HomeMy WebLinkAbout942296
WHEN RECORDED MAIL TO:
Jordan Credit Union
P.O. Box 1888
Sandy, UT 84091
000038
LESSOR'S CONSENT TO
LEASEHOLD DEED OF TRUST
This consent is dated as of August ']j 2008 and executed by and among Goldenwood
Homes, Inc., a corporation (the "Tenant"), Jordan Federal Credit Union, a Federal Credit Union
(the "Lender"), and Afton-Lincoln County Airport Joint Power Board ("Landlord"). The
property securing the Leasehold Deed of Trust is described as:
Hanger 24 of the AFTON LINCOLN AIRPORT, being
A part of the Southwest Quarter of the Southeast Quarter
(SWl/4 SE 1,4) of Section 36, Township 32 North, Range
119 West, of the 6th P.M., Lincoln County, Wyoming.
RECITALS:
A. The Lender is a lender under that certain Promissory Note, Security Agreement, and
Leasehold Deed of Trust dated August _,2008, to be recorded concurrently herewith (the
"Deed of Trust") which Deed of Trust encumbers the Real Estate (as hereinafter defined) and
secures a principal indebtedness in the amount of Four Hundred Thousand Dollars
($400,000.00).
B. The Tenant has entered into that certain lease agreement dated October 20,2003 with the
Landlord (the "Lease Agreement"), together with all amendments and modifications thereof,
being collectively referred to herein as the "Lease"), pursuant to which the Tenant has leased
certain premises (the "Leased Premises") consisting of approximately 18,000 square feet of land
described on Exhibit "A" attached hereto and made a part hereof.
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby covenant and agree as follows:
AGREEMENTS:
The Tenant represents and warrants to the Lender that the Lease constitutes the entire agreement
between the Tenant and the Landlord with respect to the Lease Premises and there are no other
agreements, written or verbal, governing the tenancy of the Tenant with respect to the Lease
Premises and that the Tenant is not in default under any tenns of the Lease.
Landlord hereby consents to the lien of the Leasehold Deed of Trust upon all of Tenant's
leasehold and other interests in, to, and under the Lease and agrees that the execution, delivery,
perfonnance, and recordation of the Leasehold Deed of Trust and any related documents
RECEIVED 9/16/2008 at 2:41 PM
RECEIVING # 942296
BOOK: 705 PAGE: 38
'_.11.1"'_ 'IL'A "'''''Ir-''''n
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(including UCC financing statements) will not constitute a breach or default under the Lease.
Lessor hereby further consents to the assignment of Tenant's leasehold interest under the Lease
pursuant to the tenns of the Leasehold Deed of Trust. Lessor acknowledges and agrees that any
limitation or transfers in the Lease shall be inapplicable to the transfer contained in the
Leasehold Deed of Trust.
Landlord agrees that the enforcement of the Leasehold Deed of Trust shall not terminate the
Lease or disturb any Purchaser, including Lender if it should be the Purchaser, in obtaining the
right of, and continuing as, the successor lessee under the Lease in the possession and use of the
Real Property Lease in accordance with the tenns of this Agreement or fails to promptly
commence the cure of any non-monetary default and then diligently pursue such cure to
conclusion. If Lender becomes the Purchaser, Lender shall comply with all tenns of the Lease as
required of the Tenant. .
Landlord shall notify Lender of any default under the tenns of the Lease in the same manner and
at the sam~ time as the Landlord notifies the Tenant. Lender has the right to cure any default that
may exist in the same manner as the Tenant may cure any default.
Lessor warrants and represents that:
(1) The Lease is the only agreement between Landlord and Tenant; (2) there are no defaults
in the Lease; (3) there are no pending governmental actions or litigation that could adversely
affect the value of the property; (4) there are not toxic or hazardous pollutants on or under the
property.
All notices given under this Agreement shall be in wiring and shall be given by personal
delivery, overnight receipted courier or by registered or certified United States mail, postage
prepaid, sent to the Party at its address appearing below. Notices shall be effective upon receipt
(or on the date when proper delivery is refused). Addresses for notices may be changed by any
Party by notice to all other Parties in accordance with this Section.
If to Lender:
Jordan Federal Credit Union
9260 S 300 E
Sandy UT 84070
If to Landlord:
Afton Uncoln County Airport
Joint Powers Board
PO Box 1181
If to Tenant:
Goldenwood Homes
PO Box 741
Thayne, WY 83127
If any lawsuit or arbitration is commenced which arises out of or relates to this Agreement, the
prevailing Party shall be entitled to recover from each other Party such sums as the court or
2
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arbitrator may adjudge to be reasonable attorneys' fees, including the costs for any legal services
by in-house counsel, in addition to costs and expenses otherwise allowed by law.
This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their
respective successors and assigns and any nominees of the Lender, all of whom are entitled to
rely upon the provisions hereof. This Agreement shall be governed by the laws of the State of
Utah.
Dated this ~ day of August, 2008.
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State of Wyoming
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Tenant
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By: ~v\5tl,^ \L D"K.-e~81\
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County of ~1tl..;!:¿,)
The Foregoing instrument was acknowledged before me by
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KAREN BROWN - NOTARY PUBLIC
State of
Wyoming
xpires June 30, 2009
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State of Wyoming
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County Ofi.¡ ;'(I~V1
The Foregoing instrument was acknowledged before me by
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On this ~ '7 ~y o~. 20 0 f
JAMES ROBINSON NOTARY PUBLIC
COUNTY OF . STATE OF
LINCOLN WYOMING
MYCOMMISSION EXPIRES OCTOBER 19, 2011
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My Commission Expires:
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State of Utah
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County of "SA'-\- ~k
The Foregoing instrument was acknowledged before me by
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On this '2.4..... day Of~. 20.QY
My Commission Expires:
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