunder, is being executed, delivered, and accepted
in lieu of foreclosure of the Lien (as hereinafter described and defined), and as
an absolute conveyance to Grantee of all right, title, equity, and interest of
Grantors in the Property, including specifically, but without limitation, any equity
of redemption and the statutory right of redemption of Grantors therein or thereto.
Grantee has forgiven and fully released Grantors from any and all debt,
OILPkg.doc
RECEIVED 9/8/2006 at 4:12 PM
RECEIVING # 922310
BOOK: 633 PAGE: 279
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
OIL Package
Ward 06-09470
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000280
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bbligation, cost and charges existing under and by virtue of the promissory note
dated November 25, 2005;
B. The lien ("Lien") for which this Deed is given in lieu of
foreclosure was created by that certain Mortgage dated as of November 25,
2005, executed and granted by Lawrence L. Ward, as mortgagors, to Mortgage
Electronic Registration Systems, as nominee for Accredited Home Lenders, Inc.,
as mortgagee, and recorded in the records of the office of the County Clerk and
ex-officio Register of Deeds in and for Lincoln County, State of Wyoming, on
December 19, 2005, at Reception No. 914532 in Book 607 at Page 724 was.
I C. Grantors agree that if Grantee accepts title to the Property
under this Warranty Deed in Lieu of Foreclosure, such acceptance will not create
'any liability on the part of Grantee to third parties who may have claims of any
:kind against Grantors in connection with the Property. Grantee will not under this
;Warranty Deed in Lieu of Foreclosure assume or agree to discharge any
liabilities with respect to the Property that shall accrue or occur prior to the date
on which this Warranty Deed in Lieu of Foreclosure is recorded in the records of
the office of the County Clerk and ex-officio Register of Deeds in and for Lincoln
County, State of Wyoming (the date on which such recording is m¡¡.¡de is
hereinafter called the "Recordinq Date"). Grantors agree to indemnify and hold
harmless Grantee from and against any loss, cost, damage, or expense
(including attorneys' fees and court costs) resulting from claims arising out of the
Property and arising from events that occurred prior to the Recording Date with
respect to the Property. This Warranty Deed in Lieu of Foreclosure does not
confer any third-party benefits on persons who are not signatory to this
instrument other than Grantee.
D. The acceptance of this Warranty Deed in Lieu of Foreclosure
by Grantee is expressly conditioned upon and is subject to the representation
and warranty of Grantors that title to the Property is good and indefeasible title,
free and clear of all liens and encumbrances of any nature whatsoever, except
for: (1) Any covenants, reservations, restrictions, conditions, exceptions, and
easements of record in the chain of title as of the Recording Date; (2) Any liens
of record in the chain of title (as of the Recording Date) which have priority over
the Lien; (3) The Lien; and (4) Encumbrances permitted by the Lien. If title to the
Property is not good and indefeasible as represented in this Paragraph D., then,
at the option of Grantee, Grantee may, in addition to any other remedy available
to it under this Warranty Deed in Lieu of Foreclosure, at law, or in equity,
reinstate and revive the satisfaction and release of the Indebtedness, in which
event, the satisfaction and release of the Indebtedness and any qualifications
upon the Lien shall be null and void and ineffective for all purposes.
IN WITNESS WHEREOF, this Warranty Deed in Lieu of
Foreclosure has been executed on behalf of Grantors and Grantee on the date of
the taking of their acknowledgments, but the effective date of this Warranty Deed
in Lieu of Foreclosure for all purposes shall be deemed to be the Recording
Date.
GRANTORS:
Lawrence L. Ward
By: ;t.~-
Lawrence L Ward
~~~/
OILPkg.doc
OIL Package
Ward 06-09470
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ACKNOWLEDGMENT
00028:1
STATE OF North Carolina )
) SS.
)
lredell
COUNTY OF
by
The foregoing instrument was acknowledged before me/Lawrence
L. Ward this 21st day of August ,2006.
Lawrence
basis of
Witness my hand and official seal.
L. Ward being known to me or proved to me on the
satisfactory eViden~f,o, be the,pe~~,s,~n 9Øscribed.
~~Jrl-h ~jl~~~
Notary Public
Paulette H. Harris
My Commission Expires:
09/20/2010
MUll: I II:: H. HARRIS
NOTARY PUBlIC
...... CoInyt North Carolina
,
,
DILPkg.doc
DIL Package
Ward 06-09470
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