In re Raejean S. Bonham dba World Plus
Bankruptcy No. F95-00897
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THE FOLLOWING STIPULATION HAS BEEN SUBMITTED TO THE COURT FOR APPROVAL. Please note that if you object to the approval of this stipulation by the Court you must object in writing on or before the 3rd day of April, 1997. Your written objection is to be filed with the Clerk of the Bankruptcy Court at 101 12th Avenue, Box 1, Fairbanks, Alaska 99701, and a copy served on Guess & Rudd on or before said date. Please see the accompanying Motion and Memorandum for Approval.

 

STIPULATED SETTLEMENT AGREEMENT

Defendants ALLEN DALE CARTWRIGHT ("Cartwright"), appearing without counsel, and MARIA CARTWRIGHT, a/k/a MARIA CAPORICCI ("Caporicci"), appearing without counsel, and the plaintiff, LARRY D. COMPTON ("the Trustee"), individually and by and through his attorneys, Guess & Rudd, agree and stipulate that:

1. Cartwright is the person named as Lessor under the Residential Lease with Option to Purchase dated May 18, 1989 ("the Lease"). A true and correct copy of the Lease is attached to this agreement as Exhibit A. The Lease affects the following real property and improvements to real property:

That portion of patented placer mining claim known as Bench Claim, 2nd Tier left limit opposite No. 12 Below discovery on Goldstream and Bench Claim on left limit 2nd Tier back from Creek claim No. 13 below discovery on Gold Stream placer mining claims designated by the Surveyor General as Survey No. 803, being more particularly described in that certain patent from United States of America to M.R. Boyd dated March 22, 1915 and recorded January 17, 1917 as follows:

BEGINNING at the U.S. Mineral Survey Corner No. 1 (which is North 10°43' East a distance of 798.5 feet from the Quarter corner common to Section 6, Township 1 North, Range 1 East and Section 31, Township 2 North, Range 1 East) and proceeding South 36°39' West 613.2 feet, thence South 37°02'20" East 614.70 feet; thence South 35°33' West 378.09 feet to the true point of beginning; thence North 39°39' West 208.71 feet; thence South 35°33' West 208.71 feet to a point on the claim line between U.S. Mineral Survey Corners No. 2 and No. 3 of said claim; thence South 39°39' East 208.71 feet to U.S. Mineral Survey Corner No. 3 of said claim; thence North 35°33' East 208.71 feet to the true point of beginning.

EXCEPTING Therefrom any veins or lodes or lodes of quartz or other rock in place bearing gold, silver, cinnabar, lead, tin, copper or other valuable deposits within the land above-described which may have been discovered or known to exist prior to February 27, 1913.

This property and improvements to property are referred to in this agreement as "the Property." Cartwright agrees that the United States Bankruptcy Court for the District of Alaska has subject matter jurisdiction of this proceeding and personal jurisdiction of him.

2. Caporicci has an interest in the Property under a Statutory Warranty Deed dated April 1, 1988, recorded April 1, 1988 at Book 565, Page 938, Records of the Fairbanks Recording District, Fourth Judicial District, State of Alaska, from Cartwright as Grantor to Cartwright and Caporicci as Grantees. A true and correct copy of the Statutory Warranty Deed is attached to this agreement as Exhibit B. Caporicci agrees that the United States Bankruptcy Court for the District of Alaska has subject matter jurisdiction of this proceeding and personal jurisdiction of her.

3. The Trustee has an interest in the Property as successor in interest to debtor Raejean S. Bonham ("Bonham"), a person named as a Lessee in the Lease.

4. Caporicci agrees to place into escrow, under the conditions set out in this agreement, an executed quitclaim deed conveying her right, title and interest in the Property to Cartwright. A copy of the unexecuted quitclaim deed is attached to this agreement as Exhibit C.

5. Cartwright agrees to place into escrow, under the conditions set out in this agreement, an executed statutory warranty deed conveying his right, title and interest in the Property to Compton. A copy of the unexecuted Statutory Warranty Deed is attached to this agreement as Exhibit D.

6. The parties agree that the original, executed quitclaim deed and the original, executed statutory warranty deed will be held in escrow at Yukon Title Company pending payment by Compton of the monies described below.

