HomeMy WebLinkAbout952857AGREEMENT FOR DEED IN LIEU OF FORECLOSURE 00033
THIS AGREEMENT entered into this day of March, 2010, between BRENT
ODJICK AND JESSICA ODJICK, Husband and Wife, and the BANK OF STAR VALLEY, INC.
WITNESSETH
WHEREAS, BRENT ODJICK AND JESSICA ODJICK are currently indebted to the BANK
OF STAR VALLEY, INC. pursuant to a Note dated October 19, 2008, including interest and other
miscellaneous expenses, including but not limited to reasonable attorney's fees and legal expenses
with said interest continuing to accrue; and
WHE,REA;:s, the ine hl'.edlies referred to is. secured by rno ge 1 real property located in
Lincoln County, Wyoming, said mortgage dated October 19, 2007, and recorded October 24, 2007,
with the Clerk of Lincoln County, Wyoming, in Book 676 PR, Page 557; and
WHEREAS, the referenced Mortgage secured the above described promissory note; and
WHEREAS, borrowers are in default under the terms of the aforementioned Note and
Mortgage; and
WHEREAS, the parties hereto desire to avoid the further time, expense, and attorneys fees
associated with foreclosure; and
THEREFORE, based upon good and valuable consideration, as acknowledged by each party,
and as set forth herein, and based upon the mutual covenants and conditions listed in this Agreement,
the parties agree as follows:
1. In lieu of foreclosure, BRENT ODJICK AND JESSICA ODJICK, Husband and Wife,
agree to convey, and the BANK OF STAR VALLEY, INC. agrees to accept, a Warranty Deed
transferring all right. title and interest of BRENT ODJICK AND JESSICA ODJICK. Husband and
Wife, as "Tenants by the 'Entireties, in the following described real property:
A portion of the Southeast 1/4 Southeast 1/4 of SECTION 26, TOWNSHIP 36 NORTH,
RANGE 119 WEST, of the 6th P.M., Lincoln County, Wyoming being more particularly
described as follows:
BEGINNING at a Cotton Gin Spike set at a point in the South line of said Southeast 1/4
Southeast 1/4, said point being 536.41 feet North 88 °47'55" West from the Spike found
marking the Southeast corner of said Southeast 1/4 Southeast 1/4, thence North 88 °47'55"
West, continuing along said South line, 384.30 feet to Cotton Gin Spike set marking the
Southeast corner of the Cullimore property; thence North, along the East line of said
Cullimore property, 678.13 feet to an iron set at a point in the South line of Nordic Ranches
Division No. 3 Subdivision, more particularly being Lot 27; thence South 89 °29'46" East,
along said Lot 27 South line, 92.54 feet to a Plastic Cap on Rebar found marking the
Southwest corner of Lot 28;
RECEIVED 4/12/2010 at 11:13 AM
RECEIVING 952857
BOOK: 745 PAGE: 334
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
00033
thence South 89 °35'45" East, along the South line of said Lot 28, 268.20 feet to a Plastic Cap
on Rebar found marking the Southwest corner of Lot 29;
Thence South 89 °32' 12" East, along the South line of said Lot 29, 23.48 feet to an iron pipe
set marking the Northwest corner of the Sanderson property;
thence South, along the West line of said Sanderson property, 683.30 feet, to the
POINT OF BEGINNING.
Which is known as 881 County Road 107, ETNA, LINCOLN COUNTY,
WYOMING, 83118.
2. All income realized from the property after the Deed in Lieu of Foreclosure is
executed shall belong to the BANK OF STAR VALLEY, INC.
3, That the BANK. OF STAR VALLEY, INC. does not assume nor will it be liable for
any debts of BRENT ODJICK AND JESSICA ODJICK, Husband and Wife, which were incurred
before or after the execution of the Deed in Lieu of Foreclosure.
4. That BRENT ODJICK AND JESSICA ODJICK will execute the necessary Affidavits
and other documents to allow the BANK OF STAR VALLEY, INC. to obtain title insurance on the
property, including proper lien coverage and will work with the BANK OF STAR VALLEY, INC. in
every manner including the timely execution of all documents to facilitate the transfer contemplated
by this Agreement.
5. This Agreement shall be binding on all successors, assigns and representatives, heirs
and agents of the parties.
IN WITNESS WHEREOF, the party has hereto placed her signature on the date and year
above written.
STATE OF WYOMING
COUNTY OF LINCOLN
s s.
The foregoing instrument was acknowledged before me by BRENT ODJICK AND
JESSICA ODJICK, Husband and Wife, this l day of March, 2010.
_WITNESS_my hand and official seal.
;�t~IEIDI ROBERTS NOTARY PUBLIC
COUNTY OF STATE OF
LINCOLN WYOMING
My d MY Po ,n p ES ocT, 1 w 4 6 0
44v .ber
JESSI A ODJICK
NOTARY PUBLIC