HomeMy WebLinkAbout886312 RECEI~,-~
LINCOLN
.... 50?351
JsOOK -' PR PAGE.__.--------
886312
ASSIGNMENT OF REAL ESTATE PURCHASE AGREEMENT
AND QUITCLAIM DEED
Notice of Assignment of Buyer's Interest under Real Estate Purchase Agreement and
Quitclaim Deed ("Assignment") given July //e~, 2002, by and between Freedom Investments,
LLC a Wyoming limited liability company of P.O. Box 1616, Afton, WY 83101 (Freedom),
Brian Gary Smith and Lisa Antionette Smith, Trustees of the Brian Gary Smith and Lisa
Antionette Smith Family Trust dated July 2, 1996 of P.O. Box 1156 Salem, UT 84653-1156'
("Smith"), and John Griffiths and Laura Griffiths of 9805 Glenrock Drive, Las Vegas, NV
89134 ("Griffiths").
1. On December 18, 2001 Freedom as seller and Smith as buyer entered into an Real
Estate Purchase Agreement ("Agreement") in which Freedom agreed to sell to Smith as buyer
real property located in Lincoln County, Wyoming. A Notice of Real Estate Purchase
Agreement for this sale, also dated December 18, 2001, was recorded by the Lincoln County
Clerk on December 31, 2001 as Instrument No. 878273 in Book 480PR on page 370. The real
property is more particularly described as follows:
That part of Section 28, T35N Rll9W of the 6th P.M., Lincoln County,
Wyoming, described on attached Exhibit A.
2. Griffiths desires to acquire the above described real property by paying the remaining
balance owned to Freedom under the Agreement pursuant to the terms of the Agreement.
3. Smith desires to sdl and assign all of his interest under the Agreement for the above
described property to Griffiths in consideration of Griffiths assumption of the principal balance
still due in the amount of $-t73,-094-.~0 under the Agreement.
172,379.61
4. Freedom, pursuant to Paragraph 20 of the Agreement, will consent to Smith's
assignment of their interest under the Agreement to Griffiths, on condition that the payments due
Freedom under the Agreement are made by Griffiths as required by the Agreement.
5. The parties agreement that as of the date of closing the principal balance due under the
Agreement is $.173,094.00, that the payments are current through the payment of June, 2002.
NOW THEREFORE, in consideration of the mutual covenants herein set forth, the
parties agree as 'follows:
1. Smith ASSIGNS and QUITCLAIMS all of their right, title and interest under the
A_greement and in and to the real property as described in the Agreement and this Assignment to
jOhn Griffiths and Laura Griffiths.
352
172,379.61
2. John Griffiths and Laura Oriffiths agrees to assume the balance of $~3[3,-09~.00 still
due under the Agreement and to pay that sum as required in the Agreement beginning July 14,
2002 and to abide by all the obligations of the buyer in the Agreement.
3. All payments to Freedom shall be made payable to The Bank of Star Valley, as
escrow agent pursuant to the existing escrow for the Agreement.
4. Griffiths assumes liability as the buyer under the Agreement and agrees to be bound
by all of the terms, covenants and conditions of the Agreement as though they were the original
maker of the Agreement, including without limitation, personal liability to make all payments to
Freedom required by the Agreement beginning July 14, 2002. The Agreement and all other
documents executed pursuant to the Agreement are incorporated herein by this reference, and
Griffiths admits having received copies of those documents and reviewed them. Griffiths
simultaneously with the execution of this Assignment shall execute a Quitclaim Deed for the
described real property to Freedom which shall be placed in the escrow as provided in Paragraph
5 of the Agreement and in the separate Escrow Instructions.
5. Freedom consents to the assignment of the Smith interest in the described property
under the Agreement to Griffiths. Freedom also agrees to execute a Warranty Deed for the
described real property to Griffiths which shall be placed in the escrow as provided in Paragraph
5 of the Agreement and in the separate Escrow Instructions.
6. The parties agree that a copy of this Assignment shall be delivered to The Bank of Star
Valley as escrow agent. Freedom, Smith and Griffiths agree that in all respects, except as
modified in the Assignment, the Agreement is hereby reconfirmed by them and they all agree to
be bound by all of the terms', covenants and conditions of the Agreement. They specifically
request that The Bank of Star Valley continue administration of the escrow in accordance with the
terms of the Agreement as modified by this Assignment.
IN WITNESS WHEREOF, the parties have executed this Assignment as of the day and
year first above written.
