HomeMy WebLinkAbout970975E
L
w oc
r
C X
C
P CC 2
(1) 0 a
E
c a
a
ATEC 186557
Prepared By:
CHRISTOPHER HUNDLEY
After Recording Return To:
BANK OF AMERICA, N.A.
Doc Processing TX2- 979 -01 -19
4500 Amon Carter Blvd.
Ft. Worth, TX 76155
RPC/Parcel ID
Property:
77638 HWY 89
SMOOT
WY 83126
Subordination Agreement
11268 -XX (12/08)(d/i) Page 1 of 4
Section:
Block:
[Space Above This Line For Recording Data]
RECEIVED 5/14/2013 at 12:51 PM
RECEIVING 970975
BOOK:811 PAGE:429
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
SUBORDINATION AGREEMENT
00024682860104013
[Doc ID
5
Lot: 3
Unit:
v I i H 1 11ii I
2 3 9 9 1 2 4 6 8 2 8 6 0 1 0 0 0 0 0 1 1 2 6 8*
BACKGROUND
DOC ID 00024682860104013
THIS SUBORDINATION AGREEMENT is entered into on
among "11 ("Borrower"),
C3-“Ns. c -Y i c =w "First Lienholder
and fSem v "Second Lienholder
1. "Borrower signed a promissory note dated 16, 2009 in the principal sum of
124,200.00 secured by a Deed of Trust/Mortgage of the same date, delivered to First
Lienholder and recorded on rlarch 20, 2009 in Volume PR714 Page
234 of the Official Public Records of Linc oln County,
Wyoming (the "First Lien which is a valid and existing lien on the real property
described on Exhibit "A" attached to this Agreement "Property").
2. Borrower signed a promissory note dated /farc L /q, 2ct)y' in the principal sum of
30, oco, secured by a Deed of Trust/Mortgage of the same date, delivered to Second
Lienholder and recorded on 3 a (o- Oct a,4- q:..26 ?Y 1 in Volume 71K Page
779 of the Official Public Records of ,limo /n. &u at -k, County,
6(e.ru'(..1c1r 0 Y (the "Second Lien which is a v id and existing lien on the Property.
3. Borrower desires to modify the debt secured by the First Lien to increase the principal balance to
4. First Lienholder is willing to modify the debt secured by the First Lien if the Second Lien is
unconditionally and remains at all times subordinate and inferior to the First Lien and Second Lienholder
specifically and unconditionally subordinates the Second Lien to the First Lien.
AGREEMENT
2. First Lienholder would not modify the debt secured by the First Lien without this Agreement.
To induce First Lienholder to increase the principal balance of the First Lien, and for the benefit of all parties,
the parties agree as follows:
1. The First Lien, and any renewals or extensions, is unconditionally and will remain at all times prior and
superior to the Second Lien.
3. Second Lienholder consents to the principal increase of the First Lien and specifically and unconditionally
subordinates the Second Lien to the First Lien.
Subordination Agreement
11268 -XX (12/08) Page 2 of 4
3 4
DOC ID 00024682860104013
4. First Lienholder is under no obligation or duty to Second Lienholder regarding the application of First Lien
loan proceeds or the use of any First Lien loan proceeds for purposes other than those agreed to by First
Lienholder and Borrower. Any misapplication or misappropriation of loan proceeds secured by the First
Lien will not defeat the subordination made in whole or in part by this Agreement.
5. Second Lienholder understands that First Lienholder is relying on the terms of this Agreement to enter into
specific monetary and other obligations which it would not enter into but for the reliance upon the terms of
this Agreement.
THIS SUBORDINATION AGREEMENT ALLOWS FOR A PRINCIPAL INCREASE IN THE DEBT
Subordination Agreement
11268 -XX (12/08) Page 3 of 4
DOC ID 00024682860104013
SECURED BY THE FIRST LIEN, WHICH MAY BE EXPENDED FOR PURPOSES OTHER THAN
IMPROVEMENTS TO THE LAND. 1St BANK AFTON
FIRST LIENHOLDER: SECOND LIENHOLDER: DIVISION OF GLACIER BANK
By: By:
Its: Its:
Borrower Borrower
Borrower
5 7K7 F_ o WYom
55
C b c�ndTY OF tIAfCoc.nl
SAte
Borrower
[NOTARY SEAL AND FORM]
G
U 3
NE Fo2E6Oird6 fn(S7ev w4-5 A ('EFc ee
OTE B Y COLTS T ifrS 'a57`f DAY of APrea, a6/3.
GO TN E55 nit y Atsc A.Ni0 o RF c oic-
Subordination Agreement
11268 -XX (12/08) Page 4 of 4
CHRIS ALLRED NOTARY PUBLIC
County of State of
Lincoln Wyoming
My Commission Expires July 9, 2016