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Home My WebLink About955363RECORDATION REQUESTED BY: BANK OF UTAH LAYTON OFFICE 717 W ANTELOPE DR LAYTON, UT 84041 WHEN RECORDED MAIL TO: BANK OF UTAH LAYTON OFFICE 717 W ANTELOPE DR LAYTON, UT 84041 SEND TAX NOTICES TO: Joe M. Rainey 520 North 900 West Kaysville, UT 84037 RECEIVED 9/7/2010 at 4:48 PM RECEIVING 955363 BOOK: 753 PAGE: 273 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 6 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY LANDLORD'S ESTOPPEL CERTIFICATE THIS LANDLORD'S ESTOPPEL CERTIFICATE dated August 18, 2010, is made and executed among Joe M. Rainey, whose address is 520 North 900 West, Kaysville, UT 84037 "Grantor BANK OF UTAH, LAYTON OFFICE, 717 W ANTELOPE DR, LAYTON, UT 84041 "Lender and Lincoln County Airport Joint Powers Board, P.O. Box 1181, Afton, WY 83110 "Landlord Grantor and Lender have entered into, or are about to enter into, a financial transaction whereby Lender has acquired or will acquire a security interest or other lien on Grantor's leasehold interest in the Property described below. To induce Lender to extend one or more loans or other financial accommodations to Borrower against such security interest in the Property and for other valuable consideration, with knowledge that Lender is relying thereon, Landlord and Grantor hereby agree with Lender as follows: THE LEASE. Landlord has leased the Property to Grantor pursuant to a lease (the "Lease dated November 1, 2006 The following information is a summary of the basic terms and conditions of the Lease: Joe M. Rainey or Rainey Skies, LLC as (Lessee) in Lincoln County, State of Wyoming, commonly known as Hanger 44 of the Afton Lincoln Airport. REAL PROPERTY DESCRIPTION. The Lease covers the following described real property, together with all improvements thereon (the "Real Property located in Lincoln County, State of Wyoming: Leasehold Interest of Joe M. Rainey (Lessee) under that certain REAL PROPERTY LEASE AGREEMENT LOCATED AT THE AFTON- LINCOLN COUNTY AIRPORT dated the 1st day of November, 2006, between AFTON- LINCOLN COUNTY AIRPORT JOINT POWERS as (Lessor) and Joe M. Rainey or Rainey Skies, LLC as (Lessee) in Lincoln County, State of Wyoming, commonly known as Hanger 44 of the AFTON LINCOLN AIRPORT, being a part of a tract of land locate in Southwest Quarter of the Southeast Quarter (SW 1/4 SE 1/4) of section 36, Township 32 North, Range 119 West of the 6th P.M., Lincoln County, Wyoming, within the corporate boundaries of the Tow of Afton, Wyoming, 12- 3219- 36 -4 -00- 000 -44; as more described in EXHIBIT "A" The Real Property or its address is commonly known as Afton Lincoln Airport, Afton, WY 83110. The Real Property tax identification number is 12- 3219- 36 -4 -00- 000.44. ESTOPPEL. Landlord and Grantor hereby jointly and severally represent and warrant to Lender that: Lease in Effect. The Lease (i) has been duly executed and accepted by Landlord and Grantor, (ii) is in full force and effect, and (iii) has not been modified or changed, either in writing or orally, except as reflected in the copy of the Lease provided to Lender. No Default. As of the date of this Certificate, (i) all conditions and obligations to be performed by either Landlord or Grantor under the Lease, to the date hereof, have been satisfied; (ii) there exists no breach, default, or event or condition which, the giving of notice or the passage of time, or both, would constitute such a breach or default under the Lease; and (iii) there are no existing claims, defenses or offsets against obligations of either Landlord or Grantor under the Lease, including any against rents due or to become due under the terms of the Lease. Entire Agreement. The Lease constitutes the entire agreement between Landlord and Grantor with respect to the Lease of the Property. No Prepaid Rent. No deposits or prepayments of rent have been made in connection with the Lease, except as may be described above in the summary description of the Lease. AGREEMENTS. Landlord and Grantor hereby jointly and severally agree with Lender that, during all such times as Lender is the beneficiary of the security interest in the Property described above: Modification, Termination and Cancellation. Landlord and Grantor will not consent to any modification, termination or cancellation of the Lease unless Lender first consents thereto in writing. Notice of Default. Landlord will notify Lender in writing concurrently with any notice given to Grantor of any breach or default on the part of Grantor under the Lease, and Landlord agrees that Lender shall have the right (but not the obligation) to cure any breach or default specified in such notice within the time periods set forth below and Landlord will not declare a default of the Lease, if Lender cures such default within thirty (30) days from and after expiration of the time period provided in the Lease for the cure thereof by Grantor; provided, however, that if such default cannot with diligence be cured by Lender within such thirty (30) day period, the commencement of action by Lender within such thirty (30) day period to remedy the same shall be deemed sufficient so long as Lender pursues such cure with diligence. COUNTERPARTS AND ELECTRONIC SIGNATURES. