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HomeMy WebLinkAbout891920When Recorded Return to: Bruce W. Stratford Attorney at Law 1168 E. 4800 S. Ogden, Utah 84403 · 'BOOK~: PRPAGE I 0 7 RECEIVED LINCOLN COUNT'( CLERK NOTi~i~Oi~[M 03 JUL ?_5 9: 3h JEANNE Pursuant to Wyoming Sta~tes 34-10 et seq. tbs notice of claim i~'Set' ~0~h against the following described real propeAy located ~ Lincoln Count, Wyoming, to wit: That part of the SE 1/4 SE 1/4 of Section 36 T 32N, R119W, Lincoln County, Wyoming, it being the intent to more correctly describe that tract of record in the Office of the Clerk of Lincoln County in Book 312 of Photostatic Records on page 648, as follows: Beginning at the Southeast comer of Lot 17 of the Airport Addition to the Town of Afton, of records in said Office as Plant No. 313, on the west right-of-way lines of U.S. Highway 80; Thence South 01003'54'' East, 81.27 feet, along said right-of-way line to a marker; thence continuing South 01003'54'' East 278.73 feet, along said right-of-way line to a corner, North 06042'40'' West, 818.20 feet, from the southeast comer of said SE 14/Se 1/4 found as described in a Corner Record on file in the Office of the Clerk of Lincoln County; thence South 89056'26'' West, 215.44 feet, to a comer; thence North 01°102'24" West, 360.00 feet, to the Southwest corner of said Lot 17; thence North 89o56'24'' East, 216.12 feet, along the south line of said Lot 17 to the corner of beginning; Encompassing an area of 1.78 acres, more or less; The Base Bearing for this survey is the south line of Lot 17 of the Airp°rt Addition to the Town of Afton, being North 89056'24'' East; each "corner" marked by a 2" galvanized steel pipe with brass cap inscribed, "Marlowe A. Scherbel PLS 5368 Alton, Wyoming" and appropriate details, except as otherwise described above; each marker marked by a 6" x 6" concrete post with brass marker inscribed "State Highway Dept. Reference Marker" or "R-O-W Marker" and appropriate details; all in accordance with the Plat filed in the Office of the Clerk of Lincoln County titled. "Plat to accompany ordinance No. 422 for the Call Air Foundation addition annexation to the Town of Alton within the SE I/4 SE 1/4 Section 36 T32N R119W Lincoln County, Wyoming, dated 8 Februm3, 1996. The terms of this notice of claim are set forth on the attached Compensation Agreement. Datedthisr"JQ~aY°f '~?~ '2003'B~for~ State of Utah Ss: County of Weber ' Subscribed and ~~y of July 2003. 108 PAYMENT OF COMPENSATION AGREEMENT This agreement is entered into by and between the Call Air Foundation, Inc. a Wyoming Non Profit Corporation and Bruce W. Stratford, an individual. ARTICLE I RECITALS As set forth in the corporate resolution of even date herewith the Call Air Foundation hereby agrees to honor as set forth hereafter the Compensation Agreement executed by Vema A. Call on the 26th day of August 1999, Exhibit "A hereto, to meet the original intent of compensation as anticipated by Bruce W. Stratford in 1992 upon the creation of the Call Air Foundation. In 1992 it was anticipated and understood that upon the death of Reuel T. Call and Verna A. Call that the Call Air Foundation would receive the estate of Reuel T. Call and or Verna A. Call. As part of that transaction it was further anticipated that Bruce W. Stratford.would perform professional services dealing with the estates and the Call Air Foundation. In that Vema A. Call adopted a Trust in 1999, which was later modified 2001 and given that she passed away prior to Reuel T. Call the residual estate ofReuel T. Call then became the estate which had tobe dealt with to settle up the final financial affairs. It was originally.estimated and understood that the payment from the estate management and transition would be in the amount orS100,000.00. It is this sum that the Call Air Foundation recognizes as the compensation amount to be paid to Bruce W. Stratford as hereafter set forth. This amount is less than that stated on the Compensation Agreement executed by Verna A. Call. It is however reflective of the original agreement of the parties and represents the understanding of Bruce W. Stratford. In that it is the intent of both Bruce W. Stratford and the Call Air Foundation that the Foundation continue forward, the payment of the $100,000.00 shall be made as set forth hereafter with the desire of the parties that the