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ASSUMPTION AGREEMENT
WITH RELEASE of LIABILITY
(;Oû693
THIS AGREEMENT is made this
~ò)
day of A IAr~~t~-t ,20 Qß , between
o.Vl'l-Pr;\. '""^e \n. S· 1)1"'~1(,\J. cl,,--
(k e.o r~ 6 "0. tC"\4.J ð .
(here "BORR ER"), and
G ~O~.. ~ l" o.l"uJt--
(here "ASS R"), and
F ; ".5UnLe..c.s.W ~ .6 Q. n.h
the laws of the United States, whose address is ~ ~ X
, a corporation organized and existing under
40) C,Q6 r P-f'") LÙY
'f<~(o~ I
here "LENDER"),
-. ., "
for a modification, assumption, and release with respect to that promissory note dated
~'ð ~.r 30 C - 5 - ~<:x:x.), in the original amount oÙ II C I 500
)
bearing interest at the rate of (¡,. 8 75 percent per annum, secured by a (mortgage, deed of
:trust}ofthe.same.date,:¡paçie by BORROWER:to r j r5 /.. . In-&. e~5'tQ.-{-e.> "f3'Cl.-r..k<':"·.'
recò~~ed in;' '. L; ~d ~'\ ~ secured by the following described
to LL ÝI f\ I-.ck.~.k
property located in the County of L ,'vll:.~ J f\
Ú) J'" "'1,; '" ð
Let 41 1="ore..6l: rYle.euÍow.s S~bcL vision
, State of
Which has the address of 5 0 ~ T \vu.a....
(herein "PROPERTY ADDRESS'!); _, '; (street) -
. "
WHEREAS, LENDER acquired the note and (mortgage, deed of trust) described above by an assignment
dated
q- 5 - .:2a(')~
and recorded in ~ \ 1'\. ~ 0\'1\
~O\.LAtu
\
WHEREAS, BOROWER is indebted to LENDER under the note and (mortgage, deed of trust) described
above, payable in
montWy installments of $
due on the
day of each month, and
RECEIVED 11/10/2008 at 2:25 PM
RECEIVING # 943523
BOOK: 708 PAGE: 693
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
WHEREAS, BORROWER desires to sell and ASSUMER desires to purchase such property subject to such
indebtedness and to assume the unpaid principal owing to LENDER, but such (deed of trust, mortgage)
requires the written consent of LENDER prior to any sale or transfer of all or any part of such property, and
a sale or transfer without consent of LENDER would constitute a default under such (deed of trust,
mortgage), and BORROWER and ASSUMER wish to obtain the consent of LENDER to such sale or
transfer:
(:0&694
NOW THEREFORE, for and in consideration of the granting of such consent by LENDER and of the
benefits flowing to each of the parties hereto, they do agree as follows:
1. STATUS OF LOAN. As of the date of the transfer of the property on
or as a result of such transfer, payments of principal and interest on the indebtedness are current, and
the unpaid principal balance of the indebtedness to LENDER is $ 9t¡{¡ ro;..,~ . qo
as of such date, subject to payment of all checks in process of collection.
2. NEW TERMS. The terms of the note evidencing such indebtedness are hereby modified by
increasing the rate of interest payable thereunder to percent per annum,
effective on . Such indebtedness shall beginning on
and continuing thereafter, be payable in monthly installments of
$ per month together with any amounts required for escrow deposits.
The dates on which payments are due shall remain unchanged.
3. ASSUMPTION. ASSUMER hereby assumes such indebtedness as modified in paragraph 2 above,
and shall hereafter make all monthly payments as called for therein. If this agreement is entered into
after the date of the transfer of the property, ASSUMER agrees and tenders herewith an amount
necessary to make the loan CUlTent as modified in paragraph 2 as of the date of this agreement.
Further, ASSUMER agrees to abide by all provisions of such note and of the (deed of trust, mortgage)
securing such indebtedness as described above, excepting as specifically modified by this agreement.
