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SUBORDINATION AGREEMENT
FROM
00\1742
First Interstate Bank., (hereinafter called "OLD LENDER")
TO
First Interstate Bank, with its primary office at 802 West Broadway, Jackson, WY
83001 (hereinafter called "NEW LENDER")
WHEREAS, OLD LENDER is the holder of a valid MortgagelDeed of Trust granted
by Travis M. Ziehl and Monika W. Ziehl, ("OWNER") covering certain real property
owned by OWNER and located in the county of Lincoln and the state of Wyoming and
more fully described as:
LOT TEN (10) OF RIVER VIEW MEADOWS ADDITION TO THE TOWN OF
ALPINE WITHIN THE SE1/4 OF SECTION 30, T37N, Rl18W, ACCORDING TO
THAT PLAT FILED illL Y 2, 1993 AS DOCUMENT NUMBER 767416 AND MAP
NUMBER 264-B IN THE OFFICE OF THE CLERK, LINCOLN COUNTY,
WYOMING.
(hereinafter the "PROPERTY") which MortgagelDeed of Trust was recorded on
December 10,2008, in the amount of $50,000, as Instrument No. 944085, Official
Records of said county (hereinafter the "PRIOR MORTGAGEIDEED OF TRUST"); and
WHEREAS, OWNER has granted NEW LENDER a MortgagelDeed of Trust on the
PROPERTY and NEW LENDER has executed, or is about to execute, a MortgagelDeed
of Trust in the Recorder's office of Lincoln County on 1- 7 - 011 (date) in Book No
71 ~ , Page(s) ~ ("NEW LENDER'S MORTGAGEIDEED OF TRUST")
in an amount of not more than $233,618.17 and
WHEREAS the OLD LENDER has agreed to subordinate the PRIOR
MORTGAGEIDEED OF TRUST to NEW LENDER'S MORTGAGEIDEED OF
TRUST.
NOW, THEREFORE, INTENDING TO BE LEGALL Y BOUND and in
consideration of $1.00 (One Dollar) and other good and valuable consideration, receipt of
which is hereby acknowledged, the parties agree as follows:
1. Subordination of Lien: The OLD LENDER hereby subordinates the PRIOR
MORTGAGEIDEED OF TRUST and its lien position in and on the PROPERTY
to the NEW LENDER'S MortgagelDeed of Trust and the lien thereof, as if the
NEW LENDER'S Mortgage/Deed of Trust had been recorded first in time to the
PRIOR MORTGAGEIDEED OF TRUST and so that all public records will
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reflect NEW LENDER'S MORTGAGEIDEED OF TRUST to be superior in lien
to the PRIOR MORTGAGEIDEED OF TRUST.
2. Subordination of Debt: OLD LENDER hereby subordinates payment of the debt
secured by the Prior MORTGAGEIDEED OF TRUST to payment of the debt
secured by the NEW LENDER'S MORTGAGE/DEED OF TRUST.
3. This Subordination shall be binding upon and inure to the benefit of the
respective heirs, successors, and assigns of OLD LENDER and NEW LENDER.
4. It is expressly understood and agreed, that except for this subordination, the
MortgagelDeed of Trust held by the OLD LENDER and all terms and conditions
thereof, shall be and will remain in full force and effect.
WITNESS the hand seal of the said OLD LENDER
.....
(SEAL)
Print Nam4L{ ¿. ¿/b:7:.
Title: V ~ 01- RIl. ¿~ ~".
State of li) ~ ~
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The foregoing instrument was acknowledged before me this d I 5+ day of :J. c..JA. ~'
200" by (name)<K·,c- ~ J. I . lJ..\\ )3~ .ofFirst Interstate Bank, a Montana Corporation, n
behalf of the Corporation.
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otary Publi .,
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