7. Compton agrees that the original, executed quitclaim deed and the original, executed statutory warranty deed may not be released from escrow and recorded except upon

(a) the payment by Compton or his agent of the sum of One Thousand and 00/100 Dollars ($1,000.00) each to Cartwright and Caporicci. Payment to them shall be made by check issued to them individually, delivered directly to Caporicci and to Cartwright through his attorney at his address of record;

(b) Compton's payment of the attorneys' fees and costs of Cartwright to Robert J. Ericsson of Ericsson Ridgeway in the maximum amount of $1,750.00; and

(c) the release, by payment or express contract, of Cartwright from the note and deed of trust dated August 7, 1978, recorded September 15, 1978 at Book 122, Page 768, Records of the Fairbanks Recording District, Fourth Judicial District, State of Alaska, originally between Larry E. Wegner and Joyce C. Wegner, Trustors, TransAmerica Title Insurance Co. as Trustee, and Security Pacific Mortgage Corporation as Beneficiary. Compton and Cartwright agree that assumption of the Deed of Trust, without release of Cartwright, will not meet the requirements of this subsection.

8. The parties agree that the escrow of the original, executed quitclaim deed and the original, executed statutory warranty deed shall have a term of two (2) years, commencing upon the date on which the escrow is opened by the tender to Yukon Title Company of the original instruments. If at the end of the term the escrow payment as described in Paragraph 7 has not been made, then the original, executed quitclaim deed and the original, executed statutory warranty deed shall be returned to Caporicci and Cartwright, respectively.

9. Compton will bear all other expenses associated with the creation of the escrow, except as provided elsewhere in this Stipulation.

10. If, through actions of Caporicci, liens, encumbrances or clouds to the title of the Property arise which are not now of record, Caporicci shall bear all expenses associated with the discharge and removal of those liens, encumbrances or clouds and if, after notice to Caporicci, she fails to remove those liens, encumbrances or clouds, Compton will be entitled to offset the actual costs of removing those lien, encumbrances or clouds from title to the Property against the monies otherwise due to Caporicci under Section 7(a).

11. If, through actions of Cartwright, liens, encumbrances or clouds to the title of the Property arise which are not now of record, Cartwright shall bear all expenses associated with the discharge and removal of those liens, encumbrances or clouds and if, after notice to Cartwright, he fails to remove those liens, encumbrances or clouds, Compton will be entitled to offset the actual costs of removing those lien, encumbrances or clouds from title to the Property against the monies otherwise due to Cartwright under Section 7(a).

12. The parties to this agreement also agree:

(a) Except as provided in Section 7(b), each party shall bear its own costs and attorneys' fees incurred in this proceeding.

(b) Nothing contained in this agreement is an admission by any party, and nothing contained in this agreement shall be admissible for any purpose except to enforce the agreement according to its terms.

(c) This agreement shall be without force and effect until it is approved by the United States Bankruptcy Court for the District of Alaska.

(d) This agreement is a full, final and complete settlement of the claims of Compton against Cartwright and Caporicci described in the Complaint, and the claims, if any, of Caporicci or Cartwright against Compton, whether or not plead.

13. The United States Bankruptcy Court for the District of Alaska should not dismiss Caporicci or Cartwright as parties to this case until the escrow created under this agreement has been closed.

/s/ ALLEN DALE CARTWRIGHT

/s/ MARIA CAPORICCI, formerly known as
Maria Cartwright

GUESS & RUDD
Attorneys for Larry D. Compton

/s/ James D. DeWitt

/s/ LARRY D. COMPTON


STATUTORY QUITCLAIM DEED

The Grantor,

MARIA CAPORICCI, formerly known as

Maria Cartwright

Address: 2600 SE Freeman Way, #15

Milwaukee, Oregon 97222

for and in consideration of the sum of Ten Dollars ($10.00) and other good and sufficient consideration, receipt of which is acknowledged, conveys and quitclaims to the Grantee

ALLEN DALE CARTWRIGHT

Address: 2625 SE Jefferson

Clackamas, Oregon 97015

all right, title and interest, if any, of the Grantor to the real property and improvements to real property located in the Fairbanks Recording District, Fourth Judicial District, State of Alaska, described as:

That portion of patented placer mining claim known as Bench Claim, 2nd Tier left limit opposite No. 12 Below discovery on Goldstream and Bench Claim on left limit 2nd Tier back from Creek claim No. 13 below discovery on Gold Stream placer mining claims designated by the Surveyor General as Survey No. 803, being more particularly described in that certain patent from United States of America to M.R. Boyd dated March 22, 1915 and recorded January 17, 1917 as follows:

