HomeMy WebLinkAbout917162
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Drafted by:
Wells Fargo Home Mortgage, Inc.
2701 Wells Fargo Way
Minneapolis, Minnesota 55467
C00824
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-- - - RECEIVED 3/31/2006 at 3:24 PM
RECEIVING # 917162
BOOK: 615 PAGE: 824
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Space above line for recording purposes.
6541892711001
SUBORDINA TION AGREEMENT
NOTICE: This subordination agreement results in your security interest in the property becoming subject to and oflower priority
than the lien of some other or later security instrument
This Agreement is made this 03/21/2006, by and between Wells Fargo Bank, N.A. a
national bank with its headquarters located at 420 MONTGOMERY ST, SAN FRANCISCO,
CA (herein called "Lien Holder"), and Wells Fargo Bank, N.A., with its main office located in
the State of Iowa (herein called the "Lender").
RECITALS
Lien Holder is the beneficiary/mortgagee under a deed of trust/mortgage, dated
, executed by KIRBY JOE BOOTH AND DONNA L. BOOTH (the "Debtor") which was
recorded in the county of LINCOLN, State oflL, as BOOK 487PR PAGE 227 on 04/12/2002
(the "Subordinated Instrument") covering real property located in AFTON in the above-named
county of LINCOLN, State oflL, as more particularly described 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 Instrument"). The Lender Instrument will secure a
promissory note/line of credit agreement not to exceed the amount of
$141000.00.
Lien Holder has agreed to execute and deliver this Subordination Agreement.
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0917162 C00825
ACCORDINGLY, in consideration of the property and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Lien
Holdet hereby agrees with Lender as follows:
1. Regardless of any priority otherwise available to Lien Holder, the Hen of the
Subordinated Instrument is, shall be and shall remain fully subordinate for all
purposes to the lien of the Lender Instrument, to the full extent of the sum
secured by the Lender Instrument, including not only principal and interest on
the principal indebtedness secured thereby 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, free and clear of
all Ii ens, security interests and encumbrances.
3. This Agreement is made under the laws of the State ofWY. 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 Holder,
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.
IN 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: ("~~. Buol
Title: Assistant Vice President
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CQ0826
0917:t62
STATE OF Minnesota )
) SS.
COUNTY OF Hennepin )
The foregoing instrument was acknowledged before me this 03/21/2006, 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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LAURIE K KYNELL
NOTARY PUBLIC - MINNESOTA
MY COMMISSION EXPIRES 1·31·2010
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EXHmIT A
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091..7162
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Lot 2 of Hialeah Subdivision, Lincoln County, Wyoming as described on the official plat
thereof.