HomeMy WebLinkAbout9565496011019399
8255558234
WHEN RECORDED MAIL TO:
GMAC Mortgage LLC
1100 Virginia Dr,
Fort Washington, PA 19034
Prepared by: Trina Jackson
SUBORDINATION AGREEMENT
THIS SUBORDINATION AGREEMENT, made October 23, 2010, present owner and holder of the
Mortgage and Note first hereinafter described and hereinafter referred to as GMAC Mortgage, LLC
F/KJA GMAC Mortgage Corporation.
WIT NESSETH:
THAT WHEREAS Bernard William Rapp, Sr and Judith Ann Rapp, husband and wife,
residing at 4393 S Turnerville Rd, Bedford, WY 83112, did execute a Mortgage dated 3/8/2008 to GMAC
Mortgage, LLC F/K/A GMAC Mortgage Corporation covering:
SEE ATTACHED
To Secure a Note in the sum of 80,000.00 dated 3/8/2008 in favor of GMAC Mortgage, LLC F/K/A
GMAC Mortgage Corporation, which Mortgage was recorded 4/3/2008 as Book 691PR, Page 233.
WHEREAS, Owner has executed, or is about to execute, a Mortgage and Note in the sum of
113,000.00 dated November 1, 2OJ 1 favor of Eagle Home Mortgage, its successors and or
assigns as their interests may appear, here in after 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 Lender's 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 GMAC Mortgage, LLC F/K/A GMAC Mortgage
Corporation mortgage first above mentioned.
NOW THEREFORE, in consideration of the mutual benefits accruing to the parties hereto, and
other valuable consideration, the receipt and sufficiency of which 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:
CONDITION
RECEIVED 11/5/2010 at 1:05 PM
RECEIVING 956549
BOOK: 756 PAGE: 736
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
(1)That said mortgage securing said note in favor of Lender, shall unconditionally be and
remain at all times a lien or charge on the property therein described, prior and superior
to the lien or charge of GMAC Mortgage, LLC mortgage first above mentioned,
including any and all advances made or to be made under the note secured by GMAC
Mortgage, LLC mortgage first above mentioned.
(2)Nothing herein contained shall affect the validity or enforceability of GMAC
Mortgage, LLC mortgage and lien except for the subordination as aforesaid.
WITNESSED BY:
B QX�-7 6
Latas a Cotton
By:
im Johnson
Latas a Cotton
L 0))
By:
Johnson Title: Limited Signing Officer a4 ,1»ttost
47 00 R TG 0
COMMONWEALTH OF PENNSYLVANIA
On (D J 1(6 before me Tamika Scott the undersigned, a Notary Public in and for said
County and State, personally appeared Linda Walton personally known to me (or proved to me on the
basis of satisfactory evidence) to be the Limited Signing Officer and Marnessa Birckett personally
known to me (or proved to me on the basis of satisfactory evidence) to be the Limited Signing Officer of
the Corporation that executed the within instrument, and known to me to be the persons who executed the
within instrument on behalf of the corporation therein named, and acknowledged to me that such
c• eoration executed the same, pursuant to its bylaws, or a resolution of its Board of Directors.
COUNTY OF MONTGOMERY
d offic al seal.
W
NES
GMAC Mortgage, LLC
By: aitcall'a-1104/L---
Linda Walton
Title: Limited Signing Officer
Attest:
:SS
essa Birckett
CO OF PENNSYLVANIA
w Notarial Seal
Tarnika Scott, Notary Public
Horsham Twp., Montgomery County
My Commission Expires Nov. 27, 2010
Member, Pennsylvania Association of Notaries
CONDITION
000737
2006