HomeMy WebLinkAbout947029WHEN RECORDED RETURN TO: RECEIVED 5/11/2009 at 11:31`AM
RECEIVING # 947029
Mountain West Small Business Finance PAGE: 560
2595 East 3300 South BOOK: 722
Salt Lake City, Utah 84109 JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Real Estate Lease
Subordination Agreement e0056-0
This Subordination Agreement is entered into by PRINT VISION, LLC ("Lessee") for the
benefit of Mountain West Small Business Finance ("MWSBF") and its successor in interest, the Small
Business Administration ("SBA").
RECITALS
A. Lessee has heretofore leased from Lawrence L. Chavez and Sandra L. Chavez ("Lessor") by
lease dated May 1, 2009 for a term of twenty years (the "Lease") certain real property (the "Leased
Premises") known as 27 Doc Perkes Lane, Afton, WY 83110, located in the County of Lincoln, State
of Wyoming and described as follows:
See Exhibit "A" which is attached hereto and incorpo-
rated herein by this reference.
B. MWSBF and the SBA have authorized the making of an SBA 504 Loan, Loan No.
34235560-05, to Lessor in the amount of $223,000.00, due and payable on or before a time to be deter-
mined by the U.S. Secretary of the Treasury (the "Loan").
C. The Loan is for the benefit of both Lessee and Lessor, in that the funds are to be used for the
benefit of the business conducted on the Leased Premises purchased and/or renovated by Loan proceeds.
D. A condition of the Loan is that the Lease be subordinated to the lien of a trust deed executed
by Lessor and recorded as a lien superior to the Lease.
AGREEMENT
NOW, THEREFORE, in consideration of disbursement of the Loan or any part thereof, and for
other good and valuable consideration the receipt and legal sufficiency of which are hereby acknowl-
edged, Lessee covenants and agrees as follows:
1. No Default. Lessee is not now in default in the performance of the Lease; and Lessee will
perform the covenants and conditions required of is by the Lease for the term of the Loan and any
extensions or renewals of it.
2. Subordination of Lease. All rights under the Lease together with any and all right, interest,
estate, title, lien, or charge against or respecting the Leased Premises (or any portion thereof) by virtue
of the Lease, shall be and the same are hereby made subject, subordinate, inferior, and junior to the lien
and title of MWSBF and the SBA represented by the SBA Note in the amount of $223,000.00 and
security instruments related to the Loan, including without limitation the Promissory Note, Deed of
Trust, Security Agreement and UCC Financing Statements (filed with the Uniform Commercial Code
Division for the State of Wyoming and as fixture filings in Lincoln County, Wyoming) (the "Loan
Documents") and to all rights, powers, title, and authority of MWSBF and the SBA under or in any way
related to or arising out of the Loan Documents and to all sums heretofore or hereafter advanced on the
security of the Loan Documents or any of them, including all sums advanced or costs incurred as fees,
expenses, disbursements, or charges in connection with the Loan Documents or the Loan. The Lease
000551.
Rights, together with any and all right, interest, estate, title, lien, or charge against or respecting the
Leased Premises (or any portion thereof) by virtue of the Lease, are hereby subordinated to the Loan
Documents the same and as fully as if the Loan Documents had been executed, delivered and, where
appropriate, filed, prior to execution, delivery and filing of the Lease.
3. This Agreement shall be binding upon and inure to the benefit of the personal represen-
tatives, successors and assigns of the parties hereto.
Dated May 1, 2009.
LESSEE:
PRINT VISION, LLC
."4
By:
STATE OF Wyoming )
:ss.
COUNTY OF Lincoln )
The foregoing instrument was acknowledged before me this May 1, 2009 by Lawrence L.
Chavez, Manager, PRINT VISION, LLC .
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Notary I~jblic
NOTARY UP BLIC
EMYCON IM, BAlFfi
Oj,IyOF STATE OF
WYOM ING
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MARCH 9, 2013
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May 1 7009 14:36 P004/033
ORDER NUMBER: NTL-2280
EXHIBIT "All
00v"'562
LOT 9 OF STAR VALLEY MEDICAL CENTER SECOND ADDITION TO THE TOWN OF AFTON, LINCOLN
COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT FILED ON JULY 30, 2003 AS
INSTRUMENT NO, 892044 OF THE RECORDS OF THE LINCOLN COUNTY CLERK,
ALTA Commitment (6/17/06) r is t
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