HomeMy WebLinkAbout970448Prepared By
Jodie Whelan
National Real Estate
100 Beecham Drive
Pittsburgh, PA 15205
When Recorded Return To:
lndecomm Global Services
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This agreement made this i day of January, 2010.
SUBORDINATION AGREEMENT
I) 0 ,2 3
RECEIVED 4/11/2013 at 3:08 PM
RECEIVING 970448
BOOK: 809 PAGE: 233
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Between 1 Bank, (referred to as subordinating creditor), and Bank of America, NA., (hereinafter referred
to as favored creditor), witnesseth:
That in consideration of subordinating creditor entering into this subordination agreement, favored
creditor agrees to lend Not to Exceed, $101,000.00, in accordance with that certain agreement between
favored creditor and Donald H. Wooden, and Patsy M. Wooden, husband and wife, 104 Highway 89,
Alpine Wyoming, 83128
In consideration of favored creditor making aforesaid loan to debtor, subordinating creditor agrees that
the lien (hereafter "lien executed in its favor by original debtor, as tenants who acquired title by deed
recorded on April 22, 2009, Book, 721 and Page, 137, in the amount of, $78,00.00, and in favor of 1sT
Bank, among the land records of the, County of Lincoln, State of, Wyoming, be subject, inferior,
junior, secondary and subordinate to a mortgage which is executed by debtor in favor of favored creditor
as security for the aforesaid loan, and that said mortgage and debt in favor of favored creditor shall have
priority over said mortgage and debt in favor of subordinating creditor, with respect to the property
legally described in the mortgage executed in favor of subordinating creditor described above. See
Exhibit A attached hereto.
Provided, however, that this agreement to subordinate shall not extend to any advances made by favored
creditor after the date of the loan described above (except that this subordination agreement shall extend
to any future advances made for taxes and insurance to protect favored creditor's interest), and provided
however, that this Agreement is based upon favored creditor's representation that subordinating creditor
will not be reduced to less than a second mortgage position by virtue of executing this Agreement.
By: 1st RANK by Penny Jones
(Pri a r e)
(Sign)
STATE OF) WYOMING
COUNTY OF) Lincoln
NOTARY PUBLIC
gn e u y r� es ,I pine ranch
President
Subordinating Creditor
SS:
On this 7th day of January A.D. 2010, before me, a Notary Public in and for said county,
personally appeared
to me personally known, who being by me duly sworn did say that they are president and assistant
secretary respectively of said corporation, that the seal affixed to said instrument is the seal of said
corporation and that said instrument was signed and sealed on behalf of the said corporation by authority
of its board of directors and the said officer acknowledged the execution of said instrument to be the
voluntary act and deed of said corporation by it voluntarily executed.
gUv IF., GRIFFIN NOTARY PUBLIC
COWW:TY OF STATE OF
WrOMRNG
LINCOLN k 3: r 2011 OGIOKIt 19,
�}g Cp�SSWtM E
EXHIBIT "A"
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF Lincoln, STATE OF
Wyoming, AND IS
DESCRIBED AS FOLLOWS:
THAT PART OF THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER (NE1 /4SW1/4) OF
SECTION 29,
TOWNSHIP 37 NORTH, RANGE 118 WEST, LINCOLN COUNTY, WYOMING, IT BEING THE INTENT
TO REDESCRIBE
THAT TRACT OF RECORD IN THE OFFICE OF THE CLERK OF LINCOLN COUNTY IN BOOK 94 OF
PHOTOSTATIC
RECORDS ON PAGE 368, DESCRIBED AS FOLLOWS:
BEGINNING AT A PLACE MARKED BY A 5/8" STEEL REINFORCING ROD WITH ALUMINUM CAP
INSCRIBED
"NELSON ENGR PE /LS578 NORTH 62 °46' EAST, 128.6 FE ET FROM A MONUMENT INSCRIBED
"2371+92.00 100 LT"
ON THE NORTHERLY RIGHT -OF -WAY LINE OF STATE HIGHWAY 89, NORTH 58`54' EAST, 205 2.30
FEET FROM
THE SOUTHWEST CORNER OF LOT 5 OF SAID SECTION 29; THENCE NORTH 26 °48' WEST, 128.0
FEET ALONG
THE EAST LINE OF THAT TRACT OF LAND NOW BELONGING TO WARDELL JENKINS TO A POINT;
THENCE
NORTH 57 '31' EAST, 198.25 FEET TO A POINT ON THE WE ST LINE OF THAT TRACT OF RECORD
IN THE SAID
OFFICE IN BOOK 131 OF PHOTOSTATIC RECORDS ON PAGE 232; THENCE SOUTH 37 '52' EAST,
146.80 FEET
ALONG THE SAID WEST LINE TO A POINT WITHIN THE BOUNDS OF SAID STATE HIGHWAY 89;
THENCE SOUTH
6221' WEST, 225.4 FEET TO THE POINT OF BEGINNING;
ENCOMPASSING AN AREA OF 0.66 ACRES, MORE OR LESS; EACH POINT MARKED BY A STEEL
T- SHAPED STAKE
24" LONG WITH METAL CAP INSCRIBED "PAUL N. SCHERBEL SURVEY POINT RLS164
SUBJECT TO THE RIGHT -OF -WAY FOR STATE HIGHWAY 89;
EXCEPTING THEREFROM THE EASTERLY FORTY (40) FEET OF THE FOREGOING TRACT
MEASURED
PERPENDICULAR TO THE EASTERLY LINE LEAVING THE TOTAL ACREAGE TO BE CONVEYED AS
0.53 ACRES;
THE BASE BEARING FOR THIS SURVEY IS THE WEST LINE OF LOT 5 OF SECTION 29, TOWNSHIP
37 NORTH,
RANGE 118 WEST NORTH 00D4' WEST; AND
FURTHER, IT IS STIPULATED THAT THE EASEMENT OF RECORD IN THE SAID OFFICE IN BOOK
132 OF
E� 0235
PHOTOSTATIC RECORDS ON PAGE 295 IS HEREBY RELINQUISHED; ALL IN ACCORDANCE WITH
THE PLAT
PREPARED TITLED, "DONALD H. WOODEN PLAT OF TRACTS IN NORTHEAST QUARTER OF THE
SOUTHWEST
QUARTER (NE1/4S1/4), SECTION 29 T37N R118W LINCOLN COUNTY, WYOMING TO BE FILED IN
THE SAID
OFFICE.
Parcel ID: 12- 3718- 29 -3 -00- 012.00
Commonly known as 104 HIGHWAY 89, Alpine, WY 83128
However, by showing this address no additional coverage is provided
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