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HomeMy WebLinkAbout961596WARRANTY DEED IN LIEU OF FORECLOSURE WITNESSETH: PART OF LOT 1 OF BLOCK 27 TO THE TOWN OF AFTON, LINCOLN COUNTY, WYOMING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT A POINT WHICH IS THE SOUTHEAST CORNER OF SAID LOT 1 AND RUNNING THENCE NORTH 4 RODS; THENCE WEST 10 RODS; THENCE SOUTH 4 RODS; THENCE EAST 10 RODS TO THE POINT OF BEGINNING. with an address of 544 Madison, Afton, WY 83110 000207 KNOW ALL MEN BY THESE PRESENTS, that this WARRANTY DEED IN LIEU OF FORECLOSURE is made as of this day of 2011, by and between Bryan D. Jensen and Melissa A. Jensen, "Grantors whose present mailing address 3309 Almedia PI, El Paso, TX 79936, and the Bank of America, N.A. (the "Grantee whose mailing address is 400 National Way, SV 35, P.O. Box 10232, Simi Valley, CA 93065 -6298. GRANTORS, for and in consideration of the sum of $10.00 and other good and valuable consideration, to Grantors 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 Grantors from any further liability for payment of the indebtedness outstanding and unpaid by Grantors pursuant to that certain Promissory Note dated as of December 19, 2008, in the original principal amount of $150,000.00, executed and delivered by Grantors to Grantee, by these presents, do hereby GRANT, BARGAIN, CONVEY, and WARRANT unto Grantee all of their right, title, equity (including their 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: 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 Grantors do hereby bind themselves and their 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 Grantors in the Property, including specifically, but without limitation, any equity DILPkg RECEIVED 10/26/2011 at 12:56 PM RECEIVING 961596 BOOK: 775 PAGE: 207 JEANNE WAGNER LINCOLN COUNTY C KEMMERER, WY DIL Package Jensen 11 -06480 Page 1 of 3 000208 of redemption and the statutory right of redemption of Grantors therein or thereto. Grantee has forgiven and fully released Grantors from any and all debt, obligation, cost and charges existing under and by virtue of the promissory note dated December 19, 2008; B. The lien "Lien for which this Deed is given in lieu of foreclosure was created by that certain Mortgage dated as of December 19, 2008, executed and granted by Bryan D. Jensen and Melissa A. Jensen, as grantors, to Mortgage Electronic Registration Systems, Inc., as nominee for 1st Bank, its successors and assigns, 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 December 26, 2008, at Reception No. 944322 in Book 711 at Page 640. C. Said mortgage was assigned to Bank of America, N.A., its successors and assigns by that certain Corporate Assignment of Real Estate Mortgage dated August 20, 2011 and recorded in the records of the County Clerk and ex- officio Register of Deeds in and for Lincoln County, State of Wyoming, on August 29, 2011, at Reception 960754 in Book 771 at Page 793. D. Grantors agree 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 Grantors 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 Grantors agree 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 Grantors 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 E., 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. IN WITNESS WHEREOF, this Warranty Deed in Lieu of Foreclosure has been executed on behalf of Grantors 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. DILPkg DIL Package Jensen 11 -06480 Page 2 of 3 STATE OF 1 E- 5 COUNTY OF fA--s0 DILPkg Witness my hand and official seal. IVAN J. HERNANDEZ Notary Public, State of Texas Commission Expires 02.07 -2012 SS. My Commission Expires: A 0 7 GRANTORS: Bryan D. Jensen and Melissa A. Jensen By: Melissa A. Jen ACKNOWLEDGMENT The foregoing instrument was acknowledged before me Bryan D. Jensen and Melissa A. Jensen this 23 day of ,vl 2011. PcDT 'A Title (and Rank) DIL Package Jensen 11 -06480 Page 3 of 3 000209