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(101 54 SUBORD w ATION AGREEMENT
Doc ID No.: 0001294263592005N
ESCROW /CLOSING
c 3
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE
PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME
OTHER OR LATER SECURITY INSTRUMENT.
SUBORDINATION AGREEMENT
WHEREAS, ERIC JUSTIN HARRELL and SUZANNE KIERNAN HARRELL executed and
RECEIVED 11/30/2009 at 4:05 PM
RECEIVING 950815
BOOK: 737 PAGE: 145
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
SPACE ABOVE FOR RECORDERS USE
0 0 0 1 45
THIS SUBORDINATION AGREEMENT is made this Twenty-ninth day of October, 2009, by Mortgage
Electronic Registration Systems, Inc. "Subordinated Lienholder with a place of business at 4500 PARK
GRANADA, CALABASAS, CA 91302 -1613.
00 (446
delivered to Subordinated Lienholder, a Deed of Trust/Mortgage (the "Existing and Continuing Security
Instrument in the sum of $100,000.00 dated 08/25/2006 and recorded in Book Volume 632, Page 381, as
Instrument No. N /A, in the records of LINCOLN County, State of Wyoming, as security for a loan (the "Existing
and Continuing Loan"), which Existing and Continuing Security Instrument is a valid and existing lien on the
real property located at 103389 HWY 89, FREEDOM, WY 83120 and further described on Exhibit "A," attached.
WHEREAS, ERIC JUSTIN HARRELL and SUZANNE KIERNAN HARRELL "Borrower executed
and delivered to Mortgage Electronic Registration Systems, Inc. as nominee for Quicken Loans, Inc., "Lender
a deed of trust/mortgage in the principal amount not to exceed $417,000.00, which deed of trust/mortgage (the
New Security Instrument is intended to be recorded herewith in the records of LINCOLN County, State of
Wyoming as security for a loan (the "New Loan");
WHEREAS, it is a condition precedent to obtaining the New Loan that the lien of the New Loan shall
unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and
superior to the lien of the Existing and Continuing Loan; and
WHEREAS, Lender is willing to make said loan provided the lien securing the New Loan is a lien or
charge upon the described property prior and superior to the lien of the Existing and Continuing Loan and
provided that Subordinating Lender will specifically and unconditionally subordinate the lien of the Existing and
Continuing Loan to the lien of the New Loan; and
WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such a loan to Borrower; and
Subordinating Lender is willing that the lien securing the New Loan shall, when recorded, constitute a lien or
charge upon said land which is unconditionally prior and superior to the lien securing the Existing and Continuing
Loan.
NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other
valuable consideration, the receipt and sufficiency of which consideration is hereby acknowledged, and in order to
induce Lender to make the loan above referred to, it is hereby declared, understood and agreed as follows:
(I) That the New Security Instrument, and any renewals or extensions thereof, shall unconditionally be
and remain at all times a lien or charge on the property therein described, prior and superior to the Existing
and Continuing Security Instrument.
(2) That Lender would not make the New Loan without this subordination agreement.
(3) That this agreement shall be the whole and only agreement with regard to the subordination of
the Existing and Continuing Security Instrument to the New Security Instrument and shall supersede and
cancel, but only insofar as would affect the priority between the security instruments hereinbefore
specifically described, any prior agreements as to such subordination including, but not limited to, those
provisions, if any, contained in the Existing and Continuing Security Instrument above mentioned, which
provide for the subordination of the lien to another security instrument, deed of trust or mortgage.
Subordinating Lender declares, agrees and acknowledges that
(a) It consents to and approves (i) all provision of the note and New Security Instrument in favor of
Lender above referred to, and (ii) all agreements, including but not limited to any loan or escrow
agreements, between Borrower and Lender for the disbursement of the proceeds of the New Loan;
(b) Lender making disbursements pursuant to any such agreement is under no obligation or duty to, nor
has Lender represented that it will, see to the application of such proceeds by the person or persons to
whom Lender disburses such proceeds and any application or use of such proceeds for purposes other than
those provided for in such agreement or agreements shall not defeat the subordination herein made in
whole or in part; and
(c) It intentionally and unconditionally waives, relinquishes and subordinates the lien of the Existing and
Continuing Security Instrument in favor of the lien or charge upon said land of the New Security
Instrument and understands that in reliance upon, and in consideration of, this waiver, .relinquish and
subordinate specific loans and advances are being and will be made and, as part and parcel thereof,
specific monetary and other obligations are being and will be entered into which would not be made or
entered into but for said reliance upon this waiver, relinquishment and subordination.
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOW THE
PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF
WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND.
Mort gage Electronic Registration Systems, Inc.
