The URL can be used to link to this page

Home My WebLink About954350AGREEMENT FOR DEED IN LIEU OF FORECLOSURE 000364 THIS AGREEMENT entered into this iv day of July, 2010, between JAMES D. McMURDO and MATTHEW W. McMURDO, Trustees of the Thunderstick Ranch Family Trust, dated August 21, 2006, and as individuals, and the BANK OF STAR VALLEY, INC. WITNESSETH WHEREAS, the Thunderstick Ranch Family Trust, dated August 21, 2006 is currently indebted to The BANK OF STAR VALLEY, INC. pursuant to a Note dated on or about November 18, 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 WHEREAS, the indebtedness referred to is secured by a mortgage to real property located in Lincoln County, Wyoming, said mortgage dated on or about November 18, 2008, and recorded November 18, 2008, with the Clerk of Lincoln County, Wyoming, in Book 709 PR, Page 247; and WHEREAS, the referenced Mortgage secured the above described promissory note; and WHEREAS, borrower is 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 and in consideration of the sum of Four Thousand Dollars ($4,000.00), to be paid to JAMES D. McMURDOI JAMES D. McMURDO and MATTHEW W. McMURDO, Trustees of the Thunderstick Ranch Family Trust, dated August 21, 2006. and as individuals, agree to convey, and The BANK OF STAR VALLEY, INC. agrees to accept, a Warranty Deed transferring all right, title and interest of JAMES D. McMURDO and MATTHEW W. McMURDO, Trustees of the Thunderstick Ranch Family Trust, dated August 21, 2006, and as individuals, in the following described real property: A tract of land lying in the SE1 /4NW1/4 of Section 7, T3 IN, R118W of the 6th P.M., Wyoming, lying East of U. S. Highway FAP Route 10 -3, Route 89, more particularly described as follows: BEGINNING at an iron pipe marking the intersection of the North line of said SE1 /4NW1 /4 with the Easterly line of said Highway 89, 150 feet wide; thence RECEIVED 7/13/2010 at 11:03 AM RECEIVING 954350 BOOK: 750 PAGE: 364 JEANNE WAGNER ...ri i.� rrw VCRARACOCO 1AN running N89 °30'44 "E along said North line, a distance of 1075.73 feet to a brass cap marking the Northeast corner of said SE1 /4NW1 /4; thence South, along the East line of said SE1 /4NW1 /4 1321.78 feet to a brass cap monument set to mark the middle 1/4 corner of said Section 7; thence S89 °30'44 along a fence marking the South line of said SE1 /4NW1 /4, a distance of 306.99 feet to an iron pipe set at the intersection of last said South line with said Easterly line of Highway 89, said point lying on the arc of a curve having a radius of 2939.789 feet from which a radial line bears S72 °54'08 "W and a tangent bears N17 °05'52 "W; thence Northwesterly, along said curve, concave to the Southwest, through a central angle of 16 °48'32 an arc distance of 862.45 feet to a concrete monument found marking the East line SC -Sta 620 -64.88 of said Highway 89; thence continuing., Northwesterly along the arc of a 2 °00 spiral curve (a direct line bearing being N35 °55' 17 "W and a distance being 303.73 feet) to a concrete monument marking the Easterly T. S. Sta. 617 64.88 of said Highway U. S. 89; thence N36 °54'24 "W along a tangent of said Easterly line, a distance of 367.23 feet to the point of beginning, containing 19.282 acres of land more or less. Together with rights -of -way, easements of sight and record with water rights and improvements. 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 JAMES D. McMURDO and MATTHEW W. McMURDO, Trustees of the Thunderstick Ranch Family Trust, dated August 21, 2006, and as individuals, and the Thunderstick Ranch Family Trust which were incurred before or after the execution of the Deed in Lieu of Foreclosure. 4. That JAMES D. McMURDO and MATTHEW W. McMUR.DO, Trustees of the Thunderstick Ranch Family Trust, and as individuals, 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. 000365 IN WITNESS WHEREOF, the party has hereto placed their signature on the date and year above written. y 2?. JAMES D. McMURDO, Trustee Thunderstick Ranch Family Trust, Dated August 21, 2006 STATE OF WYOMING COUNTY OF LINCOLN My Commission Expires: STATE OF WYOMING COUNTY OF LINCOLN My Commission Expires: ss. JAMES D. McMURDO ss. MATTHEW W. McMURDO, Trustee Thunderstick Ranch Family Trust, Dated August 21, 2006 l��o�i may w-' ly sr MATTHEW W. McMURDO The foregoing instrument was acknowledged before me by JAMES D. McMURDO, Trustee, Thunderstick Ranch Family Trust, dated August 21, 2006, this /0 day of July, 2010. G(f NOT2RY PUBLIC e00366 zi STEVEN A. HARTWEU. NOTARY PUBUC COUNTY OF STATE OF LINCOLN WYOMING MY COMMISSION EXPIRES JULY 8, 2014 The foregoing instrument was acknowledged before me by MATTHEW W. McMURDO, Trustee, Thunderstick Ranch Family Trust, dated August 21, 2006, this /6 day of July, 2010. NOTARY PUBLIC STEVEN A PAMVE L NOTARY PUBLIC j h(;:i,F:' vt f C STATE OF WYOMING COUNTY OF LINCOLN My Commission Expires: STATE OF WYOMING COUNTY OF LINCOLN My Commission Expires: ss. The foregoing instrument was acknowledged before me by JAMES D. McMURDO this day of July, 2010. STEVEN A. HARTWELL COUNTY OF LINCOLN NOTARY PUBLIC STATE OF WYOMING MY COMMISSION EXPIRES JULY 8, 2014 ss. STEVEN A. HARTWELL NOTARY PUBUC COUNTY OF 1 STATE OF LINCOLN WYOMING MY COMMISSION EXPIRES JULY 8, 2014 PUBLIC NOTARY PUBLIC 0 0 0367 he foregoing instrument was acknowledged before me by JAMES D. McMURDO this day of July, 2010.