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SUBORDINATION AGREEMENT
000320
THE UNDERSIGNED, FIRST INTERNATIONAL BANK & TRUST whose address is 3001
25th St S., Fargo, ND 58103, is the owner and holder ofa First Mortgage from WJW Holdings,
LLLP, A North Dakota Limited Liability Limited Partnership, dated July 17,2006 and filed for
record on July 28,2006, as Receiving No. 920715, Book: 628 and Page: 86 in the original
amount of $8,000,000.00, and an Assignment of Leases and Rents dated July 17,2006 and filed
for record on July 28,2006, as Receiving No. 920716; Book: 628 and Page: 95 and a Second
Mortgage from WJW Holdings, LLLP, A North Dakota Limited Liability Limited Partnership,
dated October 17,2006 and filed for record on November 7,2006, as Receiving No. 924163;
Book: 639 and Page: 534 in the original amount of$5,500,000.00, and an Assignment of Leases
and Rents dated October 17,2006 and filed for record on November 7,2006, as Receiving No.
924164; Book: 639 and Page: 543 in the Office of the Lincoln County Clerk of Lincoln County,
Kemmerer, Wyoming, affecting the following described real estate located in Lincoln County,
Wyoming:
Lots 20, 21, 27, and 42 of Alpine Village Subdivision No.1, Plat 2, Amended, Lincoln
County, Wyoming as described on the official plat thereof.
ALSO
That portion of Lot 41 in the Alpine Village Subdivision No.1, Plat 2, Amended, Lincoln
County, Wyoming lying North West of the following described line:
Beginning at a point on the Northeasterly line of said Lot 41 South 36 degrees 56'17"
East, 302.00 feet from the North comer of said lot;
Thence South 53 degrees 04'01" West, 459.22 feet parallel with and 302.00 feet
Southeasterly of the Northwesterly line of said lot to the Southwesterly line of said lot.
First International Bank and Trust, 3001 25th St. S., Fargo, North Dakota 58103, has agreed to
loan the above-named Mortgagors the sum of$3,750,000.00 secured by a mortgage on the above
described real estate provided that lender's mortgage shall be a first and paramount lien on the
real estate.
FOR VALUABLE CONSIDERATION the receipt and sufficiency is hereby acknowledged.
FIRST INTERNATIONAL BANK & TRUST hereby agrees and consents that the lien of its
mortgages described above shall be junior inferior and subordinated to the liens and interests of
lender which has or will be given by the above name mortgagors to lender in the amount of
$3,750,000,00 all renewals, extensions and replacements of said mortgage.
This Agreement shall be binding upon the undersigned and its successors and shall insure to the
benefit of lender its successors and assigns.
IN WITNESS WHEREOF, FIRST INTERNATIONAL BANK & TRUST has executed this
Agreement the day and year first above written.
By:
RECEIVED 9/17/2007 at 11 :14 AM
RECEIVING # 933153
BOOK: 672 PAGE: 320
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Its: President
State of North Dakota)
County of Cass
) ss.
)
The foregoing instrument was acknowledged before me this 28th day of August, 2007, by Dennis
1. Schock, President of First International Bank & Trust.
. KIM HENDR\CK~N
Notary Public
state of North Dakota
y commission Expires July 28.2010