In the event of any default by ASSUMER under the terms of such note or such (deed of trust,
mortgage), LENDER may exercise all remedies available to it under the terms of such note or (deed of
trust, mortgage) including an action at law against ASSUMER to collect any monies due under the
note, and exercise of the remedies contained in NON-UNIFORM COVENANT 18 of the (deed of
trust, mortgage), ASSUMER hereby acknowledges that LENDER has made all disclosures to
ASSUMER as may be required under the Consumer Credit Protection ACT of 1968 and Regulation Z
(Title 12, part 226, Code of Federal Regulation).
4. FUNDS FOR TAXES AND INSURANCE. BORROWER hereby relinquishes and transfers to
ASSUMER all BORROWER's interest in any monies which may be held by LENDER as escrow
deposits for the purposes of application to taxes, assessments, fire or other insurance premiums, or any
other purposes for which deposits are being required by LENDER. ASSUMER assumes the liability
for payment of any unpaid taxes, assessments, fire, or other insurance and agrees to continue making
monthly deposits for such purposes i£requires by LENDER.
5. LENDER CONSENT AND RELEASE. LENDER hereby consents to the sale and transfer of such
property to ASSUMER by BORROWER, hereby accepts ASSUMER as its obligor, and shall amend
its records to indicate the transfer of such indebtedness from the name of BORROWER to the name of
ASSUMER, and LENDER shall henceforth in all respects treat ASSUMER as its borrower. LENDER
hereby releases BORROWER from all obligations or liabilities under such note or (deed of trust,
mortgage). All other terms of this agreement to the contrary notwithstanding, the remedies contained
in NON-UNIFORM COVENANT 18 of the (deed of trust, mortgage) shall remain in full force and
effect in accordance with their terms.
6. FUTHER TRANSFER OF PROPERTY. ASSUMER agrees that the granting of consent by
LENDER to this transfer shall not constitute a waiver of the restrictions on transfer contained in such
(deed oftust, mortgage), and such restriction shall continue in full force and any future transfer or sale
by ASSUMER without the written consent of LENDER, at its option, may exercise all remedies
available to it under the terms of such note and (deed of trust, mortgage).
7. Wherever the words "BORROWER" or "ASSUMER" are used in this agreement, they shall represent
the plural as well as the singular, the feminine and neuter genders as well as the masculine, and shall
include heirs, successors or assigns.
k{!~
BORROWER
ent on the day and year first above written.
1If-!I-
IN WITNESS THEREOF, the parties have executed this a
STATE OF L0:y'rv\irul. ) ss.
COUNTY OF T do (\ ð )
00&695
On A ~~~ ~ :;t;2 ~ 0(:) ~ , before me the undersigned, a Notary Public in and for
said County and Stat, personally appeared ~e.o('7d; ...... PO-m...pJ ~ ßrt.ch"''^~ e.. , known to
me to be the persons whose names are subscribed to t e within instrument and acknowledged to me that
they executed the same.
~t~~ER
WITNESS my hand and official seal
ASSUMER
STATE OF W~C.M i'Y\ £l ) ss.
COUNY OF Ië ~ c '" \) )
On P..1 ~~ ~~ I ~Cð ~ ' before me the undersigned, a Notary Public in and for said
County and State, p onally appeared Gr £1..0 ('~ \!:)Ç-o. f,. urJ I> / , known to
me to be the persons whose names are subscribed t e within mstrument and acknowledged to me that
they executed the same.
WITNESS my hand and official seal
BECKY A. ADAMS - NOTARY PUBLIC
COUNTY OF :..~. '" , STATE OF
LINCOLN ",'..: WYOMING
MY COMMISSION EXPIRES .
Investor:
By
Title
STATE OF
COUNTY OF
) ss.
)
, before me the undersigned, a Notary Public in and for said County
, known
of
, the corporation that executed the within instrument, and
known to me to be the person who executed the within instrument on behalf of the corporation therein
named, and acknowledged to me that such corporation executed the within instrument pursuant to its by-
laws.
On
and State, personally appeared
to me to be the
WITNESS my hand and official seal
Notary Public in and for said County and State