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HomeMy WebLinkAbout962296RECEIVED 12/9/2011 at 10:35 AM RECEIVING 962296 BOOK: 777 PAGE: 711 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ESTOPPEL AFFIDAVIT AND STATEMENT OF VOLUNTARY SURRENDER WHEREAS, THIS ESTOPPEL AFFIDAVIT AND STATEMENT OF VOLUNTARY SURRENDER "Estoppel Affidavit is made by James F. Vanderwall, Jr. "Grantor and 00"711 WHEREAS, James F. Vanderwall, Jr., being duly sworn upon his oath deposes and states as follows: 1. On November 20, 2007, Grantor executed and delivered a mortgage (the "Mortgage in favor of Bank of the West, a California Corporation, and said mortgage was assigned to Wyoming Community Development Authority, its successors and assigns, "WCDA originally encumbering the property covered by said Mortgage, which is described as follows: Lot 8 of Block 3 of West Valley Subdivision to the Town of LaBarge, Lincoln County, Wyoming, as described on the official plat thereof. together with all buildings and improvements situate on said real property and all fixtures and appurtenances thereto (collectively the "Property and securing a promissory note "Note of the same date. 2. Said Note was secured by a Mortgage dated November 20, 2007, in the original principal amount of $106,625.00 together with interest and other indebtedness described in the Mortgage, which Mortgage was executed and delivered by Grantor to Bank of the West, a California Corporation. The Mortgage was 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 November 21, 2007, Book 679 at Page 457 as Receiving Number 935094, and said Mortgage was assigned to the WCDA on January 9, 2008. The Assignment was 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 January 21, 2008, in Book 684 at Page 278 as Receiving Number 936361. 3. For good and sufficient consideration, which is the cancellation of all debts, obligations, costs and charges under the Note and secured by the Mortgage, Grantor has, contemporaneously with the execution of this Estoppel Affidavit, made, executed, and delivered to the WCDA, its successors and assigns, a warranty deed in lieu of foreclosure dated as of even date herewith, conveying to the WCDA all of Grantor's right, title, equity, including his equity of redemption, and statutory right of redemption in and to the Property. Grantor hereby acknowledges, agrees, and certifies that the conveyance of the Property to the WCDA under the respective terms of the said warranty deed in lieu of foreclosure constitutes, as a whole, the absolute conveyance and unconditional sale to the WCDA of all of Grantor's right, title, equity, and interest of every kind and character in and to the Property, with a full release of all homestead rights, if any, in and to the Property and also constitutes, as a whole, the conveyance, transfer, and assignment to the WCDA of all of Grantor's rights of possession thereof, rights to rentals and profits therefrom, and equity of redemption and statutory right of redemption in and to the Property. At the time of the making of said warranty deed in lieu of foreclosure affiant believed, and now believes, that the said consideration represents the fair value of the Property. 4. Grantor acknowledges, agrees, certifies and warrants that he has full power and authority to execute and deliver the warranty deed in lieu of foreclosure and this Estoppel Affidavit; that the warranty deed in lieu of foreclosure and this Estoppel Affidavit are valid and legally binding upon Grantor, enforceable against him in accordance with its terms. Grantor further acknowledges, agrees, certifies and warrants that the transaction contemplated by the warranty deed in lieu of foreclosure and this Estoppel Affidavit are of a tangible benefit to him and that the warranty deed in lieu of foreclosure has been given freely and voluntarily by Grantor to the WCDA, in good faith on the part of Grantor, without any coercion or duress. 6. Grantor acknowledges and agrees that WCDA has forgiven and fully released Grantor from any and all debt, obligation, cost and charges existing under and by virtue of the Note and the Mortgage. IN WITNESS WHEREOF, the undersigned has caused this Estoppel Affidavit to be executed and delivered this Z day of tqv GRANTOR: Jages F. Vanderwall, Jr. ACKNOWLEDGMENT AND JURAT 2011. o0712 12 5. Grantor acknowledges and agrees that the warranty deed in lieu of foreclosure is intended and understood to be an absolute conveyance and unconditional sale to the WCDA with full extinguishment of Grantor's equity of redemption and statutory right of redemption, with full release of Grantor's right, title, and interest of every kind and character in and to the Property; that such conveyance was not, and is not now, intended as a mortgage, trust conveyance, deed of trust, or security instrument of any kind; and that the consideration for such conveyance is as recited in this Estoppel Affidavit. 7. Grantor hereby agrees that the acceptance by the WCDA of title to the Property in lieu of foreclosure pursuant to the terms of the warranty deed in lieu of foreclosure shall not create any obligation on the part of the WCDA to third parties who have claims of any kind whatsoever against Grantor with respect to the Property, and the WCDA does not hereby assume or agree to discharge any claims of such third parties or any liabilities of Grantor in any way connected with or pertaining to any of the Property. 8. This Estoppel Affidavit has been made and executed for the protection and benefit of the WCDA, and its successors and assigns, any title insurance company which may hereafter insure title to the Property and all other parties hereafter dealing with or who may acquire an interest in the Property and the warranty deed in lieu of foreclosure and this instrument shall bind the respective legal representatives, successors, and assigns, as applicable, of Grantor. STATE OF A14-4A, S COUNTY OF VtiAcL\- This instrument was signed, sworn to and acknowledged before me on this 2 9 1 1 1 day of �J2 L,L. h.e r Official Seal David Curley „'Notary Public -State of Alaska 'My Comm. Expires 6/12/201 My Commission Expires: 4, ..1 Z .2_0 (3 2011, by James F. Vanderwall, Jr. NOTARY PUBLIC (1 r