HomeMy WebLinkAbout872664RECORDING REQUESTED BY
FIRST AMERICAN TITLE
AND WHEN RECORDED MAIL TO:
The Bank of Jackson Hole
990 W. Broadway
Jackson Hole, WY 83002
A.P.N.:
Order No.: 7488M
THIS AGREEMENT, made this 13 day of March, 2001, by
872664
BOOK
462 PR PAGE. 5 3 3
SUBORDINATION AGREEMENT
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.
Hudson L. England and Carol England,
Owner of the land hereinafter described and hereinafter referred to as "Owner," and
WITNESSETH
Space Above This Line for Recorder's Use Only
Escrow No.: 482216
The Bank of Jackson Hole present owner and holder of the mortgage and note first hereinafter described and
hereinafter referred to as `Beneficiary
SUBORDINATION AGREEMENT CONTINUED ON NEXT PAGE
RECEIVED
LINCOLN COUNTY CLERK
01 APR 13PH3:8
J ANNE 'VAC;NEf
KEMMERE_F, !aYOMZN
THAT WHEREAS, Owner has executed a mortgage, dated March 1, 1999 covering the following property:
COMPLETE LEGAL DESCRIPTION SET FORTH IN EXHIBIT "A" ATTACHED HERETO AND MADE
A PART HEREOF.
To secure a note in the sum of 62,600.00, dated March 1, 1999, in favor of Hudson L. England and Carol England,
which mortgage was recorded on March 10, 1999, in Book 427PR on page 161, Official Records of Lincoln County,
State of Wyoming; and
WHEREAS, Owner has executed, or is about to execute, a mortgage and note in a sum not greater than $250,200.00,
dated not later than April 13, 2001, in favor of Indymac Bank, F.S.B., hereinafter referred to as "Lender payable
with interest and upon the terms and conditions described therein, which mortgage is to be recorded concurrently
herewith; and
WHEREAS, it is a condition precedent to obtaining said loan that said mortgage last above mentioned shall
unconditionally be and remain at all times a lien or charge upon the land herein before described, prior and superior
to the lien or charge of the mortgage first above mentioned; and
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BENEFICIARY: The Bank of Jackson Hole
By
Signature
Print Name SANDRA L KROGH
Title
STATE OF WYOMING
County of TETON
On 4,4,,(J /(0 -2t9 before me,
personally appeared SANDRA L KROGH
CAROLS► CRAW NOTARY PUBLIC
County at Mete of
Teton Wyoming
My Commission Expires 9-18 -2004
STATE OF
County of
ASSISTANT VICE PRESIDENT
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS AGREEMENT, THE PARTIES
CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO.
(CLTA SUBORDINATION FORM `B
Ss.
CONTINUATION OF SUBORDINATION AGREEMENT
Ss.
5 3 5
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), and 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.
Witness my hand and official seal.
,i174
Notary Public in said County and State
On before me,
personally appeared
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), and 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.
Witness my hand and official seal.
Notary Public in said County and State
EXHIBIT "A"
Beginning at a spike on the westerly right of way line of Lancaster Lane County
Road 12-147, N 03 °54'21" W, 913.63 feet from the southeast corner of said
W'3iSW
thence N 88 0 18'51" W, 30.44 feet to a spike;
thence S 48 °31'31" W, 95.74 feet to a spike at the beginning of a
circular curve to the right;
thence westerly, along the arc of said curve, 48.51 feet, through a
central angle of 79 °24'40" with a radius of 35.00 feet to a spike;
thence N 52 °03'49" W, 103.56 feet to a spike;
thence N 11 °03'16" W, 81.99 feet to a spike at the beginning of a
circular curve to the left;
thence northwesterly, along the arc of said circular curve, 141.13 feet,
through a central angle of 55 °53'10" with a radius of 144.69 feet to
a spike;
thence N 66 °56'26" W, 125.01 feet to a spike at the beginning of a
circular curve to the right;
thence northwesterly, along the arc of said circular curve, 86.45 feet,
through a central angle of 41 with a-radius of 118.34 feet to
a spike;
thence N 25 0 04'57" W, 32.00 feet at the beginning of a circular curve to
the left;
thence northwesterly, along the arc of said circular curve, 191.09 feet
through a central angle of 83°20'41" with a radius of 131.37 feet to
a spike at the beginning of a circular curve to the right;
thence southwesterly, along the arc of said circular curve, 140.00 feet
through a central angle of 18 °23'37" with a radius of 436.09 feet to
a spike;
thence S 89 °57'59" W, 43.46 feet to a spike;
thence S 20 °47'52" E, 232.98 feet to a point on the westerly line of the
above described tract, N 26 0 17'26" E, 244.52 feet from the westerly
most point of said tract;
the northerly and southerly right of way lines of the above described easement
to be shortened or lengthened as necessary to meet the westerly right of way
line of said Lancaster Lane County Road No. 12 147 and the northwesterly
boundary line of the above described tract.
The Jand referred to in this commitment is situated in the State of Wyoming, County of Lincoln, and is
described as follows:
53 j
That part of the Wi4S10,4 of Section 24, T31N R119W of the 6th P.M., Lincoln
County, Wyoming, being part of that tract of records in the Office of the Clerk
of Lincoln County in Book 370PR on page 640, described as follows:
Beginning at a point N 23 0 58'00" E, 923.75 feet from the southwest corner of
said Section 24;
thence S 63 0 42'22" E, 208.72 feet to a point;
thence N 26 0 17'26" E, 417.42 feet to a point;
thence N 63 °42'22" W, 208.72 feet to a point;
thence S 26 °17'26" W, 417.42 feet to the point of beginning.
TOGETHER WITH the right of ingress and egress and public utilities over and
across a strip of land thirty feet in width, with the centerline described as
follows: