HomeMy WebLinkAbout971682Recording 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 37181830110000
1 Owner(s): MARK NYQUIST
KIM NYQUIST
Effective Date: 6/18/2013
Account Number: XXX- XXX- XXX7266 -1998 Reference Number: 26550677
Current Lien Amount: $100,000.00.
Senior Lender: Wells Fargo Bank, N. A.
Subordinating Lender: Wells Fargo Bank, N.A.
[Space Above This Line for Recording Data]
SUBORDINATION AGREEMENT FOR
SHORT FORM LINE OF CREDIT MORTGAGE
00525
Property Address: 230 PALISADES DRIVE, ALPINE, WY 83128
RECEIVED 6/26/201 at 3:05 PM
RECEIVING 9 71682
BOOK: 814 PAGE: 525
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
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.
HE360 SUB WY (rev 20120217) Page 1 of 3
0000000000739445
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.
MARK NYQUIST AND MARK NYQUIST, HUSBAND AND WIFE (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 Short Form Line Of Credit Mortgage (the
"Existing Security Instrument given by the Owner, covering that real property, more particularly described as
follows:
A. Agreement to Subordinate
B. General Terms and Conditions
C. Signatures and Acknowledgements
See Exhibit A
which document is dated the 4th day of December, 2010, which was filed in Book 759 at page 000293 (or as No.
957309) 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 MARK NYQUIST and KIM NYQUIST (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 $366,000.00 (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:
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.
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.
The Subordinating Lender, through its authorized officer, has set its hand and seal as of the Effective Date above
unless otherwise indicated.
05 2f
HE360 SUB WY (rev 20120217) Page 2 of 3
0000000000739445
SUBORDINATING LENDER:
Wells Fargo Bak-, N.A.
Jamie Ann Marchetti
(Printed Name)
(Title)
By
(Signature)
Vice President Loan Documentation
STATE OF Oregon
COUNTY OF Multnomah
FOR NOTARIZATION OF LENDER PERSONNEL
The foregoing Subordination Agreemer as acknowledged before me, a notary public or other official qualified to
administer oaths this day o 4 -C44 C *ant by Jamie Ann Marchetti, as Vice
President Loan Documentation of Wells Fargo Bank, N.A., the Subordinaing 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.
)ss.
ary Public)
KATHY CHARLENE JENSEN—'?(;
OFFICIAL SEAL
NOTARY PUBLIC OREGON i)
COMMISSION NO. 443512
MY COMMISSION EXPIRES NOVEMBER 8, 2013 9
2- OC 0
Date
11E360 SUB WY (rev 20120217) Page 3 of 3
0000000000739445
Exhibit "A"
Beginning at the Southeast Corner of Lot 13, Alpine Village Subdivision 1, Plat 1, Amended,
Section 18, T37N, R118W, 6th P.M., Wyoming and running Thence S59 °22'51 "W, 250 feet;
Thence N35 °37'29 "W, 196 feet; Thence N48 °58'42 "E, 121.46 Feet to the South right -of -way
boundary line of Palisades Circle; Thence in an Easterly Direction along said South right -of -way
boundary line of Palisades Circle, 128.47 feet to the point of intersection with the Southwest
right -of -way boundary line of Palisades Drive; Thence Southeasterly along the Southwest right
of -way boundary line of Palisades Drive approximately 153.33 feet to the point of beginning.
a