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HomeMy WebLinkAbout966734RECORDATION REQUESTED BY: ZIONS FIRST NATIONAL BANK IDAHO FALLS DOWNTOWN OFFICE 1235 S UTAH AVENUE IDAHO FALLS, ID 83402 WHEN RECORDED MAIL TO: Zions First National Bank Loan Servicing Group UT RDWG 0187 2460 South 3270 West West Valley City, UT 84119 HAZARDOUS SUBSTANCES CERTIFICATE AND INDEMNITY AGREEMENT THIS HAZARDOUS SUBSTANCES AGREEMENT dated September 10, 2012, is made and executed among BROULIM OSWALD, LLC, whose address is 182 NORTH STATE STREET, RIGBY, ID 83442 -1444 (sometimes referred to below as "Borrower" and sometimes as "Indemnitor and ZIONS FIRST NATIONAL BANK, IDAHO FALLS DOWNTOWN OFFICE, 1235 S UTAH AVENUE, IDAHO FALLS, ID 83402 (referred to below as "Lender For good and valuable consideration and to induce Lender to make a loan to, and enter into an interest rate swap transaction with, Borrower, each party executing this Agreement hereby represents and agrees with Lender as follows: PROPERTY DESCRIPTION. The word "Property" as used in this Agreement means the following Real Property located in LINCOLN County, State of Wyoming: See Exhibit "A which is attached to this Agreement and made a part of this Agreement as if fully set forth herein. The Real Property or its address is commonly known as PARCEL 1: 100 GREYS RIVER ROAD, ALPINE, WY 83128; PARCEL 2 3: 141 N. WASHINGTON STREET, AFTON, WY 83110. The Real Property tax identification number is PARCEL 1: 37182930401400; PARCEL 2: 32183020100800; PARCEL 3: 32183020109800. REPRESENTATIONS. The following representations are made to Lender, subject to disclosures made and accepted by Lender in writing: Use of Property. After due inquiry and investigation, Indemnitor has no knowledge, or reason to believe, that there has been any use, generation, manufacture, storage, treatment, refinement, transportation, disposal, release, or threatened release of any Hazardous Substances by any person on, under, or about the Property. Hazardous Substances. After due inquiry and investigation, Indemnitor has no knowledge, or reason to believe, that the Property, whenever and whether owned by previous Occupants, has ever contained asbestos, PCBs, lead paints or other Hazardous Substances, whether used in construction or stored on the Property. No Notices. Indemnitor has received no summons, citation, directive, letter or other communication, written or oral, from any agency or department of any county or state or the U.S. Government conceming any intentional or unintentional action or omission on, under, or about the Property which has resulted in the releasing, spilling, leaking, pumping, pouring, emitting, emptying or dumping of Hazardous Substances into any waters, ambient air or onto any lands or where damage may have resulted to the lands, waters, fish, shellfish, wildlife, biota, air or other natural resources. AFFIRMATIVE COVENANTS. Indemnitor covenants with Lender as follows: Use of Property. Indemnitor will not use and does not intend to use the Property to generate, manufacture, refine, transport, treat, store, handle or dispose of any Hazardous Substances, PCBs, lead paint or asbestos. Compliance with Environmental Laws. Indemnitor shall cause the Property and the operations conducted on it to comply with any and all Environmental Laws and orders of any govemmental authorities having jurisdiction under any Environmental Laws and shall obtain, keep in effect and comply with all governmental permits and authorizations required by Environmental Laws with respect to such Property or operations. Indemnitor shall furnish Lender with copies of all such permits and authorizations and any amendments or renewals of them and shall notify Lender of any expiration or revocation of such permits or authorizations. Preventive, Investigatory and Remedial Action. Indemnitor shall exercise extreme care in handling Hazardous Substances if Indemnitor uses or encounters any. Indemnitor, at Indemnitor's expense, shall undertake any and all preventive, investigatory or remedial action (including emergency response, removal, containment and other remedial action) (a) required by any applicable Environmental Laws or orders by any governmental authority having jurisdiction under Environmental Laws, or (b) necessary to prevent or minimize property damage (including damage to Occupant's SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY 000000000000009001046009102012* 1 0069 RECEIVED 9/11/2012 at 11:42 AM RECEIVING 966734 BOOK: 793 PAGE:: 694 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY 2 5 own property), personal injury or damage to the environment, or the threat of any such damage or injury, by releases of or exposure to Hazardous Substances in connection with the Property or operations of any Occupant on the Property. In the event lndemnitor fails to perform any of Indemnitor's obligations under this section of the Agreement, Lender may (but shall not be required to) perform such obligations at Indemnitor's expense. All such costs and expenses incurred by Lender under this section and