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Home My WebLink About964304THIS AGREEMENT, made and entered into May 1, 2012, by and between Julienne E Cooper and Mary Elaine Barnes, hereinafter referred to as Seller; and James Peters and Stephanie Peters, hereinafter referred to as Purchaser. WITNESSETH: Real Estate Purchase Agreement WHEREAS, the Seller is the owner of the parcels of property situate in the County of Lincoln, State of Wyoming, more particularly described as follows: iu292 PARCEL 1: The East one -third (E 1/3) Lots numbered Five (5) and Six (6) in Block numbered Five (5) in the Original Town of Kemmerer, Lincoln County, Wyoming, as surveyed, platted and recorded. Together with all improvements thereon. The middle one -third (M 1/3) of Lots numbered Five (5) and Six (6) in Block numbered Five (5) in the Original town of Kemmerer, Lincoln County, Wyoming, as surveyed, platted and recorded. Together with all improvements thereon. w PARCEL 2: Q w The Westerly one -third (W 1/3) of Lots Numbered Five (5) and Six (6) in the N c iy 2 Block Numbered Five (5) in the original Townsite of the Town of Kemmerer, Lincoln c w z Y County, Wyoming, as surveyed, platted and recorded, together with all improvements et 0 thereon. o co a. w N w 0 TOGETHER WITH all improvements and appurtenances thereon situate or in N 0 Z anywise appertaining thereunto. w w co D U Y 0 SUBJECT, HOWEVER, to all reservations, restrictions, exceptions, easements w In z and rights -of -way of record.0 m p cc z WHEREAS, the Seller desires to sell and the Purchaser desires to purchase the J property for the purchase price on the terms and conditions as set forth herein. NOW, THEREFORE, in consideration of the mutual and reciprocal promises herein set forth, the parties agree as follows: 1. Purchase Price and Terms of Pa meet: the purchase price of the property is 135,000.00 which shall be paid as follows: a. The sum of $15,000 shall be deducted from the purchase price by the Seller for improvements made to the property. b. The balance of the purchase price or 120,000.00 shall be paid by the Purchaser to the Seller in monthly installments of 508.63 each, together with interest, commencing May 1, 2012 and continuing on the same date of each succeeding month until fully paid. The balance shall bear interest at the rate of 2 per annum, payable with and included in the periodic installments. c. Purchaser may prepay or accelerate the payments provided for herein without the prior written consent of the Seller and without penalty. 2. Possession: The Purchaser may take possession of the property on May 1, 2012 3. Taxes, Assessment and Insurance: All taxes, assessments and insurance shall be pro -rated between the Seller and Purchaser for the year 2012, so that the Seller shall be responsible for all such taxes, assessments and insurance levied up to May 1, 2012 and the Purchaser shall pay all subsequent taxes, assessments and insurance in connection with the property herein. During the life of this contract, the Purchaser shall insure and keep insured against fire or other casualties, all improvements now on the property and improvements that may hereafter be built thereon. Such insurance shall be in the face amount of not less than the balance remaining due from time to time under this agreement. All such insurance shall insure the Seller and the Purchaser as their interest may appear. If the Purchaser fails or neglect to pay any installment of taxes, assessments or any insurance premium when due, the Seller shall have the right to make such payment and to add the amount thereof, to the obligations of the Purchaser hereunder. Such right shall be deemed to be an option and shall impose no obligation on the Seller, and the Seller may elect to treat such neglect or failure on the part of the Purchaser as a breach of this contract. 4. Leins: During the term of this contract, the Purchaser shall not allow any liens of any form to attach to the property and premises which may be superior to the rights of the Seller. 5. Waste: During the life of this contract, the Purchaser shall maintain the property including the improvements and personal property in a state of good repair and condition. The Purchaser shall not sell or otherwise dispose of any article of personal property herein described except for necessary replacements. Seller shall have the right to inspect the property at reasonable times, until final performance by the Purchaser. 