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HomeMy WebLinkAbout968994o 0 o u cn M W to CO 0; K c m m c c 0 AGREEMENT, ESTOPPEL AFFIDAVIT, AND STATEMENT OF VOLUNTARY SURRENDER WHEREAS,THIS AGREEMENT, ESTOPPEL AFFIDAVIT, AND STATEMENT OF VOLUNTARY SURRENDER is made and entered into as of this t,1% day of >/7/ 2012 by and between Kelly L. Currier, "Grantor whose present mailing address 9841 Bradford Summit Street, Las Vegas, NV 89183 and the Bank of America, N.A., (the "Grantee whose mailing address is 400 National Way, SV 35, P.O. Box 10232, Simi Valley, CA 93065- 6298. WITNESSETH: 1. On November 12, 2010, Grantor executed and delivered a mortgage (the "Mortgage in favor of the Quicken Loans, Inc., whose underwriter was the Grantee, originally encumbering the property covered by said Mortgage, which is described as follows: LOT 102 OF NORDIC RANCHES DIVISION NO. 7, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT FILED ON MAY 8, 1996 AS INSTRUMENT NO. 819461, PLAT NO. 311E OF THE RECORDS OF LINCOLN COUNTY CLERK. with an address of 1163 Saddle Dr., Etna, WY 83118 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 and securing a promissory note "Note of the same date. 2. Said Note was secured by the Mortgage dated November 12, 2010 in the original principal amount of $275,487.00 which was executed and delivered by Grantor to Mortgage Electronic Registration Systems, Inc. "MERS as nominee for Quicken Loans, Inc. together with interest and other indebtedness described in the Mortgage. The Mortgage was 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 28, 2011, at Reception No. 959096 in Book 766 at Page 50. 3. Said mortgage was assigned to Bank of America, N.A., its successors and assigns by that certain Assignment of Real Estate Mortgage dated November 7, 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 November 15, 2012 at Reception 967986 in Book 798 at Page 300. 4. Grantor is in default in the payment of the principal and accrued interest due on the Note and in certain other matters described in the Note and the Mortgage, and is unable to otherwise meet her obligations in full thereunder. As a result of such default, the Grantee has elected to accelerate and declare the entire unpaid principal balance, accrued but unpaid interest, and other indebtedness due under the Note and the Mortgage immediately due and payable. As of August 15, 2012, the aggregate amount due and owing to the Grantee on the Note and the Mortgage, together with accrued but unpaid interest thereon and protective advances, but not including attorneys' fees and costs of collection, is $273,659.43 (the "Indebtedness RECEIVED 1/11/2013 at 4:50 PM RECEIVING 968994 BOOK: 802 PAGE: 553 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY DIL Package Currier 12 -10108 Page 1 of 3 00553 5. Grantor acknowledges that the Indebtedness of $273,659.43 plus attorneys' fees and costs of collection is due and owing to the Grantee on the Note and the Mortgage; that Grantor has defaulted in the payment of the Note and in certain other matters described in the Note and the Mortgage; and that as a result of such default, the Grantee is, and has been, entitled to foreclose the lien of the Mortgage as to the property. 6. For good and sufficient consideration, Grantor has, contemporaneously with the execution of this Agreement, made, executed, and delivered to the Grantee, its successors and assigns, (a) a deed in lieu of foreclosure dated as of even date herewith, conveying to the Grantee all of Grantor's right, title, equity including their equity of redemption and statutory right of redemption. Grantor hereby acknowledges, agrees and certifies that the conveyance of the property to the Grantee under the respective terms of the Deed in Lieu of Foreclosure constitutes, as a whole, the absolute conveyance and unconditional sale to the Grantee of all of Grantor's right, title, equity, and interest of every kind and character in and to the property, together with any and all buildings and improvements thereon situate and any and all fixtures and appurtenances thereto, with a full release of all homestead rights, if any, in and to the property and also constitutes, as a whole, the conveyance, transfer, and assignment to the Grantee of all of Grantor's rights of possession thereof, rights to rentals and profits therefrom, and equity of redemption and statutory right of redemption in and to the property. 7. Grantor acknowledges, agrees, certifies, and warrants that she has full power and authority to execute and deliver the Deed in Lieu of Foreclosure and this instrument; that the Deed in Lieu of Foreclosure and this instrument are valid and legally binding upon Grantor, enforceable against them in accordance with its terms. Grantor further acknowledges, agrees, certifies and warrant that the transaction contemplated by the Deed in Lieu of Foreclosure and this instrument are of a tangible benefit to them and that the Deed in Lieu of Foreclosure has been given voluntarily by Grantor to the Grantee, in good faith on the part of Grantor and the Grantee, without any fraud. 