Kimberli Pierce, Assistant Secretary
000147
CORPORATE ACKNOWLEDGEMENT
STATE OF TEXAS
COUNTY OF DALLAS
Before e, the undersigned, a Notary Public on this day personally appeared,
Ki Pierce known to me (or proved to me on the oath of
Assistant Secretary to be the person and officer whose name is subscribed to
the foregoing instrument and acknowledged to me that the same was the act of the said
corporation, and that she has executed the same as the act of such corporation for the
purpose and consideration therein expressed, and in the capacity therein stated.
Given under my hand and seal of office, this
(Personalized Seal)
ECCAZECHIEL
MY COMMia'rdO3P4 EXPIRES
APRIL 12, 2012
My commission expires the 12 of April, 2012.
day of October, 2009
Nota Public, State of Texas
_Rebecca Zechiel
(Print name of Notary Public here)
00:3148
Exhibit A
File 6010918415ET Description
0 00149
The land referred to in this document is situated in the State of Wyoming, County of Lincoln, and is
described as follows:
A portion of the property, as referred to in the Deeds recorded in Book 497PR, on pages 808
thru 811, with the Office of the Clerk of Lincoln County, Wyoming, within the Southwest
Quarter of the Northwest Quarter, the North Half of the Southwest Quarter of Section 34,
Township 35 North, Range 119 West, of the 6 P.M., Lincoln County, Wyoming, the metes and
bounds being more particularly described as follows:
BEGINNING at the B.L.M. type Monument marking the Lloyd B. Baker PE /LS 698, 2002
location for the Northwest Corner of the Southeast Quarter of the Northwest Quarter of said
Section 34;
thence South 0 °45'30" West, along the West line of said Southeast Quarter of the Northwest
Quarter, 1,329.04 feet to the B.L.M. type Monument marking the Lloyd B. Baker PE/LS
698, 2002 location for the Southwest Corner of said Southeast Quarter of the Northwest
Quarter;
thence South 89 °05'02" East, along the South line of said Southeast Quarter of the Northwest
Quarter, 1,334.57 feet to the B.L.M. type Monument marking the Northwest Corner of the
Southeast Quarter of said Section 34;
thence South 1 °14'32" West, along the West line of said Southeast Quarter, 1,135.08 feet to an
Aluminum Cap on Iron Pipe;
thence North 65 °18'55" West 135.51 feet to an Aluminum Cap on Iron Pipe;
thence North 69 °56'47" West 125.75 feet to an Aluminum Cap on Iron Pipe;
thence North 53 °13'28" West 61.47 feet to an Aluminum Cap on Iron Pipe;
thence North 64 °12'43" West 46.21 feet to an Aluminum Cap on Iron Pipe;
thence North 70 °08'29" West 103.92 feet to an Aluminum Cap on Iron Pipe;
thence North 80 °06'17" West 196.16 feet to an Aluminum Cap on Iron Pipe;
thence North 65 °46'26" West 69.71 feet to an Aluminum Cap on Iron Pipe;
thence South 89 °08'36" West 43.98 feet to an Aluminum Cap on Iron Pipe;
thence North 88 °47'01" West 86.00 feet to an Aluminum Cap on Iron Pipe;
thence North 38 °57'46" West 1,078.35 feet to an Aluminum Cap on Iron Pipe;
thence South 89 °10'19" West 39.94 feet to a Point in the calculated thread line of the existing
Salt River;
thence Northerly, along said thread line, the following: North 9 °48'29" West 104.16 feet;
North 0 °48'20" East 70.40 feet,
North 8 °36'34" West 28.22 feet,
North 28 56'19" West 75.91 feet,
North 59 °12'51" West 139.16 feet,
North 57 °08'37" West 53.96 feet,
North 70 °47'52" West 94.76 feet,
North 58 °21'45" West 13.61 feet,
North 30 °00'43" West 52.62 feet,
North 33 09'25" West 62.59 feet,
North 30 °00'43" West 41.37 feet,
Exhibit A Continued
North 46 °56'02" East 45.52 feet,
North 48 °22'27" East 128.77 feet,
North 59 °48'27" East 104.38 feet,
North 54 °34'45" East 148.21 feet,
North 52 11'44" East 129.49 feet,
North 36 °54'54" East 96.09 feet,
North 25 °53'53" East 43.32 feet,
North 15 °39'18" East 59.70 feet,
North 15 °27'45" East 81.34 feet,
North 21 °47'11" East 44.30 feet,
North 2 °54'24" West 55.11 feet,
North 2 °38'48" East 66.82 feet,
North 3 °33'54" West 35.12 feet,
North 8 °22'06" West 47.01 feet, and North 20 24'02" West 24.04 feet to a Point in the South
line of the Northwest Quarter of the Northwest Quarter of said Section 34;
thence South 89 °11'56" East, along said South line, 90.76 feet, to the Point of Beginning.
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