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HomeMy WebLinkAbout953885RECEIVED 6/10/2010 at 9:17 AM RECEIVING 953885 BOOK: 748 PAGE: 647 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY RECITALS AGREEMENT �J This agreement is made at Cokeville, Wyoming, on 1 2010, by Richard D. Petersen and Joanna M. Petersen, husband and wife, Robert N. Petersen and Carol D. Petersen, husband and wife, Raymond T. Petersen and Gwen H. Petersen, husband and wife, referred to as sellers, and, Kim J. Clark and Jill M. Clark, husband and wife, referred to as purchasers. 00064' 1. Sellers are the owners of real property situated in Lincoln County, Wyoming, and described as follows: A parcel of land situate within Tracts 67 and 77 of the resurvey of Township 23 North, Range 119 West of the Sixth Principal Meridian, lying west of the western boundary of the right -of -way for the Union Pacific Railroad Company and east of the centerline, or thread, of the Bear River, described in particular as follows: BEGINNING at point on the southern boundary of said Tract 67 from whence Corner No. 3 of said Tract bears West, 6.76 chains; THENCE meandering along the thread of Bear River North 3 °49' East, 7.96 chains; THENCE North 18 °24' East, 11.75 chains; THENCE NORTH 16 °22' West, 4.74 chains; THENCE North 83 °51' West, 9.34 chains; THENCE NORTH 11°46' East, 11.99 Chains; THENCE North 17 °53' West, 14.53 chains; THENCE North 27 °27' West, 15.18 chains, to a point on the thread of Bear River and a common point on the holdings of Weldon Dimond in said Tract 77; THENCE South 74 °28' East, 24.67 chains to the Westerly right of way boundary of said Union Pacific Railroad; THENCE ALONG said Westerly right -of -way boundary South 3 °2' West, 39.78 chains to the point of contact of a circular curve bearing right; THENCE South 4°33 West, 4.58 chains along the long chord of said curve, South 6 °5' West, 12.85 chains to the intersection of said Westerly right -of -way boundary and the South boundary of said Tract 67; THENCE West, 4.54 chains to the place of beginning, Containing 62.50 acres, more or less as varies by the survey thereof; TOGETHER with all improvements situate thereon; all easements and appurtenances thereunto belonging; all mineral rights thereunto belonging; all water and water rights thereunto belonging; and all shares or rights in the Mau Canal and the Smith's Fork Irrigation District thereunto belonging; and 2. Sellers desire to sell and purchasers desire to buy property, for the purchase price and on the terms and conditions set forth below. Now, therefore, in consideration of the mutual and reciprocal promises of the parties, the parties agree: SECTION ONE. PURCHASE PRICE AND TERMS OF PAYMENT The purchase price for the property is Forty -Eight Thousand Dollars ($48,000.00) to be paid as follows: 1. Five Thousand Dollars ($5000.00) down payment to be made at closing with the remaining balance of Forty -Three Thousand Dollars ($43,000.00) to be financed by Sellers over three years at four percent (4 annual interest, with three payments of principal and interest to be made on the first day of December of each year until paid in full and unless paid in full at a sooner date. SECTION TWO. TITLE Title to property to be conveyed by sellers shall be good and marketable title, clear of all liens, encumbrances, defects, and burdens, except utility easements and agreements with utility companies of record; existing right -of -ways of record; taxes and assessments not delinquent. Title as required by this agreement shall be evidenced by a standard form policy of title insurance issued by a title company acceptable to purchaser, doing business in the county where property is situated. The policy shall be issued as of the date of closing and shall be in the amount of the purchase price. Sellers shall obtain said policy prior to closing. Sellers shall convey title at the closing of the transaction to purchasers. SECTION THREE. COSTS The following costs shall be paid by sellers: Title insurance premium, taxes and assessments due to date, and any legal fees incurred by sellers. The following costs shall be paid by purchasers: Recording fees, survey fees, if any, and any legal fees incurred by purchasers. -2- SECTION FOUR. TRANSFER OF PROPERTY "Buyer and Seller both acknowledge that Buyers have had the opportunity of inspecting the above described property including any and all improvements located thereon and have performed any other due diligence that they desire pertaining to the condition of the property. Buyers acknowledge that they are accepting the property as is without any express warranty as to the condition of any such improvements located thereon and further that the Sellers are not representing or warranting any mineral rights or water rights thereunto belonging and Buyers shall be responsible for the determination as to the existence of any mineral rights and /or water rights relating to the property. Sellers agree to maintain the property, including improvements, in its present condition pending the dosing of this transaction, normal and reasonable wear accepted. Possession of the property shall be transferred to purchaser within fifteen (15) days after the closing of the sale." SECTION FIVE. TIME OF ESSENCE; CLOSING SECTION SIX. REMEDIES OF PARTIES 3 Time is expressly declared to be of the essence of this agreement. The agreement shall be executed and completed, and sale closed, on or before or such other date as the parties may in writing agree. Each party shall fully perform all the party's obligations under this agreement at such times as to insure that the closing takes place within the period specified, or any agreed -on extension of that period. 