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HomeMy WebLinkAbout895958 F, CoclVE, D LIN OOLH OO .I f,t'TY CLERK 895958 Space Above This Line For Recording Data ASSIGNMENT OF LEASES AND RENTS DATE AND PARTIES. The date of this Assignment of Leases and Rents (Assignment) is December 12, 2003. The parties and their addresses are: ASSIGNOR: VIJENDRA SUNDAR aka V.J. Sundar P O BOX 367 Kemmerer, Wyoming 83101-0367 LYNETTE S. SCHMID SUNDAR husband and wife PO Box 367 Kemmerer, Wyoming 83101 LENDER: COMMUNITY FIRST NATIONAL BANK Organized and existing under the laws of the United States of America 801 Pine Avenue Kemmerer, Wyoming 83101 TIN: 1. MAXIMUM OBLIGATION LIMIT. The total principal amount secured byihis Assignment at any one time will not exceed $186,854.42. This limitation of amount does not include interest and other fees and charges validly made pursuant to this Assignment. Also, this limitation does not apply to advances made under the terms of thisi Assignment to protect Lender's security and to perform any of the covenants contained in this Assignment. 2. SECURED DEBTS. This Assignment will secure the following Secured Debts: A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and replacements. A promissory note, No. 3888602550, dated December 12, 2003, from Vijendra Sundar and Lynette S. Schmid Sundar (Borrower) to Lender, with a loan amount of $186,854.42 with an interest rate based on the then current index Value as the promissory note prescribes and maturing on December 15, 2008. B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Assignment. 3. ASSIGNMENT OF LEASES AND RENTS. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to secure the Secured Debts and Assignor's performance under this Assignment, Fairview Motel Wyoming Assignment of Leases and Rents W Y/4XjlochthO~O6,~DOOO,0,03657015121103Y Inc., St, Cloud, MN ~-"~." Initials Page Assignor assigns, grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title and interest in the following (all referred to as Property). A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal ~¢e~ments for the use and occupancy of the Property, including any extensions, renewals, modifications or replacements (all referred to as Leases). B. Rents, issues and profits (all referred to as Rents), including but not limited to security deposits, minimum rent, percentage rent, additional rent, common area maintenance charges, parking charges, real estate taxes, other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles, and all rights and claims which Assignor may have regarding the Property. C. The term Property as used in this Assignment shall include the following described real property: SEE ATTACHED SCHEDULE C The property is located in Lincoln County at 61 US Highway 30/189, Diamondville, Wyoming 83116. In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also be regarded as a security agreement. 4. PAYMENTS. Assignor agrees that all payments under the Secured Debts will be paid when due and in accordance with the terms of the Secured Debts and this Assignment. 5. COLLECTION OF RENTS. Assignor may collect, receive, enjoy and use the Rents so long as Assignor is not in default. Assignor will not collect in advance any Rents due in future lease periods, unless Assignor first obtains Lender's written consent. Upon default, Assignor will receive any Rents in trust for Lender and Assignor will not commingle the Rents with any other funds. When Lender so directs, Assignor will endorse and deliver any payments of Rents from the Property to Lender. Amounts collected will be applied at Lender's discretion to the Secured Debts, the costs of managing, protecting and preserving the Property, and other necessary expenses. Assignor agrees that this Assignment is immediately effective between Assignor and Lender and effective as to third parties on the recording of this Assignment. This Assignment will remain effective during any statutory redemption period until the Secured Debts are satisfied. Unless otherwise prohibited or prescribed by state law, Assignor agrees that Lender may take actual possession of the Property without the necessity of commencing any legal action or proceeding. Assignor agrees that actual possession of the Property is deemed to occur when Lender notifies Assignor of Assignor's default and demands that Assignor and Assignor's tenants pay all Rents due or to be come due directly to Lender. Immediately after Lender gives Assignor the notice of default, Assignor agrees that either Lender or Assignor may immediately notify the tenants and ,demand that all future Rents be paid directly to Lender. 