HomeMy WebLinkAbout949364RECEIVED 9/9/2009 at 3:49 PM
RECEIVING # 949364
BOOK: 731 PAGE: 520
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
AGREEMENT, QUITCLAIM DEED,
AND RELEASE OF MORTGAGE
KNOW ALL MEN BY THESE PRESENTS, That Next Step Engineering Design &
Construction, LLC, a Wyoming limited liability company, hereinafter referred to as the Mortgagor
or grantor, and 1ST Bank, 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:
Unit 1-2 of The Condos at Valli-Vu Buildings, 1, 2, and 4 together with undivided
interest in common elements in accordance with the Declaration of Condominium,
Covenants, Conditions, and Restrictions recorded June 13,' 2006, in Book 623 on
page 93 and by the official plat filed on June 8, 2006, as Instrument No. 919175 of
the records of the Lincoln County Clerk.
ALSO, Unit 2-2 of The Condos at Valli-Vu Buildings, 1, 2, and 4 together with
undivided interest in common elements in accordance with the Declaration of
Condominium, Covenants, Conditions, and Restrictions recorded June 13, 2006, in
Book 623 on page 93 and by the official plat filed on June 8, 2006, as Instrument
No. 919175 of the records of the Lincoln County Clerk.
ALSO, Unit 2-4 of The Condos at Valli-Vu Buildings, 1, 2, and 4 together with
undivided interest in common elements in accordance with the Declaration of
Condominium, Covenants, Conditions, and Restrictions recorded June 13, 2006, in
Book 623 on page 93 and by the official plat filed on June 8, 2006, as Instrument
No. 919175 of the records of the Lincoln County Clerk.
2. That the Mortgagor has mortgaged the Property to the Mortgagee, including by the
following described Mortgages ("the Mortgages") recorded in the office of the Lincoln County Clerk:
Document Secured
Date
Date Recorded
Book and Page
Loan No. 61010940
Promissory Note
10/23/2006
11/2/2006
Book 639, Page 92
Loan No. 61010941
Promissory Note
10/23/2006
11/2/2006
Book 639, Page 99
Loan No. 61010941
Promissory Note
10/23/2006
11/2/2006
Book 639, Page 118
Loan No. 72002926
Promissory Note
7/15/2008
9/4/2008
Book 704, Page 186
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3. That Mortgagor and Mortgagee stipulate and agree that Mortgagor is in default in its
obligations under the Mortgages. Therefore, as of July 20, 2009, the amount due on the
Mortgages is principal and interest in the amounts set forth below plus expenses of collection.
Original Amount
Date
Amount Due
Loan No. 61010940
$ 5,056,860.00
10/23/2006
$2,403,864.14
Loan No. 61010941
$ 875,000.00
10/23/2006
$ 764.73
Loan No. 61010941
$ 875, 000.00
10/23/2006
$ 764.73
Loan No. 72002926
$ 865,631.00
7/15/2008
$830,859.24
4. That the parties agree that it is in their mutual best interests that the Mortgagor
convey to the Mortgagee all of its interest in the Property. In consideration thereof the Mortgagee
releases the Mortgagor together with all other signers, guarantors, and obligors from all obligations
to the Mortgagee under the Mortgages or otherwise on the express condition that there are no
other mortgages, liens, judgments, obligations, or encumbrances against the Property, which has
been confirmed by the Mortgagee as of the date hereof to its satisfaction.
5. That in consideration of the 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 and by order of the Third Judicial District Court, Lincoln County,
Wyoming, by its own free will and choice, remise, release, and forever quitclaim, and by these
presents does for its 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 Property 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 its
name or behalf or any person in their name or behalf, shall or will hereafter claim or demand any
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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.
Grantor does hereby specifically waive, surrender, convey, and relinquish any equity of
redemption and statutory rights of redemption concerning the premises and mortgages or other
documents described above.
Grantor hereby surrenders and delivers possession of the premises to grantee.
6. That Mortgagor represents and warrants that the Property is free and clear of all
liens and mortgages other than the Mortgages described herein and/or of record.
7. 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 not of record, and other good and valuable consideration, the receipt whereof is
hereby confessed and acknowledged, Mortgagee does hereby certify that the Mortgages, and all
debts and claims associated therewith and the Creditor's Claim filed in said District Court are fully
satisfied, released, and discharged; and in consideration thereof the said 1ST Bank does hereby
release and waive any and all rights to a deficiency judgment thereunder or any other relief
pursuant to the Mortgages and the promissory notes they secure as to Mortgagor and any and all
other makers, co-signers, and guarantors of said Mortgages.
IN WITNESS WHEREOF, the parties have executed this Agreement, Quitclaim Deed, and
Release of Mortgage as of this Z, day of , 2009.
Next Step Engineering Design &
Construction, LLC
1
Leslie Morehouse, Manager
3
1 ST Bank, a Wyoming State Banking
Corporation
By
Michael Seppala, Pre d t
STATE OF WYOMING
COUNTY OF L ' c, Y)
ss.
This instrument was acknowledged before me on the Z- day of a-yl1; 2009, by
Leslie Morehouse as manager of Next Step Engineering Design & Construction, LLC, a Wyoming
limited liability company. [Lincoln rey R. Miles. Notary Public
nty of State of
Witness my hand and official seal. Wyoming
ommission Expires October 12, 2011
04 A "I
C14
NOTARY PUBLIC
My commission expires:
STATE OF WYOMING
COUNTY OF U1411
Oj ,)oi)
ss.
This instrument was acknowledged before me on the day of V 2009,
by Michael Seppala as President of 1 ST Bank.
Witness my hand and official seal.
PENNY MENSING - NOTARY PUBLIC
County Of $tata of
Uinta
My Commission Expires OTARY PUBL
My commission expires:")
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