HomeMy WebLinkAbout896618After Recording Return to ·
Bank of Star Valley
P.O. Box 8007
Afton, Wy 83110
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8 )6618
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ASSUMPTION AGREEMENT
(with recourse)
,. Boo :546 PR v,m 981
WHEREAS, Bank of Star Valley, a Wyoming Banking Corporation, hereinafter referred
to as "Lender", loaned to Buffalo West Holding, Inc., a Wyoming Corporation and
Buffalo West, h~c., a Wyoming Corporation, d/b/a Alpine Standard, and as of December
31, 2003, Bu~!q.~es[.H.o!ding LLC, jointly and severally, hereinafter referred to as
"Borrower(s)", whether one or more, the sum of Seventy Six thousand one hundred
twenty four & no/100's Dollars, (76,124.00), as evidenced by note, security agreement
and mortgage dated August 7, 2001. The mortgage was recorded August 13th, 2001,in
Book 470 at Page 482 document # 875207 of the Public Records of Lincoln County,
Wyoming. The Security Agreement was recorded August 10, 2001 as filing number
0122216 la01, with the Wyoming Secretary of State. And said note and mortgage are
personally guaranteed by Cheri C. Harriet, Thomas S. Harriet, and Rosalind J. Harriet,
jointly and severally, hereinafter referred to as guarantor(s). And Timothy R. Trefren, Jr.
is hereinafter referred to as Purchaser(s).'
WHEREAS, said Borrower(s) has/have sold said property to the undersigned
Purchaser(s) and said Purchaser(s) desired to assume and agree to pay said indebtedness
and perform all the obligations of Borrower(s), and said Borrower(s) WILL NOTBE
RELEASED from said obligations, and Lender is willing to accept said assumption with
Lender having full recourse WITHOUT release of obligation to Borrower(s).
THEREFORE, for and in consideration of the premises and other good and valuable
consideration, the undersigned Purchaser(s) hereby assume and agree to pay the
indebtedness evidenced by said note and mortgage and perform all of the obligations and
honor' all covenants therein, it being agreed and understand that as of this date said
indebtedness is Sixty Six Thousand one hundred seventy eight and 98/100's Dollars
($66178.89) [which includes the combined principal of $66,007:18 plus accrued interest
of $171.80], and that the interest rate shall be 5.0 % variable per annum, and that the
monthly payments are $583.80shall be made beginning the 6th day of February, 2004.
and shall be applied first toward accrued interest and penalties then toward principal,
other provisions as follows:
Interest rate, payment provisions and all other terms and conditions are further defined
presented in original documents and any modifications thereof, of which a copy has been
made available to Purchaser(s) and an Assumption Fee of $150 paid by Purchaser
and that in all other aspects of all terms and conditions of said note shall remain in full
force and effect, and Lender DOES NOT release or discharge said Borrower(s), NOR
does it release or discharge Guarantor(s) of said Borrower(s), upon their personal
obligation upon said indebtedness.
This assumption by said Purchaser(s) and Borrower(s), if more than one, is joint and
several and shall bind them, their heirs, personal representatives successors and assigns.
In Witness Whereof, the parties have hereto executed this instrument, this .~/~.~-~ day of
_~ ,2005. '
SIGNATURES
As Purchaser(s)
'-Ti{m~Ny ROFrefren, Jr.
Actual authority was granted to the Borrower(s) below by resolution signed and
dated /9../.~//~ ~ .
As Borrower(s)
Buffalo West Holding, Inc. - A Wyoming Close Corporation
Cheri C. Harriet President
Rosalind J. Harriet - S~tetary / Treasurer
Buffalo West, Inc. -A Wyoming Close Corporation
Cheri C. Harriet- President
Thomas S. Harriet- Vice President
Rosalind J Harriet - e~retary / Treasurer
083
Buffalo West Holding, LLC - A Wyoming Limited Liability Company
Cheri C. Harriet- Member
!~ff'~'- ~~-T/h~a~ S. Harriet- lv~a[~g~-n-gQ ~'~--ta '~~V~ember
os~tlind J. Harriet- M~3)4ber ' . ~-
As Guarantor(s)
As Lender,.
Cheri C. Harriet - an individual
~o~nd ~ Hamet- ~ i~viddaf
Steven A. Hartwell, Vice President
ACKNOWLEDGEMENT:
Acknowledgement of Individual - Purchaser(s)
ST ATE OF
COUNTY OF
The foregoing instrument was acknowledged bqfore me this.
by Timothy R. Trefren, Jr. , eurchas/~). // ////,//day
WitneSs mYhand and °fficial seal /~ot~ry ~/ub~lic ~: in ~('~b''''' ' '
t~ut~ b~flthe State of Wyoming
.il i.~i:21 ..... >: :.:::::,:::
Aclmowledgement of h~dividual- Guarantor(s)
STATE OF
COUNTY O1
Th.e foregoing instrument was acknowledged before me this ,~_.~/~ff day of
~ , by Cheri C. Harriet, Thomas S. HarfietJand Rosalin0,-jT-~niiet, GUarantor(s)
~' ~gsm hand andofficialsea1 ~ /~"~ '7~/~ '
'! ~~ N°tar3 P/ablic in an f°r t~e State °f Wy°ming
Acknowledgement of CorpOrate Borrower(s)
STATE OF
COUNTY OF
The foregoing instrument was acknowledged before me this day ot,.,,~. , Dy
Cheri C. Harriet - President, Thomas S. Harriet, Vice President, and Rosalind J. Harriet,
Secretary / Treasurer of Buffalo West Holding, h~e. and Buffalo West, h~c. both
WYoming Close Corporations, Borrower(s)] / · , /
~and and official seal Z~... ' /~d-' C/~//L
M. KEWN VOYt~S - NOT^~Y PUBliC } Notary P/hblic in and fo~ tge State of Wyoming
.. _Lincol~ Wyoming ~ ·
My Co~ Expires July 16, 2007 ~ ·
Aclmowledgement of £imited Liability Company Borrower(s)
COUNTY
The foregoing instrument was acknowledged before me this.~/Z'* day otJda~.., by
Cheri C. Harriet, member; Thomas S. Harriet managing member, Rosalind'J. Harriet,
member of Buffalo West Holding LLC, a Wy pming Limited Liability Company,
.BOrrower(s). //~
Witness my han4and official seal -,
Notar
~ P~n State of Wyoming
985
Acb~owledgement of Lender
STATE OF
COUNTY O13
The foregoing, instrument was acknowledged before me this ,~4~-''~ day of
by ST~_~v /4./]4r2r~vatdc duly authorize~to act on behalf of the Bank~-
Va~-- ~5 /, , ///
Witness rny hand and official seal /~4_. /~x, --~
/f',lotary Pfbli~ in and for t~tate of Wyoming