HomeMy WebLinkAbout965022Recording Requested prepared by:
Gail Postlewaite
Allied First Bank
3201 Orchard Road
Oswego, IL 60543
Allied First Bank
3201 Orchard Road
Oswego, IL 60543
go 6 0 0 -1
This Subordination Agreement dated April 12, 2012 by Allied First Bank, whose
mailing address is 3201 Orchard Road, Oswego IL 60543.
Witnesseth:
SUBORDINATION OF LIEN
Whereas, Allied First Bank is the owner and holder of certain indebtedness secured by a
Mortgage or Deed of Trust, executed on the 28 day of April, 2008 by M. DANIEL
CAREY AND NANCY SUE CAREY, HUSBAND AND WIFE, AS TENANTS
"Borrowers as Debtors in favor of ALLIED FIRST BANK. Said Mortgage or Deed
of Trust is recorded in the official records of the Recorder of Lincoln County, Wyoming
on May 9, 2008 as Receiving 938872, Book 694, Page:167 and is made a part hereof by
reference; and
Whereas, Borrowers are the owners of that certain parcel of real estate commonly known
as _1055 County Road 125, Thayne, WY 83127 -9718 and more specifically described as
follows:
AFTER RECORDINu
DOCUMENT PROCESSING SOLUTIONS, IN(
590 W. LAMBERT RD
BREA, CA92821
Legal Description:
PERMANENT PARCEL NO.: 31491530020400
0604
RECEIVED 6/11/2012 at 2:56 PM
RECEIVING 965022
BOOK: 787 PAGE: 604
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
A TRACT OF LAND IN THE SE /4 SW /4 OF SECTION 15, T34N R119W OF THE 6TH
P.M., LINCOLN COUNTY, WYOMING, BEING MORE, PARTICULARLY
DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF A
TRACT OF RECORD FOUND IN BOOK 147PR, PAGE 564 IN THE OFFICE OF THE
LINCOLN COUNTY CLERK, AND RUNNING THENCE WEST 114.47 FEET,
ALONG THE NORTH LINE OF THE MARK LARSEN TRACT; THENCE NORTH
300 FEET; THENCE EAST 214.47 FEET; THENCE SOUTH 300 FEET, MORE OR
LESS, TO THE SOUTHEAST CORNER OF THE ABOVE DESCRIBED TRACT OF
RECORD; THENCE WEST, ALONG THE SOUTH LINE OF SAID TRACT OF
RECORD 100.00 MORE OR LESS TO THE POINT OF BEGINNING SUBJECT TO
RESTRICTIONS, RESERVATIONS, EASEMENTS, COVENANTS, OIL, GAS OR
MINERAL RIGHTS OF RECORD, IN ANY.
Whereas, Allied First Bank, sb, its successors and /or assigns "Mortgagee who's
mailing address is 3201 Orchard Road, Oswego, IL 60543 has refused to make a loan to
the Borrowers of $278,000.00 except upon condition that the Mortgage or Deed of Trust
be subordinate to said Mortgage or Deed of Trust of Mortgagee.
Now therefore, in consideration of the sum of ten ($10.00) dollars in hand paid by each
of the parties hereto to the other, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged and in order to induce Mortgagee to
make the loan to borrowers, it is hereby mutually agreed, as follows:
1. That Allied First Bank covenants and consents that the lien of its Mortgage or
Deed of Trust shall be subject and subordinate to the lien of Mortgagee's
Mortgage or Deed of Trust with Allied First Bank, sb reflecting and
securing the loan made by Mortgagee to Borrowers, in the amount of
dollars.
2. That this Subordination Agreement shall be binding upon the successors
and /or assigns of the undersigned and shall inure to the benefit of the
Mortgagee, or its successors and/or assigns.
3. Except as expressly described above, the terms of the original Mortgage or
Deed of Trust shall remain unchanged and in full force and effect. Consent by
Allied First Bank to this Subordination Agreement does not waive any rights
to require strict performance of the Mortgage or Deed of Trust as changed
above or obligate Allied First Bank to make any future agreement. Nothing in
this Subordination Agreement shall constitute a satisfaction of the promissory
note or other credit agreement secured by the Mortgage or Deed of Trust (the
"Note It is the intention of the Allied First Bank to retain as liable all
parties to the Mortgage or Deed of Trust and all parties, makers, and endorsers
to the note, including the accommodation parties, unless the Allied First Bank,
in writing, expressly releases a party.
In Witness Whereof, Allied First Bank has executed this subordination agreement on
this 12 day of April, 2012.
Allied First. bv:
Steve De Amico, Sr. Vice President
STATE OF ILLINOIS}
COUNTY OF DuPage} ss.
The foregoing instrument was acknowledged before me this 12`" day April, 2012 by
Steve De Amico and Shameron S. Schofield of Allied First Bank, who are
personally known to me and signed on behalf of t bank.
Notary Seal:
OFFICIAL WEAL
GAIT. PO ,TLEINAI T &:E
NOTARY PUDLIC, STATE OF ILLINOIS
MY COMMISSION EXPIRES 2 -1 8 -2013
Shameron S. Schofield, Asst. ice sident
ail Postlewaite, Notary Public, State of Illinois
00605