HomeMy WebLinkAbout970757WARRANTY DEED IN LIEU OF FORECLOSURE
KNOW ALL MEN BY THESE PRESENTS, that this WARRANTY
EED IN LIEU OF FORECLOSURE is made as of this -4` day of
2012, by and between Richard H. Reed and Rhonda F Reed,
rantors whose present mailing address 250 Bramble Berry Dr., Star Valley
Ranch, Wyoming 83127 and the JPMorgan Chase Bank, National Association
(the "Grantee whose mailing address is 10790 Rancho Bernardo Road, San
Diego, CA 92127.
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1.1
WITNESSETH:
GRANTORS, for and in consideration of the sum of $10.00 and
other good and valuable consideration, to Grantors in hand paid by Grantee, the
receipt and sufficiency of which are hereby acknowledged and confessed, and
further in consideration of (a) the waiver by Grantee of its rights under the
mortgage described below, including the right to foreclose said mortgage, and (b)
the agreement of Grantee to reduce, and thereby release Grantors from any
further liability for payment of the indebtedness outstanding and unpaid by
Grantors pursuant to that certain Promissory Note dated as of March 16, 2009, in
the original principal amount of $290,816.00, executed and delivered by Grantors
to Grantee, by these presents, do hereby GRANT, BARGAIN, CONVEY, and
WARRANT unto Grantee all of their right, title, equity (including their equitable
and statutory rights of redemption), and interest in and to the following described
real property located in Lincoln County, State of Wyoming, more particularly
described as:
LOT 18 OF TOWNSITE OF BEDFORD. BLOCK 5,
FOURTH FILLING. LINCOLN COUNTY, WYOMING
AS DESCRIBED ON THE OFFICAL PLAT THEREOF
with an address of 96 Abe Lane, Bedford, WY 83112
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 hereby releasing and waiving all rights under
and by virtue of the homestead exemption laws of the State of Wyoming.
TO HAVE AND TO HOLD the Property, together with all and
singular, any and all other rights and appurtenances thereto in anywise belonging
unto Grantee, its successors and assigns FOREVER; and Grantors do hereby
bind themselves and their successors and assigns to WARRANT and FOREVER
DEFEND all and singular the Property unto Grantee, its successors and assigns,
against every person whomsoever lawfully claiming or purporting to claim the
same or any part thereof.
BUT IT IS HEREBY EXPRESSLY ACKNOWLEDGED AND
AGREED THAT:
A. This Warranty Deed in Lieu of Foreclosure, and the
conveyance being made hereunder, is being executed, delivered, and accepted
in lieu of foreclosure of the Lien (as hereinafter described and defined), and as
an absolute conveyance to Grantee of all right, title, equity, and interest of
Grantors in the Property, including specifically, but without limitation, any equity
of redemption and the statutory right of redemption of Grantors therein or thereto.
Grantee has forgiven and fully released Grantors from any and all debt,
obligation, cost and charges existing under and by virtue of the promissory note
dated March 16, 2009;
RECEIVED 5/1/2013 at 2:16 PM
RECEIVING 970757
BOOK: 810 PAGE: 455
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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B. The lien "Lien for which this Deed is given in lieu of
foreclosure was created by that certain Mortgage dated as of March 16, 2009,
executed and granted by Richard H. Reed and Rhonda F Reed, as Mortgagors,
to Mortgage Electronic Registration Systems, Inc., as nominee for Buffalo
Federal Savings Bank its successors and assigns, as mortgagee, and 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 March 19, 2009, at Reception No.
946024 in Book 718 at Page 130.
C. Said mortgage was assigned to JPMorgan Chase Bank,
National Association by that certain Corporate Assignment of Real Estate
Mortgage dated April 11, 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
April 23, 2012 at Reception No. 964210 in Book 785 at Page 129.
D. Said mortgage was assigned to JPMorgan Chase Bank,
National Association by that certain Corporate Assignment of Real Estate
Mortgage dated May 4, 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
May 10, 2012 at Reception No. 964489 in Book 785 at Page 859.
E. Grantors agree that if Grantee accepts title to the Property
under this Warranty Deed in Lieu of Foreclosure, such acceptance will not create
any liability on the part of Grantee to third parties who may have claims of any
kind against Grantors in connection with the Property. Grantee will not, under
this Warranty Deed in Lieu of Foreclosure, assume or agree to discharge any
liabilities with respect to the Property that shall accrue or occur prior to the date
on which this Warranty Deed in Lieu of Foreclosure is 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 (the date on which such recording is made is
hereinafter called the "Recording Date Grantors agree to indemnify and hold
harmless Grantee from and against any loss, cost, damage, or expense
(including attorneys' fees and court costs) resulting from claims arising out of the
Property and arising from events that occurred prior to the Recording Date with
respect to the Property. This Warranty Deed in Lieu of Foreclosure does not
confer any third -party benefits on persons who are not signatory to this
instrument other than Grantee.
F. The acceptance of this Warranty Deed in Lieu of Foreclosure
by Grantee is expressly conditioned upon and is subject to the representation
and warranty of Grantors that title to the Property is good and indefeasible title,
free and clear of all liens and encumbrances of any nature whatsoever, except
for: (1) Any covenants, reservations, restrictions, conditions, exceptions, and
easements of record in the chain of title as of the Recording Date; (2) Any liens
of record in the chain of title (as of the Recording Date) which have priority over
the Lien; (3) The Lien; and (4) Encumbrances permitted by the Lien. If title to the
Property is not good and indefeasible as represented in this Paragraph E., then,
at the option of Grantee, Grantee may, in addition to any other remedy available
to it under this Warranty Deed in Lieu of Foreclosure, at law, or in equity,
reinstate and revive the satisfaction and release of the Indebtedness, in which
event, the satisfaction and release of the Mortgage and any qualifications upon
the Lien shall be null and void and ineffective for all purposes.
IN WITNESS WHEREOF, this Warranty Deed in Lieu of
Foreclosure has been executed on behalf of Grantors and Grantee on the date of
the taking of their acknowledgments, but the effective date of this Warranty Deed
in Lieu of Foreclosure for all purposes shall be deemed to be the Recording
Date.
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STATE OF
SS.
COUNTY OF L I nc_j(rt
DeVONNA FRASIER NOTARY PUBLIC
County of
Lincoln
State of
Wyoming
My CommIs8on Expires Jul 1, 2015
My Commission Expires:
Witness my hand and official seal.
GRANTORS:
Richard H. Reed and Rhonda F Reed
By:
Ric and H. Reed
By: a07-
Rhonda F Reed
ACKNOWLEDGMENT
Title (and Rank)
IF 4,01
The foregoing instrument was acknowledged before me by Richard
H. Reed and Rhonda F Reed this 1day of
2012.
_mil' '�JLL. 1 L,/
Notary Public
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