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HomeMy WebLinkAbout2007-10-05-Resolutions 07-210_LA Grant Pkwy Paving - Ashworth to 312th - Development AgrTHE CITY OF WAUKEE,IOWA RESOLUTION 07-210 RESOLUTION APPROVING A DEVELOPERS AGREEMENT AND LIENIMORTGAGE SECURING PROPERTY OWNERS PORTION OF THE COSTS ASSOCIATED WITH THE LA GRANT /V AVENUE IMPROVEMENTS IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE,IOWA WHEREAS,preliminary improvements are being undertaken by the City on LA GrantIV Avenue;AND WHEREAS,the preliminary improvements include grading,street paving,and the installation of tum lanes at the intersections of LA Grant/V Avenue with Ashworth,Dallas County Iowa,in accordance with design specifications approved by the City;AND WHEREAS,the Bruce Carl Snyder,Larry Snyder,Sharon E.Hurst,James C.and Dorothy Hester,Jerry L.and LeAnne Hester,Sherry A.Hester n/kla Sherry A.Telford and Michael Telford (collectively referred to as "Property Owners")are the owners of certain property adjacent to said street whose property will benefit from the improvements which is legally described as: The Northeast Quarter (NE 'I.)of the Southeast Quarter (SE 'I.)and the Southeast Quarter (SE 1/4 )of the Southeast Quarter (SE 1/4)of Section Five,Township Seventy Eight (78)North,Range Twenty Six (26),West of the 5th P.M.,Dallas County,Iowa;AND WHEREAS,in order to assist and induce the City to undertake the improvements Property Owners have agreed to make payment to the City in the amount of $359,910.63 on or before September 1,2017 or upon the sale or transfer of the property,whichever shall first occur,and in consideration of said payment the City agrees to commence the improvements said obligations to be secured by a Developers Agreement and lien/Mortgage securing payment by Property Owners,said agreement is attached hereto as Exhibit A and incorporated herein by this reference. BE IT THEREFORE RESOLVED by the City Council of the City of Waukee on this 5th day of October,2007,that the agreement attached as Exhibit A,submitted by the owners of the property described above,securing their obligation to the City in connection with the V Avenue/LA Grant improvements should be and the same is hereby approved. BE IT FURTHER RESOLVED the City Clerk shall cause the original to be recorded upon the property by submitting the original to the Dallas County Recorder's office with the appropriate recording fees. jAttest: ROLL CALL VOTE AYE NAY ABSENT Donald L.Bailey,Jr.X Isaiah McGee X JeffV.Mertz X Darlene Stanton X Mike Watts X Exhibit A DEVELOPERS AGREEMENT THIS AGREEMENT is made and entered into by and between the City of Waukee,Iowa (hereinafter referred to as the "City"),and the undersigned Property Owners,hereinafter called Property Owners,WITNESSETH: WHEREAS,Property Owners are the owner of tract of real estate legally described in Exhibit A attached hereto (the "Property");and r '.-. WHEREAS,Property Owners are the owners of real property adjacent to the roadway known as LA Grant/V avenue;and WHEREAS,preliminary improvements are being undertaken on the roadway adjacent to said property which will benefit the property;and WHEREAS,the preliminary improvements contemplated hereunder include grading, street paving,and the installation of tum lanes at the intersections of LA Grant/V avenue with Ashworth,Dallas County Iowa,in accordance with design specifications approved by the City, in its sole discretion;and WHEREAS,in order to assist and induce the City to undertake the improvements Property Owners has agreed to make payment to the City in the amount of $359,910.63 on or before September 1,2017 or upon the sale or transfer of the property,whichever shall first occur, and in consideration of said payment the City agrees to commence the improvements;and WHEREAS,Property Owners and the City wish to set forth their agreements with respect to the payment by Property Owners to the City related to said preliminary improvements. NOW,THEREFORE,IT IS AGREED AMONG THE PARTIES HERETO AS FOLLOWS; 1.In consideration of the inducements,representations and payments contemplated pursuant to this agreement,the City of Waukee shall have the right to cause the improvements to be constructed to LA Grant/V Avenue in accordance with such plans and specifications as it shall deem appropriate.The construction of the improvements shall be under the supervision of an engineer to be selected by the City. 2.Property Owners agrees to pay unto the City of Waukee the sum of $359,910.63 dollars on or before September 1,2017,or upon the sale of the property,whichever shall first occur,said payment representing its payment for its agreed upon share of the improvements undertaken by the City as Part of the improvement project anticipated to include grading,street paving and the construction of a tum lane.Said payment shall be due on or before said date and in the event payment is not made unto the City Property Owners shall be considered in default of its obligations herein.Upon default,interest shall accrue at the rate of 2%above the prime rate as per annum on any balances that remain unpaid until all amounts due have been satisfied. 