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HomeMy WebLinkAbout969557RECEIVED 2/19/2013 at 3:34 tam RECEIVII\ 969557 BOOK: 805 PAGE: 4 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY AGREEMENT, QUITCLAIM DEED, AND RELEASE OF MORTGAGE KNOW ALL MEN BY THESE PRESENTS, That David F. Hailing, Individually, and as Manager of Professional Business Holdings, LP, hereinafter collectively referred to as Mortgagor or grantor, of 10421 South Jordan Gateway, Suite 600, South Jordan, UT 84095, and 1ST Bank, a Wyoming state banking corporation, of PO Box 1620, Afton, WY 83110, hereinafter referred to as the Mortgagee or grantee, hereby agree as follows: 1. That the Mortgagor is the owner of the following described real property "the Property located in Lincoln County, State of Wyoming: Lots 114, 115, 116, and 117 of Valli -Vu Golf Villas, an Addition to the Town of Afton, Lincoln County, Wyoming, as described on the official plat filed on October 3, 2007, as Instrument No. 933678 of the records of the Lincoln County Clerk. 1 ,1 0 0 2. That the Mortgagor has mortgaged the Property to the Brandon Bentley as Mortgagee by that certain Mortgage dated September 11, 2007, "the Mortgage securing a Promissory Note "the Note and recorded in the office of the Lincoln County Clerk on September 17, 2007, in Book 672, page 345, Recording Number 933173. Brandon Bentley assigned the Mortgage to Mortgagee herein by that certain Assignment dated July 3, 2008, and recorded in the office of the Lincoln County Clerk on July 11, 2008, in Book 699, page 687, Recording No. 940451. 3. That pursuant to that certain Warranty Deed dated September 11, 2007, and recorded in the office of the Lincoln County Clerk on September 17, 2007, in Book 672, page 342, Recording No. 933171, Med Con, Inc., a Utah corporation, may own or claim to own an interest in the Property. Med Con, Inc., whose president is Joyce L. Hailing, the spouse of David F. Hailing, is a related entity to Mortgagor herein. In consideration of the release from liability by 1ST Bank herein, Med Con, Inc., will join in this agreement and convey to 1ST Bank any and all interest it may have in the Property. Therefore, for purposes of this agreement, the conveyance of the Property to 1ST Bank and the release from liability of David F. Hailing, individually, Professional Business Holdings, LP, Joyce L. Hailing, individually, and Med Con, Inc., by 1ST Bank, the terms Mortgagor and Grantor as used herein shall be deemed to also include Joyce L. Hailing, individually, and Med Con, Inc. 000 4. That Mortgagor and Mortgagee stipulate and agree that Mortgagor is in default in its obligations under the Mortgage because of its failure to pay the principal and interest as required by the Note and Mortgage. Therefore, as of the date hereof, December 17, 2010, the amount due on the Note and Mortgage is principal in the amount of $124,518.00 together with accrued interest thereon and expenses of collection. 5. That the parties agree that it is in their mutual best interests that the Mortgagor convey to the Mortgagee all of its interest in the Property. In consideration thereof the Mortgagee will release the Mortgagor together with all other signers, guarantors, and obligors from all obligations to the Mortgagee under the Note and Mortgage on the express condition that there are no other mortgages, liens, judgments, obligations, or encumbrances against the Property. 6. That in consideration of the release of the Mortgage and other good and valuable consideration, the receipt whereof is hereby confessed and acknowledged, the Mortgagor, as grantor, does hereby voluntarily, by its own free will and choice, remise, release, and forever quitclaim, and by these presents does for its successors and assigns, remise, release, and forever quitclaim, unto 1ST Bank, as grantee, and to its successors and assigns, forever, all such right, title, interest, property, possession, claim, and demand as the grantor has, or ought to have, in and to the Property. Hereby releasing and waiving all rights under and by