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HomeMy WebLinkAbout971519Return to: The Bank of Star Valley Property Tax ID: 3619-221-00-171.00 Reference 245191283 Order 7668920n SUBORDINATION AGREEMENT THIS INDENTURE, made this i r day of 201t between THE BANK OF STAR VALLEY, hereinafter called party of the First Part, and ()/hn (\men hereinafter called Party of the Second Part, WITNESSETH, that whereas the Party of the First Part is the owner and holder of a certain Mortgage taken out by DANIEL SHEELER and JAYNE BASYE, in the original principal indebtedness of $62,000.00, which Mortgage was recorded on 09/04/2008, in Book 731 PR, Page 241; encumbering the land situate in the County of Lincoln, Wyoming, described as follows: SEE COMPLETE LEGAL ATTACHED AS EXHIBIT "A" PARCEL ID: 3619 221 -00- 171.00 COMMONLY KNOWN AS: 214 Aspen Hill Dr, Etna, WY 83128 0)800 RECEIVED 6/17/2013 at 2:33 PM RECEIVING 971519 BOOK: 813 PAGE: 800 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY AND WHEREAS, DANIEL SIIEELER and JAYNE BASYE, have made application to the Party of the Second Part for a loan to OA n14 Ps Ps-Me i cq N A. in the amount not to exceed $245,500.00, to be secured by a First Mortgage encumbering the above described premises, and Party of the Second Part has required as a condition precedent to making of said loan that the Party of the First Part subordinate its Mortgage and the lien thereof and all of its rights there under to the Mortgage to be placed upon said premises as aforesaid, and Party of the First Part is agreeable to such subordination. NOW THEREFORE, in consideration of the sum of One Dollar ($1.00), and other valuable consideration in hand paid by the Party of the Second Part to the Party of the First Part, nTARY PUBLIdl I?AM Nf i3E:6. TINT I•f receipt whereof is hereby acknowledged, and as inducement for making the aforesaid loan by the Party of the Second Part to the aforesaid DANIEL SHEELER and JAYNE BASYE, the Party of The First Part does hereby subordinate the aforesaid Mortgage by it and the lien thereof and all of its rights and there under to the Mortgage recorded in Official RecordsfBook e Page q©3 or Document Number 41 it 8 y of the Public Records of Lincoln County, Wyoming, encumbering the above described pretnises and does hereby covenant with the Party of the Second Part that it has not transferred or assigned the aforesaid Mortgage held by it, nor the Promissory Note it secures, nor any interest held by it in either of said instruments, and it executed this Subordination Agreement as sole owner of the entire interest held by it in said Note and Mortgage and declare any right or claim held by it to be subject and inferior to the Mortgage held by the Party of the Second Part and to all rights of the Party of the Second Part there under. (Le evodea 6/a8 1i 3 IN WITNESS WHEREOF, THE PARTY OF THE FIRST PART HAS HEREUNTO SET I"I'S HAND AND SEAL ON THE DAY AND YEAR FIRST WRITTEN. STATE OF 1c COUNTY OF (l.( E, L TATE OF WYOMING Mrt )11/Ift9( &1∎Ri:t 13,2(?ti BEFORE ME, the undersigned authority, personally appeared L 6i4.c t) 71 (3); %4Seik_ its t`cc c s„ of THE BANK OF STAR VALLEY, who is known to me or has shown as identification, who after being by me first duly sworn, deposes and says that he /she has the full binding authority so execute this Subordination Agreement and he /she subscribed his /her name thereto in certification thereof. 