3.Security Interest.Property Owners hereby sell,convey and mortgage unto the City of Waukee,Iowa,and grant a security interest to the City of Waukee,Iowa inthe following described property: a.Land and Buildings.All of Property Owners'right,title and interest in and to the following described real estate sitnated in Dallas County,Iowa (the "Property"); See Exhibit A and all buildings,structures and improvements now standing or at any time hereafter constructed or placed upon the Property (the "Buildings"),including all hereditament, easements,appurtenances,riparian rights,mineral rights,water rights,rights in and to the Property lying in streets,alleys and roads adjoining the Property,estates and other rights and interests now or hereafter belonging to or in any way pertaining to the Property. b.Personal Property.All fixtures and other personal property integrally belonging to,or hereafter becoming an integral part of the Property or Buildings.whether attached or detached,including but not limited to,light fixtures,shades,rods,blinds,Venetian blinds,awnings,storm windows,screens,linoleum,water softeners,automatic heating and air- conditioning equipment and all proceeds,products,increase,issue,accessions,attachments, accessories,parts,additions,repairs.replacements and substitutes of,to,and for the foregoing (the "Personal Property"). 4.Obligations.This Mortgage secures the following (hereinafter collectively referred to as the "Obligations"): a.The obligation of Property Owners established in paragraph 2 herein and any renewals,extensions,modifications or refinancing thereof and any promissory notes issued in substitution therefore;and b.All other obligations of Property Owners to City of Waukee arising hereunder, including,but not limited to,future advances and amounts advanced and expenses incurred by City of Waukee pursuant to this mortgage. 5.Representations and Warranties of Property Owners.Property Owners represent, wan-ant and covenant to City Of Waukee that (i)Property Owners hold clear title to the Property and title in fee simple in the Land;(ii)Property Owners have the right,power and authority to execute this Mortgage and to mortgage,and grant a security interest in the Property;(iii)the Property is free and clear of all liens and encumbrances,except for real estate taxes not yet delinquent and except as otherwise stated in subparagraph lao herein;(iv)Property Owners will warrant and defend title to the Property and the lien and priority of this Mortgage against all claims and demands of all persons,whether now existing or hereafter arising;and (v)all buildings and improvements now or hereafter located on the Land are,or will be,located entirely within the boundaries of the Property. 6.Protection of City Of Waukee's Security.If Property Owners fail to perform any of the covenants and agreements contained in this Mortgage or if any action or proceeding is 2 commenced which affects the Property or the interest of the City of Waukee therein,or the title thereto,then City of Waukee,at City of Waukee's option,may perform such covenants and agreements,defend against or investigate such action or proceeding,and take such other action as City of Waukee deems necessary to protect City of Waukee's interest.Any amounts or expenses disbursed or incurred by City of Waukee with interest thereon at the rate of 18%per annum,shall become an Obligation of Property Owners secured by this Mortgage.Such amounts advanced or disbursed by City of Waukee hereunder shall be immediately due and payable by Property Owners unless Property Owners and City of Waukee agree in writing to other terms of repayment.City of Waukee shall,at its option,be subrogated to the lien of any mortgage or other lien discharged in whole or in part by the Obligations or by City of Waukee under the provisions hereof,and any such subrogation rights shall be additional and cumulative security for this Mortgage.Nothing contained in this paragraph shall require City of Waukee to incur any expense or do any act hereunder,and City of Waukee shall not be liable to Property Owners for any damage or claims arising out of action taken by City of Waukee pursuant to this paragraph. 