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HomeMy WebLinkAbout967311STATE OF WYOMING SS. COUNTY OF LINCOLN RECEIVED 10/10/2012 at 3:53 PM RECEIVING 967311 BOOK: 796 PAGE: 25 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY ESTOPPEL AFFIDAVIT Estoppel Affidavit Page 1 of 4 00025 Before me, the undersigned authority, personally appeared Laura Faye Jensen, who being first duly sworn deposes and says; 1. She is the party who made, executed, and delivered that certain Warranty Deed dated October 10, 2012 to The Bank of Star Valley, conveying the following described property: SEE ATTACHED EXHIBIT "A" 2. The Warranty Deed was an absolute conveyance of the title to the property to the Grantee named therein in effect as well as in form, and was not intended as a mortgage, trust conveyance, or security agreement of any kind, and possession of the premises has been surrendered to Grantee. 3. Affiant sates and declares that she is responsible for any and all deficiency amounts owed under the Mortgage dated July 6, 2007, recorded in the real property records of the Clerk of Lincoln County, State of Wyoming as document number 931319 in Book 665, Pages 821 -829, and the promissory note of even date. 4. The note and mortgage from Jeff Jensen and Laura Faye Jensen to The Bank of Star Valley shall not be considered to merge with the interest of The Bank of Star Valley acquired under the above referenced deed if it is necessary for The Bank of Star Valley to prosecute foreclosure proceedings to provide clear, marketable, and /or insurable title to The Bank of Star Valley or its assigns, as owner of the above described property. 5. The Deed and conveyance were made by Affiant as a result of her request that Grantee accept the deed and was her free and voluntary act. 6. At the time of execution and delivery of the deed, the mortgage Estoppel Affidavit Page 2 of 4 4 000% indebtedness referred to above was equal to, or in excess of, the fair market value of the property so deeded. 7. The deed was not given as a preference against any other creditors of Affiant. 8. At the time the deed is executed and delivered by Affiant to Grantee, there were no other persons, firms, or corporations, other than Grantee named in the deed, and The Bank of Star Valley, with an interest in the property, either directly or indirectly. 9. Affiant was, and is, solvent and has no other creditors whose rights would be prejudiced by execution and delivery of the deed to Grantee, and /or conveyance of the real property to Grantee. 10. Affiant was, and is, not obligated on any bond or other mortgage by which any lien has been created or exists against the property described in the deed. 11. In executing and delivering the deed to Grantee, Affiant was not subject to or under any duress, undue influence, misapprehension, or misrepresentation by Grantee in the deed, or the agent or attorney or any other representative of Grantee in the deed, and was afforded the opportunity to consult with an attorney of her own choosing. 12. It was the intention of Affiant as Grantor in the deed to convey, by the deed, and Affiant does convey to Grantee, all of her right, title and interest in and to the property described in the deed. 13. Affiant states and declares that the intent of the parties to this agreement is that the doctrine of merger shall not apply. Specifically, but not limited to the underlying promissory note and mortgage in this matter shall not merge with the interest being transferred in the deed in lieu of foreclosure agreement. The Bank of Star Valley's rights in the underlying promissory note and mortgage shall not be modified or extinguished in any manner through the transfer of the Affiant's interest to The Bank of Star Valley. After the deed is executed by the 0002 Affiant, The Bank of Star Valley shall deduct the value of the property as set by a licensed appraiser and deduct that amount from the debt of the Affiant owed to The Bank of Star Valley. The Bank of Star Valley shall then have the right to seek a deficiency judgment against the Affiant for the remaining balance as it would have if the deed had not been transferred. The Affiant understands that The Bank of Star Valley is intending to seek a deficiency judgment in this matter based upon the remaining debt after the value of the property is taken into account and deducted from the balance of the debt. The underlying promissory note and mortgage shall remain in full effect until terminated in writing by The Bank of Star Valley after the closing and they are not modified or extinguished in any manner by this agreement. 14. This affidavit is made for the protection and benefit of Grantee, its successors and assigns, and all other parties hereafter dealing with or who may acquire any interest in the property described in the deed, and it shall bind the respective heirs, executors, administrators, and assigns of the undersigned. DATED this UJ -day of October, 2012 Estoppel Affidavit Page 3 of 4 STATE OF WYOMING ss. COUNTY OF LINCOLN On this /O day of October, 2012, before me a Notary Public in and for said State, personally appeared LAURA FAYE JENSEN, known or identified to me to be the person whose name is subscribed to the within instrument, and after being duly sworn and upon her oath acknowledged to me that she executed the same. My Commission Expires: CDC Estoppel Affidavit Page 4 of 4 00025 NOTARY PUBLIC Order No: 6010715106 LEGAL DESCRIPTION EXHIBIT `A' A portion of the Mavy property as referred to in the Deed recorded in Book 545PR on page 184, with the Office of the Clerk of Lincoln County, Wyoming within the N1 /2SE1 /4 of Section 23, Township 34 North Range 119 West of the 6 P.M., Lincoln County, Wyoming, the metes and bounds being more particularly described as follows: Beginning at a pipe marking the Northeast corner of the said Mavy property, said point of beginning being. 1346.74 feet North 88 °36'10" West, along the North line of the said N1/2SE1/4, from the BLM type monument marking the Lloyd B. Baker PE/LS 698, 1995 location for the Northeast corner of said N1/2SE1 /4 and 195.98 feet South 1 °23'50" West, perpendicular to said North line, to the point of beginning; thence South 01 °40'52" West, 62.36 feet to an iron pipe; thence South 72 °53'18" West, 56.21 feet to an Aluminum cap on iron pipe; thence South 87 °29'15" West, 126.53 feet to an iron pipe marlang point on the easterly line Hokanson Avenue; thence North 5 °57'30" West, along said Easterly line, 88.37 feet to an iron pipe marking the Northwest corner of said Mavy property; thence South 88 °57'26" East, along the North line of said Mavy property, 191.16 feet, to the point of beginning. 0000,