8. Grantor acknowledges and agrees that the Deed in Lieu of Foreclosure is intended and understood to be an absolute conveyance and unconditional sale to the Grantee with full extinguishment of Grantor's equity of redemption and statutory right of redemption, with full release of Grantor's right, title, and interest of every kind and character in and to the property; that such conveyance was not, and is not now, intended as a mortgage, trust conveyance, deed of trust, or security instrument of any kind; and that the consideration for such conveyance is as recited in this Agreement. 9. Grantor acknowledges and agrees that the Deed in Lieu of Foreclosure shall not restrict the right of the Grantee, at its election, to institute a foreclosure of the lien of the Mortgage as to the property, and that while Grantor has been personally released from any further liability for payment of the Note, the Grantee may retain the lien of the Mortgage as to the property and any and all evidences of the released portion of the Indebtedness secured thereby, and may deem the released portion of the Indebtedness unpaid and in default for the purpose of instituting and perfecting foreclosure of the property pursuant to law as against third parties who may have or claim an adverse interest in or a lien upon any of said Property. The Grantee agrees to release, in whole or in part, the property from the lien of the Mortgage when and as it sells the Property. 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 November 12, 2010. However, nothing contained in this Agreement shall be interpreted or construed to prejudice those contractual rights of Grantor which have vested under this instrument and the Deed in Lieu of Foreclosure. DIL Package Currier 12 -10108 Page 2 of 3 055. 10. Grantor hereby agrees that: (a) Grantor is and shall remain liable for satisfaction of utility bills and charges for water, fuel, oil, heat, electricity, power, sewer, sanitation, and other utilities or services used at the buildings, if any, located on the property through the date of this agreement; and (b) The acceptance by the Grantee of title to the Real Property in lieu of foreclosure pursuant to the terms of the Deed in Lieu of Foreclosure shall not create any obligations on the part of the Grantee to third parties who have claims of any kind whatsoever against Grantor with respect to the Real Property, and the Grantee does not hereby assume or agree to discharge any claims of such third parties or any liabilities of Grantor in any way connected with or pertaining to any of the Real Property. 11. Grantor and the Grantee acknowledge and agree that the interest that has been acquired by the Grantee in the Real Property pursuant to the Deed in Lieu of Foreclosure shall not merge with the interest of the Grantee in such property under the Mortgage. It is the express intention of each of the parties hereto that such interest shall not merge, but shall be and remain at all times separate and distinct, notwithstanding any union of such interest in the Grantee at any time by purchase or otherwise, and that the right, title, interest, and lien of the Grantee in the property created by the Mortgage shall be and remain at all times valid and continuous. Nothing contained in this Agreement shall be interpreted or construed to prejudice those contractual rights of Grantor which shall have vested under this instrument and the Deed in Lieu of Foreclosure. 12. This Agreement has been made and executed for the protection and benefit of the Grantee, and the Grantee's successors and assigns, and all other parties hereafter dealing with or who may acquire an interest in the property which is the subject of the Deed in Lieu of Foreclosure and this instrument; and the Deed in Lieu of Foreclosure and this instrument shall bind the respective legal representatives, successors, and assigns, as applicable, of Grantors. IN WITNESS WHEREOF, the undersigned have caused this Agreement, Estoppel Affidavit, and Statement of Voluntary Surrender to be executed and delivered as of the day and year first above written. STATE OF ,e\J(A& COUNTY OF C�, \c .c% SS. The foregoing instrument was acknowledged before me by Kelly L. Currier this 5 day of Oec 2012 ACKNOWLEDGMENT Witness m hand and official seal. AMY M. DUTCHER ifY NOTARY PUBLIC STATE OF NEVADA .J APPT. No. 06- 108875 -1 MY APPT. EXPIRES OCT. 27, 2014 No My Commission Expires: Qc �7 ,Dc)) GRANTOR: Kelly L. Currier By: Kelly L. 'turd ry zc,"11.72)? DIL Package Currier 12 -10108 Page 3 of 3 0055 a