HomeMy WebLinkAbout966802RECEIVED 9/13/2012 at 4:20 PM
RECEIVING 966802
BOOK: 794 PAGE: 51
JEANNE WAGNER
LINCOLN COUNTY CLERK. KEMMFRER. WY
ASSIGNMENT OF REAL ESTATE
PROMISSORY NOTE AND MORTGAGE
THIS ASSIGNMENT is made by Robert S. Tatum, Kathryn K. Tatum, Andrew
000
Hoffmann and Rose Marie Voce (Assignors) to the Robert E. Elkington Family Trust
(Assignee).
WHEREAS, Assignors entered into a Promissory Note and Mortgage on or about June
12, 2009 with Robert Koev and Beatrix Koev (Buyers), as modified in a Modification
Agreement executed on or about May 31, 2011, for the purchase and sale of certain real property
located at Lot 8, Bridger Forest Subdivision, Bedford, WY, 83112, true and complete copies of
which are attached as Exhibit "A and,
WHEREAS, Assignors desire to assign, transfer, sell and convey to Assignee all of
Assignors' right, title and interest in, to and under said Promissory Note and Mortgage as
modified; and,
WHEREAS, Assignee is desirous of receiving all of Assignors' right, title and interest in,
to and under said Promissory Note and Mortgage as modified;
NOW, THEREFORE, in consideration for the sum of $54,383.46 representing principal
of $50,551.68, interest of $1747.08, reimbursement for back taxes paid by Assignors of $834.70
and attorney's fees of $1250.00, the receipt of which is hereby acknowledged, the Assignors do
hereby assign, transfer, sell and convey unto Assignee all of Assignors' right, title and interest in,
to and under said Promissory Note and Mortgage as modified, hereby receives and assumes all of
Assignor's rights, duties and obligations under said Promissory Note and Mortgage as modified.
This Assignment shall be binding upon Assignors and shall inure to the benefit of Assignee and
its successors, heirs and assigns.
Assignment of Real Estate Promissory Note and Mortgage
Lot 8, Strawberry Lane, Bridger Forest Subdivision, Bedford, WY, 83112
Page 1 of 3
The original Promissory Note, Mortgage and Modification Agreement are held by
Alliance Title and Escrow Corp "Alliance Title Assignor shall instruct Alliance Title to close
the escrow account and deliver the original documents to Assignee via Federal Express at 1887
South 700 West, Salt Lake City, Utah, 84104, at no additional cost to Assignee.
DATED this 2i day of
ROBERT S. TATUM
Assignor
KATHR K. TATUM
Assignor
STATE OF UTAH
County of Salt Lake
r
Notary Public
1 c' RU$$EU ►S 1
1 Commluien 061110.4 1
IN Conialsslon EON
1 Wier 1
1. ..i. .1r Utah J
ss.
2012.
ANDREW HOF
Assignor
K4iC: M�La� a e„.
ROSE MARIE VOCE
Assignor
On this day of i 2012 personally appeared before me
Robert S. Tatum, Kathryn K, Tatum, Andr$ Hoffmann and Rose Marie Voce who proved on
the basis of satisfactory evidence to be the persons whose names are subscribed to the foregoing
Assignment of Real Estate Promissory Note and Mortgage, and duly executed the same in my
presence. Witness my brand and official seal.
P.Q
NOTARY PUBLIC
Assignment of Real Estate Promissory Note and Mortgage
Lot 8, Strawberry Lane, Bridger Forest Subdivision, Bedford, WY, 83112
Page 2 of 3
0056
DATED this da of
STATE OF UTAH
County of Salt Lake
ss.
2012.
ROBERT E. ELKINGTON FAMILY TRUST
Assignee;
by:
ROBERT E. ELKING
Trustee
On this --6 -11 day of 0\ 2012 personally appeared before me
Robert E. Elkington, who proved on the basis of satisfactory evidence to be the person whose
name is subscribed to the foregoing Assignment of Real Estate Promissory Note and Mortgage,
and duly executed the same in my presence. Witness my hand and official seal.
KIMBERLY RUTH HUNT
NOTARY PUBLIC STATE OF UTAH
My Comm. Exp. 09/11/2013
Commission 580104
Assignment of Real Estate Promissory Note and Mortgage
Lot 8, Strawberry Lane, Bridger Forest Subdivision, Bedford, WY, 83112
Page 3 of 3
00053
June 12, 2009
N
Lot 8 Strawberry Lane, Bridger Forest Subdivision, Bedford, WY 83112
[Property Address]
1. BORROWER'S PROMISE TO PAY
In retum for a loan that I have received, I promise to pay the principal sum of ONE HUNDRED TEN THOUSAND AND
NO /100 (U.S. $110,000.00), plus interest, to the order of Lender. The Lender is Robert S. Tatum, Kathryn K. Tatum, Andy
Hoffman and Rose Marie Voce. I understand the Lender may transfer this note. The Lender or anyone who takes the note by
transfer and who is entitled to receive payments under this note is called the "Note Holder."