otherwise under this Agreement shall be reimbursed by Indemnitor to Lender upon demand with interest at the Note default rate, or in the absence of a default rate, at the Note interest rate. Lender and Indemnitor intend that Lender shall have full recourse to Indemnitor for any sum at any time due to Lender under this Agreement. In performing any such obligations of Indemnitor, Lender shall at all times be deemed to be the agent of lndemnitor and shall not by reason of such performance be deemed to be assuming any responsibility of Indemnitor under any Environmental Law or to any third party. Indemnitor hereby irrevocably appoints Lender as Indemnitor's attorney -in -fact with full power to perform such of Indemnitor's obligations under this section of the Agreement as Lender deems necessary and appropriate. Notices. Indemnitor shall immediately notify Lender upon becoming aware of any of the following: (1) Any spill, release or disposal of a Hazardous Substance on any of the Property, or in connection with any of its operations if such spill, release or disposal must be reported to any governmental authority under applicable Environmental Laws. (2) Any contamination, or imminent threat of contamination, of the Property by Hazardous Substances, or any violation of Environmental Laws in connection with the Property or the operations conducted on the Property. (3) Any order, notice of violation, fine or penalty or other similar action by any governmental authority relating to Hazardous Substances or Environmental Laws and the Property or the operations conducted on the Property. (4) Any judicial or administrative investigation or proceeding relating to Hazardous Substances or Environmental Laws and to the Property or the operations conducted on the Property. (5) Any matters relating to Hazardous Substances or Environmental Laws that would give a reasonably prudent Lender cause to be concerned that the value of Lender's security interest in the Property may be reduced or threatened or that may impair, or threaten to impair, Indemnitor's ability to perform any of its obligations under this Agreement when such performance is due. Access to Records. Indemnitor shall deliver to Lender, at Lender's request, copies of any and all documents in Indemnitor's possession or to which it has access relating to Hazardous Substances or Environmental Laws and the Property and the operations conducted on the Property, including without limitation results of laboratory analyses, site assessments or studies, environmental audit reports and other consultants' studies and reports. Inspections. Lender reserves the right to inspect and investigate the Property and operations on it at any time and from time to time, and Indemnitor shall cooperate fully with Lender in such inspection and investigations. If Lender at any time has reason to believe that lndemnitor or any Occupants of the Property are not complying with all applicable Environmental Laws or with the requirements of this Agreement or that a material spill, release or disposal of Hazardous Substances has occurred on or under the Property, Lender may require lndemnitor to furnish Lender at Indemnitor's expense an environmental audit or a site assessment with respect to the matters of concern to Lender. Such audit or assessment shall be performed by a qualified consultant approved by Lender. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create any responsibility or liability on the part of Lender to any lndemnitor or to any other person. INDEMNITOR'S WAIVER AND INDEMNIFICATION. lndemnitor hereby agrees to and shall indemnify, defend, and hold harmless Lender and Lender's officers, directors, employees and agents, and Lender's successors and assigns and their officers, directors, employees and agents from and against any and all claims, demands, losses, liabilities, costs, fines, penalties and expenses (including without limitation attorneys' fees at trial and on any appeal or petition for review, consultants' fees, remedial action costs, natural resource damages and diminution in value) incurred by such person (a) arising out of or relating to any investigatory or remedial action involving the Property, the operations conducted on the Property, or any other operations of Indemnitor or any Occupant and required by Environmental Laws or by orders of any governmental authority having jurisdiction under any Environmental Laws, including without limitation any natural resource damages, or (b) arising out of or related to any noncompliance with or violation of Environmental Laws or any applicable permits or approvals, or (c) on account of injury to Lender or any person whatsoever or damage to any property arising out of, in connection with, or in any way relating to (i) the breach of any covenant, representation or warranty contained in this Agreement, (ii) the violation of any Environmental Laws, permits, authorizations or approvals, (iii) the use, treatment, storage, generation, manufacture, transport, release, spill, disposal or other handling of Hazardous Substances on the Property, or (iv) the contamination of any of the Property by, or the presence, release or threatened release of, Hazardous Substances by any means whatsoever (explicitly including without limitation any presently existing contamination of the Property, whether or not previously disclosed to Lender), or (d) pursuant to this Agreement. Indemnitor's obligations under this section shall survive the termination of this Agreement and as set forth below in the Survival section. In addition to this indemnity, Indemnitor hereby releases and waives all present and future claims against Lender for indemnity or contribution in the event Indemnitor becomes liable for cleanup or other costs under any Environmental Laws. PAYMENT: FULL RECOURSE TO INDEMNITOR. Indemnitor intends that Lender shall have full recourse to lndemnitor for lndemnitor's obligations under this Agreement as they become due to Lender. Such liabilities, losses, claims, damages and expenses shall be reimbursable to Lender as Lender's obligations to make payments with respect thereto are incurred, without any requirement of waiting for the ultimate outcome of any litigation, claim or other proceeding, and lndemnitor shall pay such liability, losses, claims, damages and expenses to Lender as so incurred within thirty (30) days after written notice from Lender. Lender's notice shall contain a brief itemization of the amounts incurred to the date of such notice. In addition to any remedy available for failure to pay periodically such amounts, such amounts shall thereafter bear interest at the Note default rate, or in the absence of a default rate, at the Note interest rate. SURVIVAL. The covenants contained in this Agreement shall survive (A) the repayment of the Indebtedness, (B) any foreclosure, whether judicial or nonjudicial, of the Property, and (C) any delivery of a deed in lieu of foreclosure to Lender or any successor of Lender. The covenants contained in this Agreement shall be for the benefit of Lender and any successor to Lender, as holder of any security interest in the Property or the indebtedness secured thereby, or as owner of the Property following foreclosure or the delivery of a deed in lieu of foreclosure. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement: Amendments. This Agreement, together with any Related Documents, constitutes the entire understanding and agreement of the parties as to the matters set forth in this Agreement. No alteration of or amendment to this Agreement shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Agreement, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post judgment collection services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees and title insurance, to the extent permitted by applicable law. Indemnitor also will pay any court costs, in addition to all other sums provided by law. Caption Headings. Caption headings in this Agreement are for convenience purposes only and are not to be used to interpret or define the provisions of this Agreement. Governing Law. With respect to procedural matters related to the perfection and enforcement of Lender's rights against the Property, this Agreement will be governed by federal law applicable to Lender and to the extent not preempted by federal law, the laws of the State of Wyoming. In all other respects, this Agreement will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the laws of the State of Idaho without regard to its conflicts of law provisions. However, if there ever is a question about whether any provision of this Agreement is valid or enforceable, the provision that is questioned will be governed by whichever state or federal law would find the provision to be valid and enforceable. The loan transaction that is evidenced by the Note and this Agreement has been applied for, considered, approved and made, and all necessary loan documents have been accepted by Lender in the State of Idaho. Choice of Venue. If there is a lawsuit, Indemnitor agrees upon Lender's request to submit to the jurisdiction of the courts of ADA County, State of Idaho. Joint and Several Liability. All obligations of Indemnitor under this Agreement shall be joint and several, and all references to Indemnitor shall mean each and every Indemnitor. This means that each Indemnitor signing below is responsible for all obligations in this Agreement. No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Agreement unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Agreement shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Agreement. No prior waiver by Lender, nor any course of dealing between Lender and Indemnitor, shall constitute a waiver of any of Lender's rights or of any of Indemnitor's obligations as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Indemnitor hereby waives notice of acceptance of this Agreement by Lender. Notices. Any notice required to be given under this Agreement shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Agreement. Any party may change its address for notices under this Agreement by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Indemnitor agrees to keep Lender informed at all times of Indemnitor's current address. Unless otherwise provided or required by law, if there is more than one Indemnitor, any notice given by Lender to any Indemnitor is deemed to be notice given to all Indemnitors. Severability. If a court of competent jurisdiction finds any provision of this Agreement to be illegal, invalid, or unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be considered deleted from this Agreement. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provision of this Agreement shall not affect the legality, validity or enforceability of any other provision of this Agreement. Successors and Assigns. Subject to any limitations stated in this Agreement on transfer of Indemnitor's interest, this Agreement shall be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Indemnitor, Lender, without notice to Indemnitor, may deal with Indemnitor's successors with reference to this Agreement and the Indebtedness by way of forbearance or extension without releasing Indemnitor from the obligations of this Agreement or liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performance of this Agreement. DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Agreement. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terms not otherwise defined in this Agreement shall have the meanings attributed to such terms in the Uniform Commercial Code: Agreement. The word "Agreement" means this Hazardous Substances Agreement, as this Hazardous Substances Agreement may be amended or modified from time to time, together with all exhibits and schedules attached to this Hazardous Substances Agreement from time to time. Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. "CERCLA the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No. 99 -499 "SARA the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto. Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when improperly used, treated, 3 4 U J f stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as defined by or listed under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum and petroleum by- products or any fraction thereof and asbestos. Indebtedness. The word "Indebtedness" means and includes without limitation (i) all principal, interest, and other amounts, costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Indemnitor's obligations or expenses incurred by Lender to enforce Indemnitor's obligations under this Agreement, together with interest on such amounts as provided in this Agreement, (ii) any and all obligations of Borrower to Lender arising under or in connection with any transaction now existing or hereafter entered into between Borrower and Lender which is a rate swap, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction, forward transaction, currency swap transaction, cross currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of these transactions) or any combination thereof, whether linked to one or more interest rates, foreign currencies, commodity prices, equity prices or other financial measures, including without limitation the interest rate swap transaction under that certain ISDA Master Agreement and Schedule thereto between Borrower and Lender, both dated as of September 5, 2012, and the Confirmation (as such term is defined in such ISDA Master Agreement) between Borrower and Lender executed in connection with an interest rate derivative transaction in the notional amount of $2,137,500.00; and (iii) any and all other loans, debts, liabilities and obligations of Borrower and /or Indemnitor to Lender, or any one or more of them, as well as all claims of Lender against Borrower and /or Indemnitor, or any one or more of them, whether now or hereafter existing, voluntary or involuntary, due or to become due, absolute or contingent, liquidated or unliquidated, whether Borrower and /or Indemnitor may be liable individually or jointly with others, whether Borrower and /or Indemnitor may be obligated as guarantor, surety, or otherwise, whether recovery upon such indebtedness may become barred by any statute of limitations, and whether such indebtedness may be or hereafter become otherwise unenforceable. Lender. The word "Lender" means ZIONS FIRST NATIONAL BANK, its successors and assigns. Note. The word "Note" means the Note executed by BROULIM OSWALD, LLC in the principal amount of $2,137,500.00 dated September 10, 2012, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the note or credit agreement. Occupant. The word "Occupant" means individually and collectively all persons or entities occupying or utilizing the Property, whether as owner, tenant, operator or other occupant. Property. The word "Property" means all of Indemnitor's right, title and interest in and to all the Property as described in the "Property Description" section of this Agreement. Real Property. The words "Real Property" mean the real property, interests and rights, as further described in this Agreement. Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, interest rate swap transaction agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness. EACH PARTY TO THIS AGREEMENT ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS AGREEMENT, AND EACH AGREES TO ITS TERMS. NO FORMAL ACCEPTANCE BY LENDER IS NECESSARY TO MAKE THIS AGREEMENT EFFECTIVE. THIS AGREEMENT IS DATED SEPTEMBER 10, 2012. BORROWER: LENDER: ZIONS F X Authorized Sign ALD, e� .er of BROULIM OSWALD, State of f l 4./60 4./60 County of t_I A 1L L This instrument was acknowledged before me ones Lb D) ems-- (date) by CYRI M. OSWALD, Member of BROULIM OSWALD, LLC and ROBERT W. BROULIM, Member of BROULIM OSWALD, LLC. State of CLI County of Li fr`i t This instrument was acknowledged before me on Aaer 1btatj.a,- (date) by 0.-4:12Ic I-LN.LI( 2D By: LENDER ACKNOWLEDGMENT ldr yv 9 ROBERT i BROULIM, Member of BROULIM OSWALD, LLC LIMITED LIABILITY COMPANY ACKNOWLEDGMENT (Notari Signature) My commission expires: lq, XII 4 ►`j) (No rial Signature) My commission expires: im a Dci T LASER PRO Lending, Ver. 5.59.00.003 Copr. Harland Financial Solutions, Inc. 1997, 2012. All Rights Reserved. 1NY /ID C:\COMML\CFRLPL\G210.FC TR- 135936 PR -ZSCL (M) EXHIBIT "A" Parcel 1 Lot 716 of Lakeview Estates 11 Addition to the Town of Alpine, Lincoln County, Wyoming as described on the official plat thereof, filed November 9, 2005, Instrument No. 913565 in the records of the Lincoln County Clerk And also: Parcel 2 Part of Section 30, Township 32 North Range 118 West of the 6 P.M., Wyoming being more particularly described as follows: BEGINNING at a point on the East R.O.W. of U.S. 89 Highway, 50 feet feet South of the Northwest corner of said Section 30 and running thence East 110.0 feet; thence South 110.0 feet; thence West 110.0 feet; thence North 110.0 feet to the POINT OF BEGINNING Lincoln County, East and 653.0 And also: Parcel 3 A part of the Northwest quarter of Section 30, Township 32 North, Range 118 West, 6 Principal Meridian, U.S. Survey, in Afton, Lincoln County, Wyoming: Beginning at a point on the West Line of Tract C of the Hale Estate being 50 feet East (50.80 feet South 89 °28' East along the Section Line) to a point on the East Line of U.S. Highway 89; 363.00 feet South (South 0 °12'52" East) along said East Line of Highway; and 400.00 feet East (399.18 feet South 89 °28'East) from the Northwest Corner of said Section 30; and running thence South 89 °28' East 67.00 feet; thence South 0 °12'06" East 514.11 feet; thence South 89 °26'24" West 255.84 feet along the projection of the South Line of Tract A of said Hale Estate to the Southeast Corner thereof; thence North 0 °11'00" West 123.46 feet along a line common to Tract A and Tract C of said Hale Estate a point on an existing Boundary Line fence monumenting the boundary of said Tract C; thence along said fence and the boundary of Tract C the following two courses: North 89 °2624" East 188.80 feet; and North 0 °12'06" West 391.93 feet to the point of beginning and Part of the Northwest Quarter of Section 30, T32N R118W of the 6 P.M., Lincoln County, Wyoming more particularly described as follows: Exhibit "A" continued 00''00 Beginning at a point on the East line of U.S. Highway 89, being S89 °28'E, 50.80 feet along the Section line (50 feet East record) to a point on said East line of Highway 89 and S0 °12'52 "E (South record) 363,00 feet along said East line from the Northwest corner of said Section 30; and running thence S0 °12'52 "E, 290.00 feet to the North line of the Izatt property, described in Warranty Deed recorded November 22, 1983 in Book 207PR on page 674 of records of Lincoln County Clerk; thence 889 °28'E, 110.00 feet along said North line to the Northeast corner thereof; thence S0 °12'52 "E, 110.00 feet along the East line of said Izatt property to the Southeast corner thereof; thence N89 °28'W, 110.00 feet along said lzatt property to a point on the east line of said U.S. Highway 89; thence S0 °12'52 "E, 123.46 feet along said East line of said Highway; thence N89 °26'24 "E, 466.04 feet along the South line of Tract A, described in Warranty Deed recorded May 20, 1997 in Book 397PR on page 488 of records of Lincoln County Clerk, and said line extended; thence N0 °12'06 "W, 514.11 feet to a point S89 °28'E, from the point of beginning; thence N89 °28'W, 466.18 feet to the point of beginning Less and excepting the following: Part of Section 30, T32N R118W of the 6 P.M., Lincoln County, Wyoming more particularly described as follows: Beginning at a point on the East line of U.S. Highway 89, being 50.80 feet, S89 °28'E, along the Section line (50 feet East record) to a point on said East line of Highway 89 and South S0 °12'52 "E, (South record) 363 feet along said East line from the Northwest corner of said Section 30, and running thence SO °12'52 "E, 210.29 feet along said East of the Highway; thence N89 °38'23 "E, 399.11 feet to a point on the West line of Tract C described in Quitclaim Deed recorded October 2, 1990 in Book 290PR on page 201 of records of Lincoln County Clerk; thence N0 °12'06 "W, 204.06 feet along said West line; thence N89 °28'W, 399.18 feet to the point of beginning