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HomeMy WebLinkAbout949947RECEIVED 10/8/2009 at 4:26 PM RECEIVING # 949947 BOOK: 733 PAGE: 500 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY R-eturn-ta: FIRSTIAMERICAN TITL. INS CO 3NJA CA=~,CA9 PLZA~, #960 SANTA X07 Property Tax ID#: Retum to: FIRST AMERICAN TITLE INSURANCE RECORDING DIVISION 2805 ENTERPRISE ROAD STE#300 CLEARWATER, FL 3VO94986 y~_- SUBORDINATION AGREEMENT (Do r~ THIS INDENTURE, made this C day of Ou-ovx"-~ d© between BANK OF JACKSON HOLE, hereinafter called party of the First Pa , and GMAC BANK, hereinafter called Party of the Second Part, WITNESSETH, that whereas Party of the First Part is the owner and holder of a certain Lien taken out by CRAIG W. SMITH and LEANNE SMITH to BANK OF JACKSON HOLE in the original principal indebtedness of $25,000.00, which Lien was recorded on 03/22/2007 in Book 652PR, Page 81, which was modified to $40,000.00 recorded 09/19/2008 in Book 705, Page 263.encumbering the land situate in the County of LINCOLN, WY, described as follows: "SEE COMPLETE LEGAL ATTACHED AS EXHIBIT "A" INCLUDED HEREWITH AND MADE A PART HEREOF" PROPERTY ADDRESS: 239 STRAWBERRY CREEK LN BEDFORD, WY 83112 $001 AND WHEREAS, CRAIG W. SMITH, LEANNE SMITH, has made application to the Party of the Second Part for a loan to MOUNTAIN STATES MORTGAGE in the amount not to exceed $275,110.00 to be secured by a First Lien encumbering the above described premises, and Party of the Second Part has required as a condition precedent to making of said loan that the Party of the First Part subordinate its lien and the lien thereof and all of its rights there under to the lien to be placed upon said premises as aforesaid, and Party of the First Part is agreeable to such subordination. NOW THEREFORE, in consideration of the sum of One Dollar ($1.00), and other valuable consideration in hand paid by the Party of the Second Part to the Party of the First Part, receipt whereof is hereby acknowledged, and as inducement for making the aforesaid loan by the Party of the Second Part to the aforesaid CRAIG W. SMITH and LEANNE SMITH, the Party of The First Part does hereby subordinate the aforesaid lien by it and the lien thereof and all of its rights and there under to the lien recorded in Official Records, Boob' , Page , or Document Number of the Public Records of LINCOLN County WY, encumbering the above described premises and does hereby covenant with the Party of the Second Part that it has not transferred or assigned the aforesaid lien held by it, nor the Promissory Note it secures, nor any interest held by it in either of said instruments, and it executed this Subordination Agreement as tenants by the entirety of the entire interest held by it in said Note and lien and declare any right or claim held by it to be subject and inferior to the Mortgage held by the Party of the Second Part and to all rights of the Party of the Second Part there under. C-01~Llilc~lcenkl~ here~~~h K 000-so!? IN WITNESS WHEREOF, THE PARTY OF THE FIRST PART HAS HEREUNTO SET ITS HAND AND SEAL ON THE DAY AND YEAR FIRST WRITTEN. BANK OF JACKSON HOLE By: \ Its: cv A -I- L- L VL RP INT NAME STATE OF O yo I } COUNTY OF P nCQ G,. } BEFORE MF,, the undersigned authority, per onally ap eared r , who is the 1 kl~ of BANK OF JACKSON HOL , appearing on behalf of said corporation, who is known to me or has shown as identification, who after being by me first duly sworn, deposes and says that he/she has the full binding authority so execute this Subordination Agreement and he/she subscribed his/her name thereto in certification thereof. MAR E M k 4. Kos !i k t17 Ei1M~'pP~a~l Q Ce7l.iN1 Y ' O. ti `aTYAT , e'2C~ 10 A Ocj NOTA Y PUBLIC mQl fleB9~'ttr{ ftd~'u~9°C A k MYCOM NOSSMIMD M It RYl0 2013 ~ My Commission Expires No title search was performed on the subject property by the preparer. The preparer of this deed makes neither representation as to the status of the title nor property use or any zoning regulations concerning described property herein conveyed nor any matter except the validity of the form of this instrument. Information herein was provided to preparer by Grantor/Grantee and /or their agents; no boundary survey was made at the time of this conveyance. Prepared by: William E. Curphey & Assoc. 2605 Enterprise Road, East Suite 155 Clearwater, Florida 33759 + p b 00501 "Exhibit A" Lot 9 of Amended Plat Bridger Forest Ranches, Lincoln County, Wyoming as described on the official plat filed on February 6, 1975 as instrument No. 462684 of the records of the Lincoln County Clerk.