HomeMy WebLinkAbout954660When recorded mail to:
Charles Burnham
622 Jennings Lane
Battle Creek, MI 49015
SUBORDINATION OF MORTGAGE
This AGREEMENT made UAL Z-d y 2010 between Charles C, Burnham the undersigned hereinafter
referred to as First Party a rokenrock, LLC hereinafter referred to as Second Party.
WHEREAS, the undersigned is presently the holder of a Note secured by a Mortgage recorded on June 14, 2010
in the Office of the Lincoln County Clerk as Document Number 953947 in Book 749 at Page 12 covering
premises situated in the County of LINCOLN, State of Wyoming, to wit:
Section 14, T32N, R119W
WITNESSETH
and more fully described in said Mortgage,
and WHEREAS, the present owner of the said premises, Trout Unlimited Property Management Co., LLC, a
Wyoming Limited Liability Company is about to execute and deliver to the Second Party, Note secured by a
Mortgage dated June 25, 2010, and recorded in the office of the Recorder of Lincoln County, State of Wyoming,
on June 29, 2010, in Book 749, at Page 837, as Filing No. 954166, in the sum of $350,000.00, covering said
premises, and
WHEREAS, the Second Party has refused to accept said Mortgage, unless the Mortgage above described be
subordinated in the manner herein after mentioned.
NOW, THEREFORE, in consideration of the premises and to induce the Second Party to accept the said
Mortgage from Trout Unlimited Property Management Co., LLC, a Wyoming Limited Liability Company and
also in consideration of $1.00 paid to the undersigned, the receipt whereof is hereby acknowledged, the
undersigned hereby covenants and agrees with the Second Party that said Mortgage owned and held by the
undersigned be and shall continue to be subject and subordinate in lien to said Mortgage of the Second Party as
follows:
The Mortgage in favor of the undersigned shall be completely subordinate to the new Mortgage in favor of
the Second Party.
and also to all advances heretofore made or which hereafter may be made thereon (including but not limited to all
sums advanced for the purpose of paying brokerage commissions, recording fees, fee for examination of title,
surveys, and any other disbursements and charges in connection therewith) to the extent of the last- mentioned
amount and interest, and all such advances may be made without notice to the undersigned, and to any extensions,
renewals, and modifications thereof.
THIS AGREEMENT may not be changed or terminated orally. This Agreement shall bind and endure to the
benefit of the parties hereto, their respective heirs, personal representatives, successors and assigns.
IN WITNESS WHEREOF, the undersigned has duly executed this Agreement the day and year first above
written.
State of
County o ss:
RECEIVED 8/2/2010 at 4:50 PM
RECEIVING 954660
BOOK: 751 PAGE: 455
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Charles C. Burnham
p ersonally appeared before me Charles C. Burnham the signer of the within instrument,
who duly acknowledged to me that he executed the same.
7Haf
Notary Puj
i '455
MARGARET WATKIN CAMPBELL
NOTARY Pusuc, CALBOuN COUNT Mi
Wlrr CoMMtsIMON BOWS SEPL18, 2011