HomeMy WebLinkAbout969772AGREEMENT FOR DEED IN LIEU OF FORECLOSURE
WITNESSETH
THIS AGREEMENT entered into this 7/ day of -T'ii? V 1 2013, between
TYLER HANSEN and JAYMIE HANSEN, Husband and Wife, and THEJ3ANK OF STAR
VALLEY, INC.
WHEREAS, TYLER HANSEN and JAYMIE HANSEN are currently indebted to THE
BANK OF STAR VALLEY, INC. pursuant to a Promissory Note dated January 4, 2007, and
Extension Agreement to the Promissory Note dated December 23, 2009, including interest and
other miscellaneous expenses, including but not limited to reasonable attorney's fees and legal
expenses with said interest continuing to accrue; and
WHEREAS, the indebtedness referred to is secured by a mortgage to real property
located in Lincoln County, Wyoming, said mortgage dated January 4, 2007, and recorded
January 8, 2007, with the Clerk of Lincoln County, Wyoming, in Book 645 PR, Page 637; and
WHEREAS, the referenced Mortgage secured the above described Promissory Note; and
WHEREAS, borrower is in default under the terms of the aforementioned Promissory
Note and Mortgage; and
WHEREAS, the parties hereto desire to avoid the further time, expense, and attorneys
fees associated with foreclosure; and
THEREFORE, based upon good and valuable consideration, as acknowledged by each
party, and as set forth herein, and based upon the mutual covenants and conditions listed in this
Agreement, the parties agree as follows:
1. In lieu of foreclosure, TYLER HANSEN and JAYMIE HANSEN agree to
convey, and The BANK OF STAR VALLEY, INC. agrees to accept, a Warranty Deed
transferring all right, title and interest of TYLER HANSEN and JAYMIE HANSEN in the z
2.53 acres of raw ground in Thayne, Wyoming, to -wit: 0 W n
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A portion of the property referred to in the Deed recorded in Book 398PR, on i o m i Page 264, within the NE1 /4SE1/4 of Section 18, Township 34 North, Range 118 o
West, of the 6th P.M., Lincoln County, Wyoming, the metes and bounds being z z 03
more particularly described as follows: 0 m It IQ
M S 11 CO w
BEGINNING at the B.L.M. type Monument marking the Paul N. Scherbel RLS
164 1987, location for the Northeast Corner of said NE1 /4SE1 /4; z !T1 cfl
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thence South 0 °45'30" West, along the East line of said NE1 /4SE1 /4, 456.90 feet; 2 x v N D
thence West 113.69 feet; K K
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thence North 57 °59'44" West 65.89 feet; x
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thence North 29 °35' 19" West 56.31 feet;
thence North 8 °46'46" West 92.38 feet;
North 14°08'10" West 121.48 feet;
thence North 37 °29'06" West 139.13 feet;
thence North 89 °56'48" East 371.04 feet, to the Point of Beginning.
2. All income realized from the property after the Deed in Lieu of Foreclosure is
executed shall belong to THE BANK OF STAR VALLEY, INC.
3. That THE BANK OF STAR VALLEY, INC. does not assume nor will it be liable
for any debts of TYLER HANSEN and JAYMIE HANSEN which were incurred before or after
the execution of the Deed in Lieu of Foreclosure.
4. That TYLER HANSEN and JAYMIE HANSEN will execute the necessary
Affidavits and other documents to allow THE BANK OF STAR VALLEY, INC. to obtain title
Agreement for Deed in Lieu of Foreclosure
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insurance on the property, including proper lien coverage and will work with THE BANK OF
STAR VALLEY, INC. in every manner including the timely execution of all documents to
facilitate the transfer contemplated by this Agreement.
5. This Agreement shall be binding on all successors, assigns and representatives,
heirs and agents of the parties.
IN WITNESS WHEREOF, the parties have hereto placed their signatures on the date and
year above written.
STATE OF
)ss.
COUNTY OF I -C
My Commission Expires:
TYLER HANSEN
JAYMkt HANSE
The foregoing instrument was acknowledged before me, a Notarial Officer, by TYLER
HANSEN and JAYMIE HANSEN, this 'Y/ 4' day of 't \,v- 2013.
NOTARIAL OF
Agreement for Deed in Lieu of Foreclosure
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