HomeMy WebLinkAbout957644RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
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ABSOLUTE ASSIGNMENT AND ASSUMPTION
OF MORTGAGE AND LOAN DOCUMENTS
(See attached Schedule 1)
RECEIVED 1/14/2011 at 4:38 PM
RECEIVING 957644
BOOK: 760 PAGE: 732
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
OQO'73q
This ABSOLUTE ASSIGNMENT AND ASSUMPTION OF MORTGAGE AND LOAN
DOCUMENTS (this "Assignment is made as of September 29, 2010, by Wells Fargo Bank,
National Association "Assignor in favor of Hickman Land Title Company "Assignee
1. FOR VALUE RECEIVED, Assignor hereby absolutely and irrevocably endorses,
negotiates, sells, assigns, conveys, and transfers to Assignee all of Assignor's right, title, and
interest in and to the "Loans" (as such term is defined in Schedule 1 attached hereto and
incorporated herein by this reference), including, without limitation, all of Assignor's right, title,
and interest in and to the following:
2. THIS ASSIGNMENT IS WITHOUT RECOURSE, REPRESENTATION OR
WARRANTY WHATSOEVER, EXPRESS OR IMPLIED, EXCEPT AS EXPRESSLY
PROVIDED IN THAT CERTAIN LOAN SALE AGREEMENT, DATED AS OF
SEPTEMBER 28, 2010, BETWEEN ASSIGNOR AND ASSIGNEE (the "Loan Sale
Agreement
3. Assignee hereby agrees to and accepts the assignment described in Paragraph 1
above. In addition, Assignee hereby expressly assumes and agrees to keep, perform, and fulfill
all of the terms, covenants, obligations, and conditions required to be kept, performed, and
fulfilled by Assignor under, and/or with respect to, the Loans from and after the date of this
Assignment. Assignor hereby agrees to deliver to each person or entity currently obligated to
pay and perform the obligations of the borrower under the Loans (the "Borrower any notice
required by law to inform such Borrower that Assignor has transferred its interest in the Loans to
Assignee as of the date hereof. Assignee hereby indemnifies Assignor against, and shall defend
and hold Assignor harmless from (using counsel reasonably satisfactory to Assignor), any and all
damages, liabilities, costs, expenses, and losses (including, without limitation, attorneys' fees and
costs) that Assignor may sustain or incur directly or indirectly arising out of or related to any
breach or default in Assignee's obligations under the Loans or in Assignee's obligations
hereunder, from and after the Closing Date.
4. Without limiting the generality of Paragraph 3 above, Assignee also hereby
acknowledges and agrees that it shall be solely responsible for compliance with any laws, rules,
or regulations governing the ownership, servicing, and/or administration of the Loans from and
after the Closing Date.
5. Assignee specifically indemnifies Assignor against, and shall defend and hold
Assignor harmless from (using counsel reasonably satisfactory to Assignor), any and all
damages, liabilities, costs, expenses, and losses (including, without limitation, attorneys' fees and
costs) that Assignor may sustain or incur by reason of Assignee's failure to comply with the
terms and conditions of the Loan Sale Agreement and the foregoing Paragraph 4.
6. The provisions of this Assignment shall be binding upon and shall inure to the
benefit of Assignor and Assignee and their respective heirs, executors, administrators, successors
and assigns.
IN WITNESS WHEREOF, Assignor and Assignee have executed this Absolute
Assignment and Assumption of Mortgage and Loan Documents as of the date first set forth
above.
"Assignor"
Wells Fargo Bank, National Association
By: ow
Name: David Canales
Title: Vice President
By:
Name:
Title: Presiden
"Assignee"
HICKMAN LAND CORPORATION
an
000'733
STATE OF TEXAS
COUNTY OF BEXAR
On `Q' /10/
said State, personally appeared David Canales, personally known to me (or proved to me on
the basis of satisfactory evidence) to be a Vice President Wells Fargo Bank, National
Association., a national banking association, and that he /she as such Vice President being
authorized to do so, executed the foregoing instrument for the purposes therein contained by
signing the name of the corporation by himself/herself as Vice President and did
acknowledge the foregoing instrument to be the act and deed of said association..
WITNESS my hand and official seal.
STATE OF UTAH
COUNTY OF CACHE
On September 29, 2010, before me, the undersigned officer, a Notary Public in and for said
State, personally appeared James S. Hickman, personally known to me (or proved to me on
the basis of satisfactory evidence) to be the President of Hickman Land Title Company, and
that he /she as such President, being authorized to do so, executed the foregoing instrument
for the purposes therein contained by signing the name of the corporation by himself/herself
as Pesident and did acknowledge the foregoing instrument to be the act and deed of said
association.