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original instrument and all of which shall constitute a single agreement. The signature of a party to any counterpart shall be sufficient to legally bind such party and it shall not be necessary for all parties to sign all counterparts. Lender may remove the signature pages from one or more counterparts and attach the same to any other counterpart for the purpose of having a single document containing the signatures of all parties. Any party may effect Loan No: 7729 the execution and delivery of this Agreement by signing the same and sending a signed copy thereof to Lender or its attorney by facsimile, e -mail, or other form of electronic transmission (each an "Electronic Transmission Any signed document sent by Electronic Transmission, including the signature thereon, shall be treated in all respects as an original instrument bearing an original signature. Any party sending a signed copy hereof by Electronic Transmission shall also send the original thereof to Lender within five (5) days thereafter, but failure to do so shall not invalidate or otherwise affect the validity, legality or enforceability of the document sent by Electronic Transmission. MISCELLANEOUS PROVISIONS. This Certificate shall extend to and bind the respective heirs, personal representatives, successors and assigns of the parties to this Certificate. This Certificate shall be governed by and construed in accordance with the laws of the State of Wyoming. If Landlord is other than an individual, any agent or other person executing this Certificate on behalf of Landlord represents and warrants to Lender that he or she has full power and authority to execute this Certificate on Landlord's behalf. Lender shall not be deemed to have waived any rights under this Certificate unless such waiver is in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Certificate shall not constitute a waiver of or prejudice Lender's right otherwise to demand strict compliance with that provision or any other provision. GRANTOR AND LANDLORD EACH ACKNOWLEDGE HAVING READ ALL THE PROVISIONS OF THIS LANDLORD'S ESTOPPEL CERTIFICATE, AND EACH AGREES TO ITS TERMS. THIS CERTIFICATE IS DATED AUGUST 18, 2010. GRANTOR: LANDLORD: LINCOLN COU By. gnature or coin County Airport Date Joint Powers Bo rd LENDER: BANK OF UTAH Authorifficer TY AIRPORT JOINT POWERS BOARD LANDLORD'S ES! urr'EL CERTIFICATE ►.r• f 4 (Continued) Page 2 Date LANDLORD'S ESTOPPEL CERTIFICATE Loan No: 7729 (Continued) This instrument was acknowledged before me on INDIVIDUAL ACKNOWLEDGMENT State of t e 1 County of (J S This instrument was acknowledged before me on t L• (date) by Joe M. Rainey. otarial Signature) My commission expires: CORPORATE ACKNOWLEDGMENT date) by (Notarial Signature) My commission expires: 0275 Page 3 KAREN BROWN NOTARY PUBLIC County of State Lincoln Wyomino My Commission Expires June 30 Loan No: 7729 State of to. k County of D 0 i S This instrument was acknowledged before me on LANDLORD'S ES i uriEL CERTIFICATE 0027 (Continued) LENDER ACKNOWLEDGMENT 4 ?i PC, (date) by btarial Signature My commission expires: 7 1 P Page 4 LASER PRO Lending, Ver. 5.50.00.006 Copr. Harland Financial Solutions, Inc. 1997, 2010. All Rights Reserved. WY /UT Q: \LOANS \CFI \LPL \G208.FC TR -15748 PR -27 The Southwest Quarter (sWarg), We tvE Half dt Southeast Quallrter igest,HaIf of tfle Nor; Siltation 36 Towmehip 6th PM. MYOraing 1$egit1ting at point which is one har444,rell.-+.24rt C132y, oaf the Solithwett, corer ;of the Southeast :Quart:et of tho (6E4SE .$06tica 36, -VoiettShip 32 North; .149 Wt of the 6th 1 Wymilw and running thflce iorth thre iiundr thfrty (336) .f at on hunrd Vitr 4321 fet, therxoe Sot-Ii hundrd hhirty 10 tpat, 1:04#dre4L'Utir:ty=*two (132) feet to the Point of betArtning* ALSO .EXCSPTINe4. e.45*);.1.ning:Hat ,Orn,F,411.7.• of the:: Quarter of the :,N04.4.,ItteliSst .tatlb..sttet! (N$444,1,01/4).00ptipA-304 TOT01$1110:'.5; North, Rang 110 1;47,t464#44, nd thP.,170:-,t4074 ten 110 rods7 #:#41'400HotllthHO* 14 °4m thirty ti*OAdi WOO# ten '.rods thIx*v-c301 ttfi ot,'Hb4141,0 "Exhibit.A" 000277 Of the eroutheast Quartor the Northwest 4/12w:ter of the SZ1/4)e and 'Waste Half of the east Oaartt' (Wrgiatk) 0 2 North/ Range 11'9 we's:t of the