HomeMy WebLinkAbout954388PLEASE RECORD RETURN TO:
National Advant Settlement SVC
329 araa*. G: ove Rd, Ste. 201
Coraopolis, PA 15108
R ording req ested by: LSI
Whe ecorded turn to
Non Aq •ept./ Garcia a /X
2550 N. Re. ill Ave. u
Santa Ana, CA. 05
800 756 -3524 ext. 5952 00
This Instrument Prepared by:
Wells Fargo
P.O. Box 4149 MAC P6051 -019
Portland, OR 97208 -4149
1- 800 945 -3056
Parcel /UPI JfA
VJ
Account Number: XXX- XXX- XXX1597 -1998
Effective Date: 6/3/2010
Owner(s): ROBERT L KNOWLTON, JR.
Current Lien Amount: $80,000.00.
Senior Lender: Wells Fargo Bank, N. A.
Property Address: 219 SO MAIN, THAYNE, WY 83127
[Space Above This Line for Recording Data]
SUBORDINATION AGREEMENT
LINE OF CREDIT MORTGAGE
Reference Number: 522157002122418
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RECEIVED 7/15/2010 at 11:33 AM
RECEIVING 954388
BOOK: 750 PAGE: 454
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Subordinating Lender: Wells Fargo Bank, N.A.
If Wells Fargo Bank, N.A. is subordinating to Wells Fargo Bank, N.A., this document is notice that the lien securing
the loan or line of credit serviced by the Wells Fargo Bank Home Equity Group is subordinated to the first lien loan
being originated or modified by the Wells Fargo Home Mortgage Group.
THIS AGREEMENT (the "Agreement effective as of the Effective Date above, is made by and among the
Subordinating Lender, Owners and the Senior Lender named above.
ROBERT L KNOWLTON, JR., A SINGLE MAN (individually and collectively the "Owner own the real property
located at the above Property Address (the "Property").
The Subordinating Lender has an interest in the Property by virtue of a Line Of Credit Mortgage given by the
Owner, covering that real property, more particularly described as follows:
which document is dated the 18th day of June, 2007, which was filed in Book 666 at page 529 (or as No. 931508)
of the Official Records in the Office of the Recorder of the County of LINCOLN, State of Wyoming (the "Existing
Security Instrument The Existing Security Instrument secures repayment of a debt evidenced by a note or a line of
credit agreement extended to ROBERT L KNOWLTON, JR. (individually and collectively "Borrower by the
Subordinating Lender.
The Senior Lender has agreed to make a new loan or amend an existing loan in the original principal amount NOT
to exceed $90,233.00 (the "New Loan or Amended Loan"), provided that the New Loan or Amended Loan is
secured by a first lien mortgage on the Property (the "New Security Instrument in favor of the Senior Lender. If
the New Loan or Amended Loan exceeds this amount, the Subordination Agreement is VOID.
The Subordinating Lender is willing to subordinate the lien of the Existing Security Instrument to the lien of the
New Security Instrument under the terms set forth in this Agreement.
NOW, THEREFORE, for and in consideration of the above recitals, the covenants herein contained, and for good
and valuable consideration, the receipt of which is hereby acknowledged, the parties agree as follows:
A. Agreement to Subordinate
Subordinating Lender hereby subordinates the lien of the Existing Security Instrument, and all of its
modifications, extensions and renewals, to the lien of the New Security Instrument. This Agreement is effective
as to any sum whose repayment is presently secured or which may in the future be secured by the Existing
Security Instrument.
B. General Terms and Conditions
See Exhibit A
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Severability The invalidity or unenforceability of any portion of this Agreement shall not affect the
remaining provisions and portions of this Agreement.
C. Signatures and Acknowledgements
Binding Effect This Agreement shall be binding upon and inure to the benefit of the respective heirs, legal
representatives, successors and assigns of the parties hereto and all of those holding title under any of them.
Nonwaiver This Agreement may not be changed or terminated orally. No indulgence, waiver, election or
non- election by New Lender or the trustee(s) under the New Security Instrument or related documents shall
affect this Agreement.
The Subordinating Lender, through its authorized officer, has set its hand and seal as of the Effective Date above
unless otherwise indicated.
SUBORDINATI DER:
Wells Fare. B. i
By 6/3/2010
(Signature) Date
Barbara Edwards
(Printed Name)
Work Director
(Title)
FOR NOTARIZATION OF LENDER PERSONNEL
STATE OF Oregon
)ss.
COUNTY OF Washington
The foregoing Subordination Agreement was acknowledged before me, a notary public or other official qualified to
administer oaths this day of by Barbara Edwards, as Work Director of the
Subordinating Lender named above,n behalf of said Subordinating Lender pursuant to authority granted by its
Board of Directors. S /he is personally known to me or has produced satisfactory proof of his /her identity.
