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HomeMy WebLinkAbout9558546010918581 DILPkg WARRANTY DEED IN LIEU OF FORECLOSURE WITNESSETH: RECEIVED 10/5/2010 at 4:02 PM RECEIVING 955854 BOOK: 755 PAGE: 36 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 000036 KNOW ALL MEN BY THESE PRESENTS, that this ARRANTY DEED IN LIEU OF FORECLOSURE is made as of this day of 2010, by and between Monica L. Weston, "Grantor whose present mailing address 91 South Valley Drive, Apartment 32, Evanston, WY 82930, and the Wells Fargo Bank, N.A. (the "Grantee whose mailing address is. 3476 Stateview. Blvd, Fort Mill, SC 29715. GRANTOR, for and in consideration of the sum of $10.00 and other good and valuable consideration, to Grantor 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 Grantor from any further liability for payment of the indebtedness outstanding and unpaid by Grantor pursuant to that certain Promissory Note dated as of August 29, 2008, in the original principal amount of $159,889.00, executed and delivered by Grantor to Grantee, by these presents, do hereby GRANTS, BARGAINS, CONVEYS, and WARRANTS unto Grantee all of her right, title, equity (including her 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: Parcel 1: Part of Lot 1 of Block 29 of the Afton Townsite, Lincoln County, Wyoming, described as follows: Commencing at the Northwest corner of said Lot 1 and running thence East 66 feet; thence South 125 feet; thence West 66 feet; thence North 125 feet to the Point of Beginning. Parcel 2: Part of Lot 2 of Block 29 of the Afton Townsite, Lincoln County, Wyoming, described as follows: Beginning at the Northeast corner of said Lot 2 and running thence West 10 feet; thence South 125 feet; thence East 10 feet; thence North 125 feet to the Point of Beginning. with an address of 56 5th Street, Afton, WY 83110 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 Grantor does hereby bind herself and her 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. BUT IT IS HEREBY EXPRESSLY ACKNOWLEDGED AND AGREED THAT: 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 DIL Package Weston 09 -27816 Page 1 of 3 L'0 Grantor in the Property, including specifically, but without limitation, any equity of redemption and the statutory right of redemption of Grantor therein or thereto. Grantee has forgiven and fully released Grantor from any and all debt, obligation, cost and charges existing under and by virtue of the promissory note dated August 29, 2008; B. The lien "Lien for which this Deed is given in lieu of foreclosure was created by that certain Mortgage dated as of August 29, 2008, executed and granted by Monica L. Weston, as grantor, to Cherry Creek Mortgage Co., 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 September 2, 2008, at Reception No. 941918 in Book 703 at Page 903. C. Said Mortgage was assigned to Wells Fargo Bank, N.A., its successors and assigns by that certain Corporate Assignment of Real Estate Mortgage, dated May 18, 2010 and recorded in the Records of the County Clerk and ex- officio Register of Deeds in and for Lincoln County, State of Wyoming, on June 1, 2010, at Reception No. 953762 in Book 748 at Page 259. D. Grantor agrees 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 Grantor 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 Grantor agrees 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 Grantor 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. DILPkg DIL Package Weston 09 -27816 Page 2 of 3 IN WITNESS WHEREOF, this Warranty Deed in Lieu of Foreclosure has been executed on behalf of Grantor 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. STATE OF COUNTY OF The oregoing i was acknowledged before me Monica L. Weston this (C day of C7 (,L71 Q 2010. DILPkg My Commission Expire Witness my hand and official s r GRANTOR: Monica L. Weston ACKNOWLEDGMENT SS. By 14/4 116V Notary Pu Title (and Rank) 00003$ DIL Package Weston 09 -27816 Page 3 of 3