6. COLLECTION EXPENSES AND ATTORNEYS' FEES. On or after Default, to the extent permitted by law, Assignor agrees to pay all 'expenses of collection, enforcement or protection of Lender's rights and remedies under this Assignment. Assignor agrees to pay expenses for Lender to inspect and preserve the Property and for any recordation costs of releasing the Property from this Assignment. Expenses include, but are not limited to, attorneys' fees, court costs and other legal expenses. These expenses are due and payable immediately. If not paid immediately, these expenses will bear interest from the date of payment until paid in full at the highest interest rate in effect as provided for in the terms of the Secured Debts. To the extent permitted by the United States Bankruptcy Code, Assignor agrees to pay the reasonable attorneys' fees Lender incurs to collect the Secured Debts as awarded by any court exercising jurisdiction under the Bankruptcy Code. 7. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2) Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to the public health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substance," "hazardous waste," "hazardous substance," or "regulated substance" under any Environmental Law. Fairview Motel r;4 Page 2 Wyoming Assignment of Leases and Rents WY/4XjlochthO0600000003657015121103Y ©1996 Bankers Systems, Inc., St. Cloud, MN F_~c~'/~." . :, Assignor represents, warrants and agrees that: 0 8 7 A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance has been, is, or will be located, transported, manufactured, treated, refined, or handled b.y any person on, under or about the Property, except in the ordinary course of business and in strict compliance with all applicable Environmental Law. B. Except as previously disclosed and acknowledged in writing to Lender, Assignor has not and will not cause, contribute to, or permit the release of any Hazardous Substance on the Property. C. Assignor will immediately notify Lender if (1) a release or threatened release of Hazardous Substance occurs on, under or about the Property or migrates or threatens to migrate from nearby property; or (2) there is a violation of any Environmental Law concerning the Property. In such an event, Assignor wilt take all necessary remedial action in accordance with Environmental Law. D. Except as previously disclosed and acknowledged in writing to Lender, Assignor has no knowledge of or reason to believe there is any pending or threatened investigation, claim, o[ proceeding of any kind relating to (1) any Hazardous Substance located on, under or about the Property; or (2) any violation by Assignor or any tenant of any Environmental Law. Assignor will immediately notify Lender in writing as soon as Assignor has reason to believe there is any such pending or threatened investigation, claim, or proceeding. In such an event, Lender has the right, but not the obligation, to partic'ipate in any such proceeding including the right to receive copies of any documents relating to such proceedings. E. Except as previously disclosed and acknowledged in writing to Lender, Assignor and every tenant have been, are and will remain in full compliance with any applicable Environmental Law. F. Except as previously disclosed and acknowledged in writing to Lender, there are no underground storage tanks, private dumps or open wells located on or under the Property and no such tank, dump or well will be added unless Lender first consents in writing. G. Assignor will regularly inspect the Property, monitor the activities and operations on the Property, and confirm that all permits, licenses or approvals required by any applicable Environmental Law are obtained and complied with. H. Assignor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the Property and review all records at any reasonable time to determine (1) the existence, location and nature of any Hazardous Substance on, under or about the Property; (2) the existence, location, nature, and magnitude of any Hazardous Substance that has been released on, under or about the Property; or (3) whether or not Assignor and any tenant are in compliance with applicable Environmental Law. I. Upon Lender's request and at any time, Assignor agrees, at Assignor's expense, to engage a qualified environmental engineer to prepare an environmental audit of the Property and to submit the results of such audit to Lender. The choice of the environmental engineer who will perform such audit is subject to Lender's approval. J. Lender has the right, but not the obligation, to perform any of Assignor's obligations under this section at Assignor's expense. K. As a consequence of any breach of any representation, warranty or promise made in this section, (1) Assignor will indemnify and hold Lender and Lender's successors or assigns harmless from and against all losses, claims, demands, liabilities, damages, cleanup, response and remediation costs, penalties and expenses, including without limitation all costs of litigation and attorneys' fees, which Lender and Lender's successors or assigns may sustain; and (2) at Lender's discretion, Lender may release this Assignment and in return Assignor will provide Lender with collateral of at least equal value to the Property secured by this Assignment without prejudice to any of Lender's rights under this Assignment. L. Notwithstanding any of the language contained in this Assignment to the contrary, the terms of this section will survive any foreclosure or satisfaction of this Assignment regardless of any passage of title to Lender or any disposition by Lender of any or all of the Property. Any claims and defenses to the contrary are hereby waived. 