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of IA* Notw p"
h
MARILYN .1. ADAMS
Commiotion /5�e1�7�5
I My Commission E*SS
1 r o March f9.2014 4
„f State of'Utah' J
L
2010 before me, the undersigned officer, a Notary Public in and for
JOANNA G. MARTtNEZ
MY COMMISSION EXPIRES
November 30, 2011
000734
a
Nota 'ublic
My c o ission pires:
Nota P ,lic
My con nission Expires: 3//7/2611/
SCHEDULE "1"
DESCRIPTION OF AND PRINCIPAL BALANCE OF LOANS
AS OF SEPTEMBER 29, 2010
600735
Whipple Development Corporation, A South Carolina Corporation Obligor /Obligation
#9643736606 -42 Contractual balance as of September 29, 2010 was $57,318.79
1. Promissory Note amount $122,500.00 dated October 26, 1999;
2. Change in Terms Agreement dated October 26, 2005;
3. Commercial Guaranty dated October 26, 2005 executed by Edward L. Terry
4. Mortgage dated October 26, 1999, recorded November 1, 1999, in Lincoln County,
Wyoming, under Document No. 862317;
(See Exhibit "A" for Description of Property)
Exhibit "A
Beginning at the SE corner of Lot 28 of Alpine Retreat Subdivision
No. 2 a.part of the east 1/2 SE 1/4 Section 9, T.36 N,, R. 119 W,,
Sixth Principal Meridian, WY and running thence northwesterly along
a 645 ft. radius curve to the right a distance of 31.84 ft.; thence
N 75 00' 50 ft.; thence N 12 00' W 80 ft.; thence N 76 E 244
ft.; thence S 12 00' E 80 ft.; thence S 23 24' E 250 ft.; thence
N 87 30' E 203.27 ft.; thence northeasterly along a 210 ft.
radius curve to the right 97.67 ft. along a 60 ft. road right -of--
way line; thence N 54 44' 41" W 210.'62 ft.; thence N 37 27' E
186 ft.; thence S 52 33' E 195 ft.; thence S 07 00' 73.28 ft.
to 'a 60 ft. wide access road right --of -way line; thence at along
the north right-of-way line of an existing county road 140+ ft. to
a point 50 ft. east from the east bank of the Salt River; thence
southerly 1320± ft. along a line parallel to and 50 ft. east from
the east bank meander line of said river; thence west 1320+ ft.;
thence north 970± ft,, to the point of begin.ning excluding the
following described property:
(Beginning at a point which lies west 995.02 ft. and South
438.00 ft. more or less from the East 1/4 Corner Section 9, T,
36N., R. 119 W. Sixth Principal Meridian, Wyoming, said point
being on the west Right-of -way of Kibbe Parkway, and running
thence southerly along a 210.00 ft. radius.curve to the left a
distance of 125.01 ft.; thence S 25' 30'00" E 96.42 ft.; thence.
West 262.68 ft.; thence North 200,00 ft; thence N 87 30'00" E
203.27 ft. to the paint of beginning encompassing an area of 1.04
acres more or.less
Containing a net area of 28.55 acres more or less, and
excluding therefrom that one curtain lot conveyed to Rex Robinson
on Nov. 13, 1973, recorded Jan. 21, 1974 PR 108, Page 594, Lincoln
County Wyo. records resulting in a Net area of 2B acres more or
less.
ALSO EXCEPTING THE FOLLOWING LEGAL DESCRIPTION!'
000736
A part of Section 9 T3bN g1,19W, 5th Principal
i1cr .di.an Wyoming,.. Beginning at a point an the
west r .g »way Liras of Kibb.8 Parkway which paint
lies South 1275,69 ft, and We d49.03 ft, from the
g1 /4 Corner of said Bastian 9 and running thence
west 415.05 ft, to a paint on a c urve an 3d
thenta along said curve northerly and to the left
on 4 radius of 225,00 ft, a diateac9 of 196,48 ft,i.
.theme W51 °QU t DQ" 11. 246,97 ft,1 thence 839'00
74,23 ft,; thence aan a 225 ft,. radius curve to the
oaatword and to the left a distance of 194,39 ft,i
thence 889Q30'00 15 ft,1 thence southward an a
2.5 ft, radius carve to the right a d#.atance of 39,27
.ft.r thanes 001 °34 "W 176,54 ft, to the paint of
beginning,