14_ THE BANK OF STAR By Its: rbe 5 i NOTARY PUBL My Commission Expires i CL( /3, 2" Lf No title search was performed on the subject property by the preparer. The preparer of this deed makes neither representation as to the status of the title nor property use or any zoning regulations concerning described property herein conveyed nor any matter except the validity of the form of this instrument. Information herein was provided to preparer by Grantors /Grantee and /or their agents; no boundary survey was made at the time of this conveyance. X 080 1 EXHIBIT "A" THE LAND REFERRED TO IN THE POLICY IN "I'HE STATE OF WYOMING, COUNTY OF LINCOLN, CITY OF ETNA, AND DESCRIBED AS FOLLOWS: PARCEL 1: A PARCEL OF LAND LOCATED IN THE SOUTH 1IALF NORTH HALF OF SECTION 22, TOWNSHIP 36 NORTH, RANGE 119 WEST, 6I'H P.M., BEING PORTIONS OF THOSE TRACTS OF RECORD IN THE OFFICE OF THE LINCOLN COUNTY CLERK IN BOOK 144PR ON PAGE 387 AND BOOK 186PR ON PAGE 610 MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING Al' THE NORTHEAST CORNER OF SAID SECTION 22, WHERE IS FOUND A 2 INCH DIAMETER GALVANIZED STEEL PIPE WITH BRASS CAP INSCRIBED WITH APPROPRIATE DETAILS, THENCE NORTH 89 °50'00" WEST, THE BASE BEARING FOR THE DESCRIPTION 1485.98 FEET ALONG THE NORTH LINE OF SAID SECTION 22 TO THE NORTHEAST CORNER OF ASPEN HILL SUBDIVISION AS RECORDED IN SAID OFFICE, THENCE RUNNING NORTH 89 °50'00" WEST 505.50 FEET; THENCE SOUTH, 1537.62 FEET TO THE POINT OF BEGINNING, SAID POINT BEING IDENTICAL WITH 'TIE NORTHEAST CORNER OF SAID TRACT OF LAND IN BOOK 144PR PAGE 387, AND MONUMENTED BY A STEEL T- SHAPED STAKE WITH CHROMED CAP INSCRIBED "SURVEY POINT DO NOT DISTURB RLS 164"; THENCE CONTINUING ALONG THE EAST LINE OF SAID RECORD TRACT, SOUTH 217.46 FEET TO THE SOUTHEAST CORNER OF SAID RECORD TRACT, WHERE IS FOUND A 2 INCH DIAMETER GALVANIZED STEEL PIPE WITH BRASS CAP INSCRIBED "PAUL N. SCHERBEL RLS 164 AND OTHER APPROPRIATE DETAILS; THENCE CONTINUING ALONG THE BOUNDARY OF SAII) TRACT IN BOOK 186PR, SOUTH 22.72 FEET TO A POINT MONUMENTED BY A STEEL T -SHAPED STAKE WITH CHROMED CAP INSCRIBED "SURVEY POINT PETER M. JORGENSEN PE &LS 2612 THENCE NORTH 89 °50'00" WEST, 659.66 FEET TO A POINT ON THE BOUNDARY COMMON TO SAID TRACT IN BOOK 144PR AND 186PR MONUMENTED BY A STEEL T- SHAPED STAKE WITH CHROMED CAP INSCRIBED "SURVEY POINT PETER M. JORGENSEN PE &LS 2612 THENCE ALONG A LINE COMMON TO SAID TRACT SOUTH 00 °02'00" EAST 77.28 FEET TO A POINT MONUMENTED BY A STEEL T- SHAPED STAKE WITH CHROMED CAP INSCRIBED "SURVEY POINT PETER M. JORGENSEN PE &LS 2612 THENCE NORTH 89 °50'00" WEST 97.51 FEET TO A POINT ON THE WESTERLY LINE OF SAID TRACT IN BOOK 1441'R ALSO BEING ON THE EASTERLY RIGHT -OF -WAY LINE OF U.S. HIGHWAY 89, SAID POINT BEING MONUMENTED BY A STEEL T- SHAPED STAKE WITH CHROMED CAP INSCRIBED "SURVEY POINT PETER M. JORGENSEN PE &LS 2612 SAID RIGHT OF WAY L1NE BEING A CIRCULAR CURVE CONCAVE TO THE EAST WITH A RADIUS OF 1859.86 FEET, THE RADIAL BEARING AT SAID POINT BEING NORTI -1 75 °38'32" EAST; TIIENCE NORTHWESTERLY ALONG THE ARC OF SAID RIGHT OF WAY LINE, THROUGH A CENTRAL ANGLE OF 2 °35'28 84.11 FEET TO THE END OF SAID CURVE; THENCE NORTH 11 °46'00" WEST, ALONG SAID RIGHT OF WAY LINE, 240.77 FEET TO THE NORTHWEST CORNER OF SAID RECORD TRACT, WHERE IS FOUND A STEEL "I'- SHAPED STAKE WITH CHROMED CAP INSCRIBED "SURVEY 6 0 POINT DO NOT DISTURB RLS 164 THENCE SOUTH 89 °50'00" EAST ALONG THE NORTH LINE OF SAID RECORD TRACT, 825.24 FEET TO THE POINT OF BEGINNING. PARCEL 2: TOGETHER WITH A NON- EXCLUSIVE RIGIIT OF WAY OVER THE EAST 60 FEET OF LOT 9 OF SAID ASPEN HILL SUBDIVISION. TOGETHER WITH A RIGHT OF WAY DESCRIBED IN BOOK 144PR, PAGE 387, AS RECORDED IN THE OFFICE OF THE LINCOLN COUNTY CLERK AND INTERPRETED AS FOLLOWS TO ALIGN WITH THE PREVIOUSLY DESCRIBED RIGHT OF WAY THROUGH SAID LOT 9. BEGINNING AT THE SOUTHEAST CORNER OF LOT 9, THENCE SOUTH 2173 FEET, MORE OR LESS, TO TI -IE BOUNDARY OF SAID TRACT RECORDED IN THE OFFICE OF THE LINCOLN CLERK IN BOOK 144PR, PAGE 387, THENCE NORTH 89 °50'00" WEST ALONG THE NORTH BOUNDARY OF SAID RECORD TRACT, 60.00 FIE'I'; TIIENCE NORTH 217.5 FEET, MORE OR LESS, TO THE SOUTH BOUNDARY OF SAID LOT 9, THENCE SOUTH 89 °50'00" EAST, ALONG SAID SOUTH BOUNDARY, 60.00 FEET TO THE POINT OF BEGINNING. N 3w 9 U0 1 WHEN RECORDED RETI /I?N TO: FIRST AMERICAN MORTGAGE SERVICES 1100 SUPERIOR AVENUE, SUITE 200 CLEVELAND, OHIO 44114 NATIONAL RECORDING 11111111111(1111111 BASYE 46807852 FIRST AMERICAN ELS SUBORDINATION AGREEMENT 11111 11111 II II IIIII I I I II I II I I II I I III IIII II II I II I I IIII II III WY 60 '60`