2. INTEREST
Interest will be charged on unpaid principal until the full amount of principal has been paid. I will pay interest at the rate of
NINE percent (9.000 per year.
3. MANNER OF PAYMENT
(A) Time
I will make a payment of principal and interest to Note Holder on the first day of each month beginning on August 1, 2009.
Any principal and interest remaining on July 1, 2010, will be due on that date, which is called the "Maturity Date."
(B) Place
I will make my payments to Alliance Title Escrow, 380 E. Parkcenter Blvd., Ste. 105, Boise, Idaho 83706 or a
different place if required by the Note Holder.
(C) Amount
Each monthly payment of principal and interest will be in the amount of $2, 000.00
4. BORROWER'S RIGHT TO PREPAY
I have the right to make payments of principal at any time before they are due. A payment of principal only is known as a
"prepayment When I make a prepayment, I will tell the Note Holder in writing that I am doing so.
I may make a full prepayment or partial prepayments without paying any prepayment charge. The Note Holder will use all of
nay prepayments to reduce the amount of principal that I owe under this note. If I make a partial prepayment, there will be no changes
in the due date or in the amount of my monthly payments unless the Note Holder agrees in writing to those changes.
5. BORROWER'S FAILURE TO PAY
(A) Late Charge for Overdue Payments
If Note Holder has not received the full amount of any monthly payment by the end of ten calendar days after the payment
is due, I will pay a late charge in the amount of fifteen percent 15.00 of the overdue amount of each payment. I will pay this
late charge promptly but only once on each late payment.
(B) Default
If I do not pay the full amount of each monthly payment on the date it is due, I will be in default. If I am in default, the Note
Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder
may require me to pay immediately the full amount of principal which has not been paid and all the interest that I owe on that
amount. That date must be at least 30 days after the date of which the notice is delivered or mailed to me.
(C) No Waiver by Note Holder
Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as described above,
the Note Holder will still have the right to do so if I am in default at a later time
(D) Payment of Note Holder's Costs and Expenses
If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be
paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by law. Those expenses
include, for example, reasonable attorney's fees.
Initial(s)q), V� ZL Page 1 of 2
(MD Rev.6 /11/2009
4I4iW p /44'
Loan Number:
FHA Multistate Fixed Rate Note HUD Rev. 10/95
Effective 6/96
6. WAIVERS
I and any other person who has obligations under this Note waive the rights of presentment and notice of dishonor. "Presentment"
means the right to require Note Holder to demand payment of amounts due. "Notice of dishonor" means the right to require Note
Holder to give notice to other persons that amounts due have not been paid.
7. GIVING OF NOTICES
Unless applicable law requires a different method, any notice that must be given to me under this Note will be given by delivering
it or by mailing it by first class mail to me at the property address above or at a different address if I give the Note Holder a notice of
my different address.
Any notice that must be given to Note Holder under this Note will be given by first class mail to Note Holder at the address stated in
Paragraph 3(B) or at a different address if I am given a notice of that different address.
8. OBLIGATIONS OF PERSONS UNDER THIS NOTE
If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this
Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also
obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser
of this Note, is also obligated to keep all of the promises made in this Note. Note Holder may enforce its rights under this Note
against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts
owed under this Note.
9. UNIFORM SECURED NOTE
This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note
Holder under this Note, a Mortgage, Deed of Trust, or Security Deed (the "Security Instrument dated the same date as this Note,
protects the Note Holder from possible losses which might result if I do not keep the promises which I make in this Note. That
Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I
owe under this Note. Some of those conditions are described as follows:
If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural
person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require
immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by
Lender if such exercise is prohibited by Applicable Law.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of
not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all
sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender
may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower.
BY SIGNING j f, I accept and agree to the terms rid cove a is contained in this Note.
Fr i_
°T t
Rob Koev Beatrix K
Initials) L Yom,. Page 2 of 2
Rev. 6/11/2009
Loan Number:
FHA Multistate Fixed Rate Note HUD Rev. 10/95
Effective 6/96
6010918052
by
;:ice Title a _tow of 'Wyoming, lie
is a courCesy only
MORTGAGE
:Robert Koev and Beatrix Koev, Husband and Wife, as tenants by the entireties, of
PO Box 1045 Park City, UT 84060, (herein collectively called `MORTGAGOR to
secure the payment of $110,000.00, with interest thereon, as provided in and evidenced
by a promissory note of even date herewith (the ultimate maturity date of which is July 1,
2010) and all renewals, modification and extensions thereof, do hereby mortgage unto
Robert S. Tatum, :Kathryn K. Tatum, Andy Hoffman, and Rose Marie Voce of 198 Q
Street Salt Lake City, UT 84103 (herein called "MORTGAGEE the following
described real property, situate in the County of Lincoln, State of WY, hereby releasing
and waiving all rights under and by virtue of the homestead exemption laws of the State
of Wyoming, to -wit:
Lot 8 of. Amended Plat Bridger Forest Ranches, Lincoln County, Wyoming as described
on the official plat filed on February 6, 1975 as instrument No. 462684 of the records of
the Lincoln County Clerk.
