HomeMy WebLinkAbout955544RECORDING REQUESTED BY
Fidelity National Agency Solutions
WHEN RECORDED MAIL TO:
NAME Document Processing
Solutions
MAILING 590 W. Lambert Rd
CITY, STATE Brea, Ca
ZIP CODE 92821
LSN- 9397355
Subordination Agreement
MBNA P t'v1Cr Icat (eIcware)
Grantor: Cesar Torres
Grantee: Bank of America, N.A.
RECEIVED 9/16/2010 at 3:14 PM
RECEIVING 955544
BOOK: 753 PAGE: 761
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
0007!1
When recorded mail to:
LSI —OS Recording
Kay McClure
5039 Dudley Blvd
McClellan, CA 95652 I l 1
(800) 964-3524
ESC RO W /CLOSING 220389075
SUBORDINATION AGREEMENT
SUBORDINATION AGREEMENT
0 I 762
SPACE ABOVE FOR RECORDERS USE
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.
THIS SUBORDINATION AGREEMENT is made this Twenty -fifth day of August, 2010, by
MBNA AMERICA (Delaware),N.A. its successors and /or its assigns to BANK OF AMERICA, N.A.,
its successor merger to Countrywide Bank F.S.B. "Subordinated Lienholder with a place of
business at 4500 PARK GRANADA, CALABASAS, CA 91302 -1613.
WHEREAS, CESAR TORRES executed and delivered to Subordinated Lienholder, a Deed of
Trust/Mortgage (the "Existing and Continuing Security Instrument in the sum of $16000.00 dated
12/24/2003 and recorded in Book Volume 545, Page_533 -537, as Instrument No. 896409, in the
records of LINCOLN County, State of WY, 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 11 BRAMBLEBERRY DR, THAYNE, WY 83127 and further described on Exhibit "A,"
attached.
000763
WHEREAS, CESAR TORRES "Borrower executed and delivered to Bank of America, N.A.
"Lender a deed of trust/mortgage in the principal amount not to exceed $119000.00, which deed of
trust/mortgage (the "New Security Instrument") is intended to be recorded herewith in the records of
LINCOLN County, State of WY 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:
(1) 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
000764
(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.
MB A AMERICA (Delaware),N.A. its successors and /or its assigns to BANK OF AMERICA, N.A., its
suc ssor merg r to Co„ ntrywide Bank F.S.B.
Jennifer GaIIu
o Assistant Vice President
STATE OF C a600 1 0
COUNTY OF p
WITNES y hand and official seal.
Signature
ATTENTION NOTARY:
ALL PURPOSE ACKNOWLEDGMENT
000765
On 08/25/2010 before me, 05Ci IV t r4-tKeZ. (notary) personally appeared Jennifer
Galluzzo Assistant Vice President, of NA AMERICA (Delaware),N.A. its successors and /or
its assigns to BANK OF AMERICA, N.A., its successor merger to Countrywide Bank F.S.B
personally known to me (or proved to me on the basis of satisfactory evidence) to be the
person(s) whose name(s) is /are subscribed to the within instrument and acknowledged to me that
he /she /they executed the same in his /her /their authorized capacity(ies), an that by his /her /their
signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s)
acted, executed the instrument.
AIt oug the information reques a bel is OPTIONAL, it could prevent
fraudulent attachment of this certificate to another document.
THIS CERTIFICATE MUST BE ATTACHED TO Title of Document Type 10 I JA ,Tj Q57�
THE DOCUMENT DESCRIBED AT RIGHT Number of Pages Date of Document
Signer(s) Other Than Named Above
CHICAGO TITLE INSURANCE COMPANY
AS ISSUING AGENT 1- 800 943 -1196
Parcel ID: 12- 3419- 01 -2 -01- 001.00
LEGAL DESCRIPTION
EXHIBIT "A"
Title No LSN- 9397355
000766
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF Lincoln, STATE OF
Wyoming, AND IS DESCRIBED AS FOLLOWS:
LOT 2 OF STAR VALLEY RANCH PLAT 5, LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE
OFFICIAL PLAT THEREOF.
Commonly known as 11 Brambleberry Drive, Thayne, WY 83127
However, by showing this address no additional coverage is provided