6. Breach by Purchaser; Remedies of Seller: Time is of the essence of this agreement. In the event Purchaser fails to make any payment required by the terms of this agreement at the time the same falls due and prior to delinquency thereof, including installment payments to the Seller, payment of the taxes, assessments and insurance premiums and if such default continues for thirty (30) days after written notice thereof, Seller, at its option may do either of the following: a. Declare a forfeiture of the Purchaser's rights hereunder and cancel the agreement. On such action, all right, title and interest of the Purchaser shall be retained by Seller as liquidated damages and as rental for the use and occupancy of 93 the property. All improvements and additions shall remain and become the property of the Seller: or b. In lieu of declaring a forfeiture, accelerate and bring an action for the balance of the purchase price remaining due or for any other relief available in law or equity, including suit to recover any payment or payments made by the Seller and be payable by Purchaser hereunder, it being stipulated and agreed that such obligation to repay is a separate and independent covenant of the Purchaser hereunder. No action to recover any payment or payments so made by Seller shall constitute waiver by Seller of his right to proceed otherwise with respect to any subsequent default. No waiver by Seller of any default of Purchase shall be construed as the waiver of any subsequent default. 7. Attorneys Fees: The Purchaser and Seller each agree that should they default in any of the covenants and agreements contained herein, that the defaulting party shall pay all costs and expenses including a reasonable attorneys fee which may arise or accrue from enforcing this agreement or in obtaining possession of the premises covered hereby or in pursuing any remedy provided hereunder or by the statutes of the State of Wyoming whether such remedy is pursued by filing a suit or otherwise. 8. Assignability: The Purchaser shall not assign or transfer any right under this agreement without first obtaining the written consent of the Seller. 9. Notice: All notices to the Purchaser required hereunder shall be deemed to have been properly given when sent by certified or registered mail, postage prepaid to the last known address of the Purchaser. The date of service of notice shall be the date on which the notice is deposited in the United States mail. Personal delivery of such notice shall have the same effect as notice given by mail Addresses to which the notices shall be sent unless another address is previously provided in writing shall be: Julienne Cooper 417 Agate St. Kemmerer, WY 83101 3 James Stephanie Peters 314 Agate St. Kemmerer, WY 83101 00294 10. Entire Agreement: This written agreement is the only and entire contract covering the subject matter herein. No other representations have been made by either the Purchaser or Seller and each has fully read and understood each condition herein contained. No change, alteration, or modification of this agreement shall be valid unless the same shall have been made or specified in writing and signed by all the parties hereto. 11. Binding Effect: This contract and the covenants and agreements hereof shall bind and inure to the benefit of the parties hereto, their respective heirs, personal representatives, successors and assigns. OO29 12. Situs: This agreement shall be construed and governed in all respects by the laws of the State of Wyoming where it is executed. IN WITNESS WHEREOF, the parties have executed this agreement the day and year first above written. Julienne E Cooper i am P. Peters Mary acne Barnes Stepha e Peters THE STATE OF WYOMING SS. COUNTY OF LINCOLN The forgoing instrument was acknowledged before me this day of Apr 2012 by Julienne E. Cooper and Mary Elaine Barnes. WITNESS my hand and official seal. CORINNE ROBERT'S NO"IARy puBt„k COUNTY OF S rATE LINCOLN WYOMING MY COMMISSION EXPIRES C NOTARY PUBLIC My Commission Expires: THE STATE OF WYOMING COUNTY OF LINCOLN CORINNE ROBERTS i4OTA.RY PUBLIC STATE OF WYOMING COUNTY OF LINCOLN My Commission Expires: MY COMMISSION EXPIRES 6 1 3 0 I 3 S S. The forgoing instrument was acknowledged before mt this .day of IV 2012 by James P. Peters and Stephanie Peters WITNESS my hand and official seal. 5 NOTARY PUBLIC 4 0 2 9 6