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HomeMy WebLinkAbout958654STATE OF WYOMING COUNTY OF Lincoln :ss. ESTOPPEL AFFIDAVIT 000551 f h This affidavit is made this 7 day of P CII 20 by William A. Trelease and Judith A. Trelease, hereinafter referred to as Grantors, and said Grantors being first duly sworn do depose and say as follows: That Grantors did, on November 26, 2006„ execute and deliver a Promissory note to 1ST Bank, of Alpine, Wyoming, said Note being in the Principal sum of $33,600.00 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 November 30, 2006, in Book 641 of Mortgages, at Page 788, in the office of the County Clerk of Lincoln County, Wyoming and being more particularly described as follows, to wit: Lot 57 of Star Valley Ranch Plat 10, Lincoln County, Wyoming as described on the Official Plat Filed on March 16, 1976 as Instrument No. 476273 of the Records of the Lincoln County Clerk. That the Grantors have defaulted in the payments due on said Note upon which the principal amount of $18,956.05, plus interest is at this time past due and outstanding, Grantors hereby stating that they are unable to meet the obligations of said Note according to the terms thereof. That 1 Bank, of Alpine, Wyoming, is the present legal holder of aforesaid Note and Mortgage and that pursuant to an agreement with the said 1 Bank, of Alpine, Wyoming, the Grantors made, executed and delivered that certain Deed in Lieu of Foreclosure of even date herewith, which conveyed and transferred the above described property to 1 Bank, of Alpine, Wyoming, hereinafter referred to as the Grantee. The Grantors hereby acknowledge, agree and certify that the aforesaid Deed in Lieu of Foreclosure is an absolute conveyance and transfer of the Grantors' 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 Grantors' right of possession, rental and equity of redemption in and to said premises. The Grantors further acknowledge, agree and certify that the value of the Grantors' 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 Grantors 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 20 The Grantors further acknowledge, agree, and certify that said Deed is given voluntarily by the Grantors to 1 Bank, of Alpine, Wyoming, 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 assign to the RECEIVED 3/29/20 at 11: AM RECEIVING 958654 BOOK: 764 PAGE: 551 JEANNE WAG- LINCOLN COUNTY CLERK, KEMMERER. WY' Grantee the right to receive payment of any claim payable under the terms of said insurance policies, including any premium refund now or hereafter 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. d William A. Trelease The State of Wyoming County of Lincoln 1 0 [L :ss. clith A. Trelease The foregoing instrument was acknowledged and sworn to before me by William A. Trelease and Judith A. Trelease, personally known to me this '1f o- s o c�rrc 'g�Y PUMA, STATE OF Witness my hand and official seal. uticoust My commission expires: Notary Public 000552