HomeMy WebLinkAbout878099 Memorandum. ,ofAereement 4~gpR p^oE
. KNOW ALL PERSONS BY THESE P~SENTS that a Contract for Deed, hereinafter referred
to as the "Agreement", was made and entered on the 28th day of November 2001, hereinafter
referred to as the "Closing Date", by and between PI Idaho, LLC, an Idaho Limited Liability
Company, of PO Box 4429, Jt~,~,kson, Wyoming, 83001, hereinafter referred to as "Seller", and
Brian Ware and Kathy Ware, kusband and wife, of PO Box 301, Victor, ldaho, 83455, Jackson,
Wyoming, 83001, hereina~er collectively refe~ed to as "Purchaser".
WITNESSETH:
That the Seller hereby agrees to sell to Purchaser and Purchaser hereby agrees to purchase fi'om
Seller the following-described prope~y situated at 434 Meadows Drive, Town of Alpine, County
of Lincoln, State of Wyoming, hereina~er referred to as the "Premises", and more particularly
described as follows:
Lot 12, of the Three Rivers Meadows Estates Subdivision A, as platted and recorded in
the Office of the Lincoln County Clerk, Lincoln Co~ty, Wyoming.
Together with arid including all improvements thereon and all appurtenances and
hereditaments thereunto belonging. Subject to all covenants, conditions, restrictions,
easements, reservations, and rights-of-wayof sight and/or record.
1.01. Nature of Agreement
The Agreement sets forth the terms upon which Purchaser Will purchase the Premises from Seller
and Seller will sell the Premises to Purchaser. Upon the expiration of the Term of the
Agreement, and provided that Purchaser is not in default with regards to the Agreement, Seller
will convey title to the Premises to Purchaser by Warranty Deed. Provided, however, that Seller
shall not be required to warrant title against any person, firm, or corporation claiming by or
through Purchaser.
1.02. Term of Agreement
'The term of.the Agreement shall run for a period of thirty years (30) and shall commence on the
1st day of December, 2001, and shall run until the 30th day of November, 2031, unless sooner
'terminated or longer extended by the mutual written agreement of the parties hereto, provided
that sufficient additional consideration is provided for such termination or extension.
1.03. Taxes, Utilities and Insurance
Pursuant to the terms of the Agreement, Purchaser shall satisfy and pay'all taxes, utilities and
insurance related to the Premises, and incurred subsequent to December t, 2001.
1..04. Indemnification
Pursuant to the terms of the Agreement, Purchaser shall indemnify Seller and save it harmless
fi'om and against an}; and all claims, actions, damages, liability and expense in connection with
loss bf life, personal injury or damage to property occurring in or about, or arising out of or fi'om
the premises and adjacent sidewalks and areas, or the .)cc~upancy or use of the Premises by
Purchaser, or occasioned wholly or in part by any act or omission of Purchaser, its agents,
licensees, invitees, and guests.
In case Seller shall be made a party to any litigation commenced by or against Purchaser, its
agents, licensees, invitees, or guests, I urchaser shall protect and hold Seller harmless and shall
Memorandum of Agreement
Page - 1 of 3
pay all costs, expenses and reasonable attorneys' £ees incurred or paid by Seller in connection.
With such litigation.
1..05, Assignment or Other Disposition by Purchaser
The Agreement is made upon the e.~press condition that Purchaser shall not sell, lease, tr&nsfer,
relinquish, assign or otherwise dispose of Purchaser's interest in this Agreement or the Premises
at any time during which the Agreement remains not fully performed or during which there are
outstanding amounts due under the Agreement, either voluntarily or by operation of law, without
the express written consent of Seller first had and obtained.
1.06. Disposition by Seller
Seller shall not dispose of the Premises, through sale, lease, or other conveyance, dm:ing the term
of the Agreement.
1.07. Remaining Terms of Agreement
The r~maining terms of the Agreement are of a private nature between Purchaser and Seller and
are fully set forth in the Agreement. This Memorandum of Agreement is not intended to replace
or supercede the Agreement, but rather is simply intended to place the world on notice of the
Agreement between Purchaser and Seller.
IN WITNESS WHEREOF, the parties hereto have executed this Memorandum of Agreement.
SELLER:
PI Alpine, LLC
A Wyoming Limited Liability Company
, Manager Eleanor Ingram Porter, Manager
PURCHASER: ~,
-Brian and Kathy Ware
Brian Ware
{CERTIFICATION ON FOLLOWING PAGE}
Memorandum of Agreement
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STATE OF WYOMiNG } {J'~7~(j~ 6.9 7
SS.
County of Teton }
The. foregoing Contract for Deed was subscribed, sworn to, and acknowledged before me
by the James A. Porter and Eleanor Ingram Po~er, Managers of PI Alpine, LLC, a Wyoming
Limited Liability Company, Seller, on this 28th day of November, 2001.
Witness my hand and ot:ficial seal.
~u ~ r~ State of ~
~ . , Notary Pub~ State of Wyomjn~
Te~n t~ Wyoming ~ . . ~.
My ~lon ~pkes 12-16-~oo~.~_~ My Commission Expires' /~/~/~ ~
STATE OF WYOMING }
SS.
County of Teton }
The foregoing Contract for Deed was subscribed, sworn to, and acknowledged before me
by Brian and Kathy Ware, Purchaser, on this 28th day of November, 2001.
Witness my hand and official'seal.
',,:'~ nhta~ [S]~ 8tm ot~ Notary Puc!k~mxm~ State of Wy0ming
~i.:.,,toa ~ ~omlng ~ My Commtission_Expires: r/~//~/~g .--
Memorandum of Agreement
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