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HomeMy WebLinkAbout954878When recorded mat_ Cache Valley Bank 101 North Main PO Box 3227 Logan, UT 84321 SUBORDINATION OF DEED OF TRUST This AGREEMENT made on 7 Z 76 between Cache Valley Bank the undersigned hereinafter referred to as First Party and Cache Valley Bank hereinafter referred to as Second Party. WITNESSETH WHEREAS, the undersigned is presently the holder of a Note secured by a Mortgage or Deed of Trust, as follows: Deed of Trust Grantor Christopher V. Howell and Kristin Howell, Husband and Wife Grantee Cache Valley Bank Recorded April 23, 2010 Document No. 953084 Book 745 Page 885 covering premises situated in the County of Lincoln, State of WY, to wit: LOT 58, OF ROCKBRIDGE MEADOWS FIRST ADDITION TO THE TOWN OF AFTON, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT NO. 360 -D FILED JULY 14, 2005 AS INSTRUMENT NO. 909983 OF THE RECORDS OF THE LINCOLN COUNTY CLERK. and more fully described in said Mortgage or Deed of Trust, and WHEREAS, the present owner of the said premises, is about to execute and deliver to the Second Party, Note secured by a Mortgage or Deed of Trust dated g- e„ i0 and recorded in the office of the Recorder of Lincoln County, State of WY, on the id* it in Book 1 at Page "7 13 as Filing No. 964 K in the sum of 280 expo covering said premises, and WHEREAS, the Second Party has refused to accept said Mortgage or Deed of Trust, unless the Mortgage or Deed of Trust 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 or Deed of Tnist from 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 or Deed of Trust owned and held by the undersigned be and shall continue to be subject and subordinated in lien to said Mortgage or Deed of Trust of the Second Party as follows: The Mortgage or Deed of Trust in favor of the undersigned shall be completely subordinate to the new Mortgage or Deed of Trust in favor of the Second Party. and also to all advances heretofore made or which hereafter may be made thereon (including but not banned 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. Cache Valley B BY: State of WY) County of Lincoln)ss: On 21 2 0 (0 personally appeared before me lvho being duly sworn did sa that he is the L of r d at the within foregoing instrument was signed in behalf of said corporation by authority a eso u ion of its board of directors and who duly acknowledged to me that said corporation executed the same and that the seal affixed is the seal of said corporation. Notary Public OO81 o ti co t!) 0) (9 Z_ W U W lL'