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HomeMy WebLinkAbout956477ESTOPPEL AFFIDAVIT This Affidavit is made this 25thday of October 2010, by Meadowlark Construction, LLC, a Wyoming limited liability company, also sometimes previously referred to erroneously as "Meadowlark Construction Solitude Holdings, LLC, a Delaware limited liability company, also sometimes previously referred to erroneously as "Solitude Holding, LLC hereinafter referred to as the Grantors, Rex A. Doornbos and George V. Palomba, also sometimes known as George Palomba, hereinafter referred to as Guarantors, and Sarah Doornbos, and said Grantors and Guarantors and Sarah Doornbos, being first duly sworn, do depose and say as follows: That Grantors, or their predecessors in title, did execute and deliver two (2) Promissory Notes to 1 Bank, Alpine each of said Notes being secured by a mortgage of even date therewith, the first of which being a Mortgage dated January 29, 2007, which Mortgage was recorded February 12, 2007 in the Office of the Lincoln County Clerk, Lincoln County, Wyoming, in Book 648 at pages 607 et. seq., reception number 926744, and the second of which being a Construction Mortgage dated May 16, 2007, which Construction Mortgage was recorded May 29, 2007 in the office of the Lincoln County Clerk, Lincoln County, Wyoming in Book 659 at pages 579 et. seq., reception number 929782, the payment and performance of which Notes and Mortgages were guaranteed by the Guarantors; and Both of said Notes bearing interest thereon at the rates set forth in said Notes, and said Mortgages covering certain real property situated in the County of Lincoln, State of Wyoming, and more particularly described as follows, to wit: Unit 1, 2 and 3 of Wind Sock Condominiums, Identical with Lot 91 of Alpine Village Subdivision No. 1, Plat 2 Amended -9 Filing, as Recorded in the Office of the Lincoln County Clerk, Lincoln County, Wyoming, on March 21, 2008 as Document No. 937725, in the records of the Lincoln County Clerk; 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 right of way of record. 1 OOi.F536 That the Grantors and Guarantors have defaulted in the payments due on said Notes, upon which the principal amounts of 384,393.87 and $722,299.87, respectively, plus interest and certain foreclosure costs and other charges and expenses are at this time past due and outstanding, and Grantors and Guarantors hereby state that they are unable to meet the obligations of said Notes according to the terms thereof. That 1 Bank, Alpine is the present legal holder of the aforesaid Notes and Mortgages and that pursuant to an agreement with 1 Bank, Alpine, the Grantors made, executed and delivered that RECEIVED 11/1/2010 at 4:13 PM RECEIVING 956477 BOOK: 756 PAGE: 536 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 2 00 certain Deed in Lieu of Foreclosure dated October 25, 2010 2010, which conveyed the above described property to 1 Bank, Alpine, hereinafter referred to as the Grantee. That Grantors hereby acknowledge, agree and certify that the aforesaid Deed was an absolute conveyance of the Grantors' right, title and interest in and to said real estate, together with all buildings thereon and appurtenances thereunto belonging and appertaining, and with release of all dower and homestead rights in and to said real estate, and also conveyed, transferred and assigned the Grantors' rights of possession, rental and equity of redemption in and to said premises. That the value of said real estate is not in excess of the amount of total indebtedness outstanding, and in consideration of the premises hereof, in consideration of such conveyance, and in consideration of the execution and delivery to 1 Bank, Alpine of a Promissory Note in the sum of $30,000.00 from Guarantor Rex A. Doornbos and Sarah Doornbos, and in consideration of the execution and delivery to 1 Bank, Alpine of a Promissory Note in the sum of $30,000.00 from Guarantor George V. Palomba, the receipt of which Notes is hereby acknowledged by 1 Bank, Alpine, the Grantors and Guarantors will receive a full and complete release of personal liability on said Notes, 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 Oct 25 2010. That said Deed is given voluntarily by the Grantors to 1 Bank, Alpine, the Grantee, in good faith on the part of the Grantors and Grantee, without any fraud, misrepresentation, duress, or undue influence whatsoever or any misunderstanding on the part of the Grantors, and was not given as a preference against any creditors of the said Grantors. 