funds paid out shall not remove from the Foundation its future operational abilities. It is noted that the assets of the Foundation currently consist of land and buildings in Alton, Wyoming. The Foundation is not liquid at this time. It is further noted that estate of Reuel~T. Call and Vema A. Call do not present any source of future funding for the Foundation. The Board of Directors of the Foundation have resolved in a meeting of March 21,2003 to continue forward with the Foundation by placing the real estate of the Foundation on the market for sale. In so doing it is anticipated that the Foundation will realize adequate sums to pay its cUrrent obligations plus additional monies that will enable it to operate into the future. Through the sale of real estate the Foundation may also realize adequate funds to pay the compensation to Bruce W. Stratford. The Foundation has. initiated the probate of the estate of Reuel T. Call. William Call, has been appointed as executor and Bruce W. Stratford as legal counsel for the probate estate; Pursuant to Wyoming Statutes the legal counsel for the probate estate is entitled to a payment from the estate for services performed. The amount to be paid is not yet established and will not be known until the estate is closed. Exhibit "B" hereto represents the current legal time and funds expended by Bruce W. Stratford in the Probate of the Call estate. This exhibit will be updated from time to time. This exhibit does not constitute under Wyoming law what may be paid to Bruce W. Stratford for probate . services as Wyoming uses a percentage payment method followed with a judicial review to determine the actual compensation paid to legal counsel. The probate of the estate of Reuel T. Call involves property thatis owned in part by the estate ofVerna A. Call. This property will through the probate be sold to pay debts and claims of creditors. The authority and ability to sell this property and render it marketable will come through the legal services performed in the probate. A portion of said costs and services should be borne by the estate of Verna A. Call. Further the agreement executed by Vema A. Call on August 26, 1999 provides that the estate of Vema A: Call bear a burden of payment of the $100,000.00. ARTICLE II PAYMENT Therefore it is agreed that the $100,000.00 be paid as follows: 1. Any sums received by Bruce W. Stratford from the probate of the estate of Reuel T. Call will first be deducted against the $100,000.00. 2. Bruce W. Stratford will request of the Trustee / Executor of the Vema A. Call estate that funds be paid by that estate to Bruce W. Stratford. Any such funds received by Bruce W. Stratford from the estate ofVerna A. Call will be deducted against the $100,000.00' 3. Thereafter the balance of the funds (CAF Payment) shall be paid by the Call Air Foundation. In that the source of funds for the CAF Payment is the sale of the assets of the Call Air Foundation, the payment of the above monies will be paid at the time that the assets have been Sold, monies from the sale have been collected, and a plan for the future of the Foundation is in place and being carried out. The Foundation agrees to pursue the sale of its assets in good faith. If after a year and a half from the date of this agreement the Foundation is unable to make the payment according to the conditions set forth herein then at that time the unpaid funds will bear interest at the then published prime rate of Wells Fargo, Afton, Wyoming. 110 ARTICLE III GENERAL 1. This agreement may be pledged, hypothecated, assigned or otherwise transferred in whole or in part by Bruce W. Stratford. Specifically including a transfer to trust or management for his familY. 2. This agreement shall be binding upon all parties hereto and represents the complete and final agreement regarding the compensation due Bruce W. Stratford from the Call Air Foundation in satisfactiOn of the original agreement from 1992. 3. This agreement shall be binding upon the Call Air Foundation and any successor in .interest thereto. 4. This agreement shall be governed under the laws of the State of Wyoming. All parties hereto consent to the jurisdiction and venue of the Courts of the State of Wyoming. In Witness Whereof this agreement is entered into this ]'¢~' day of 412/v [, 2003. Call Air Foundation William Call //Herb~Ande~~ -4 'Tce/~' Stratf~d