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RECEIVED
LINCOLN COUNTY CLERK
Space above line for recording purposes.
6546541892711000
SUBORDINATION AGREEMENT
NOTICE: This subordination agreement results in your security interest in the property becoming subject to and of lower priority
than the lien of some other or later security instrument
This Agreement is made this 15day of January 2003, by and between Wells Fargo Bank
NAa national bank with its headquarters located at 420 Montgomery Street, San Francisco,
CA (herein called "Lien Holder"), and Wells Fargo Home Mortgage, Inc., with its main office
located in the State of Iowa (herein called, the "Lender").
i RECITALS
Lien Holder is the beneficiary/mortgagee under a deed of trust/mortgage, dated March 26,
2002 executed by Kirby Joe Booth and Donna L. Booth (the "Debtor") which was recorded in
the county of Lincoln, State of WY, as Bdok 487PR, Page 227 on April 12, 2002 (the
"Subordinated Instrument") covering real property located in Afton in the above-named county
of Lincoln, State of WY, as more particularly described in the Subordinated Instrument (the
"Property").
PLEASE SEE ATTACHED EXHIBIT "A" (Legal Description)
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
$92000.00.
Lien Holder has agreed to execute and deliver this Subordination Agreement.
,.980
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.
3. This Agreement is made under the laws of the State of Minnesota. 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 NA
NOTICE: This
subordination agreement Contains a provision which allows
the )erson obligated on your real property security to
obtai~ ~ loan a portion of which may be expended for other
~'es than improvement of the land
~B~y: Dan Hower
Title: Asst. Secretary
88I
STATE OF Minnesota )
)ss
COUNTY OF Hennepin )
The foregoing instrument was acknowl'edged before me this 15 day of January,
2003, byDan Hower, Asst. Secretary of Wells Fargo Bank NA
(bank officer name and title) (name of Wells Fargo Bank)
WITNESS my hand and official seal.
My commission expires: 01/31/05
Brian Wolfe
Notary Public
882
Exhibit "A"
Legal Description
Lot 2 Hialeah Subdivision, Lincoln
described on the official plat thereof.
County,
Wyoming
as