The URL can be used to link to this page

Home My WebLink About955364Tax Serial Number: 12- 3219- 36 -4 -00- 000.4 RECORDATION REQUESTED BY: BANK OF UTAH ROY OFFICE 5741 SOUTH 1900 WEST ROY, UT 84067 WHEN RECORDED MAIL TO: BANK OF UTAH ROY OFFICE 5741 SOUTH 1900 WEST ROY, UT 84067 SEND TAX NOTICES TO: Joe M. Rainey 1539 South Cliff Point Circle St. George, UT 84790 RECEIVED 9/7/2010 at 4:51 PM RECEIVING 955364 BOOK: 753 PAGE: 278 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 000278 FOR RECORDER'S USE ONLY LANDLORD'S ESTOPPEL CERTIFICATE THIS LANDLORD'S ESTOPPEL CERTIFICATE dated January 26, 2010, is made and executed among Joe M. Rainey, whose address is 1539 South Cliff Point Circle, St. George, UT 84790 "Grantor BANK OF UTAH, ROY OFFICE, 5741 SOUTH 1900 WEST, ROY, UT 84067 "Lender and AFTON- LINCOLN COUNTY AIRPORT JOINT POWERS BOARD, Afton, WY "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, which was recorded as follows: Entry No.: q 5 0 0 Recording Date: f -21 -10 H? Office No.: 0 Book No.: `7'/ Page No.: 52 Grantor agrees to allow the above information to be entered at a later date. The following information is a summary of the basic terms and conditions of the Lease: REAL PROPERTY LEASE AGREEMENT LOCATED AT THE AFTON- LINCOLN COUNTY AIRPORT between LINCLOL COUNTY AIRPORT JOINT POWERS BOARD (Lessor) and Joe M. Rainey or Rainey Skies, LLC (Lessee) dated 1st day of November 2006; Term of this agreement: 40 years; Rent Amount: $539.00 for the five (5) years; $588.00 for the second five (5) years; $588.00 for the third five (5) year period; $637.00 for the fourth five (5) year period; $686.00 for the fifth five (5) year period; $735.00 for the sixth five (5); $784.00 for the seventh five (5) year period; $833.00 for the last five (5) year period 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 prart of a tract of land locate in Southwest Quarter of the Southease 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 as follows: The Southwest Quarter of the Southeast Quarter (SW'/ <SE' West Half of the Northwest Quarter of the Southeast Quarter (W' NW' %SE'/ and West Half of the West Half of the Northeast Quarter (W' W' /xNE' /a) of Section 36, Township 32 North, Range 119 West of the 6th P.M., Wyoming; EXCEPTING THEREFROM: Beginning at a point which is one hundred thirty -two (132) feet West of the Southwest corner of the Southeast Quarter of the Southeast Quarter (SE'/4SE'A) OF Section 36, Township 32 North, Range 119 West of the 6th P.M., Wyoming, and running thence North three hundred thirty (330) feet, thence East one hundred thirty -two (132) feet, thence South three hundred thirty (330) feet, thence West one hundred thirty -two (132) feet to the point of beginning. ALSO EXCEPTING: Beginning at the Northwest corner of the Northwest Quarter of the Northwest Quarter (NW% NW of Section 36, Township 32 North, Range 119 West of the 6th P.M., Wyoming, and running thence East ten (10) rods, thence South sixteen (16) rods thirty (30) feet, thence West ten (10) rods, thence North sixteen (16) rods thirty (30) feet to the point of beginning The Real Property or its address is commonly known as AFTON- LINCOLN COUNTY 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 Loan No: 7631 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. 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 Utah. 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 JANUARY 26, 2010. GRANTOR: Jo Rainey, Ihdividually LANDLORD: AFTON INCOLN COUNTY AIRPORT JOINT POWERS BOARD r By: ignature for A LINCOLN COUNTY AIRPORT JOINT PO1DEf&6 BOARD LENDER: BANK OF UTAH X Authorize fficer 000279 LANDLORD'S ESTOPPEL CERTIFICATE (Continued) Date Date Page 2 Loan No: 7631 STATE OF UTAti COUNTY OF WERE LANDLORD'S ESTOPPEL CERTIFICATE (Continued) INDIVIDUAL ACKNOWLED On this day before me, the undersigned Notary Public, personally appeared Joe M. Rainey, to me known to be the individual described in and who executed the Landlord's Estoppel Certificate, and acknowledged that he or she signed the Certificate as his or her free and voluntary act and deed, for the uses and purposes therein mentioned. Given under my hand and official seal this Byr (A J,4 J ivrOciA -1 Notary Public in and for the t to of OA My commission expires SS CORPORATE ACKNOWLEDGMENT STATE OF SS COUNTY OF On this day of 20 before me, the undersigned Notary Public, personally appeared and known to me to be (an) authorized agent(s) of the corporation that executed the Landlord's Estoppel Certificate and acknowledged the Certificate to be the free and voluntary act and deed of the corporation, by authority of its Bylaws or by resolution of its board of directors, for the uses and purposes therein mentioned, and on oath stated that he or she /they is /are authorized to execute this Certificate and in fact executed the Certificate on behalf of the corporation. By Residing at Notary Public in and for the State of My commission expires STATE OF (A4 t COUNTY OF 't'- Lc Residing at 2oV, UrAE{ LENDER ACKNOWLEDGMENT SS 0002E__ LINDA SCHIFFMAN Notary Public State of Utah 5741 O Sm� Expires RoMar T 64067 day of J AIJUAKt 2010 Page 3 On this 9 P day of •.SG in tic: 20 C C before me, the undersigned Notary Public, personally appeared S e,� i44 .r and known to me to be the v' R, authorized agent for BANK OF UTAH that executed theiwithin and foregoing instrument and acknowledged said instrument to be the free and voluntary act and deed of BANK OF UTAH, duly authorized by BANK OF UTAH through its board of directors or otherwise, for the uses and purposes therein mentioned, and on oath stated that he or she is authorized to execute this said instrument and in fact executed this said instrument on behalf of BANK OF UTAH. By (Mak, Residing at ?0V OTAM- Notary Public in and for the S e of dTAA My commission expires Loan No: 7631 LANDLORD'S ESTOPPEL CERTIFICATE 000281 (Continued) Page 4 LASER PRO Lending, Ver. 5.46.00.003 Copr. Harland Financial Solutions, Inc. 1997, 2010. All Rights Reserved. UT Q: \LOANS \CFI \LPL \G208.FC TR -14927 PR -27