virtue of the homestead exemption laws of the State of Wyoming, and further releasing all rights of redemption under the Mortgage foreclosure laws of said State. TO HAVE AND TO HOLD the Property unto the said grantee, and to its successors and assigns to its own proper use and behoof forever. So that neither the grantor nor any person in its name or behalf or any person in their name or behalf, shall or will hereafter claim or demand any such right or title to the premises or any part thereof, but they and every one of them shall by these presents be excluded and forever barred. Grantor does hereby specifically waive, surrender, convey, and relinquish any equity of redemption and statutory rights of redemption concerning the premises and mortgages or other documents described above. Grantor hereby surrenders and delivers possession of the premises to grantee. 2 3 Professional Business Holdings, LP Mortgagor and Grantor B Y David F. Hailing, Mana Joyce L. Halling Mortgagor and Grantor Med Con, Inc., a Utah Corporation Mortgagor and Grantor Joyce L. Halling, Pres 7. That Mortgagor represents and warrants that the Property is free and clear of all liens and mortgages other than the Mortgages described herein. 8. That in consideration of the foregoing conveyance and mutual understanding and agreement and on condition that the Property is free and clear of all other liens, mortgages, and encumbrances, and other good and valuable consideration, the receipt whereof is hereby confessed and acknowledged, Mortgagee does hereby certify that the Mortgage is fully satisfied, released, and discharged; and in consideration thereof the said 1ST Bank does hereby release and waive any and all rights to a deficiency judgment thereunder or any other relief pursuant to the Mortgage and the promissory note it secures as to Mortgagor and any and all other makers, co- signers, and guarantors of said Mortgages. IN WITNESS WHEREOF, the parties have executed this Agreement, Quitclaim Deed, and Release of Mortgage as of this 17th day of December, 2010. 7 David F. Halling Mortgagor and Grantor STATE OF UTAH ss. COUNTY OF SALT LAKE This instrument was acknowledged before me on the (A I day of Q 2010, by David F. Hailing. Witness my hand and official seal. �tafiea'•_"k Mfi" xae'. .HiW:.,r`•.4*f4.eU..��t.aWl"4 vJ�,•n'•csv;.d- r'.yaG rr A r i °t DIANN,a, i<A CROP I� Notary Public State of Utah My Gommissicn 8?.pires March 5, 2012 5625 S Var. W r K;e ,v y, SLC UT 84121 My commission expires: STATE OF UTAH ss. COUNTY OF SALT LAKE o .1011e5 .5..„,my.hand.•and.offi6iaJ.seal. DIANNA HOWCROFT Notary Public -"7 State of Utah My Commissicn Expires March 5, 2012 5625 S Van Y. n,.y. SLC UT 84121 My commission expires: Y ())1&\(■ C• 5 1 4 1ST Bank, a Wyoming State Banking Corporation, Mortgagee and Grantee By X -4 Rogf J. oles, Afton Branch President NOTARY PUBLIC 0000 This instrument was acknowledged before me on the a1 day of 20 Q by David F. Hailing as manager of Professional Business Holdings, LP. STATE OF UTAH ss. COUNTY OF SALT LAKE This instrument was acknowledged before me on the c� day of 20 K\ by Joyce L. Hailing. Wfitne ss,rny, hancLand,offa a DIANNIA HOWCROFT Notary Public State of Utah My Comrmsscn Expires March 5, 2012 5625 S Van Winki z'sr ,vv. SLC UT 84121 My commission expires: STATE OF UTAH STATE OF WYOMING COUNTY OF LINCOLN ss. TRISTAN SMITH NOTARY P Us3L COUNTY OF s STATE OF LINCOLN N,_.<�t, WYOMING MY COMMISSION EXPIRES APRIL 22,2013 4 Witness= my-hand<•and is ealw L D ANNA HOWCROFT i 1 PI Notary Public s, �a t r: fi j to of Utah hMy omm .icn c, March 5, 2012 5625 S Van Wink cx :•r,v. SLC UT 84121 Witness my hand and official seal. My commission expires: OlGic‘'` 'O My commission expires: 41 1 r 20)3 5 NOTARY PUBLIC ss. COUNTY OF SALT LAKE This instrument was acknowledged before me on the c--7 day of L(�` 20 16 by Joyce L. Hailing as president of Med Con, Inc. amficu NOTARY PUBLIC NOTARY PUBLIC NOTARY PUBLIC 000 This instrument was acknowledged before me on the 15( day of 'CerA 20 Q by Roger J. Coles as Afton Branch President of 1ST Bank.