Site A-4 Lease Assignment/City to Executive Travel AssetsThat If we, EXECUTrvE T7 RAA'S M ASMTs, LL(! ('' wr"), of Dion, Mr, fbr goad ar vahiable
co nsi aratian romved dds date, booby assign over to 9w MIlTTII = C OD1T UNION {4Awit3 "X a Montane.
CM& Union with *ir djW address at P.Q. Box 37, '4 hbefW MT 39937, all of our rigid, We and iumfost in and to
that ordain Lease for fatal pr'opo* dsscar9W as Endows:
m CtfY OFK.AWRPEU-KALWS L CITY AMPORT
a=fhweet Sumter Rams 2JW,
P.M.M., .i+lfathead Cau*, Montana,
LZAS$ RPI+`RC'1'WX DATE 8-314W dad
• KaUgwJt C W Abport HaAW Ste LemA-2, hnpravememt Na.16.8t's located on 3'r 3A in the
sauthanssvt tparrter•gf `the North�ves# Quarter of5'�Ctton a0, Tbwn�ilp �gN, Range �X g;
PJV.M, Madead Couro, Montana
LRASS li FIVIL'TWX DAM 12-30 2004.
It is WWREMLY NO T13D that this amigmmaof is NOT ansde fbr the purpose of providing collateral,
soaurity far any debt and this meat is a complete disposition of Assignor's right, We and interest in said Lease
land ffie propoaty hwmveno m located thereon.
TO HAVE AND TO HOLD the ssrne unto the Asstgneo„ ad to its sucxea, m and assigns, ftow
AFFECTC'VE DATE: SWMMB[i. 22, 2011.
Clrantor; . k1XSCUTTVE TRAVEL A ,
2
By:
ate^'
STATE OF . / iy`t : COUNTY
This hm urnw was aaknowWged before wo on the day of A-Z 20.!..r by
bt—tw1 Lc A M tJ f k as ofErreaube Tavel Asset, LLC.
VlCiCI ANuE�8EN
spa NOTARY PU3LIG for the
wle of Montana PrIW—*d New' c
(SEAL SEAL i�idrKi at tlilOn, iytnnteata Nataty Pu'b& far the State Of
Mr Commmw Ex Residing in
5eptember 16, 2aIG My commission f xpires. --r
(BY (AS:
Whitefish Credit Union
FU BOX 37 N ��uptpru npt�� tp���I uwu�
WI4te1f9i1, MT:�9�%37 IRE
j[j III
(�IDIOM
I�K(U dig �nfiti�{ ptl Iiil�l11g14 Aapn ? 2 i33g62
•"uta nnAinaert Ftathaad f 011mv 14T My or 1n/ithVi i "HOW
Y7
Space Abm ibis Line is For Recorder's Use 0iNy
DEED IN LIEU OF MUCLOM
(Loan No. ###259.705 and 707)
For, and in consideration of the covenants herein provided, Executive Travel Assets, LLC ("Gtantor(s)"), of Dillon,
MT, hereby grants, bargains, sells and conveys to the WhitoPsh Cn:dit Union ("Grantee"), of Whitefish, MT, all its
q right, title, interest, clalm and demand in and to the following described real property, TOGMER with any
improvements, structures and all appurtenances thereto belonging or in any way appertaining, located in the County
of Flathead, State of Montana, and more particularly described as follows:
• Kalispell City Airport Hangar Site Lease A4. Improyeatent No.1957, located vtt Tr 3A in the southwai quarter
of the Newhwest Quarter of Sect#on 29 Township 28N, Range 21 W, P M. M, Flathead County, Montana. and
• KallspeU City Airport Hangar Site LeaseA•2, Improvement No. 1626, located on Tr 3A ilr the southwrtrt quarter
of the Northm at Quarter of Section 20, Township 28N, Range 21 W,1? M.M., Flathead County, Montana
Subject to and Together whit current encumbrances, easements, reservallow and reslriedeml<s, apparent or of
record.
TO HAVE AND TO HOLD unit) the Grantee and to the Grar>Z Ws successors and assigns, forover.
