HomeMy WebLinkAbout949366AGREEMENT, NON-MERGER QUITCLAIM DEED, Y_11C'6527
AND RELEASE OF MORTGAGE
KNOW ALL MEN BY THESE PRESENTS, That Leslie Morehouse, Personal
Representative of the Estate of Bradley D. Morehouse, Probate No. PR2007-36-DC, in the
Third Judicial District Court, Lincoln County, Wyoming, 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:
Lots 10, 11, 12, 13, 14, 15, 16, 18, 19, 21, 22, 23, 33, 34, 35, 36, 37, 38, 39, 40, 41,
42, 45 and Lot 46, subject to an easement along the North boundary of Lot 45
for access to The Condos of The Estates At Valli-Vu, Lincoln County, Wyoming,
as described on the official plat filed on December 1, 2006, as Instrument No.
924974 of the records of the Lincoln County Clerk.
2. That the Mortgagor or its predecessors-in-interest 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 73
Loan No. 61010941
Promissory Note 10/23/2006 11/2/2006 Book 639, Page 99
Loan No. 72002926
Promissory Note 7/15//2008 8/4/2008 Book 704, Page 179
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.
Oriainal Amount
Loan No. 61010940
$ 5,056,860.00
Loan No. 61010941
$ 875,000.00
Loan No. 72002926
$ 865,631.00
Date Amount Due
10/23/2006 $2,403,864.14
10/23/2006 $ 764.73
7/15/2008 $830,859.24
RECEIVED 9/912009 at 3:52 PM
RECEIVING # 949366
1 BOOK: 731 PAGE: 527
JEANNE WAGNER
i imnni N MLINTY CLERK. KEMMERER. WY
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 Third Judicial District Court of Wyoming and 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
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 Property 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.
2
59
Mortgage separate and distinct. It is
a es shall hereafter remain Said mortgages, other
The fee interest and the above mortgages
of the fee and the mortgages.
not the intent of the parties to effect a shat and in full force and effect. This
agreements, and any loan documents shall remain vl~dom proceeding in any action to enforce its
operate top reements, or any loan documents.
Quitclaim Deed shall not op reclude grantee
rantee in any manner whatsoever from
rights to the Property pursuant to the mortgages, air other ag
preclude, or impair g
Further, nothing herein shall prevent, p of sale or judicial process.
pursuing foreclosure of the mortgages by power
g. the foregoing conveyance and mutual understanding and
d
es, and
That in consideration of
n that the Property is free and clear of all other liens, r, r gage
agreement and on con eco good and valuable consideration,
ee does hereby certify that as to the grantor, the
hereby confessed an s, and
encumbrances not and ro acknowledged, Mortgag or's Claim filed in said
Mortgages, and all debts and claims associated therewith and t nec consideration thereof the said
ed; and
judgment thereunder or
District Court, are fully satisfied, released, and discharg
1 ST release and waive any and all rights to a deficiency Se re as to Mortgagor
Bank does hereby promissory notes they
pursuant to the Mortgages and the p
any other relief Hers, and guarantors of said Mortgages.
and any and all other makers, co-sig
parties have executed this Agreement, Non-Merger Quitclaim
IN WITNESS WHEREOF, the 2009.
Z ~P
Deed, and Release of Mortgage as of this day of
Date
D= Book 639, Page 73 Document 10/23/2006 111212006 Book 639, Page 99
Mortgage 10123/2006 111212006 Book 704, Page 179
Mortgage 711512008 91412008
with grantee's
Deed does not effect a merger of the fee ownership
This Quitclaim rantor in favor of
mortgages ~ certain loan documents executed by g
on the Property created by
grantee including, but not limited, to the following: Book and Paae
Recorded
Estate of Bradley D. Morehouse
Probate No. PR2007-36-DC in the
Third Judicial District Court
Lincoln County, Wyoming
eslie Morehou sentative
Personal Rep
3
STATE OF WYOMING
ss.
COUNTY OF
By
This instrument was acknowledged before me on the Z day of , 009, by
Leslie Morehouse as Personal Representative of Estat o s Public
Witness my hand and official seal.
County of State of
Lincoln V Wyoming
My Commission Expires October 12, 2011
NOTARY PUBLIC
My commission expires: L' Z
STATE OF WYOMING
: ss.
COUNTY OF UV--
This instrument was acknowledged before me on the day of iofa'tz 2009,
by Michael Seppala as President of 1 ST Bank.
Witness my hand and official seal.
PENNY MENSING -NOTARY PUBLIC
County a
t~G
Uinta .riS+ WyordrdL
My Commission Expires NOTARY PU C
My commission expires: ~dB--11)
4
1ST Bank, a Wyoming State Banking
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