1. If purchasers fail or refuse to comply with the conditions assumed by purchasers, or to perform all of purchasers' obligations under this agreement for any reason other than an inability to obtain financing after a good faith effort, sellers may at sellers' option: (a) rescind and terminate the agreement, whereupon all rights and obligations under the agreement shall cease and(b) enforce this agreement by appropriate action, including an action for specific performance, or for damages for breach, and retain all monies paid or deposited by purchaser pending the determination of the action. Sellers shall give purchasers written notice of election with respect to sellers' exercise of either of these options. 2. If sellers fail or refuse to perform sellers' obligations under this agreement, including the furnishing of good title and transfer of possession, purchasers may either: (a) rescind the agreement and recover all deposits and other amounts paid by purchasers under this agreement, and all expenses paid or incurred by purchasers; or (b) pursue any remedy available to purchasers, in law or equity, including an action to compel specific performance of this agreement, or one for damages for breach, separately or alternatively. SECTION SEVEN. ASSIGNMENT; MODIFICATION; ENTIRE AGREEMENT OF PARTIES EXPRESSED No right or interest of purchasers under this agreement shall be assigned without the prior written consent of seller, which consent shall not be unreasonably withheld. No modification of this agreement shall be valid or binding unless the modification is in writing, duly dated and signed by both parties. This instrument constitutes the entire agreement between the parties. Neither party shall be bound by any terms, conditions, statements, or representations, oral or written, not contained in this agreement. Each party acknowledges that in executing this agreement the party has not been induced, persuaded, or motivated by any promise or representation made by the other party, unless expressly set forth in this agreement. All previous negotiations, statements, and preliminary instruments by the parties or their representatives are merged in this instrument. SECTION EIGHT. NOTICE SECTION NINE. "00650 All notice required by this agreement shall be in writing and shall be served on the parties or on their attorneys at their business addresses. The mailing of a notice by registered or certified mail, return receipt requested, shall serve as sufficient notice. Notices may also be served by personal delivery, by mail -o -gram, telegram, or by the use of a facsimile machine with proof of transmission and a copy of the notice with proof of transmission being sent by regular mail on the date of transmission. SIGNATURE AND EFFECTIVE DATE This instrument shall not be effective as an agreement until duly signed by both parties. The date of execution and the effective date of the agreement is the date first above set forth.The date of signature by each party is the date set forth unless otherwise indicated after the party's signature. In witness of the above, the parties have executed this instrument, in duplicate, on the day and year first written above. STATE OF WYOMING ss. COUNTY OF LINCOLN The foregoingdocument was acknowledged before me by RICHARD D. PETERSEN this 1 lyetiffiV r 1. icia Nolan/ Public Lincoln County Wyoming My Commission Expires it day of My Commission expires: c 5 STATE OF WYOMING ss. COUNTY OF LINCOLN The foregoing document was acknowledged before me by JOANNA M. PETERSEN this day of 2010. Witness my hand and official seal. JOSELYN M. HARMON Notary Public Lincoln County Wyoming My Commission Expires 2010. eal. SELLERS 9 0ANNA M. PETERSEN 41.4, N.% ARY P» :LIC "5" 000651 My Commission expires: ,;t `3 4.2 STATE OF WYOMING COUNTY OF LINCOLN ss. The foregoing document was acknowledged before me by ROBERT N. PETERSEN this S day of u 2010. My Commission expires: c ')a 2 STATE OF WYOMING ss. COUNTY OF LINCOLN day of The fg egoing document was acknowledged before me by CAROL D. PETERSEN this 2010. Witness my hand and official seal. My Commission expires: -c;15 T lca NOTA PUBLIC BERT N. PETE' SEN CAROL D. PETERSEN NO]7 RY PU LIC x r� �,y ;�0 52 STATE OF WYOMING COUNTY OF LINCOLN ss. L y tali tcial Notory Public Lincoln County Wyoming mission Expires io' T eal. My Commission expires: 0 5 My Commission expires: 5 7 GWEN H. PETERSEN PURCHASERS 000653 The foregoing document was acknowledged before me by RAYMOND T. PETERSEN this '3" day of t t i1 Q 2010. STATE OF WYOMING ss. COUNTY OF LINCOLN The foregoing document was acknowledged before me by GWEN H. PETERSEN this day of 04,t R 2010. Witness my hand and official seal. STATE OF WYOMING COUNTY OF LINCOLN The foregoing document was acknowledged before me by KIM J. CLARK this e day of 1 2010. NOW/ Public Lincoln County Wyoming My Commission Expires STATE OF WYOMING COUNTY OF LINCOLN ss. ss. JOSELYN M. HARMON Notary Public Lincoln County W My Commission Expires (95 -i seal. 41111111L..., 4 JIi/ My Commission expires: My Commission expires: 5 .y/ KIM J. CLARK JILL CLARK AC Jean. C1 71. YPU: CEO 0G54 T foregoing document was acknowledged before me by JILL M. CLARK this Y day of 2010. Witness my hand and official seal.