HomeMy WebLinkAbout888248Mortgage Subordination Agreement
Account No, 3000070974,
This Agreement is made this 14th day of February, 2003, by and between U.S_ Bank National Association
ND ("Bank") and Major Mortgage ("Refinancer").
Bank is the mortgagee under a mortgage (the "Junior Mortgage") dated July 16, 2002, granted by Robert C.
Wagner and Christine Wagner ("Borrower"), and recorded in the office of the County Recorder, Lincoln County,
Wyoming, on July 22 , 2002 , as Document No. In Book 494pr At Page 784, encumbering the real property
described therein (collectively, the "Property"). Refinancer is the modgagee under a mortgage (the "Senior
Mortgage") dated February 25 , 20. 03 , granted by the Borrower, and recorded in the same
office on bIarch 3 , 20 03 , as Instrument NO. 888157 ,
encumbering the property~ To induce Refinancer to make a loan to the Borrower secured by the Senior Mortgage,
Bank has agreed to execute' and deliver this Subordination Agreement.
ACCORDINGLY, in consideration of the premises and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Bank hereby agrees with Refinancer that the lien of the Junior
Mortgage on the Property Js and shall be and shall remain fully subordinate for all purposes to the lien of the Senior
Mortgage on the Property, to the full extent of all sums from time to time secured by the senior Mortgage; Provided,
however, that the total indebtedness secured by the Senior Mortgage does not exceed $180,000.00, exclusive of
interest thereon, amounts advanced to protect the lien and priority of the Senior Mortgage, and costs of collection,
and provided further, that this agreement shall not be effective until each other mortgage or other lien recorded
aga nsf the property (other than the Senior Mortgage) and each judgment that is a lien against the Property shall be
subordinated of record to the lien of Senior Mortgage.
Legal Description: LOT 101 OF THE RIVER VIEW MEADOWS SECOND ADDITION TO THE TOWN OF ALPINE,
LINCOLN COUNTY, WYOMING AS DESCRIBED ON THE OFFICIAL PLAT THEREOF
Property Address: 448 Riverview Dr, Alpine, Wy 83128
IN WITNESS THEREOF, this Subordination Agreement is executed on the day and year first above stated.
Bank Name: U.S. Bank National Association ND
By: Sherri J Bernard
Title: Operations Officer
STATE OF __North Dakota .)
COUNTY OF Cass )
The foregoing instrument was acknowledged before me this 14th day of February, 2003, by (name) Sherri J. Bernard,
the (title) Operations Officer, of (bank name) US Bank National Association ND, a national banking association, on
behalf of the assoc ation.
'N~dry 15ubiic
his instrument was drafted by: Lien Perfectior e M. Pflugrath, 701--461-3510, P.O. Box 2687_ - ,D 58102