HomeMy WebLinkAbout949368AGREEMENT, QUITCLAIM DEED,
AND RELEASE OF MORTGAGE
KNOW ALL MEN BY THESE PRESENTS, That Leslie Morehouse, Personal
Representative of the Estate of Bradley D. Morehouse, 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 17, 18, 22, 23, 24, 25, 26, 27, 32, and 35 of Afton Airpark Addition to the Town
of Afton, Lincoln County, Wyoming, as described on the official plat No. 167-C filed
on August 1, 2005, as Instrument No. 910442 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 80
Loan No. 61010941
Promissory Note
10/23/2006
11/2/2006
Book 639, Page 106
Loan No. 64003465
Promissory Note
4/24/2007
5/7/2007
Book 656, Page 848
Loan No. 72002926
Promissory Note
7/15/2008
9/4/2008
Book 704, Page 172
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. 64003465
RECEIVED 9J9/2009 at 3:52 PM
RECEIVING # 949368
1 BOOK: 731 PAGE: 534
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
$ 420,000.00
Loan No. 72002926
$ 865,631.00
4/24/2007
7/15/2008
$265,601.80
$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 Third Judicial District Court, Lincoln County,
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 premises to grantee.
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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, tf) parties have executed this Agreement, Quitclaim Deed, and
Release of Mortgage as of this h day of -'"!4 If- Mb~ r 2009.
Estate of Bradley D. Morehouse
By
eslie More ouse
Personal Representative
1ST Bank, a Wyoming State Banking
Corporation
By
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STATE OF WYOMING
ss.
COUNTY OF L'
l
This instrument was acknowledged before me on the day of 2009, by
Leslie Morehouse as Personal Representative of Estate of Bradley D. Morehouse
Corey R. Miles N t P
Witness my hand and official seal.
My commission expires: ~
STATE OF WYOMING
ss.
COUNTY OF
o ary ublic
County of U*-, State of
Lincoln ing
Wyo m
My Commission Expires October 12, 2011
NOTARY PUBLIC
This instrument was acknowledged before me on the day of -2 , 2009,
by Michael Seppala as President of 1 ST Bank.
Witness my hand and official seal.
[PE N MENSM G NTARY PUBLIC
County ofgStte of
Uinta omi commission Exp~~es 3(~
j&4WP-UW 1
My commission expires:
Lo
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