Brian Gary Smim~ l rustee
Jo~Griffiths-~ [¥~ ' LA/
Lisa Antionette Smith, Trustee
353
Sta~e of Utah
County of O[~& 0&]'~6'~'2
The foregoing instrument was acknowledged before me by Brian Gary Smith and Lisa
Antionette Smith, Tmstees~f the Brian Gary Smith and Lisa Antionette Smith Family Trust
dated July 2, 1996 this -~ day of July, 2002.
Witness my hand and official seal.
My commission expires: g"l ~'~O0~
State of Wyoming
County of Lincoln
The foregoing instrument was acknowledged before me by Dennis L. Hale Managing
partner of Freedom Investments, LLC this --.~t~ day of July, 2002.
Witness my hand and official seal.
My commission expires:
State of Nevada
County of Clark
~F- ..... Notary ~ublic
ounty of ~ State of ~[
The fo~l~oing instmrri~lcgt was acknowledged before me by John Griffiths and Laura
Griffiths this day o~_~, 2002. ~/~/
Witness my hand and official seal.
! Notary Public
My Commission Expires:
D'7- i>..--o
No. 0~-7,~787.~ &
EXHIBIT A
Legal Description for
"East 50-49.725 Acres"
A portion of the property referred to in the Deed recorded in Book 449PR on page 83 within the
E¥2SE~A of Section 28, T35N R119W of the 6th P.M., Lincoln County, wyoming, the metes and
bounds being more particularly described as follows:
BEGINNING at the Referenced Spike found marking the Paul N. Scherbel RLS 164, 1967
location for the Southeast corner of said E½SE~A being the southeast corner of the land referred
to in Deed recorded in said Book 449PR on page 83;
thence N 89o00'46'' W, along the South line of said EI/2SE~A, 511.50 feet to the Southeast corner
of the Carey property referred to in the Quit Claim Deed of record in Book 424PR on
page 444;
thence N 0o59' 14" E, along the East line of said Carey property, 297.00 feet to the Northeast
comer of said Carey property;
thence N 89000'46'' W, along the North line of said Carey property, 198.00 feet to the
Northwest corner of said Carey property;
thence S 0059' 14" W, along the West line of said Carey property, 66.00 feet to the Northeast
corner of the Hokanson property referred to in the Quit Claim Deed of records in Book
412PR on page 335;
N 89000'46'' W, along the North line of said Hokanson property, 141.77 feet;
N 0°46'26.'' E, 922.66 feet to the Southeast comer of the Wind River Management Trust
property referred to in the Deed of record in Book 387PR on page 495;
N 0046'26'' E, along the East line of said Wind River Property, 1491.12 feet to a point in
the North line of said EI/2SE~A;
S 88o51'55'' E, along said North line, 857.44 feet to the B.L.M. type Monument found
marking the Marlowe A. Scherbel PLS 5368, 1993 location of the Northeast comer of
said EI/2SE ~A;
S 0055'34.' W, along the East line of said Ea/2SE~A being the east line of the land referred
to in Deed recorded in said Book 449PR on page 83, 2642.56 feet to the POINT OF
BEGINNING.
thence
thence
thence
thence
thence
4
355
RESERVING UNTO GRANTOR an easement for ingress, egress and utilities to the land being
retained by Grantor, along the easement described as follows:
A 40 feet non-exclusive right of way easement along and through a portion of the Southwest
corner of the above described property, the metes and bounds being more particularly described
as follows:
Beginning at the Southeast corner of the Carey property referred to in the Quit Claim Deed of
record in Book 424PR on page 444, said point being N 89000'46'' W, along the South line of
said SE¼SE~A, 511.50 feet from the Referenced Spike found marking the Paul N. Scherbel RLS
164, 1967 location for the Southeast corner of said EI/2SE ~;
thence N 0029' 14" E, along the east line of the said Carey property, 297.00 feet to the northeast
corner of said Carey property;
thence N 89000'46'' W, along the north line of said Carey property, 198.00 feet to the Northwest
corner of said Carey Property;
thence S 0°59'14'' W, along the West line of said Carey property, 66.00 feet to the Northeast
corner of the Hokanson property referred to in the Quitclaim Deed record in Book 412PR
on page 335;
thence N 89000'46'' W, along the north line of the said Hokanson property, 141.77 feet;
thence N 0046'26'' E, 106.00 feet;
thence S 89000'46'' E, 380.16 feet;
thence S 0046'26'' W, 337.00 feet to a point in the south line of said SE~ASE~A;
thence N 89000'46'' W, along said south line, 41.26 feet, to the point of beginning.
5