8. CONDEMNATION. Assignor will give Lender prompt notice of any pending or threatened action by private or public entities to purchase or take any or all of the Property through condemnation, eminent domain, or any other means. Assignor authorizes Lender to intervene in Assignor's name in any of the above described actions or claims. Assignor assigns to Lender the proceeds of any award or claim for damages connected with a condemnation or other taking of all or any part of the Property. Such proceeds will be considered payments and will be applied as provided in this Assignment. This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. FaJrview Mote~ ~.~ Wvnmi~g Assignmen! ot Leases and Ren~s h~lals W Y 14Xj~ocnthQ.0_0fi.~30D~..0365701512 ] ] 03Y ~1996 Ba~l<e¢* R~,%tems, Inc., St. Cloud, MN ~.~ Page 3 O88 9. APPOINTMENT OF A RECEIVER. On or after an Assignor's default, Assignor agrees to Lender making an application to the court for an appointment of a receiver for the benefit of Lender to take passession of the Property and the Leases, with the power to receive, collect and apply the Rents. Any Rents collected will be applied as the court authorizes to pay taxes, to provide insurance, to make repairs and to pay costs or any other expenses relating to the Property, the Leases and Rents, and any remaining sums shall be applied to the Secured Debts. Assignor agrees that this appointment of a receiver may be without giving bond, without reference to the then-existing value of the Property, and without regard to the insolvency of any person liable for any of the Secured Debts. 10. DUE ON SALE. Lender may, at its option, declare the entire balance of the Secured Debts to be immediately due and payable upon the creation of, or contract for the creation of, a transfer or sale of the Property. This right is Subject to the restrictions imposed by federal law governing the preemption of state due-on-sale laws, as applicable. 1 1. WARRANTIES AND REPRESENTATIONS. Assignor has the right and authority to enter into this Assignment. The execution and delivery of this Assigr)ment will not violate any agreement .governing Assignor or to which Assignor is a party. A. Title. Assignor has good title to the Leases, Rents, and Property and has the right to assign, grant, bargain, convey, mortgage and warrant to Lender as additional security the Leases and Rents, and no other person has any right in the Leases and Rents. B. Recordation. Assignor has recorded the Leases as required by law or as otherwise prudent for the type and use of the Property. C. Default. No default exists under the Leases, and the parties subject to the Leases have not violated any applicable law on leases, licenses and landlords and tenants. Assignor, at its sole cost and expense, will keep, observe and perform, and require all' otl~er parties to the Leases to comply with the Leases and any applicable law. If Assignor or any party to the Lease defaults or fails to observe any applicable law, Assignor will promptly notify Lender. D. Lease Modification. Assignor has not sublet, modified, extended, canceled, or otherwise altered the Leases, or accepted tile surrender of the Property covered by the Leases (unless the Leases so require). E. Encumbrance. Assignor has not assigned, compromised, subordinated or encumbered the Leases and Rents. 12. cOVENANTS. Assignor agrees to the following covenants: A. Rent Abatement and InsuranCe. When any Lease provides for an abatement of Rents due to fire, flood or other casualty', Assignor will insure against this risk of loss with a policy satisfactory to Lender. Assignor may choose the insurance company, subject to Lender's approval, which will not be unreasonably withheld. B. Copies of Leases. Assignor will promptly provide Lender with copies of the Leases and will certify these Leases are true and correct copies. The existing Leases will be provided on execution of the Assignment, and all future Leases and any other information with respect to these Leases will be provided immediately after they are executed. C. Right To Rents. After default and Lender taking the appropriate affirmative action, Assignor will notify all current and future tenants and others obligated under ti~e Leases of Lender's right to the Leases and Rents. D. Accounting. When Lender requests, Assignor will provide to Lender an accounting of Rents, prepared in a form acceptable to Lender, subject to generally accepted accounting principles and certified by Assignor or Assignor's accountant to be current, accurate and complete as of the date requested by Lender. E. Lease Modification. Assignor will not sublet, modify, extend, cancel, or otherwise alter the Leases, or accept the surrender of the Property"covered by the Leases (unless the Leases so require) without Lender's written consent. F. Encumbrance. Assignor will not