This Deed is an absolute conveyance of title, in effeti as well as in form, and is not intended as a mortgage, trust
conveyance, or security of any kind. The consideration for this Deed is the release by Whitefish Credit Union of all
of the debts and obligations heretofore existing on account of and secured by those Commercial Security
Agreements in favor of Grantee on that real property described above.
DATED this,,, day of 20JL-
9Q]R: EXECUTIVE TRAVEL S ETs
X
Manager/Man4rig Member
STATEOF^C' COUNTY 94 (:1�A�,
This instrtimcnt was acknowledged before me on thee3,_ uday of 20 Li, by
as Managing Member of Executive Travel Assets, LLC.
r
(S MA�WTjrp 1cforiltt Nchs blic for the State ofgtdo ofResiding in
te mkV at SornErs. t My Commission 8xplrus
MY Com EXPM
AFTER R5QR 'INU PLEASE RL"TURN 1U:
Whitefish Credit Union
PO BOX 37
Whitefish, MT 59937
soa toao:osea
Paget I1ilU,l� kaht"46" Pfnl "d Cm+nMN
1v T bw C 14016A � 4:Q13 OM
Ns' f+t� 00
:mace Above this Mac Is For kworde► s Use OAk
1100PPEL AFFti)AVl'T
STA'I`E OFi}�tr)
ss,
kn County of /'�lrrfl""/t'tG. �Q l
C1
being first duly sworn upon oath, depose and say as follows:
1. WcA, Executive "Travel Asso-ts, LLC, arelam the identical party who made, executed and delivered to Whitefish
Credit Union that certain Special Warranty Heed in IJou in Foreclosure conveying the following described real
property situated in Flathead County, Montana:
+� Kalispell City Airport Hangar Site Lease A-4, Improvement No. 19,57, located on Tr 3A in the
�. southwest quarter of the Northwest Quarter of Section 20, 7oymship 28N, Range 21 W,1W.M., Flathead
"�- County, Montana; and
Kalispell City Airport Hangar Ship Lease A.2, Irnproi emetu No.1626, located on Tr 3A in the
sautbwesr quarter of the Northwest Quarter of Section 20, Pownship 28N, Range 21 W, AM.M., Flathead
County, Montana
Subject to and Together with current encumbrances; eawments, res-ervadons and restrictions,
apparent or of record.
2. The Dead in Lieu of Foreclosure was and is an ahsoluic amveyanco of the title to the property to the Grantee
named therein in effect, as well as in form, and is not now intended to be a dead of trust, mortgage, security
agreement, or rather security device or any kind,
3. Possession of the property has been surrendered to the Grantees named in the peed in Lieu of Foreclosure:.
4. 'Ma consideration for the Deed its Lieu of Foreclosure was and is the full cancellation of all the debts,
obligations, costs and charges previously existing under and by virtue of the following described Loans)
dtv"metns:
+ Whitefish Credit Union loan No. ###259-705: Promistkiry Notes) dated 03-29-2006 by and betwocn T&L
Properties, LLP and the Whitefish Credit Union in the principal amount of $380,000 USD, a Commercial
Security Agreement dated 03-29-2006; and
+ Whitefish Credit Union Loan No. #02594W: Promissory Note(s) dated 06-01-2007 by and between T&L
Properties, LLP and the Whitefish Credit Union in the principal amount of $ 499,5W USD, a Commercial
Security Agreemont dated 06-01-2W7, which was tncraorialk ed by the filing of that Uniform Commercial
Code Financing Statement with the Montana Secretary of State under Filing No. 92387978.
5. The Deed in Lieu of Forerclosure: was made by me as the result of my roquext that the Grantee accept such Deed
and was my free and voluntary act. At the time the Used was given to the Grantee, I felt and I still feel that the
indebtedness ahove-mentioned represented a fair value: of the property so deeded.
1
201120463
Paus.2 or I
rnraAlti VIA M
6. At the time the geed in Lieu of Foreclosure was given, there were no other persons, firms or corporation, other
than the Grantee named therein, interested either directly or Indirectly in the property described in the Deed in
Lieu of Foreclosure.
7. The Deed in Lieu of Foreclosure was not given as it preference against any other of our creditors. We are
solvent and we have no other creditors whose rights would be prejudiced by such conveyance. We are not
obliged upon any bonds or other obligations or deed of trust whereby any lien has been created or exists against
the premises described in the Deed in Lleu of Foreclosure.