7.Events of Default.Each of the following occurrences shall constitute an event of default hereunder ("Event of Default"): a.Property Owners shall default in the due observance or performance of or breach its agreement conceming payment of its obligations or shall default in the due observance or performance of or breach any other covenant,condition or agreement on its part to be observed or performed pursuant to the terms ofthis Mortgage. b.Property Owners shall make an assignment for the benefits of its creditors,or a petition shall be filed by or against Property Owners under the United States Bankruptcy Code or Property Owners shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of a material part of its properties or of the Property or shall not,within thirty (30)days after the appointment of a trustee,receiver or liquidator of any material part of its properties or of the Property,have such appointment vacated. c.A judgment,writ or warrant of attachment or execution,or similar process shall be entered and become a lien on or be issued or levied against the Mortgaged Property or any part thereof which is not released,vacated or fully bonded within thirty (30)days after its entry,issue or levy. d.An event of default,however defined,shall occur under any other mortgage, assignment or other security document constituting a lien on the Property or any part thereof. 8.Attorneys'Fees.Property Owners shall pay on demand all costs and expenses incurred by City Of Waukee in enforcing or protecting its rights and remedies hereunder, including,but not limited to,reasonable attorneys'fees,legal expenses and costs. 9.Foreclosure.Upon the occurrence of any Event of Default and at any time thereafter while such Event of Default exists,City Of Waukee may,at its option,after such notice as may be required by law,exercise one or more of the following rights and remedies (and any other rights and remedies available to it): 3 a.City Of Waukee may declare immediately due and payable all Obligations secured by this Mortgage,and the same shall thereupon be immediately due and payable,without further notice or demand. b.City Of Waukee shall have and may exercise with respect to the Personal Property,all the rights and remedies accorded upon default to a secured party under the Iowa Uniform Commercial Code.If notice to Property Owners of intended disposition of such property is required by law in a particular instance,such notice shall be deemed connnercially reasonable if given to Property Owners at least ten (10)days prior to the date of intended disposition. c.City Of Waukee may (and is hereby authorized and empowered to)foreclose this Mortgage in accordance with the law of the State of Iowa,and at any time after the commencement of an action in foreclosure,or during the period of redemption,the court having jurisdiction of the case shall at the request of City Of Waukee appoint a receiver to take immediate possession of the Property and of the Revenues and Income accruing therefrom,and to rent or cultivate the same as he may deem best for the interest of all parties concerned,and such receiver shall be liable to account to Property Owners only for the net profits,after application of rents,issues and profits upon the costs and expenses of the receivership and foreclosure and upon the Obligations. 10.Forbearance not a Waiver,Rights and Remedies Cumulative.No delay by City Of Waukee in exercising any right or remedy provided herein or otherwise afforded by law or equity shall be deemed a waiver of or preclude the exercise of such right or remedy,and no waiver by City Of Waukee of any particular provisions of this Mortgage shall be deemed effective unless in writing signed by City Of Waukee.All such rights and remedies provided for herein or which City Of Waukee or the holder of the Obligations may have otherwise,at law or in equity,shall be distinct,separate and cumulative and may be exercised concurrently, independently or successively in any order whatsoever,and as often as the occasion therefore anses. II.Severability.If any provIsIon hereof is for any reason unenforceable or inapplicable,the other provisions hereof will remain in full force and effect in the same manner as if such unenforceable or inapplicable provisions had never been contained herein. 12.Governing Law.This Agreement shall be governed by and construed 111 accordance with the laws of the State of Iowa. 13.Effective.This Agreement is subject to and contingent upon approval by the Waukee City Council.In the event the Waukee City Council does not approve this agreement, this Agreement shall be null and void. 14.Release of Rights of Dower,Homestead and Distributive Share.Each of the undersigned hereby relinquishes all rights of dower,homestead and distributive share in and to the Property and waives all rights of exemption as to any ofthe Property. 