MORTGAGOR agrees to pay the indebtedness hereby secured; to pay all taxes,
assessments and charges levied against the property, as the same become due and
payable; to secure, maintain and furnish MORTGAGEE evidence thereof, insurance with
an insurance carrier or carriers acceptable to MORTGAGEE, covering the insurance
improvements on the Property against loss by fire and earthquakes, with extended
coverage, in an amount not less than the unpaid balance of the debt hereby secured, or the
insurable value (replacement cost) of such improvements, whichever is less, which
insurance shall contain an appropriate loss payable provision protecting MORTGAGOR
and MORTGAGEE as their respective interests may appear from time to time. In the
event MORTGAGOR fails to pay such taxes or assessments, or fails to keep and
maintain such insurance as herein provided, MORTGAGEE may pay such taxes and
assessments and may secure and pay for such insurance, and all sums so paid shall be
added to and considered a part of the indebtedness hereby secured and shall draw interest
at the same rate.
In case default shall be made in the payment of the above sums hereby secured, or in the
payment of the interest thereon, or any part of such principal or interest, when the same
shall become due; or in case of default shall be made in any of the covenants and
agreements thereof, or in the event MORTGAGOR sells or conveys the Property, or any
part thereof, or any interest therein, without the prior written consent of the
MORTGAGEE first had and obtained, then the whole indebtedness hereby secured, with
interest thereon, shall become due and payable, at the option of MORTGAGEE, and
MORTGAGEE'S legal representatives and assigns, may proceed by advertisement and
sale /or as otherwise authorized by governing law, to foreclose on and sell the Property,
and out of the proceeds of such sale, MORTGAGEE shall pay all sums due hereunder,
together with all costs of sale including reasonable attorney's fees. If the proceeds of the
foreclosure sale are insufficient to pay the indebtedness hereby secured and foreclosure
costs, MORTGAGEE shall be entitled to a deficiency judgment.
In the event of any default whereby the right of foreclosure occurs hereunder,
MORTGAGEE shall at once become entitled to exclusive possession, use and enjoyment
of the Property, and to all rents, issues and profits from the accruing of any such rights
and during the pendency of the foreclosure proceedings, and the period of redemption, if
any there be.
MORTGAGOR warrants title to the Property as to parties claiming, by, through or under
the MORTGAGOR only.
Witness our hands this c` day of June, 2009,
—ert Koev
‘Inbyhl
RECEIVED 6/16/2009 at 3:48 PM
RECEIVING 947800
BOOK: 725 PAGE: 553
JEANNE WAGNER
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WHEREAS on June 12, 2009 (date), a promissory note was executed by Robert and
Beatrix Koev (payor) in favor of Robert S. Tatum, Kathryn K. Tatum, Andrew
Hoffmann, and Rose Voce (payee) in the amount of $110,000, plus interest;
AND WHEREAS said note was secured by a mortgage
(type of instrument) recorded on June 16, 2009 (date) as Instrument No. 947800 in the
records of Lincoln County, Wyoming;
AND WHEREAS the undersigned parties now desire to modify the original agreement
effective on June 30, 2011 (effective date);
NOW THEREFORE, the terms of the note are hereby modified as follows:
a)) The period to payoff the promissory note will be extended from June 2011 to June
2014;
b) During the June 2011 payment window, the payors will pay $15,000 toward the
loan principal;
c) Beginning with the July 2011 payment window and extending through the May
2014 payment window, the payors will make monthly payments of $1,884 toward
the loan principal and interest;
d) The payors will complete the property sale during the June 2014 payment window
by paying off any remaining principal, interest, and fees /charges in the account.
All other terms of the original contract or purchase agreement are to remain the same.
Payor(s)
Ps x K
County oi
Lincoln
Itt 6ertiSoev
LISA STOUDT NOTARY ARY P!
MODIFICATION AGREEMENT
Account #6020 -00- 00000159
State of
Wyoming
My Commission Expires August 10, 2014
1
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State of 1 414■ Countyyof 51 f
Subscribed and sworn before me on"' SKAA. 20ll
(D te)
Payee(s)
Andrew
ry Signatur
4A/ r4 4 L 45
Rose Voce
NOTARY PI THLJ(
CHAD R. BULLO(;H
iommis'sio i 177841
my Commission E.:pire
March 2013
S'T' AT E OF 1 .I T A
00056'
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State of 6624/0)-Y
County of fi
This Instrument was acknowledged before me on Q day of June, 2009
By Robert Koev and Beatrix Koev.
(Signature of Notarial Officer)
My Commission Expires:
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GLbRiA K. 13
County of
Lincoln
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