S, to offering to execute the Deed in Lieu of Foreclosure to the Granted and In executing the some, we are not
acting under any misapprehension as to the effect thereof, nor under any duress, undue influence or
misrepresentation by the Grantee or the agent or attorney of the Grantee. We were advised to consult and had an
opportunity to consult with independent legal counsel prior to executing and delivering the Deed in Lieu of
Foreclosure.
9. it was and is our intention as Grantor(s) to convey, and by the Deed in .Lieu of Foreclosure we did convey, to
the Grantee named therein all of the right, title and interest absolutely in and to the property described In said
Deed.
10. This Affidavit is made for the protection and benefit of the Grantee in the Deed in Lieu of Foreclosure, its
successors and assigns, the title insurance company who may insure the property, and all other parties hereafter
dealing with or who may aquire an interest in the property described therein, and this Affidavit shall be
f binding upon the respective heirs, executors, administrators, and assigns of the undersigned.
11. The Grantee proposes and the Grantors) agrees that the Grantee shall retain the real estate described above in
full satisfaction of the obligation evidenced by the Promissory Note described above. The undersigned
renounce any rights of redemption or those rights they may possess under the Uniform Commercial Code, and
the undersigned further agree that the Grantee may hold or dispose of the collateral described herein free of any
rights that the undersigned may possess under the Uniform Commercial Code.
i
12. 1 hereby release, waive, discharge and covenant not to sue Whitefish Credit Union, its officers, servants, agents
and employees ("collectively the "releasees") from any and all liability, claims, demands, actions and causes of
action whatsoever arising out of or relating to any loss, damage or injury, that may be sustained by me or my
heirs, successors and assigns, or to any property belonging to me, whether caused by the negligence of the
releasecs, or otherwise, stemming from the Dead In Lieu of Foreclosure or any actions taken by the releasees
either before or after the recordation of the same.
f 13. 1 further hereby agree to indemnify, save and hold harmless the mleasees and each of them, from any loss,
liability, damage or costs they may Incur due to actions taken before my execution of the Deed in Lieu of
Foreclosure or my execution of the Deed In Lieu of Foreclosure, whether caused by the negligence of any or all
of the releasces, or otherwise.
OWCUTIVE TRAVEL ASSETS, LLC
Managor/Managing Member
SUBSCRIBED AND SWORN TO this day 64� 201L.
r . Trt Tri`
r.
wjaso��
P hied e: MA
Public for the State of rv\-r
Residing at: SavvAWI
My Commission Expires:
BILL OF SALE
THIS BILL OF SALE is from EXECUTIVE TRAVEL ASSETS, LLC (-Grantor"). to WMTB nSH
CREDIT UNIOW ("Grantees'),
WITNESmR. That the Grantor, thr and in consideration of the sum of TEN DOLLARS ($lo.00) and
other good and valuable consideration, the teoeipt of which is hereby acknowledged, does hereby sell, Iransfeur, set
over and assign. unto the Grantee and bathe GnvoWs heirs and assigns, forever, all its right, title, interest, Clain and
demand in and to die following:
• Kalispell City Airport Hangar Site Lease A-4, ImprovementNo.1957, located on Tr 3A to the southwest quarter
of the Northwest Quartsr of Section 20, Towmlhlp 28N, Range 21 W, P.M.U, .1±Whead County, Montana; and
• Kdlspell City Abport Hangar -Site Leave A-2, Improvement No.1626, located on Tr 3.4 in the southwest quarter
of tine Northwest Quarter of Section 20, Township 28N, Range 21 W,, AMR, Mathead County, Montana
Grantor:
TO HAVE AND T HOLD the some unto the Grantee, and to the OranteOs heirs and assigns, Auvvw.
DATED y 0# 20
f3XBaMVB TRAVW�SSETS,
STATE OF d ; COUNTY OF 4a
inshvment . was acknowledged before m
as Managing Member of Bxecu#iv
s
on tin % of `� 20 by
ravelAs LLC.
Printed ame���•
0 V, pyg Notary Public the Staba o
+WAL 0 forVIS Residing in
401 to my C ormission Evir'W L
,
I
•
0