assign, compromise, subordinate or encumber the Leases and Rents without Lender's prior written consent. G. Future Leases. Assignor will not enter into any future Leases without prior written consent from Lender. Assignor Will execute and deliver such fur[her assurances and assignments as to these future Leases as Lender requires from time to time. H. Personal Property. Assignor will not sell or remove any personal property on the Property, unless Assignor replaces this personal property with like kind for the same or better value, Fairview Motel Wyoming Assignment of Leases and Rents WY/4XjlochthO0600OOOOO3657015121103Y ©1996 Bankers Systems, Inc., St. Cloud, MN F_~p-5-'"~~ Page 4 089 I. Prosecution and Defense of Claims. Assignor wdl appear ~n and prosecute its claims or defend its title to'the Leases and Rents against any claims that would impair Assignor's interest under this Assignment and, on Lender's request, Assignor will also appear in any acuon or proceedtng on behalf of Lender. Assignor agrees to assign to Lender, as requested by Lender, any right, claims or defenses which Assignor may have against parties who supply labor or materials to improve or maintain the leaseholds subject to the Leases and/or the Property. J. Liability and Indemnification. Lender does not assume or become liable for the Property's maintenance, depreciation, or other losses or damages when Lender acts to manage, protect or preserve the Property, except for losses or damages due to Lender's gross negligence or intentional torts. Otherwise, Assignor will indemnify Lender and hold Lender harmless for all liability, loss or damage that Lender may incur when Lender opts to exercise any of its remedies against any party obligated under the Leases. K. Leasehold Estate. Assignor will not cause or permit the leasehold estate under the Leases to merge with Assignor's reversionary interest, and agrees that the Leases shall remain in full force and effect regardless of any merger of the Assignor's interests and of any merger of the interests of Assignor and any party obligated under the Leases. L. Insolvency. Lender will be the creditor of each tenant and of anyone else obligated under the Leases who is subject to an assignment for the benefit of creditors, an insolvency, a dissolution or a receivership proceeding, or a bankruptcy. 13. DEFAULT. Assignor will be in default if any of the following occur: A. Payments. Assignor fails to makea payment in full when due. B. Insolvency. Assignor makes an assignment for the benefit of creditors or becomes insolvent, either because Assignor's liabilities exceed Assignor's assets or Assignor is unable to pay Assignor's debts as they become due. C. Death or Incompetency. Assignor dies or is declared legally incompetent. D. Failure to Perform. Assignor fails to perform any condition or to keep any promise or covenant of this Assignment. E. Other Documents. A default occurs under the terms of any other transaction document. F. Other Agreements. Assignor is in default on any other debt or agreement Assignor has with Lender, G. Misrepresentation. Assignor makes any verbal or written statement or provides any financial information that is untrue, inaccurate, or conceals a material fact at the time it is made or provided. H. Judgment. Assignor fails to satisfy or appeal any judgment against Assignor. I. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal authority. J. Name Change. Assignor changes Assignor's name or assumes an additional name without notifying Lender before making such a change. K. Property Transfer. Assignor transfers all or a substantial part of Assignor's money or property. This condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the DUE ON SALE section. L. Property Value. The value of the Property declines or is impaired. M. Insecurity. Lender reasonably believes that Lender is insecure. 14. REMEDIES. After Assignor defaults, and after Lender gives any legally required notice and opportunity to cure the de~ault, Lender may at Lender's option do any one or more ol the tollowing. A. Acceleration. Lender may make all or any part of the amount owing by the terms of the Secured Debts immediately due. B. Additional Security. Lender may demand additional security or additional parties to be obligated to pay the. Secured Debts. C. Sources. Lender may use' any and all remedies Lender has under Wyoming or federal law or in any instrument evidencing or pertaining to the Secured Debts. D. Insurance Benefits. Lender may make a claim for any and all insurance benefits or refunds that may be available on Assignor's default. E. Payments Made On Assignor's Behalf. Amounts advanced on Assignor's behalf will be immediately due 'and may be added to the Secured Debts. Fairview Motel Wyoming Assignment of Leases and Rents WY/4XjlochthO0600000003657015121103Y ©1996 Ba,r~..,~tems, Inc., St. Cloud, MN E~.~ InitialZ Page ;.;:;:;;';:,:;..:. 090 F. Rents. Lender may terminate Assignor s right to collect Rents and directly collect and retain Rents in Lender's name without taking possession of the Property and to demand, collect, receive, and sue for the Rents, giving proper receipts and releases. In addition, after deducting all reasonable expenses of collection from any collected and retained Rents, Lender may apply the balance as provided for by the Secured Debts. G. Entry. Lender may enter, take possession, manage and operate all or any part of the Property; make, modify, enforce or cancel or accept the surrender of any Leases; obtain or evict any tenants or licensees; increase or reduce Rents; decorate, clean and make repairs or do any other act or incur any other cost Lender deems proper to protect the ProPerty as fully as Assignor could do. Any funds collected from the operation of the Property may be applied in such order as Lender may deem proper, including, but not limited to, payment of the following: operating expenses, management, brokerage, attorneys' and accountants' fees, the Secured Debts, and toward the maintenance of reserves for repair or replacement. Lender may take such action without regard to the adequacy of the security, with or without any action or proceeding, through any person or agent, or receiver to be appointed by a court, and irrespective of Assignor's possession. The collection and application of the Rents or the entry upon and taking possession of the Property as set out in this section shall not cure or waive any notice of default under the Secured Debts, this Assignment, or invalidate any act pursuant to such notice. The enforcement of such remedy by Lender, once exercised, shall continue for so long as Lender shall elect, notwithstanding that such collection and application of Rents may have cured the original default. H. Waiver. Except as otherwise required by law, by choosing any one or more of these r~medies ou d not give up any other remedy. You do not waive a default if you choose not to use a remedy. By electing not to I - use any remedy, you do not waive your right to later consider the event a default and to use any remedms if the default continues or occurs again. 15. TERM. This Assignment will remain in full force and effect until the Secured Debts are paid orlotherwise discharged and Lender is no longer obligated to advance funds under any loan or credit agreement whic~h is a part of the Secured Debts. If any or all payments of the Secured Debts are subsequently invalidated, declared void or voidable, or set aside and are required to be repaid to a trustee, custodian, receiver ~r~da~t~i iOtcho~rt~ue'itn ful/f°rc~partv~underanv bankruptcy act or other state or federal law, then the Secured Debts will be revived I i ' and effect as if this payment had not been made. 16. CO-SIGNERS., If Assignor signs this Assignment but does not sign the Secured Debts, Assignor dc~es~ so only to assign Assignor s interest in the Property to secure payment of the Secured Debts and Assignor does, not agree to be personally liable on the Secured Debts. If this Assignment secures a guaranty between Lender and, Assignor, Assignor agrees to waive any rights that may prevent Lender from bringing any action or claim against Assignor or any party indebted under the obligation. These rights may include, but are not limited to, any anti-deficiency or one-action laws. , . 17. WAIVERS. Except to the extent prohibited by law, Assignor waives all homestead exemption rights!relating to the Property. 18. FIXTURE FILING. Assignor gives to Lender a security interest in all goods that Assignor owns now or in the future and that are or will become fixtures related to the Property. 19. APPLCABLE LAW. This Assignment is governed by the laws of Wyoming, except to the extent otherwise required by the laws of the jurisdiction where the Property is located, and the United States of America. 20. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS. Each Assignor's obligations under this Assignment are independent of the obligations of any other Assignor. Lender may sue each Assignor individually or together with any other Assignor. Lender may releaseany part of the Property and Assignor will still be obligated under this Assignment for the remaining Property. The duties and benefits of this Assignment will bind and benefit the successors and assigns of Lender and Assignor. 21. AMENDMENT, INTEGRATION AND SEVERABILITY. This Assignment may not be amended or modified by oral agreement. No amendment or modification of this Assignment is effective unless made in writing and executed by Assignor and Lender. This Assignment is the complete and final expression of the agreement. If any provision of this Assignment is unenforceable, then the unenforceable provision will be severed and the remaining provisions will still be enforceable. 22. INTERPRETATION. Whenever used, the singular includes the plural and the plural includes the singular. The section headings are for convenience only and are not to be used to interpret or define the terms of this Assignment. Fairview Motel .Wyoming Assignment of Leases and Rents WY14XjlochlhO0600000003657015121103Y ~1996 Bankers Systems, Inc., St. Cloud, MN Page 091 23. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless otherWise required by law, any notice will be given by delivering it or mailing it by first class mail to the appropriate party's address listed in the DATE AND PARTIES section, or to any other address designated in writing. Notice to one party will be deemed to be notice to all parties. Assignor will inform Lender in writing of any change in Assignor's name, address or other application information. Assignor will provide Lender any financial statements or information Lender requests. All financial statements and information Assignor gives Lender will be correct and complete. Assignor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider necessary to perfect, continue; and preserve Assignor's obligations under this Assignment and to confirm Lender's lien status on any Property. Time is of the essence. SIGNATURES. B,y,~i~ning, Assignor agrees to the terms and covenants contained in this Assignment. also acknowledg/~s ~efieipt of a copy of this Assignment. Vijendra Sundar Lynch{re S. Schrnid Sundar Assignor LENDER: Community First N, aCional Bank (Attest) ACKNOWLEDGMENT. (Individual) ackno'~ledged) thi~J- ~&~ dayof ~~ This instrument was before me undar,and Lynette S. Schmid Sundar, husband &nd wife. ' ~~i, ,sion expires: ~ fi~-O~ ~,~ ~~ , aoo3 This instrument wa,s ackno'Vvled~e?Cbefore me thif~t Mary Lively as ~OOJ~ O ¢¢~,,_ My commission expires: 5¢-U~-O'] \ ~* V~ day of O_~._¢./v~;~ of Community Eirst National Bank. INotar?ublic} , by by Fairview Motel Wyoming Assignment! of Leases and Rents WY/4XjlochthOO600.OO_.Q_O.j~,03657015121103Y ;1996 Bantams, Inc, St. Cloud, MN FJ~.~ ; .., , .; ;.;,: ~: ~ "i.',,,:?,;~;~:,: , Initials Page 7 ALTA COMMITMENT _ 1982 - WY Commitment .No.: FA 11098 M S CtIEDULE C The land referred to in this commitment is situated in the State of Wyoming, County of Lincoln, and is described as follows: . Parcel 1 A portion of Tract 50, T21N Rll6W of the 6th P.M., located within the unplatted portion of the Town of Diamondville, Lincoln County, Wyoming as follows:. Starting at Corner Number 4 of said Tract 50 and running thence South a distance of 1420 feet to a point on the line between Tracts 50 and 52; thence East a distance of 890 feet to a point; thence North a distance of 72.8 feet. to the POINT 'OF BEGINNING; thence North a distance of 218.1 feet; thence East a distance of 134 feet to a-point on the West right-of- way boundary line of Wyoming State Highway U.S. 30 North; thence in a Southeaster, ly direction following the West right-of-way boundary line of said Highway a distance of 220..6 feet; thence West a distance of 169.9 feet to the POINT' OF BEGiNNiNG. Parcel 2 A portion of Tract 50 T21N Rll6W of the.6th P.M, situate within the unplatted portion of the Town of Diamondville. Lincoln County, Wyoming and described as follows: . ' Starting at Corner Number 4 of said Tract 50 and running thence South 1420 feet to a point on the line between Tracts 50 and 52; thence East 890 feet to the POINT OF BEGINNING; thence .South a distance of 45 feet; thence East a distance of 195.9 feet; thence N 13008, W, along the West right-of-way boundary line of Wyoming State Highway U.S. 30 North a distance of 37.7 feet to · P.T. Station 7/73.9; . thence in a Northwesterly direction on a 2© curve followinG the West right_of_way boundary line of said Highway a distance of 82.6 feet; ithence West a distance of 169.9 feet; thence South a distance of 72.8 feet to the POINT OF BEGINNING. Legal Description Continued. ALTA COMMITMENT _ 1982 - WY Commitment No. FA 11098 M SCHEDULE C Continued Parcel 3 A parcel of land being a portion of Tract 50 of [he Resurvey of T21N Rll6W of the 6th P.M., Lincoln County, Wyoming.and being within the unplatted portion of the Town of Diamondvilie, Wyoming, also being a portion of a particular parcel of land described and recorded in Book 505PR on page 372 at the Lincoln County Clerk's Office in Kemmerer, Wyoming; and, being more particularly described as follows: COMMENCING at the Southeast corner of a particular parcel of land as described and recorded in Book 505PR on page 372, on file in the Lincoln County Clerk{s Office in Kemmerer, Wyoming; hereinafter known as the Peternal-Martinez Parcel, where is found a 3" brass cap stamped PLS 164; thence N 90o00,00', W, along the southerly boundary of said Pe'ternal-Martinez'parcel, 42.20 feet to the POINT OF BEGINNING of this description, where is found a 2" Aluminum' cap stamped CCI PE&LS 5465; . thence continuing N 90000,00', W, along 'the southern boundary of said Peternal-Martinez parcel, 92.01 feet to the southwestern corner of said Peternal-Martinez parcel where is-found a Aluminum stamped CCI PLS 5465; thence N 0o10,30', E, along the westerly boundary of'said Peternal- Martinez parcel, 11.31 feet to a point where is found a 2" aluminum cap 'stamped CCI PE&LS 5465; thence S 89022,22" E, 91.97 feet to a point where is found a 2" aluminum cap stamped CCI PE&LS 5465; thence S 0o03,0'0,, E, 10.30 feet to the POINT OF BEGINNING. li/~i