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HomeMy WebLinkAbout9540756010918637 WARRANTY DEED IN LIEU OF FORECLOSURE WITNESSETH: 00 48 KNOW ALL MEN BY THESE PRESENTS, that this WARRANTY DEED IN LIEU OF FORECLOSURE is made as of this ,fry day of I1'/a/ 2010, by and between Val D. Rappleye and Kristene Rappleye, "Grantors whose present mailing address 1046 South Washington, Afton, WY 83110, and the BAC Home Loans Servicing, L.P. (the "Grantee whose mailing address is. 400 Countrywide Way, SV 35, P.O. Box 10232, Simi Valley, CA 93065 -6298. GRANTORS, for and in consideration of the sum of $10.00 and other good and valuable consideration, to Grantors in hand paid by Grantee, the receipt and sufficiency of which are hereby acknowledged and confessed, and further in consideration of (a) the waiver by Grantee of its rights under the mortgage described below, including the right to foreclose said mortgage, and (b) the agreement of Grantee to reduce, and thereby release Grantors from any further liability for payment of the indebtedness outstanding and unpaid by Grantors pursuant to that certain Promissory Note dated as of November 16, 2007, in the original principal amount of $373,500.00, executed and delivered by Grantors to Grantee, by these presents, do hereby GRANT, BARGAIN, CONVEY, and WARRANT unto Grantee all of their right, title, equity (including their equitable and statutory rights of redemption), and interest in and to the following described real property located in Lincoln County, State of Wyoming, more particularly described as: LOT 57 OF STAR VALLEY RANCH SUBDIVISION PLAT 12, LINCOLN COUNTY, WYOMING, AS SHOWN ON THE OFFICIAL PLAT THEREOF FILED AUGUST 10, 1977, AS RECEIVING NO. 496703, IN THE OFFICE OF THE CLERK, LINCOLN COUNTY, WYOMING, AS PLAT NO.209 with an address of 368 Alpine Way, Star Valley Ranch, WY 83127 hereto and by this reference made a part hereof, together with all buildings and improvements situate on said real property and all fixtures and appurtenances thereto (collectively, the "Property hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming. TO HAVE AND TO HOLD the Property, together with all and singular, any and all other rights and appurtenances thereto in anywise belonging unto Grantee, its successors and assigns FOREVER; and Grantors do hereby bind themselves and their successors and assigns to WARRANT and FOREVER DEFEND all and singular the Property unto Grantee, its successors and assigns, against every person whomsoever lawfully claiming or purporting to claim the same or any part thereof. THAT: BUT IT IS HEREBY EXPRESSLY ACKNOWLEDGED AND AGREED A. This Warranty Deed in Lieu of Foreclosure, and the conveyance being made hereunder, is being executed, delivered, and accepted in lieu of foreclosure of the Lien (as hereinafter described and defined), and as an absolute conveyance to Grantee of all right, title, equity, and interest of Grantors in the Property, including specifically, but without limitation, any equity of redemption and the statutory right of redemption of Grantors therein or thereto. Grantee has forgiven and fully released Grantors from any and all debt, obligation, cost and charges existing under and by virtue of the promissory note dated November 16, 2007; DILPkg RECEIVED 6/23/2010 at 3:49 PM RECEIVING 954075 BOOK: 749 PAGE: 487 JEANNE WAGNER LINCOLN COUNTY CLF"" "'EMMERER, WY DIL Package Rappleye 09 -29282 Page 1 of 3 B. The lien "Lien for which this Deed is given in lieu of foreclosure was created by that certain Mortgage dated as of November 16, 2007, executed and granted by Val D. Rappleye and Kristene Rappleye, as grantors, to Mortgage Electronic Registration Systems, Inc., as nominee for E -Loan, Inc., as mortgagee, and recorded in the records of the office of the County Clerk and ex- officio Register of Deeds in and for Lincoln County, State of Wyoming, on February 26, 2008, at Reception No. 937183 in Book 687 at Page 857 was. C. The Lein for which this Deed is given in lieu of foreclosure was assigned to BAC Home Loans Servicing, L.P., following the recording of the Assignment of Mortage, which was dated on February 3, 2010 and recorded in the records of the office of the County Clerk and ex- officio Register of Deeds in and for Teton County, State of Wyoming, on February 12, 2010, at Reception No. 952151 in Book 742 at Page 444. D. Grantors agree that if Grantee accepts title to the Property under this Warranty Deed in Lieu of Foreclosure, such acceptance will not create any liability on the part of Grantee to third parties who may have claims of any kind against Grantors in connection with the Property. Grantee will not under this Warranty Deed in Lieu of Foreclosure assume or agree to discharge any liabilities with respect to the Property that shall accrue or occur prior to the date on which this Warranty Deed in Lieu of Foreclosure is recorded in the records of the office of the County Clerk and ex- officio Register of Deeds in and for Lincoln County, State of Wyoming (the date on which such recording is made is hereinafter called the "Recording Date Grantors agree to indemnify and hold harmless Grantee from and against any loss, cost, damage, or expense (including attorneys' fees and court costs) resulting from claims arising out of the Property and arising from events that occurred prior to the Recording Date with respect to the Property. This Warranty Deed in Lieu of Foreclosure does not confer any third -party benefits on persons who are not signatory to this instrument other than Grantee. E. The acceptance of this Warranty Deed in Lieu of Foreclosure by Grantee is expressly conditioned upon and is subject to the representation and warranty of Grantors that title to the Property is good and indefeasible title, free and clear of all liens and encumbrances of any nature whatsoever, except for: (1) Any covenants, reservations, restrictions, conditions, exceptions, and easements of record in the chain of title as of the Recording Date; (2) Any liens of record in the chain of title (as of the Recording Date) which have priority over the Lien; (3) The Lien; and (4) Encumbrances permitted by the Lien. If title to the Property is not good and indefeasible as represented in this Paragraph D., then, at the option of Grantee, Grantee may, in addition to any other remedy available to it under this Warranty Deed in Lieu of Foreclosure, at law, or in equity, reinstate and revive the satisfaction and release of the Indebtedness, in which event, the satisfaction and release of the Indebtedness and any qualifications upon the Lien shall be null and void and ineffective for all purposes. IN WITNESS WHEREOF, this Warranty Deed in Lieu of Foreclosure has been executed on behalf of Grantors and Grantee on the date of the taking of their acknowledgments, but the effective date of this Warranty Deed in Lieu of Foreclosure for all purposes shall be deemed to be the Recording Date. DILPkg GRANTORS: Val D. Rappleye and Kristene Rappleye By: cti/il�e Val D. Rappleye DIL Package Rappleye 09 -29282 Page 2 of 3 00a488 STATE OF L),;(' SS. COUNTY OF r\co c ACKNOWLEDGMENT The foregoing instrument was acknowledged before me Val D. Rappleye and Kristene Rappleye this -)('p day of t•-kfl (C11 2010. DILPkg Witness my hand and official seal. My Commission Expires: 0.i, 3, 20( By: Kristene Rappleye My Commission Expires August 3, 2011 itle (and Rank) 1Oi.i 4S9 DIL Package Rappleye 09 -29282 Page 3 of 3