HomeMy WebLinkAbout975174SUBORDINATION AGREEMENT
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NOTICE:
THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE
PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LEIN OF SOME
OTHER OR LATER SECURITY INSTRUMENT.
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This instrument is made as of September 20, 2013 Meridian Trust Federal Credit Union a Corporation, having
its principal place of business at Cheyenne WY.
MERIDIAN TRUST F.C.U. is the holder of a note secured by a mortgage (the "Second Mortgage on the
Mortgaged Property, dated August 26, 2008, executed by Parry M Davison and Fred A Baldwin, husband
and wife, and recorded on August 27, 2008 AS INSTRUMENT NO. 941649, IN the property records of
Lincoln COUNTY, WY, pertaining to the real estate located at and further described as follow (the
Mortgaged Property):
2009 Aspen Springs Road CR 319, Kemmerer WY 83101
See Attached Exhibit "A"
B. The Second Mortgage held by MERIDIAN TRUST F.C.U. is junior and subordinate to a Mortgage (the
"First Mortgage held by Mortgage Electronic Registration Systems, Inc. (MERS), as nominee for
Taylor, Bean Whittaker Mortgage Corp, its successors and /or assigns., the Mortgaged Property, that
Parry M Davison and Fred A Baldwin, husband and wife, owner(s) of the Mortgaged Property desire to
refinance the First Mortgage loan on the Mortgaged Property.
For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, MERIDIAN
TRUST F.C.U. agrees as follows:
By:
1. The Second Mortgage held by MERIDIAN TRUST F.C.U. shall be subject and subordinate to a new
mortgage "New Mortgage securing a loan originated by Nationstar Mortgage, LLC, as their
respective interests may appear PERTAINING to the Mortgaged Property and securing a note in an
original principal amount not to exceed $396,157.00 (Three Hundred Ninety Six Thousand One
Hundred Fifty Seven DOLLARS bearing interest at a rate not to exceed 4.875% per annum, and
made primarily for the purpose of refinancing the First Mortgage loan. Mortgage recorded
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2. MERIDIAN TRUST F.C.U. acknowledges that the Nationstar Mortgage, LLC is relying on this
instrument in making the loan secured by the New Mortgage. MERIDIAN TRUST F.C.U. agrees that
the new Mortgage shall have the same validity, priority, and effect as if executed, delivered and
recorded prior to the date of the Second Mortgage, provided, however, that nothing in this instrument
shall in any way alter, change or modify the terms and conditions of the Second Mortgage, or in any
way release or affect the validity or priority of the Second Mortgage, except as provided herein
Entered this 20 Day of September 2013
MERIDIAN TRl[J T FEDERAL CREDIT UNION
STATE OF WYOMING
COUNTY OF LARAMIE
K. L. Stubbs, Sr Vice President
RECITALS
Notary Public: bitt_ .0LA 6
My Commission Expires: L�
975174 2/4/2014 2:33 PM
LINCOLN COUNTY FEES: $15.00 PAGE 1 OF 2
BOOK: 827 PAGE: 754 MTG, SUBORDINATION OF
JEANNE WAGNER LINCOLN COUNTY CLERK
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On this20th Day of September, 2013, before me, a Notary Public, personally appeared K. L. Stubbs„ and who
being by me duly sworn, subscribed his name to the foregoing instrument as an officer of said corporation and
acknowledged the execution of such instrument as the voluntary act and deed of said corporation.
Beverly Dowling NOTARY PUBLIC
County of
State of
Laramie Wyoming
My Commission Expires February 4, 2015
201987
A parcel of land located in the Southwest Quarter of Section 5 of the Resurvey of Township 21
North, Range 115 West, 6th Prime Meridian, Lincoln County, Wyoming, to wit:
COMMENCING at the West One Quarter Corner of said Section 5; thence
South 00 °06'49" East 380.65 feet to the TRUE POINT OF BEGINNING; thence
South 82 °31'36" East 2427.69 feet to a point; thence
South 02 °52' 18" East 600.63 feet to a point; thence
North 86°48'16" West 2439.41 feet to a point; thence
North 00 °06'47" West 779.65 feet to the TRUE POINT OF BEGINNING.
PIDN #21150530000400
EXHIBIT "A"