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 Grantors' equity of redemption, and with full release of all Grantors' 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. Grantors understand that the giving of the above described Deed may interfere with the obtaining of further insured mortgage loans. That Grantors do 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 Grantors 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 representative, heirs, executors, administrators, and assigns of the undersigned. THE STATE OF COUNTY OF Wynmi ng Lincoln Witness my hand and official seal. ss. Meadowlark Construction, LLC, a Wyoming limited liability company By: Rex A. Doornbos, Manager Solitude Holdings, LLC, a Delaware limited liability company Rex A. Doornbos 000538 Sarah Doornbos The foregoing instrument was subscribed and sworn to before me this 27th day of October 2010, by Rex A. Doornbos, as Manager of Meadowlark Construction, LLC, a Wyoming limited liability company. 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 representative, heirs, executors, administrators, and assigns of the undersigned. THE STATE OF Wyoming COUNTY OF Lincoln Witness my hand and official seal. My Commission expires THE STATE OF Wyoming ss. ss. 3 Meadowlark Construction, LLC, a Wyoming limited liability company By: Rex A. Doornbos, Manager Solitude Holdings, LLC, a Delaware limited liability company By: George V. Palomba, Manager Rex A. Doornbos Sarah Doornbos George V. Palomba JAMES ROBINSON COUNTY OF LINCOLN NOTARY PUBLIC STATE OF WYOMING MY COMMISSION EXPIRES OCTOBER 19, 20 tor atlfa Notary Public C .bC9539 The foregoing instrument was subscribed and sworn to before me this 27th day of October 2010, by Rex A. Doornbos, as Manager of Meadowlark Construction, LLC, a Wyoming limited liability company. COUNTY OF The foregoing instrument was subscribed and sworn to before me this day of 2010, by George V. Palomba as Manager of Solitude Holdings, LLC, a Delaware limited liability company. Witness my hand and official seal. My Commission expires: THE STATE OF Wyoming COUNTY OF Lincoln The foregoing instrument was subscribed and sworn to before me this October 2010, by Rex A. Doornbos individually. Witness my hand and official seal. My Commission expires. THE STATE OF Wyoming COUNTY OF Lincoln The foregoing instrument was subscribed and sworn to before me this October Witness my hand and official seal. JAMES ROBINSON NOTARY PUBLIC COUNTY OF STATE OF LINCOLN WYOMING MY COMMISSION EXPIRES OCTOBER 19, 2011 My Commission expires. COUNTY OF THE STATE OF The foregoing instrument was subscribed and sworn to before me this day of 2010, by George V. Palomba individually. Witness my hand and official seal. My Commission expires: Notary Public Notary Public 1 761 I 2010, by Sarah Doornbos, individually. Notary Public (1,c 4 Notary Public O 5 4O 27th day of it �I iI /7 —t tom! 27th day of The foregoing instrument was subscribed and sworn to before me this ,f;r' day of (J` 2010, by George V. Palomba as Manager of Solitude Holdings, LLC, a Delaware limited liability company. Witness my hand and official seal. COMMONWEALTH OF PENNSYLVANIA Notary Public NOTARIAL SEAL JENNIE M. BRUDER, Notary Public My Comp i Delaware Co unty THE STATE OF Wyoming COUNTY OF Lincoln 'RYS'UBLIC STATE OF WYOMING COUNTY OF LINCOLN MY COMMISSION EXPIRES OCTOBER 19, 2011 THE STATE OF Wyoming COUNTY OF 4'f3E'STATE 0 The foregoing instrument was subscribed and sworn to before me this 27th day of October 2010, by Rex A. Doornbos individually. My Commission expires: Lincoln seal. The foregoing instrument was subscribed and sworn to before me this 27th day of October 2010, by Sarah Doornbos, individually. Witness my hand and official seal. JAMES ROBINSON NOTARY 1 COUNTY OF �,1 STATI LINCOLN MY COMMISSION EXPIRES OCTOBER 19, My Commission expire TYOF Notary Public 0i)541 COMMONWEALTH OF PENNSYLVANIA NOTARIAL SEAL JENNIE M. BRUDER, Notary Public Nether Providence Twp., Delaware County My sion S August f ,2014 re me th tries oregoing instrument was subscribed and sworn to bef 2010, by George V. Palomba individually. V'rtness my hand and official seal.