HomeMy WebLinkAbout927889
~ìI'tn)·102
RECEIVED 3/26/2007 at 4:38 PM
RECEIVING # 927889
BOOK: 652 PAGE: 402
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
This Instrument Prepared by:
When Recorded Return to:
First Tennessee Bank National Association, Grantor
P.O. Box 132
Memphis, TN 38101
SUBORDINATION AGREEMENT
RECITALS:
WHEREAS, Brad E. Howard Jr., A Single Person (hereinafter singly or collectively "Borrower"
) is the owner of the following described real property described below or in Exhibit "A"
attached hereto, and having a street address as follows (the "Property"):
59 Prater Canyon Drive
Thayne, WY 83127
AND WHEREAS, the said Borrower has made application for a closed-end mortgage loan
("New Loan") in an amount not to exceed $200,462.00 from First Horizon Home Loan
Corporation (the "Grantee"), whose address is: 4000 Horizon Way, Irving, TX 75063 to be
evidenced by a Deed of Trust / Mortgage which shall be a lien or charge on the Property.
AND WHEREAS, the undersigned, First Horizon Home Loan Corporation (the Grantor),
whose address is 4000 Horizon Way, Irving, TX 75063 has an interest in or lien upon the
Property as follows:
(Mortgage) As Mortgagee under a Mortgage Recorded August 3,2006, as Entry
Number 92091, Book 628, Page 761; Official Records of Lincoln County, State of
Wyoming.
80632
21-Mar-D7
-- -.-. - ......, ~
O~-)Zfì'88S
As a condition of making the New Loan, the Grantee has required the Borrower to execute a Deed of
TrusUMortgage on the Property securing repayment of the New Loan (the "New Deed of
TrusUMortgage"), which, upon execution and recordation of this Agreement, and subject to the conditions
and limitations set out below, shall have a superior lien position to that of Grantor on the Property.
AGREEMENTS:
NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Grantor hereby agrees as follows:
1. Grantor hereby agrees to subordinate the lien of its Deed of TrusUMortgage to the lien of the New
Deed of TrusUMortgage, subject to the following conditions. This Subordination is limited solely to the
New Deed of TrusUMortgage and is effective ONLY to the extent to which the New Deed of
TrusUMortgage is a valid, enforceable and properly recorded mortgage lien instrument. This
Agreement shall be of no force and effect in the event Grantee or its agents fails to satisfactorily
perform all acts required to make the New Deed of TrusUMortgage a valid and enforceable mortgage
loan, that is properly recorded in the appropriate land records.
2. This Subordination as described above shall not apply to any future advance of funds to or for the
benefit of the Borrower by the Grantee of the New Deed of TrusUMortgage, except for advances
necessary to protect the security of the New Deed of TrusUMortgage.
3. Nothing in this Agreement shall be deemed to constitute a novation with respect to the debt secured
by the Grantor Deed of TrusUMortgage, nor an extension or modification thereof, nor otherwise affect
the rights, remedies or penalties under the Grantor Deed of TrusUMortgage.
4. This Agreement shall be binding upon and shall inure to the benefit of Grantor and the Grantee and
their respective successors and assigns, and any purchaser at any foreclosure sale instituted
pursuant to the Grantor Deed of TrusUMortgage or the New Deed of TrusUMortgage.
5. This Agreement shall be construed in accordance with the laws of the State of
Tennessee.
IN WITNESS WHEREOF, Grantor has caused this Agreement to be executed by its duly authorized
representative and Trustee has executed this Agreement on this âl day of t)\Cl( GiI\ ,200"7.
WITNESS:
First Horizon Home Loan Corporation (Grantor)
~~:m~~'--
Title: Limited Vice President
Subordination Agreement
Revision 11.02 FHHLC
Page 2 of 3
ACKNOWLEDGMENT
STATE OF TENNESSEE
COUNTY OF SHELBY
)
) ss:
)
0, ';J' 'V'l 0'4
OSZt1;S89
_~~i; :~.:
Before me, Tena Farrell the state and county mentioned, personally appeared Jeff Mclean with whom I
am personally acquainted (or proved to me on the basis of satisfactory evidence), and who, upon oath,
acknowledged such person to be the Designated Agent of First Tennessee Bank National Association,
the within named bargainer, a corporation, and that he/she, as such Designated Agent, executed the
foregoing instrument for the purpose therein contained, by personally signing the name of the corporation
as Designated Agent.
WITNESS my hand and official seal on this
My Commission expires:
MY COMMISSION EXPIRES
MAY 31,2010
Subordination Agreement
Revision 11.02 FHEUFHMC
~\
. (Y'\ r\ \rÎ ,/\ 01
dayof~, 20_.
ðe.V\ L\'~
Notary Public
\\\ \ \\\11/ 11/11111
~\\\ \I- 'fAR/:¡ 111/",
~~<v~.,,··..,·J!¿/0
.;:: ." .t . (. 'l
~ .... STATE .... '~
g.: OF \. ~
§*! TENNESSEE =* §
~ \ NOTARY ..: ~
~' C:~..·
~aQ"'. PUBLI .,'Ch ~,'::-
'/. '/.' " ~:vv '-.-
~v4'h:"·"··~y.,,,;;, ~'
;1/11. ' r OF ~ \\\,,,,
111111/ I!I" \\\\\ \\
Page 3 01 3