HomeMy WebLinkAbout885452885[ 52
RECEIVED
LINCOL?,,I COU,~,I'FY CLERK
Space above line for recording purposes.
81031280400001
SUBORDINATION AGREEMENT
NOTICE: This subordination agreement results in your security interest in tlie property becoming subject to and of lower priority
than the lien of some other or later security instrument
This Agreement is made this 4TM day of November 2002 , by and between Wells
Fargo Bank Wyoming, N.A. a national bank with its headquarters located at CY Avenue.and
Fairgrounds Road, Casper WY (herein called "iLien Holder"), and Wells Fargo Home
Mortgage, Inc., with its main office located in the State of Iowa (herein called the "Lender").
RECITALS
Lien Holder is the beneficiary/mortgagee under a deed of trust/mortgage, dated 7th
September, 1999 executed by Robert Moosman AND Diane Moosman (the "D. ebtor")
which was recorded in the county of Lincoln, State of Wyoming, as BOOK 435PR ON
PAGE 841 on 17TH September, 1999 (the "Subordinated Instrument") covering real
property located in Kemmerer in the above-named county of Lincoln, State of Wyoming
, as more particularly described in the Subordinated Instrument (the "Property").
LOT 24-L-3 OF THE ROLLING HILLS 1sT ADDITION TO THE CITY OF KEMMERER, LINCOLN
COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF.
Lender will make a loan to the Debtor secured by a deed of trust/mortgage on the Property
which will be recorded (the "Lender Instrument"). The Lender Instrument will secure a
promissory note/line of credit agreement in the amount of
$60,900.00, recorded November 6, 2002 :In Book 503PR on page 802..
Lien Holder has agreed to execute and deliver this Subordination Agreement.
9/27/01
ACCORDINGLY, in consideration of the property and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Lien
Holder hereby agrees with Lender as follOws:
Regardless of any priority otherwise available to Lien Holder, the lien of the
Subordinated Instrument is, shall be and shall remain fully subordinate for all
purposes to the lien of the Lender Instrument, to the full extent of the sum
secured by the Lender Instrument, including not only principal and interest on
the principal indebtedness secured thereby but all other sums secured by the
Lender Instrument, excluding non-obligatory future advances.
Lien Holder warrants to Lender that Lien Holder presently owns the
Subordinated Instrument and indebtedness secured thereby, free and clear of
all liens, security interests and encumbrances. ~'
o
This Agreement is made under the laws of the State of Wyoming. It cannot be
waived or changed, except by a writing signed by the parties to be bound
thereby. This Agreement is made between Lender and Lien Holder. It shall
be binding upon Lien Holder and the successors and assigns of Lien Holder,
and shall inure to the benefit of, and shall be enforceable by, Lender and its '
successors and assigns. Neither the Debtor nor any other person (except
Lender, its successors and assigns), shall be entitled to rely on, have the
benefit of or enforce this Agreement.
IN WITNESS WHEREOF, this Subordination Agreement is executed on the day
and year first above stated.
WELLS FARGO BANK NEBRASKA, N.A.
NOTICE: This
subordination agreement contains a provision which allows
the person obligated on your real property security to
obtain a Joan a portion of which may be expended for other
purposes than improvement of the land
Janice L. McCalla
Title: Assistant Vice President
9/27/01
STATE OF NEBRASKA)
) ss.
COUNTY OF DOUGLAS)
The'foregoing instrument was acknowledged before me this 4TH day of
2002, by Janice L. McCalla of Wells Fargo Bank Nebraska, N.A.
(bank officer name and title) (name of Wells Fargo Bank)
WITNESS my hand and official seal. '/'/~/x~
My commission expires: 2nd July, 2004
FAnn M. Burd
Notary Public
November,
9/27/01