4 15.Recording.This Agreement shall be recorded with the Dallas County,Iowa, Recorder and shall constitute a lien on the property until the recordation of a valid release executed by the Mayor after approval of the City Council by resolution. DATED as of Du1il~1ot:lL1~~<--~~~--"2007 THE CITY OF WAUKEE,lOW A Attest: ,.t .tr~,City Administrator/City Clerk 5 OWNER'S NAME and Spouse: By:,? Bruce Carl Snyder, J Date:![J--Z -,;ZCJt!J'] STATE OF IOWA COUNTY OF DALLAS On this ,;lAd.day of QC-ft:;~v:,2007 before me the undersigned,a Notary Public in and for said State,personally appeared Bruce Snyder,widower,to me known to be the identical person named in and who executed the foregoing instrument and acknowledged that he executed the same as his voluntary act and deed. ~bYLNotaryPubicinandfor said Sta 6 THE IOWA STATE BAR ASSOCIATION I John O.Reich I FOR THE LEGAL EFFECT OF THE USE OF Official Form No.120 THIS FORM,CONSULT YOUR LAWYER /'1""GENERAL POWER OF ATTORNEY=:r.--,___'(.-..-," •.•T f .~...:- !\Jr-J..:t \\.Y 1.Designation of Attorney-in-Fact I,Bruce C.Snyder ,of 3186 V Ave.,Waukee,IA 50263 appoint Lary L Snyder and/or Sharon S.Hurst of 3207 Ashworth Rd.Waukee.IA 50263 and 665 Locust sr.,Waukee,IA 50263 my Attorney-in-Fact.In the event my Attorney-in-Fact is unable to serve for any reason or if my Attorney-in-Fact is currently my spouse and we become legally separated or our marriage is dissolved,I name of ,as successor to my Attorney-ln-Fact.. i hereby revoke any and all general powers of attorney that may have been previously executed by me,but specifically excepting any powers of attorney for health care decisions which I may have previously executed. 2.Powers of Attorney-in-Fact. My Attorney-in-Fact shall have full power and authority to manage and conduct all of my affairs, with full power and authority to exercise or perform any act,power,duty,right or obligation I now have or may hereafter acquire the legal right,power and capacity to exercise or perform.The power and authority of my Attorney-in-Fact shall include,but not be limited to,the power and authority: A.To bUY,acquire,obtain,take or hold possession of any property or property rights and to retain such property,whether income producing or non-income producing; B.To sell,convey,lease,manage,care for,preserve,protect,insure,improve,control,store, transport,maintain,repair,remodel,rebuild and in every way deal in and with any of my property or property rights,now or hereafter owned by me,and to establish and maintain reserves for improvements,upkeep and obsolescence;to eject or remove tenants or other persons and to recover possession of such property.This includes the right to conveyor encumber my homestead legally described as follows: C.To pay my debts;to borrow money,mortgage and grant security interests in property;to complete, extend,modify or renew any obligations,either secured,unsecured,negotiable or non-negotiable,at a rate of interest and upon terms satisfactory to my Attorney-in-Fact;to lend money,either with or without collateral;to extend or secure credit;and to guarantee and insure the performance and payment of obligations of another person or entity; D.To open,maintain or close accounts,brokerage accounts,savings and checking accounts;to purchase,renew or cash certificates of deposit;to conduct any business with any banking or lending institution in regard to any of my accounts or certificates of deposit;to write checks,make deposits, make withdrawals and obtain bank statements,passbooks,drafts,money orders,warrants,certificates or vouchers payable to me by any person or entity,including the United States of America,and expressly including the right to sell or cash U.S.Treasury Securities and Series E,EE,and Hand HH Bonds; E.To have full access to any safety deposit boxes and their contents; F.To pay all city,county,state or federal taxes and to receive appropriate receipts therefore;to prepare,execute,file and obtain from the government income and other tax returns and other governmental reports,applications,requests and documents;to take any appropriate action to minimize,reduce or establish non-liability for taxes;to sue or take appropriate action for refunds of same;to appear for me before the Internal Revenue Service or any other taxing authority in connection with any matter involving federal,state or local taxes in which I may be a party,giving my Attorney-in-Fact full power to do everything necessary to be done and to receive refund checks;to execute waivers of the statute of limitations and to execute closing agreements on my behalf; ©The Iowa stare Bar Assccieuon 2006 120 GENERAL POWER OF A TIORNEY IOWADOCS"RevIsed January 2006 G.To act as proxy,with full power of substitution,at any corporate meeting and to initiate corporate meetings for my benefit as stockholder,in respect to any stocks,stock rights,shares,bonds, debentures or other investments,rights or interests; JH.To invest,re-invest,sell or exchange any assets owned by me and to pay the assessments and charges therefor;to obtain andmaintain life insurance upon my life or upon the life of anyone else;to obtain and maintain any other types of insurance policies;to