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Home My WebLink About972224ATEC 191797 WHEN RECORDED MAIL TO: Bank of America 4161 Piedmont Parkway NC4- 105 -01 -38 Attn Subordinations Greensboro NC 27410 Doc ID No.: 00018112XXXX2005N ESCROW /CLOSING RECEIVED 7/26/2013 at 9:38 AM RECEIVING 972224 BOOK: 816 PAGE: 492 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY SUBORDINATION AGREEMENT MIN: 100133700026595259 NOTICE: THIS SUBORDINATION AGREEMENT MAY RESULT IN YOUR SECURITY INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT. SUBORDINATION AGREEMENT This Subordination Agreement "Agreement is made this Eleventh day of July, 2013, by MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., AS NOMINEE FOR COUNTRYWIDE BANK, FSB, ITS SUCCESSORS AND /OR ASSIGNS ("Subordinating Lender a corporation whose address is NC4 105- 01 -38, 4161 Piedmont Parkway, Greensboro, NC 27410. WITNESSETH: SPACE ABOVE FOR RECORDERS USE MERS Phone: 1- 888 679 -6377 WHEREAS, Subordinator is the beneficiary/mortgagee of that certain Deed of Trust/Mortgage "Security Document pursuant to that certain Security Document dated 10/31/2007 (the "Senior Lien and executed by NATHAN CRAIG HEISS and KATHY RENE HEISS and encumbering that certain real property located at 151 MAJESTIC MEADOW LANE, AFTON, WY 83110 (address) which is legally described on Exhibit "A" attached hereto and incorporated herein (the "Property which Security Document was recorded on 11/08/2007 in Official Records Book 678PR, Page 257, as Instrument No. N /A, of the Official Records of LINCOLN County, Wyoming, as the same may have been or is to be modified prior hereto or contemporaneously herewith. 0492 WHEREAS, STATE FARM BANK, F.S.B. "Junior Lien Holder has been requested to make a loan, line of credit or other financial accommodation to Owner, to be secured by either a deed of trust, deed to secure debt or mortgage (collectively, the "Junior Lien covering without limitation, the Property and securing the indebtedness described therein including the payment of a promissory note or line of credit (together, the "Note made by Owner and /or others payable to the order of Junior Lien Holder, in the amount of $267,978.00 "Principal Amount including provisions for acceleration and payment of collection costs (collectively, the "Loan and WHEREAS, Junior Lien Holder requires, as a condition to making the Loan, that the Junior Lien be superior to the Senior Lien; WHEREAS, it is to the mutual benefit of the Subordinator, Owner and Junior Lien Holder that Junior Lien Holder make the Loan to Owner; and Subordinator is willing to permit the Junior Lien, when recorded, to constitute a lien upon the Property that is unconditionally prior and superior to the Senior Lien. NOW THEREFORE, for valuable consideration and to induce Junior Lien Holder to make the Loan to Owner, Subordinator hereby subordinates the Senior Lien to the Junior Lien and any renewals or extensions thereof, and declares, agrees and acknowledges that: (1) The Junior Lien and any renewals or extensions thereof, shall unconditionally be and remain at all times a lien or charge on the property, prior and superior to the Senior Lien. (2) That Junior Lien Holder would not make the Loan without this subordination agreement. (3) This Agreement is limited to the Principal Amount, plus interest and any additional amounts advanced pursuant to the provision of the Note or Junior Lien for payment of insurance premiums, taxes, cost of collection or protection of the value of the Property or Junior Lien Holder's rights in the Property. This Agreement shall inure to the benefit of Junior Lien Holder and be binding upon Subordinator, its successors and assigns and shall be binding upon any purchaser (at foreclosure or otherwise) of the Property, or any part thereof, and their respective heirs, personal representatives, successors and assigns. (4) This agreement shall be the whole and only agreement with regard to the subordination of the Senior Lien to the Junior Lien and shall supersede and cancel, but only insofar as would affect the priority between the security instruments described herein, any prior agreements as to such subordination including, but not limited to, those provisions, if any, contained in the Senior Lien, which provide for the subordination of the Senior Lien to another security instrument, deed of trust or mortgage. (5) It consents to and approves (i) all provisions of the Note and Junior Lien securing the loan, and (ii) all agreements, including but not limited to any loan or escrow agreements (collectively, the "Loan Agreements between Owner and Junior Lien Holder for the disbursement of the proceeds of the New Loan; (6) Junior Lien Holder making disbursements pursuant to any such agreement is under no obligation or duty to, nor has Junior Lien Holder represented that it will, see to the application of such proceeds by the person(s) to whom Junior Lien Holder disburses such proceeds and any application or use of such proceeds other than those provided for in such Loan Agreement(s) shall not defeat the subordination herein made in whole or in part. (7) It intentionally and unconditionally waives, relinquishes and subordinates the Senior Lien in favor of the Junior Lien and understands that in reliance upon, and in consideration of, this waiver, relinquish 0493 and subordinate specific loans and advances are being and will be made and, specific monetary and other obligations are being and will be entered into which would not be made or entered into but for said reliance upon this waiver, relinquishment and subordination. NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE OWNER OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND. MORTGAG. ECTRONIC REGISTRATION SYSTEMS, INC., AS NOMINEE FOR COUNTRYWIDE BANK, FSB, ITS SU ESSORS AND/OR ASSIGNS Kathy CI Andrew Holl ►7 Assistant Secretary 0494 CORPORATE ACKNOWLEDGEMENT STATE OF NORTH CAROLINA COUNTY OF GUILFORD ALL PURPOSE ACKNOWLEDGMENT Before me, the undersigned, a Notary Public on this day personally appeared Kathy Clark, Assistant Secretary and Andrew Holland, Assistant Secretary known to me, to be the person and officer whose name is subscribed to the foregoing instrument and acknowledged to me that the same was the act of the said corporation, and that he or she had executed the same as the act of such corporation for the purpose and consideration therein expressed, and in the capacity therein stated. Given under my hand and seal of office this 11 day of July, 2013. 0 0 0 00000 00011 I/III III`` (Personalized Seal(/` p. M {�1 S.‘ A 41 1341 0 Loretta M Saunders OnD c,0 (Print Name of Notary Public here) IIIAA II0AAA0A /000 My commission expires 04/06/2014 (Notary Public, State of North Carolina) 0495 191797 EXHIBIT "A" TRACT 1: That part of Section 27, Township 32 North, Range 119 West, Lincoln County, Wyoming, being part of that tract of record in the Office of the Clerk of Lincoln County in Paragraph 5 of Book 401 Photostatic Records on page 812, 813, described as follows: Beginning at a point on the East line of said tract North 00 °23'12" East, 816.83 feet from the Southeast corner of the Southwest Quarter of said Section 27; Thence North 00 °23'12" East, 766.00 feet, along said East line, to a point; Thence South 88 °36'49" West, 660.56 feet, to a point on the West line of said tract; Thence South 00 °22'36" West, 766.00 feet, along said West line to a point; Thence North 88 °36'49" East 660.43 feet to the point of beginning TRACT 2: TOGETHER with a right of ingress and egress and public utilities over, under and across a strip of land thirty -five (35) feet in width with the Easterly line described as follows: Beginning at the Southeast corner of the Southwest Quarter of said Section 27; Thence North 00 °23'12" East, 816.83 feet to the South line of the above described parcel. 0496