HomeMy WebLinkAbout961895STATE OF WYOMING
ss.
COUNTY OF CAMPBELL
ACKNOWLEDGEMENT OF RECEIPT OF
NOTICE OF BREACH
ACKNOWLEDGEMENT OF TERMINATION OF
REAL ESTATE PURCHASE AGREEMENT
WAIVER OF RIGHT TO CURE
WAIVER OF RIGHT TO REDEEM
COMES NOW, RICHARD A. WOOD and PAMELA LEE WOOD, Husband and
Wife, being duly sworn on their oath, depose and state as follows:
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1. That on the 20 day of January, 2004, we entered into a Real Estate Sales
Agreement to purchase the parcel of property, described herein, from ALDON L. IIALE
and ELLEN HALE, Trustees of THE JOINT LIVING TRUST OF ALDON L. HALE
AND ELLEN HALE, dated October 1, 1990.
2. The parcel of property is described as follows:
Beginning at a point on the West Right-of-Way of U.S. Highway
89, North 3° 0' West, 2870 feet from the Southeast Corner Section Thirty- c
six (36), Township 32 North, Range 119 West of the 6 P.M., Wyoming, Q tu
ce
and running thence South 1° 0' West, 145 feet; thence North 89° 0' West, w
150 feet; thence North 1° 0' East, 290 feet; thence South 89° 0' East, 150
feet; thence South 1° 0' West, 145 feet to the point of beginning, being a o co w Z Y
tract located in the Southeast quarter of the Northeast quarter (SE1/4 m Q Q ct
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NE1 /4) of said Section 36 and containing 1.0 acres, together with water n a
rights and improvements. 4* Z v
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Beginning at a point which is North 3° 0' West, 2870 feet, thence North p ti D El 89° 0' West, 150 feet from the Southeast corner of Section 36, Town ship V Y 0 0
32 North, Range 119 West, and running thence south 1° 05' East, 145 feet, W
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ACKNOWLEDGEMENT OF RECEIPT OF J
NOTICE OF I3REACII
ACKNOWLEDGEMENT OF TERMINATION OF
REAL ESTATE PURCHASE AGREEMENT
WAIVER OF RIGHT TO CURE
WAIVER OF RIGi -IT TO REDEEM
1
thence North 89° 0' West, 62 feet, thence North 1° 05' West, 290 feet,
thence South 89° 0' East, 62 feet, thence South 1° 05' East, 145 feet to the
point of beginning and containing .413 acres, more or less.
Also known as 838 848 South Washington Street Afton, WY.
3. We agreed to pay the sum of eight hundred fifty thousand dollars
($850,000.00). Fifty thousand dollars ($50,000.00) of said purchase price was allocated
to inventory. The remaining balance was to be paid as follows:
a. The sum of one hundred twenty -five thousand dollars ($125,000.00) was
received as a down payment. One hundred thousand dollars ($100,000.00)
was allocated to the purchase of the real property and fixtures associated
with both locations. The sum of twenty —five thousand dollars
($25,000.00) was allocated to the purchase of the name RED BARON and
RED BARON DRIVE IN, remaining inventory, equipment and goodwill.
b. The balance of the purchase price, or seven hundred twenty —five thousand
dollars ($725,000.00), bore interest at a rate of seven percent (7 per
annum and was to be paid in one hundred fifty (150) payments eleven
thousand six hundred thirty -two dollars ($11,632.00) each, five (5)
payments per year for thirty (30) years. Payments were due on the 10 day
of June, on the 10 day of July, on the 10 day of August, on the 10 day
of September, and on the 10 day of October, starting with the year 2004
ACKNOWLEDGEMENT OF RECEIPT OF
NOTICE OF BREACI
ACKNOWLEDGEMENT OF TERMINATION OF
REAL ESTATE PURCHASE AGREEMENT
WAIVER OF RIGIIT TO CURE
WAIVER OF RIGHT TO REDEEM
2
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and ending on October 10, 2034. Interest began accruing from the 1 day
January, 2004.
4. We have failed to make payments as promised, and /or we have given
notice of our intent not to make further payments under the Agreement
5. Pursuant to Paragraphs 9 and 10 of said Agreement, we, RICHARD A.
WOOD and PAMELA LEE WOOD, husband and Wife, have breached our duties in said
Agreement, and /or we have given notice that we desire to terminate. We hereby declare
the contract as ended, canceled and of no further effect. We hereby acknowledge that the
Sellers have the right to retain all payments that have been made as rental payments and
liquidated damages pursuant to Paragraph 10 of said Agreement.
6. That on the 4 day of November, 2011 we received, via United States
Mail a certified letter, return receipt requested, notification that we were in default of said
Agreement and of the Sellers' intent to pronounce a forfeiture of the property pursuant to
Paragraph 9 and 10 of said Agreement.
7. We hereby waive our right to cure the breach and waive our right to
redeem the property.
8. We hereby grant permission to the Escrow Agent at The Bank of Star
Valley, Afton Wyoming, to release the deeds held in escrow and record any such deeds
which serve to convey our interest in the property, described in Paragraph 2 of this
document, to the Sellers.
ACKNOWLEDGEMENT OF RECEIPT OF
NOTICE OF BREACH
ACKNOWLEDGEMENT OF TERMINATION OF
REAL ESTATE PURCHASE AGREEMENT
WAIVER OF RIGHT TO CURE
WAIVER OF RIGHT TO REDEEM
3
9. We hereby release all claims we have, or may have, to any personal
property located on the premises described above, to any rights or claims to the name
RED BARON and RED BARON DRIVE IN, to all remaining inventory, equipment and
goodwill.
DATED this 9 day of }JoV(Yi 2011.
County of
Campbell
STATE OF WYOMING
ss.
COUNTY OF CAMPBELL
WITNESS my hand and official seal.
APRIL BARLOW NOTARY PUBLIC
NOTARY PUBLIC
Subscribed and sworn to before me by RICHARD A. WOOD and PAMELA LEE
WOOD, Husband and Wife, this 9 day of WoV-ew,10-e.Ir 2011.
State of
Wyoming
MY COMMISSION EXPIRES SEPTEMBER 1, 2014
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RICHARD A. WOOD
Al0
PAMELA LEE W i OD
NO'T'ARY PUBLIC
ACKNOWLEDGEMENT OF RECEIPT OF
NOTICE OF BREACH
ACKNOWLEDGEMENT OF TERMINATION OF
REAL ESTATE PURCHASE AGREEMENT
WAIVER OF RIGHT TO CURE
WAIVER OF RIGIIT TO REDEEM
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