continue any existing plan of insurance or investment; I.To defend,initiate,prosecute,settie,arbitrate,dismiss or dispose of any lawsuits,administrative hearings,claims,actions,attachments,injunctions,arrests or other proceedings,or otherwise participate in litigation which might affect me; J.To carryon my business or businesses;to begin new businesses;to retain,utilize or increase the capital of any business;to incorporate or operate as a general partnership,limited partnership,sole proprietorship,Limited Liability Company or any other legal entitles of my businesses; K.To employ professional and business assistants of all kinds,including,but not limited to,attorneys, accountants,real estate agents,appraisers,salesmen and agents; L.To apply for benefits and participate in programs offered by any governmental body,administrative agency,person or entity; M.To transfer,assign,convey,and deliver any real or personal property in which I may have or own an interest to the Trustee of any revocable trust created by me,if such trust is in existence at the time, notwithstanding the fact that my Attorney-in-Fact,or his or her spouse,descendants,heirs or assigns, may be the (a)Trustee or successor Trustee of any such trust,(b)beneficiary of any such trust;or (c) holder of any special or general power of appointment created under such trust.Nothing in this paragraph shall be construed to allow my Attorney-in-Fact to create,amend,restate or revoke any such revocabie trust created by me. N.To disclaim any interest in property passing to me from person or entity; O.To make gifts of any of my property or assets to members of my family;and to make gifts to such other persons or religious,educational,scientific,charitable or other nonprofit organizations to whom or to which I have an established pattern of giving;provided,however,that my Attorney-in-Fact may not make gifts of my property to himself or herself.I appoint -r-'_ of as my Attorney-in-Fact solely for the purpose of determining if a gift of my property to the Attorney-in-Fact appointed and acting hereunder is appropriate and to make any such gifts which are appropriate. 3.Construction. This Power of Attorney is to be construed and interpreted as a general power of attorney.The enumeration of specific items,rights,acts or powers shall not limit or restrict the general and all-inclusive powers that I have granted to my Attorney-in-Fact.All references to property or property rights herein shall include all real,personal,tangible,intangible or mixed property.Words and phrases set forth in this Power of Attorney shall be construed as in the singular or plural number and as masculine,feminine or neuter gender according to the context. Any authority granted to my Attorney-in-Fact,however,shall be limited so as to prevent this Power of Attorney (a)from causing my Attorney-in-Fact to be taxed on my income;(b)from causing my estate to be subject to a general power of appointment (as that term is defined by Section 2041, Internal Revenue Code of 1986,as amended)by my Attorney-in-Fact;and (c)from causing my Attorney-in-Fact to have any incidents of ownership (within the meaning of Section 2042 of the Internal Revenue Code of 1986,as amended)with regard to any life insurance policies on the life of my Attorney-in-Fact. 4.Liability of Attorney-in-Fact. My Attorney-in-Fact shall not be liable for any loss sustained through an error of judgment made in good faith,but shall be liable for willful misconduct or breach of good faith in the performance of any of the provisions of this power of attorney.\ j 5.Compensation of Attorney-in-Fact. The Attorney-in-Fact understands that this power of attorney is given without any express or implied promise of compensation to said Attorney-in-Fact.Any services peliormed as my Attorney-in-Fact will be done without compensation,either during my lifetime or upon my death,but the Attorney-in-Fact shall be entitled to reimbursement for all reasonable expenses incurred as a result of carrying out any provisions olthis power of attorney. 6.Accounting by Attorney-in-Fact. My Attorney-in-Fact shall maintain complete and accurate records of all acts peliormed pursuant to this power of attorney,including,without limitation,all receipts and disbursements.Upon my request or the request of any conservator appointed on my behalf or the personal representative of my estate, my Attorney-in-Fact shall allow inspection olthese records and shall provide a complete accounting. 