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HomeMy WebLinkAbout963735123436 AIlianc.p Titip F rfy,. PO Box 1367 V WARRANTY DEED IN LIEU OF FORECLOSURE KNOW ALL MEN BY THESE PRESENTS, that this WARRANTY DEED IN LIEU OF FORECLOSURE is made as of this r trm day of 1(R: 6, 2012, by and between Jamie S. Fauver, "Grantor whose present mailing address 7 Buckingham Place, Powell, WY 82435 -3167, and the Beneficial Wyoming, Inc (the "Grantee whose mailing address is 961 Weigel Drive, Elmhurst, IL 60126. WITNESSETH: GRANTOR, for and in consideration of the sum of $10.00 and other good and valuable consideration, to Grantor 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 Grantor from any further liability for payment of the indebtedness outstanding and unpaid by Grantor pursuant to that certain Promissory Note dated as of September 1, 2006, in the original principal amount of $339,580.31, executed and delivered by Grantor to Grantee, by these presents, do hereby GRANT, BARGAIN, CONVEY, and WARRANT unto Grantee all of her right, title, equity (including her 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: Lot 143 of Nordic Ranches Division No. 10, Lincoln County, Wyoming, according to the recorded plate thereof. with an address of 1028 Lariat Dr., Etna, WY 83118 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 Grantor do hereby bind herself and her 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 Grantor in the Property, including specifically, but without limitation, any equity of redemption and the statutory right of redemption of Grantor therein or thereto. Grantee has forgiven and fully released Grantor from any and all debt, obligation, cost and charges existing under and by virtue of the promissory note dated September 1, 2006; B. The lien "Lien for which this Deed is given in lieu of foreclosure was created by that certain Mortgage dated as of September 1, 2006, executed and granted by Daniel L. Fauver and Jamie S. Fauver, as mortgagors, DILPkg RECEIVED 3/19/2012 at 4:10 PM RECEIVING 963735 BOOK: 783 PAGE: 343 JEANNE '^IAr'NER LINCOLN COUNTY CLL..rxr., KEMMERER, WY DIL Package Fauver 11 -17102 Page 1 of 3 00343 to Beneficial Wyoming, Inc., 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 September 8, 2006, at Reception No. 922267 in Book 633 at Page 167. C. Said property has been transferred to Jamie S. Fauver pursuant to the Affidavit of Survivorship Real Property 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 August 8, 2008 at Reception No. 941107 in Book 701 at Page 803. Jamie S. Fauver, herein after will be known as Grantor. D. Grantor agrees 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 Grantor 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 Grantor agrees 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 Grantor 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 Mortgage, 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 Grantor 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 GRANTOR: Jamie S. Fauver By: Jamie S. Fauver DIL Package Fauver 11-17102 Page 2of3 00344 STATE OF L ovv-\', COUNTY OF PP._> ACKNOWLEDGMENT SS. The foregoing instrument was acknowledged before me by Jamie S. Fauver this day of N\ e_ 2012. Witness my hand and official seal. My Commission Expires: DILPkg Notary Public Title (and Ra DIL Package Fauver 11 -17102 Page 3 of 3 00345