HomeMy WebLinkAbout893871 RECEIVED
NOTICE OF OBLIGATIONS CONCERNING REW~~~~ERK
8 9 3 8 7 I 0: 2 t,i, z 3
TO WHOM IT ~Y CONCE~: d E A N ['~ E W A (~ NL ~ [:~
~S~ON ~NC~S, ~C., a Wyo~nB Corporation, of ~.O. Box 4]62, Bedford,
Wyo~ng 83 ] ]2, acting by and t~ough its ~resident, Roger L. ~reston, hereby provides notice,
pursuant to the requirements of ~aragraph 6 of an Agreement to ~urchase Shares of Stock in
~resmn ~anches, Inc. entered into by and between Marsha ~reston Mc~m, Roger L ~reston,
and ~reston Ranches, Inc. on the ]3th day of June, 2003, of the ~ollowing obligations concerning
land owned by said Corporation:
1. Within five (5) years from the date of said Agreement, Preston Ranches,
Inc. shall convey to Marsha Preston McKim five (5) acres of the land owned by said
Corporation, said five (5) acre parcel to be selected by McKim, with the approval of said
Corporation; and
2. For a period of twenty (20) years from the date of said Agreement, said
Corporation shall be obligated to pay to Marsha Preston McKim three-tenths (3/10) of the
net proceeds to said Corporation, after payment of all expenses thereof and all taxes due
thereon from said Gorporation, on ali fee simple conveyances of land owned by said
Corporation, provided, however, that said Corporation shall be deemed to have
previously paid the first Three Hundred Thousand Dollars ($300,000.00) due to Marsha
Preston McKim pursuant to said obligation, and she shall not be entitled to addition
compensation until the amount due to her pursuant to said obligation exceeds Three
Hundred thousand Dollars ($300,000.00).
NOTICE OF OBLIGATIONS CONCERNING REAL PROPERTY
PRESTON ~:~IES, INC.
316
Tl~e land encumbered by the obligations of said Agreement, said land being that land
owned by said Corporation, is the foliowing land:
See atta~:hed list, attached hereto as Exhibit A, as generally shown on the drawing,
attaclied hereto as Exhibit B.
The obligations of said Agreement are binding on the parties to said Agreement, Marsha
Preston McKim, Roger L. Preston, and Preston Ranches, Inc., and their heirs, successors, and
assigns.
DATED this
__ day of September, 2003.
BY:
PRESTON RANCHES, INC.
STATE OF WYOMING )
) SS.
COUNTY OF LINCOLN )
ACKNOWLEDGED before me by Roger L. Preston, who acknowledged that lie is the
President of Preston Ranches, Bm., and that he has signed the above instrument for and on behalf
of the Corporation pursuant to authority granted him by the Corporation's Board of Directors,
this 2q'm~ day of SePtember, 2003.
WITNESS my hand and official seal.
My Commission expires: O~/l~/O-I.
RY PUBLIC
NOTICE OF OBLIGATIONS CONCERNING REAL PROPERTY
PRESTON RANCHES, INC.
PAGE 2 OF 2
EXHIBIT A
PRESTON RANCHES, INC.
LAND INVENTORY
JUNE 2003
Township 34 North, Range 118 West
Section 21
Section 22
Section 28
Section 29
Section 32
El/2 SW1/4
SE 1/4
El/2 SW1/4
NWl/4
W1/2 NEI/4
N1/2 N1/2 SE1/4
SW1/4 (less 5 acres SW comer)
NE1/4
SE1/4 (Bedford Townsite lots)
SWl/4 (less 5 acres SW corner)
Township 33 North, Range 118 West
Section 5
Section 6
Section 7
Section 18
S 1/2 NWl/4
Lot 7 (SWl/4 SW1/4)
SE1/4 SW1/4
SWl/4 SE1/4
Lots 1, 2, 3, 4, and SE1/4 SW1/4
less 9 ~5 acres NE corner area
Lot I (NW 1/4 NW 1/4
NE1/4 NWl/4)
Townslfip 33 North, Range 119 West
Section 12 SE1/4 NE1/4
El/2 SE1/4
80 acres
160 acres
80 acres
160 acres
80 acres
40 acres
155 acres
160 acres
27.5 acres
155 acres
80 acres
40.37 acres
40 acres
40 acres
194.65 acres
40.08 acres
40 acres
40 acres
80 acres
1,692.6 acres
EXHIBIT B
PRESTON RANCHES, INC.
LAND INVENTORY
JUNE 2003