HomeMy WebLinkAbout914353
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Drafted by:
Wells Fargo Home Mortgage, Inc.
2701 Wells Fargo Way
Minneapolis, Minnesota 55467
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RECEIVED 12/9/2005 at 1:46 PM
RECEIVING # 914353
BOOK: 607 PAGE: 286
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Space above line for recording purposes.
6506501978780199
SUBORDINATION AGRIŒMENT
NOTICE: This subordination agreement results in your secudty interest in the property becoming subject to alII! of lower priority
than the lien of some other ol'later security instrument
This Agreement is made this 10TH day of SEPTEMBER 2005, by and between Wells
Fargo Bank, N.A. a national bank with its headquarters located at 420 ,MONTGOMERY
STREET, SAN FRANCISCO, CA (herein called "Lien Holder"), and 'VeIls Fargo Bank,
N.A., with its main office located in the State of Iowa (herein called the "Lender").
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RECIT ALS
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Lien Holder is the beneficiary/mOligagee under a deed of trust/mortgage, dated 01/13/2004,
executed by TERESA A. GARMON, A MARRIED PERSON, JOINED BY BOBBY V.
GARMON (the "Debtor") which was recorded in the county of LINCOLN, State ofWY, as
BOOK 547PR, PAGE 323 on 02/03/2004 (the "Subordinated Instrument") covering real
property located in THAYNE in the above-named county of LINCOLN, State ofWY, as more
particularly desclibed in the Subordinated Instrument (the "Property").
PLEASE SEE ATTACHED EXHIBIT "A" (Legal Description)
Lender will make a loan to the Debtor secured by a deed of trust/mortgage on the Property
which will be recorded (the "Lender Instmment"). The Lender Instrument will secure a
promissory note/line of credit agreement not to exceed the amount of ! i J.... Ð ( ~'o 9 "ð 0
Lien Holder has agreed to execute and deliver this Subordination Agreement.
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ACCORDINGL Y, in consideration of the property and for olher good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Lien
Holder hereby agrees with Lender as follows:
1. Regardless of any Pliority otherwise available to Lien Holder, the ]jen of the
Subordinated Instrument is, shall be and shall remain fully subordinate for all
purposes to the lien of the Lender Instrument, to the fì.tll extent 0 f the sum
secured by the Lender Instrument, including not only principal and interest on
the principal indebtedness secured lhereby but all other sums secured by the
Lender Instrument, excluding non-obligatory future advances.
2. Lien Holder warrants to Lender that Lien Holder presently owns the
Subordinated Instrument and indebtedness secured thereby, fi-ee and clear of
all liens, security interests and encumbrances.
3. This Agreement is made under the laws of the State of WY. It cannot be
waived or changed, except by a writing signed by the parties to be bound
thereby. This Agreement is made between Lender and Lien Holder. It shall
be binding upon Lien Holder and the successors and assigns of Lien Holcler,
and shall inure to the benefit of, and shall be enforceable by, Lender and its
successors and assigns. Neither the Debtor nor any other person (except
Lender, its successors and assigns), shall be entitled to rely on, have the
benefit of or enforce this Agreement.
TN WITNESS WHEREOF, this Subordination Agreement is executed on the day
and year first above stated.
WELLS FARGO BANK, N.A
NOTICE: This
subordination agreement contains a provision which allows
the person obligated on your real property security to
obtain a loan a portion of which may be expended for other
purposes than improvement of the land
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By: eler M. Bnol
Title: Assistant Vice President
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0914353
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STATE OF Minnesota
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COUNTY OF Hennepin
The foregoing instrument was acknowledged before me this 10TH day of SEPTEMBER,
2005, by Peter M. Buol Assistant Vice President of Wells Fargo Bank, N.A.
WITNESS my hand and official seal.
My commission expires:
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Exhibit A
Legal Oesciption:
Lot 50 of Star Valley Ranch Subdivision Plat 18, Lincoln County, Wyoming as described on the
official plat thereof.
Parcelrrax 1.0. #: 34180530305300
Commonly known as: 824 Hardman Road, Thayne, WY 83127
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