BEGINNING at the U.S. Mineral Survey Corner No. 1 (which is North 10°43' East a distance of 798.5 feet from the Quarter corner common to Section 6, Township 1 North, Range 1 East and Section 31, Township 2 North, Range 1 East) and proceeding South 36°39' West 613.2 feet, thence South 37°02'20" East 614.70 feet; thence South 35°33' West 378.09 feet to the true point of beginning; thence North 39°39' West 208.71 feet; thence South 35°33' West 208.71 feet to a point on the claim line between U.S. Mineral Survey Corners No. 2 and No. 3 of said claim; thence South 39°39' East 208.71 feet to U.S. Mineral Survey Corner No. 3 of said claim; thence North 35°33' East 208.71 feet to the true point of beginning.

EXCEPTING Therefrom any veins or lodes or lodes of quartz or other rock in place bearing gold, silver, cinnabar, lead, tin, copper or other valuable deposits within the land above-described which may have been discovered or known to exist prior to February 27, 1913.

DATED at ___________, Oregon this ____ day of February, 1997.


 

/s/ MARIA CAPORICCI, formerly known as
Maria Cartwright

STATE OF OREGON
COUNTY OF CLACKAMAS

THIS IS TO CERTIFY that the foregoing instrument was acknowledged before me this _____ day of February, 1997, by MARIA CAPORICCI.

______________________________
Notary Public for Oregon
My commission expires ________


STATUTORY WARRANTY DEED

The Grantor,

ALLEN DALE CARTWRIGHT

Address: 2625 SE Jefferson

Clackamas, Oregon 97015

for and in consideration of the sum of Ten Dollars ($10.00) and other good and sufficient consideration, receipt of which is acknowledged, conveys and warrants to the Grantee

LARRY D. COMPTON, Trustee

Office Of The Trustee

400 D Street, Suite 210

Anchorage, Alaska 99501

the real property and improvements to real property located in the Fairbanks Recording District, Fourth Judicial District, State of Alaska, described as:

That portion of patented placer mining claim known as Bench Claim, 2nd Tier left limit opposite No. 12 Below discovery on Goldstream and Bench Claim on left limit 2nd Tier back from Creek claim No. 13 below discovery on Gold Stream placer mining claims designated by the Surveyor General as Survey No. 803, being more particularly described in that certain patent from United States of America to M.R. Boyd dated March 22, 1915 and recorded January 17, 1917 as follows:

BEGINNING at the U.S. Mineral Survey Corner No. 1 (which is North 10°43' East a distance of 798.5 feet from the Quarter corner common to Section 6, Township 1 North, Range 1 East and Section 31, Township 2 North, Range 1 East) and proceeding South 36°39' West 613.2 feet, thence South 37°02'20" East 614.70 feet; thence South 35°33' West 378.09 feet to the true point of beginning; thence North 39°39' West 208.71 feet; thence South 35°33' West 208.71 feet to a point on the claim line between U.S. Mineral Survey Corners No. 2 and No. 3 of said claim; thence South 39°39' East 208.71 feet to U.S. Mineral Survey Corner No. 3 of said claim; thence North 35°33' East 208.71 feet to the true point of beginning.

EXCEPTING Therefrom any veins or lodes or lodes of quartz or other rock in place bearing gold, silver, cinnabar, lead, tin, copper or other valuable deposits within the land above-described which may have been discovered or known to exist prior to February 27, 1913.

SUBJECT, HOWEVER, to that certain deed of trust dated August 7, 1978, recorded September 15, 1978 at Book 122, Page 768, Records of the Fairbanks Recording District, Fourth Judicial District, State of Alaska, AND

SUBJECT to the right, title and interest of STEVEN A. BONHAM and RAEJEAN S. BONHAM, if any; AND

SUBJECT to easements and restrictions presently of record.

DATED at ___________, Oregon this ____ day of February, 1997.

/s/ ALLEN DALE CARTWRIGHT

STATE OF OREGON
COUNTY OF CLACKAMAS

THIS IS TO CERTIFY that the foregoing instrument was acknowledged before me this _____ day of February, 1997, by ALLEN DALE CARTWRIGHT.

______________________________
Notary Public for Oregon
My commission expires ________

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