HomeMy WebLinkAbout970473Recording Requested By /Return To:
Wells Fargo
P.O. Box 31557
MAC B6955 -013
Billings, MT 59107 -9900
This Instrument Prepared by:
Wells Fargo
P.O. Box 4149 MAC P6051 -019
Portland, OR 97208 -4149
1- 800 945 -3056
Parcel/UPI N/A
Account Number: XXX- XXX- XXX7812 -1998
Effective Date: 3/13/2013
Owner(s): WAYNE M MERRITT
KAREN D MERRITT
[Space Above This Line for Recording Data]
SUBORDINATION AGREEMENT FOR
LINE OF CREDIT MORTGAGE
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RECEIVED 4/12/2013 at 4:37 PM
RECEIVING 970473
BOOK: 809 PAGE: 349
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
Reference Number: 7036375048
Current Lien Amount: $25,000.00.
Senior Lender: Wells Fargo Bank, N.A.
Subordinating Lender: Wells Fargo Bank, N.A.
If Wells Fargo Bank, N.A. is subordinating to Wells Fargo Bank, N.A., this document is notice that the lien securing
the loan or line of credit serviced by the Wells Fargo Bank Home Equity Group is subordinated to the first lien loan
being originated or modified by the Wells Fargo Home Mortgage Group.
Property Address: 200 1ST SOUTH AVE, AFTON, WY 83110
HE360 SUB WY (rev 20120217) Page 1 of 3
0000000000685378
THIS AGREEMENT (the "Agreement effective as of the Effective Date above, is made by and among the
Subordinating Lender, Owners and the Senior Lender named above.
WAYNE M. MERRITT AND KAREN D. MERRITT, HUSBAND AND WIFE, AS TENANTS BY THE
ENTIRETIES (individually and collectively the "Owner own the real property located at the above Property
Address (the "Property").
The Subordinating Lender has an interest in the Property by virtue of a Line Of Credit Mortgage (the "Existing
Security Instrument given by the Owner, covering that real property, more particularly described as follows:
See Exhibit A
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which document is dated the 18th day of April, 2007, which was filed in Book 659 at page 684 (or as No. 929811)
of the Official Records in the Office of the Recorder of the County of LINCOLN, State of Wyoming. The Existing
Security Instrument secures repayment of a debt evidenced by a note or a line of credit agreement extended to
WAYNE M MERRITT and KAREN D MERRITT (individually and collectively "Borrower by the Subordinating
Lender.
The Senior Lender has agreed to make a new loan or amend an existing loan in the original principal amount NOT
to exceed $170,500.00 (the "New Loan or Amended Loan provided that the New Loan or Amended Loan is
secured by a first lien mortgage on the Property (the "New Security Instrument in favor of the Senior Lender. If
the New Loan or Amended Loan exceeds this amount, the Subordination Agreement is VOID.
The Subordinating Lender is willing to subordinate the lien of the Existing Security Instrument to the lien of the
New Security Instrument under the terms set forth in this Agreement.
NOW, THEREFORE, for and in consideration of the above recitals, the covenants herein contained, and for good
and valuable consideration, the receipt of which is hereby acknowledged, the parties agree as follows:
A. Agreement to Subordinate
Subordinating Lender hereby subordinates the lien of the Existing Security Instrument, and all of its
modifications, extensions and renewals, to the lien of the New Security Instrument. This Agreement is effective
as to any sum whose repayment is presently secured or which may in the future be secured by the Existing
Security Instrument.
B. General Terms and Conditions
Binding Effect This Agreement shall be binding upon and inure to the benefit of the respective heirs, legal
representatives, successors and assigns of the parties hereto and all of those holding title under any of them.
Nonwaiver This Agreement may not be changed or terminated orally. No indulgence, waiver, election or
non election by New Lender or the trustee(s) under the New Security Instrument or related documents shall
affect this Agreement.
Severability The invalidity or unenforceability of any portion of this Agreement shall not affect the
remaining provisions and portions of this Agreement.
C. Signatures and Acknowledgements
The Subordinating Lender, through its authorized officer, has set its hand and seal as of the Effective Date above
unless otherwise indicated.
HE360 SUB WY (rev 20120217) Page 2 of 3
0000000000685378
SUBORDINATING LENDER:
(Signature)
.A.
Christopher L. Wheeler
(Printed Name)
Vice President Loan Documentation
(Title)
FOR NOTARIZATION OF LENDER PERSONNEL
STATE OF Virginia
)ss.
COUNTY OF Roanoke
MAR 13 2013
Date
HE360 SUB WY (rev 20120217) Page 3 of 3
0000000000685378
SANDRA JEAN WCAS
NOTARY PUBLIC 239947
COMMONWEALTH OF VIRGINIA
MY COMMISSION EXPIRES APRIL 30, 2016
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The foregoing Subordination Agreemen was acknowledged before me, a notary public or other official qualified to
administer oaths this day of e27/3 by Christopher L. Wheeler, as Vice
President Loan Documentation of Wells Fargo Bank, N.A., the Subordinating Lender, on behalf of said
Subordinating Lender pursuant to authority granted by its Board of Directors. S /he is personally known to me or has
produced satisfactory proof of his /her identity.
179911
EXHIBIT "A"
Part of Lot 2 of Block 3 to the Town of Afton, Lincoln County, Wyoming, being more
particularly described as follows:
Beginning at the Northwest Corner of said Lot 2 and running thence East 165 feet;
Thence South 185 feet;
Thence West 165 feet;
Thence North 185 feet to the point of beginning.
The above land shall not include trailers, manufactured homes, or other personal property.
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