HomeMy WebLinkAbout955665STATE OF WYOMING
ESTOPPEL AFFIDAVIT
L 253
ss:
This Affidavit is made this day of September, 2010, by R &R BUILDERS,
INC., a Wyoming Corporation, and ROBERT WAGNER and RAY BERGSTROM, as
officers of said corporation and as individuals, hereinafter referred to as the Grantor, and said
Grantor being first duly sworn does depose and say as follows:
COUNTY OF LINCOLN
That Grantor did, on October 17, 2007, execute and deliver a Promissory Note to 1st
Bank, of Alpine, Wyoming, said Note being in the principal sum of $461,946.00 with
interest thereon at the rate set forth in said Note and said Note being secured by a Mortgage
of even date therewith, which Mortgage was filed of record on October 22, 2007, in Book
676, at Page 269, in the Office of the County Clerk of Lincoln County, Wyoming Terms of
said Mortgage were changed on October 9, 2008, adding $55,000 to the original loan
amount, thus increasing the principal amount to $517,000.00. Said Mortgage covers certain
real property situated in the County of Lincoln, State of Wyoming, and being more
particularly described as follows, to wit:
Lot 34 of Salt River Cove Division No. 2, Lincoln County, Wyoming as
described on the official plat thereof, together with all improvements thereon,
and easements, appurtenances and incidents belonging or appertaining thereto,
or used in connection therewith; subject, however, to all mining, mineral and
other exceptions, reservations, covenants, conditions and rights of way of
record.
That the Grantor has defaulted in the payments due on said Note upon which the
principal amount of 517,489_00 plus interest is at this time past due and
outstanding, Grantor hereby stating that they are unable to meet the obligations of said Note
according to the terms thereof.
That 1st Bank, of Alpine, Wyoming, is the present legal holder of the aforesaid Note
and Mortgage and that pursuant to an agreement with the said 1st Bank, of Alpine,
Wyoming, the Grantor made, executed and delivered that certain Deed in Lieu of
Foreclosure of even date herewith, which conveyed and transferred the above described
property to 1st Bank, of Alpine, Wyoming, hereinafter referred to as the Grantee.
The Grantor hereby acknowledges, agrees and certifies that the aforesaid Deed in Lieu
of Foreclosure is an absolute conveyance and transfer of the Grantor's right, title and interest
in and to said real estate, together with all improvements thereon and appurtenances
thereunto belonging and appertaining, and with release of all dower and homestead rights in
and to said real estate, and the aforesaid Deed in Lieu of Foreclosure has also conveyed,
transferred and assigned the Grantor's right of possession, rental and equity of redemption in
and to said premises. The Grantor further acknowledges, agrees and certifies that the value
of the Grantor's equity in said real estate is not in excess of the amount of total indebtedness
outstanding, and in consideration of the premises hereof and in consideration of such
conveyance, the Grantor will receive a full and complete release of personal liability on said
Note, together with the cancellation of record of said indebtedness by said Grantee upon
acceptance of said Deed by the Grantee and approval of title by the Grantee and subject
further to the condition that the premises have been vacated on or before September 21 .2010
2010.
The Grantor further acknowledges, agrees, and certifies that said Deed is given
RECEIVED 9/23/2010 at 3:28 PM
RECEIVING 955665
BOOK: 754 PAGE: 253
JEANNE WAGNER
•.rr,r'n %AA/
-1-
voluntarily by the Grantor to 1st Bank, of Alpine, Wyoming, the Grantee, in good faith on
the part of the Grantor and Grantee, without any fraud, misrepresentation, duress, or undue
influence whatsoever or any misunderstanding on the part of the Grantor, and was not given
as a preference against any creditors of the said Grantor; that said Deed shall not restrict the
right of the Grantee to institute foreclosure proceedings if it desires, but the conveyance by
said Deed shall be and is hereby intended and understood to be an absolute conveyance and
an unconditional sale, with full extinguishment of Grantor's equity of redemption, and with
full release of all Grantor's rights, title and interest of every character in and to said property,
subject to the acceptance of said Deed by the Grantee and approval of title by the Grantee,
and subject further to the condition that the premises have been vacated. Grantor
understands that the giving of the above described Deed may interfere with the obtaining of
further insured mortgage loans.
That Grantor does hereby assign to the Grantee all hazard insurance policies now in
effect on the above described property and all escrow deposits for the payment of taxes,
insurance and other loan purposes (if any) presently held by the Grantee, and Grantor further
assigns to the Grantee the right to receive payment of any claim payable under the terms of
said insurance policies, including any premium refund now or hereinafter payable.
This Affidavit has been made for the protection and benefit of the Grantee in the
aforesaid Deed, its successors and assigns, and all other parties hereafter dealing with or who
may acquire an interest in the property described therein, and shall bind the representatives,
heirs, executors, administrators, and assigns of the undersigned.
By: ,ji V``i' 4
ROBERT WAGNER, l esident of
R &R BUILDERS, INC.
61
ROBERT WAGNER, Individually
State of Wyoming
County of Lincoln
My Commission Expire
ss.
By:
LAC,
)254
RAY BERGgTROM, Vice President of
R &R BUILDERS, INC.
RAY'BER STROM, Individually
The foregoing instrument was acknowledged, subscribed and sworn to before me by
R &R BUILDERS, INC., ROBERT WAGNER, and RAY BERGSTROM, personally known
to me this ?fi day of September, 2010.
Notary Public
1°1 '1
2
JAMES ROBINSON
COUNTY OF
LINCOLN
NOTARY PUBLIC
STATE OF
WYOMING
MY COMMISSION EXPIRES OCTOBER 19, 2011