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HomeMy WebLinkAbout964601138990 s Ilia nce Title Escrow PO Box 1367 i4ernmprer WY 8?1na WARRANTY DEED IN LIEU OF FORECLOSURE WITNESSETH: 00357 KNOW ALL MEN BY THESE PRESENTS, that this_WARRANTY DEED IN LIEU OF FORECLOSURE is made as of this day of VV.; 2012, by and between Jade Butler, "Grantor whose present mailing address PO BOX 9766, JACKSON, WY 83002, and the Federal National Mortgage Association (the "Grantee whose mailing address is 14221 Dallas Parkway, Suite 1000, Dallas, TX 75254. 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 April 1, 2008, in the original principal amount of $228,000.00, executed and delivered by Grantor to Grantee, by these presents, do hereby GRANT, BARGAIN, CONVEY, and WARRANT unto Grantee all of his right, title, equity (including his 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 78 OF STAR VALLEY RANCH PLAT 5, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT FILED ON JUNE 30, 1971 AS INSTRUMENT NO. 431709 OF THE RECORDS OF THE LINCOLN COUNTY CLERK. with an address of 15 Scrub Oak Drive, Star Valley Ranch, WY 83127 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 does hereby bind himself and his 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 April 1, 2008; DILPkg RECEIVED 5/17/2012 at 2:03 PM RECEIVING 964601 BOOK: 786 PAGE: 357 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY DIL Package Butler 12 -04748 Page 1 of 3 B. The lien "Lien for which this Deed is given in lieu of foreclosure was created by that certain Mortgage dated as of April 1, 2008, executed and granted by Jade Butler, as grantor, to Mortgage Electronic Registration Systems, Inc., as nominee for First Horizon Home Loans, a Division of First Tennessee Bank N.A., 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 April 7, 2008, at Reception No. 938060 in Book 691 at Page 362. C. Said mortgage was assigned to Federal National Mortgage Association, its successors and assigns by that certain Assignment of Deed of Trust dated February 29, 2012 and recorded in the records of the County Clerk and ex- officio Register of Deeds in and for Lincoln County, State of Wyoming, on March 9, 2012, at Reception 963588 in Book 782 at Page 636. D. Grantor 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 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 satisfaction and release of 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: Jade Butler By: Jade B DIL Package Butler 12 -04748 Page 2 of 3 00358 STATE OF L ;m COUNTY OF r tNc NCs2v1rl DILPkg he foregoing instrument was acknowledged before me by Jade Butler this day of 2012. Witness my hand and official seal. My Commission Expires: ACKNOWLEDGMENT COLLEEN M. BEARD Notary Public Lincoln County Wyoming My Commission Expires SS. Title (and Rank DIL Package Butler 12 -04748 Page 3 of 3 00359