HomeMy WebLinkAbout948585AGREEMENT, QUITCLAIM DEED,
AND RELEASE OF MORTGAGE
.465
KNOW ALL MEN BY THESE PRESENTS, That Joe Ford, a sole proprietorship, and
Kristine Ford, hereinafter referred to as the Mortgagor or grantor, and 1ST Bank previously known
as First National Bank - West, a Wyoming state banking. corporation, of PO Box 1620, Afton, WY
83110, hereinafter referred to as the Mortgagee or grantee, hereby agree as follows:
1. That the Mortgagor is the owner of the following described real property ("the
Property") located in Lincoln County, State of Wyoming:
Lot 5 of Grunig Meadows Subdivision, a Family Exempt Subdivision, Lincoln County,
Wyoming, as described on the official plat filed on January 8, 2004, as Instrument
No. 896489 of the records of the Lincoln County Clerk.
2. That the Mortgagor has mortgaged the Property to the Mortgagee by a Mortgage
("the Mortgage") securing a Promissory Note of even date executed by Mortgagor in the amount of
$67,907.91, dated October 29, 2003, and recorded in the Office of the Lincoln County Clerk on
November 25, 2003, in Book 542 PR, Page 396.
3. That Mortgagor and Mortgagee stipulate and agree that Mortgagor is in default in his
obligations under the Mortgage because of his failure to pay principal and interest as required by
the Note and Mortgage. Therefore, as of April 30, 2009, the amount due on the Mortgage is
principal and interest in the amount of $24,614.62 plus accruing interest on that amount from May
1, 2009, at the rate of $7.49943 per day and expenses of collection.
4. That the parties agree that it is in their mutual best interests that the Mortgagor
convey to the Mortgagee all of his interest in the Property. In consideration thereof the Mortgagee
will release the Mortgagor from all obligations to the Mortgagee under the Mortgage on the express
condition that there are no other mortgages, liens, judgments, obligations, or encumbrances
against the property.
5. That in consideration of th release of the Mortgage and other good and valuable
consideration, the receipt whereof is hereby confessed and acknowledged, the Mortgagor, as
grantor, does hereby voluntarily, by his own free will and choice, remise, release, and forever
RECEIVED 7/28/2009 at 10:17 AM
RECEIVING # 948585
t BOOK: 728 PAGE: 465
JEANNE WAGNER
LINCOLN COUNTY CLERK KEMMERER 4VY
quitclaim, and by these presents does for his successors and assigns, remise, release, and forever
quitclaim, unto 1ST Bank, as grantee, and to its successors and assigns, forever, all such right,
title, interest, property, possession, claim, and demand as the grantor has, or ought to have, in and
to the Property.
Hereby releasing and waiving all rights under and by virtue of the homestead exemption
laws of the State of Wyoming, and further releasing all rights of redemption under the Mortgage
foreclosure laws of said State.
TO HAVE AND TO HOLD the said premises unto the said grantee, and to its successors
and assigns to its own proper use and behoof forever. So that neither the grantor nor any person
in their name or behalf or any person in their name or behalf, shall or will hereafter claim or demand
any such right or title to the premises or any part thereof, but they and every one of them shall by
these presents be excluded and forever barred.
6. That Mortgagor represents and warrants that the Property is free and clear of all
liens and mortgages other than the Mortgage described herein.
7. That in further consideration of the release of the Mortgage, Mortgagor hereby
agrees that he will purchase from Mortgagee the following properties in Lincoln County, Wyoming,
for the following prices which represent loan payoffs as of April 30, 2009, plus accruing interest and
expenses of collection in addition thereto, which purchases Mortgagee agrees to finance for
Mortgagor at not more than a 75% loan to value ratio:
Property Description
Loan No.
Payoff
Lot 5, Grunig Meadows Subdivision
64003071
$ 24,614.62
Same
61010828
20,618.23
Lot 9 of Block 4, Fairview Townsite
64003532
148,701.47
Lot 202 of Block 4, Fairview Townsite
64003417
70,033.77
Same
64002917
58,810.73
Same
64003175
20,038.61
8. That in consideration of the foregoing conveyance and mutual understanding and
agreement and on condition that the Property is free and clear of all other liens, mortgages, and
encumbrances, and other good and valuable consideration, the receipt whereof is hereby
confessed and acknowledged, Mortgagee does hereby certify that the Mortgage is fully satisfied,
2
released, and discharged; and in consideration thereof the said 1 ST Bank does hereby release and
waive any and all rights to a deficiency judgment thereunder or any other relief pursuant to the
Mortgage and the promissory note it secures.
IN WITNESS WHEREOF, the parties have executed this Agreement, Quitclaim Deed, and
Release of Mortgage as of this 1st day of May, 2009.
Joe Ford, a sole proprietorship
ristine Ford
1ST Bank, a Wyoming State Banking
Corporation
By
Rog J. es, Afton Branch President
STATE OF (A) Ybm w c,
COUNTY OF twcocnl
ss.
This instrument was acknowledged before me on the o da of VcY
y -P&&y, 2009, by Joe
Ford, a sole proprietorship.
Witness my hand and official seal.
CPUBLIC
E OF
MING
2012 NOTARY PUBLIC
My commission expires: V LY as 1 a.
3
STATE OF WYOMING
COUNTY OF LINCOLN
ss.
4
This instrument was acknowledged before me on the day of N=y, 2009, by Kristine
Y f 2009, by Kristine
Ford.
Witness my hand and official seal.
CHRIS ALLRED NOTARY PUBLIC
COUNTY OF STATE OF
LINCOLN 0 WYOMING
MY COMMISSION IIXIMR65 JULY 9 2012
-
My commission expires:
STATE OF WYOMING
COUNTY OF LINCOLN
: ss.
) ULY 7( ao
i
NOTARY PUBLIC
JULY
This instrument was acknowledged before me on the aq'~ day of ICS, 2009, by Roger J.
Coles as Afton Branch President of 1 ST Bank.
Witness my hand and official seal.
=LINCOLN NOTARY PUBLIC
STATE OF
WYOMING 8 JULY 9,1012
NOTARY PUBLIC
My commission expires: LLY q, 2 ~ r a
4