HomeMy WebLinkAbout960911NOTICE:
THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE
PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LEIN OF SOME
OTHER OR LATER SECURITY INSTRUMENT.
This instrument is made as of August 16, 2011, by Meridian Trust Federal Credit Union a Corporation, having
its principal place of business at Cheyenne WY.
A. MERIDIAN TRUST F.C.U. is the holder of a note secured by a mortgage (the "Second Mortgage on
the Mortgaged Property, dated October 14, 2008 executed by Lee Pence, a single person, and recorded
on OCTOBER 29, 2008, AS INSTRUMENT NO., BOOK 708, PAGE 20 in the property records of
TETON COUNTY, WY, pertaining to the real estate located at and further described as follow (the
Mortgaged Property):
B. The Second Mortgage held by MERIDIAN TRUST F.C.U. is junior and subordinate to a Mortgage (the
"First Mortgage held by Wells Fargo Bank, NA on the Mortgaged Property, that Lee Pence, a single person,
the owner of the Mortgaged Property desire to refinance the First Mortgage loan on the Mortgaged Property.
For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, MERIDIAN
TRUST F.C.U. agrees as follows:
1. The Second Mortgage held by MERIDIAN TRUST F.C.U. shall be subject and subordinate to a new
mortgage "New Mortgage securing a loan originated by Wells Fargo Bank, NA pertaining to the
Mortgaged Property and securing a note in an original principal amount not to exceed $280,000.00
(TWO HUNDRED EIGHTY THOUSAND DOLLARS AND ZERO CENTS) bearing interest at a
rate not to exceed 4.875% per annum, and made primarily for the purpose of refinancing the First
Mortgage loan. Mortgage recorded
5e4) i un e-rC -0 I J
Book 11 a- Page q-j14 -9)
2. MERIDIAN TRUST F.C.U. acknowledges that Wells Fargo Bank, NA is relying on this instrument in
making the loan secured by the New Mortgage. MERIDIAN TRUST F.C.U. agrees that the new Mortgage
shall have the same validity, priority, and effect as if executed, delivered and recorded prior to the date of the
Second Mortgage, provided, however, that nothing in this instrument shall in any way alter, change or modify
the terms and conditions of the Second Mortgage, or in any way release or affect the validity or priority of the
Second Mortgage, except as provided herein.
Entered this 16TH DAY OF AUGUST, 2011.
MERIDIAN TRUST FEDERAL CREDIT UNION
By:
6011120133
Lot Seven, Star Valley Ranch Plat Twenty Two, as Platted and recorded July 3, 1981 at document
Number 638845 Map Number 318 in the office of the Clerk, Lincoln County, Wyoming.
Monte Robert Vice President/Chief Lending Officer
STATE OF WYOMING
COUNTY OF LARAMIE
On this 16TH day of AUGUST, 2011, before me, a Notary Public, personally appeared Monte Roberts, to me
personally known to be the Vice President/Chief Lending Officer of MERIDIAN TRUST FEDERAL CREDIT
UNION, and who being by me duly sworn, subscribed his name to the foregoing instrument as an officer of said
corporation and acknowledged the execution of such instrument as the voluntary act and deed of said
corporation.
Notary Public:
SUBORDINATION AGREEMENT 0 0 0 5 6 8
My Commission Expires:
RECITALS
RECEIVED 9/9/2011 at 2:23 PM
RECEIVING 960911
BOOK: 772 PAGE: 568
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Beverly Dowling NOTARY PUBLIC
County of State of
Laramie Wyoming
My Commission Was Pommy 4,101 i
EXHIBIT "A"
Legal Description
A Parcel of land situated in the County of Lincoln, and State of Wyoming:
SG
Lot 7 of Star Valley Ranch Plat 22, Lincoln County, Wyoming as described on the
official plat tiled on July 3, 1985 as instrument No. 639243 of the records of the Lincoli
County Clerk,
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Aliquippa, PA 15001