7.Effective Date and Durability. N.B.DELETE INAPPROPRIATE PORTIONS OF THE FOLLOWING PARAGRAPH.IF NO DELETIONS ARE MADE,THE PROVISIONS SET FORTH IN PARAGRAPHS BAND C SHALL BE DEEMED TO HAVE BEEN DELETED. A.This Power of Attorney shall be effective immediately,shall not be affected by my disability, B.TI ds Pe ..er ef Allemey shall beeenle effective upen millen eerlifieatiel I by ffiy physieian tl lat I affi disabled, C.This Power of Nlomey shall besome effective "8ffeelecl by ffiy disability;- and shall continue effective until my death;provided,however,that this Power of Attorney may be revoked by me as to my Attorney-in-Fact at any time by written notice to such Attorney-in-Fact. ,shall I let be- HIPAA and Protected Health Information.If any person's authority under the instrument is dependent upon any determination that I am unable properly to manage my affairs,then any physician attending me or otherwise requested by my Agent to determine my incapacity,and any other person or entity in possession of any of my "protected health information,"as contemplated by the Health Insurance Portability and Accountability Act of 1996 ("HIPAA"),is hereby authorized and directed to disclose my protected health information to my Agent to the extent necessary,and only to the extent necessary,far my Agent to determine whether an event of incapacity has occurred hereunder.Any limitation on protected health information to be disclosed hereunder shall have no effect upon any rights to such information any Agent may have under any Durable Power of Attorney for Health Care or other instrument granting access to such information. Dated ~~''--f'f\-,-,--,-"tk-h9fr'-----'-\'O'-'-~'d..O()-;tat ~---':O,~~~j--..:o~"J..~.~~=-------;;---- AZ<uL 0;:,~4J~.c=Vm1.1Ce c.Snyder (J STATE OF I_O,-W,-,,-,A ,COUNTY OF _0~·~o!:=O~~~.~=:...-.__ This instrument was acknowledged before me on '=1-=-1CU-'--'-=<:y-;""':rtrt.-","'-'O"'--,ADor by Bruce C.Snyder \l 'Th r st~'1'be,- fiJ.LYNN LOYNACHAN ~Commission Number 194114••My COjJ1mlsslonEllplf88w\.~-':l.!A-,y:,-_ J General Power of Attorney THE IOWA STATE BAR ASSOCIATION Official Form No.120 Recorder's Cover Sheet Preparer Information:(Name,address and phone number) John O.Reich Reich Law Film,801 Main St.,Adel,IA 50003,Phone:(SIS)993-4254 Taxpayer Information:(Name and complete address) Return Document To:(Name and complete address) John O.Reich Reich Law Finn,801 Main St.,Adel,IA 50003,Phone:(SIS) 993-4254 Grantors: Bruce C.Snyder Grantees:Lary L.Snyder and/or Sharon S.Hurst Legal description:See Page 2 Document or instrument number of previously recorded documents:I©The Iowa Stale Bar Association 2005 IOWADOCS® OWNER'S NAME and Spouse: ~l\-C-~\\+------By:'-->~_.~ Sharon E.Hurst alkla Sharon E Snyder,_ '~/')(7 /~"By:)j)'i ':...~________ ,~Smitley,Spouse of Sharon E.Hurst a/k/a Sharon E.Snyder Date:_ STATE OF IOWA COUNTY OF DALLAS On thi~~day of (};-IzJ1:;:e r ,2007 before me the undersigned,a Notary Public in and for said State,personally appeared Sharon E.Hurst,single,to me known to be the identical person named in and who executed the foregoing instrument and acknowledged that she executed the same as her voluntary act and deed. ~~~~ Notary Public in and for said State 8 OWNER'S NAME and Spouse: BY:_~--==J~&1"+?"""",=--=C--'-'__~!L=_res c.Hester " J Date:---'c:::;O=+!LL _ STATE OFf(;')W,'\:WY MUAJG-: TCTOrvCOUNTYOF.BA-I-,J:,AS On this .J day of Oc-roI3t,,2007 before me the undersigned,a Notary Public in and for said State,personally appeared James C.Hester and Dorothy Hester, husband and wife,to me known to be the identical person named in and who executed the foregoing instrument and acknowledged that they executed the same as their voluntary act and deed. 9 OWNER'S NAME and Spouse: eAnne Hester,Spouse of Jerry L.Hester Date:r6/o?J/01,J STATE OF IOWA COUNTY OF DALLAS On this 5rc~day of ocJVIt>C V ,2007 before me the undersigned,a Notary Public in and for said State,personally appeared Jerry L.Hester and LeAnne Hester, husband and wife,to me known to be the identical person named in and who executed the foregoing instrument and acknowledged that they executed the same as their voluntary act and deed. ""''.REBECCA D.SCHUEn'f:i Commission Number 716496••My Commission Expires ••May 13,2008 '1kUw j.2Uw.cl-- Notary Public in and for said State 10 Sherry A.Hester n/k/a Sherry A.Telford ffi~-By:::~~~--=:~~~"5L~ Michael Telford,Spou Date:/0/-<1/0 '7 STATE OF IOWA COUNTY OF DALLAS On this.J-/<Lr>day of ([!)cJry~,2007 before me the undersigned,a Notary Public in and for said State,personally appeared Sherry A.Hester n/k/a Sherry A.Telford and Michael Telford,husband and wife,to me known to be the identical person named in and who executed the foregoing instrument and acknowledged that they executed the same as their voluntary act and deed. ~~\~--\~- Notary Public in and for said State ~ .~AUCE TOWNSEND~!"Commission Number 743525 My Commission Expires ow October 20,2009 11 EXHIBIT A -LEGAL DESCRIPTION The Northeast Quarter (NE Y.)ofthe Southeast Quarter (SE Y.)and the Southeast Quarter (SE 1/4)of the Southeast Quarter (SE 1/4)of Section Five,Township Seventy Eight (78)North, Range Twenty Six (26),West of the s"P.M.,Dallas County,Iowa.