HomeMy WebLinkAbout869874SUBORDINATION AGREEMENT
THIS AGREEMENT, made this 20th day of November
by Rico Chaparro, aka Rigo Chaparro and Lisa Chaparro
WITNESSETH
Recorded J/.. /iP /4 at 3 ;,5!
Book 156 Page 11.1 Kemmerer, WY
No. (I Y010.' i'; Jeanne Wagner, Clerk
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY
INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF
LOWER PRIORITY THAN TFIE LIEN OF SOME OTHER OR LATER
SECURITY INSTRUMENT.
owner of the land hereinafter described and hereinafter referred to as "Owner,"
and First Security Bank of Wyoming
present owner and holder of the mortgage and note first hereinafter described
and hereinafter referred to as "Mortgagee;"
THAT WHEREAS, Rico Chaprro, aka Rigo Chaparro and Lisa Chaparro
did execute a mortgage dated September 11, 1997 to
First Security Bank of Wyoming
as mortgagee, covering:
xpo 2000
Part of Section 19, T32N R118W of the 6th P.M., Lincoln County, Wyoming
more particularly described on Attached Exhibit A prepared by Marlowe
A. Scherbel labeled "Rigo Chaparro and Lisa Chaparro, Parcel B" dated
August 24, 2000.
to secure a note in the sum of 100,000.00 dated November 20, 2000,
in favor of First Security Bank of Wyoming
which mortgage was recorded September 18, 1997 in book 401PR
page 760 Official Records of said county; and
WIIEREAS, Owner has executed, or is about to execute, a mortgage and note
in the sum of 180,000.00 dated November 20, 2000 In
favor of First Security Bank, N.A.
hereinaftnr referred to as "Lender," payable with interest and upon the terms
and conditions described therein, which mortgage is to be recorded concurrently
(herewith; and
WHEREAS, it is a condition precedent to obtaining said loan that said mortgage
last above mentioned shall unconditionally be and remain at all times a lien or
charge upon the land hereinbefore described, prior and superior to the lien
or charge of the mortgage first above mentioned; and
WIIEREAS, Lender is willing to make said loan provided the mortgage securing
the same is a Tien or charge upon the above described property prior and
superior to the Ilen or charge of the mortgage first above mentioned and
provided that Mortgagee will specifically and unconditionally subordinate the
lien or charge of the mortgage first above mentioned to the Tien or charge of
the mortgage in favor of Lender; and
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Subordination Agreement
Page 3
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION
WIIICII ALLOWS THE PERSON OBLIGATED ON YOUR REAL
PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF
WHICH MAY BE EXPENDED FOR OTIIER PURPOSES THAN
IMPROVEMENT OF TIIE LAND.
FIRST SECURITY BANK. N
STATE OF Wyoming
COUNTY OF Lincoln
The foregoing instrument was acknowledged before me by
Steve A. Hartwell, Relationship Manager for First Security Bank, N.A.
Ka 2000
this 20th day of November
W 1 to u.-J11y. s1 L ts? f I 1
Kerry Millich Notary Public
County of State of
Lincoln ti !:s
�..F� Wyoming
My Commission Expires 8-12-2003
My Commission Expires:
STATE OF
COUNTY OF
County of
Lincoln
Mortgagee
Wyoming
Lincoln
State of
Wyoming
My Commission J iues 8-12-2003
My' Contra isston
Witness my hand and official seal.
,:._4x. y�...,�..,Eq.y�,,4y, q�'1t�'df�A^46_.rvr4• �_.c.
Kerry Millich Notary Public
August 12,2003
August 12, 2003
1
RIGO ARRO
SS
S
The foregoing instrument was acknowledged before me by Rigo Chaparro
and Lisa Chaparro
this 20th day of November
ill 2000
do Aelurrs eul Io Alwoeq seleulwiel uo du
Aue UI uol eowpoN„
0002 Isn
of 6t
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