___A;60,&(&4____ (Notary Public)
OFFICIAL. SEAL
SARA J REYE S
NOTARY PUBLIC OREGON
s `d° COMMISSION NO. 448006
MY COMMISSION EXPIRES APRIL 01, 2014
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LEGAL DESCRIPTION
EXHIBIT "A"
''.C 4S7
The land referred to herein below is situated in the county of Lincoln, state of Wyoming,
and is described as follows:
Beginning at the southwest corner of the northwest quarter of the southeast quarter
(NW1 /4SE1 /4) of section 23, township 34 north, range 119 west of the 6th p. m., in
Wyoming, and running thence north 1194 feet, thence east 14 feet, to the West edge of
the u. s. highway 89 right -of -way, thence in a southeasterly direction along the said west
edge of said highway, 1310 feet to the point where said highway intersects the south
boundary line of said northwest quarter of the southeast quarter (NW1 /4SE1 /4) of section
23, thence west 554 feet to the point of beginning.
Excepting therefrom the following described parcel: beginning at a point 554 feet east of
the southwest corner of the northwest quarter of the southeast quarter (NW1 /4SE1 /4) of
section 23, township 34 north, range 119 west of the 6th p. m. Wyoming on the west
right -of -way of u. s. highway 89 and running thence south 90 west, 215 feet to the east
side canal right -of -way; thence along said east side canal right -of- way north 28 degrees
west, 290 feet, more or less, thence north 62 degrees east, 169 feet, more or less, to the
west right -of -way of u. s. highway 89; thence along the west right -of- way of said u. s.
highway 89 south 24 degrees east, 363 feet to the point of beginning.
Also excepting therefrom the following described parcel: beginning at a point on the west
right -of -way boundary of U.S.. highway 89 that is north 24 degrees 39' west, 821 feet
from the intersection of the west boundary line of said u. s. highway 89 with the South
boundary line of the northwest quarter of the southeast quarter (NW1 /4SE1 /4) of section
23, township 34 north, range 119 west, 6th p. m. Wyoming, and running thence south
70049' west, 214 feet, more or less, to the east boundary line of the east side canal right
of -way, thence in a northerly direction, along said east bide canal right -of -way, 132 feet 8
inches, thence in a northeasterly direction 158. 25 feet, more or less, to a point on the
west right -of -way boundary of said u. s. highway 89 that is north 24039' west, 953 feet 10
inches from the intersection of the west boundary line of said u. s. highway 89 with the
south boundary line of said northwest quarter of the southeast quarter (NW1 /4SE1 /4),
thence south 24039' east, 132 feet 10 inches to the point of beginning.
Also excepting therefrom the following described parcel: beginning at a point on the west
right -of -way boundary of u. s. highway 89 that is north 24 degrees 39' west 953 feet 10
inches from the intersection of the west right -of -way boundary of the U.S.. highway 89
with the south boundary line of the northwest quarter of the southeast quarter
(NW1 /4SE1 /4) of section 23, township 34 north, range 119 west of the 6th p. m.
Wyoming (said beginning point also being the northeast corner of the Byron Titensor
tract) and running thence north 24039' west, along the west boundary line of said
highway right -of -way, 356 feet 2 inches, more or less, to a point 1194 feet north of the
south boundary line of said northwest quarter of the southeast quarter (NW1 /4SE1 /4),
thence west 14 feet, more or less, to the west boundary line of said northwest quarter of
the southeast quarter (NW1 /4SE1 /4), thence south along said west boundary line to the
intersection of said west boundary line with the east right -of -way 'boundary of the east
side canal, and continuing in a southeasterly direction along said canal east right -of -way
boundary for a total of 383 feet 2 inches, more or less, alone said west boundary line of
the northwest quarter of the southeast quarter (NW1 /4SE1 /4) and said canal's east right
of -way boundary, to the northwest corner of the Byron Titensor tract, thence in a
northeasterly direction, along the north boundary line of the Byron Titensor tract, 158.25
feet, more or less, to the point of beginning.
Also excepting therefrom the following described parcel: beginning at a point in the
westerly boundary of U.S.. highway 89, said point being north 24039' west, 821 feet from
the intersection of said westerly boundary with the south line of said northwest quarter of
the southeast quarter (NW1 /4SE1 /4), said point of beginning being also the southeast
corner of the Byron Titensor tract; thence running south 70 degrees 49' west, along the
southeasterly line of said Byron Titensor tract, 208. 0 feet to the easterly line of the east
side canal right -of -way; thence along last said right- of -way, south 18 degrees 04' 02"
east, 103.255 feet, south 62 degrees 21' 26" east, 104. 553 feet and south 38 degrees 59'
36" east, 92. 471 feet; thence leaving said canal and running north 71 degrees 48' 15"
east, 132. 878 feet to said westerly line of U. S. highway 89; thence north 24 degrees 39'
west, along last said westerly line of U. S. highway 89; 270. 00 feet to the point of
beginning.
APN: 12-3419-23-4-04-033.00
(Order Id 8875497)
d* x' 4