HomeMy WebLinkAbout894739Mortgage Subordination Agreement
Account No. 3000063302
Drafted by: mt
This Agreement is made this 6th day of June, 2003, by
("Bank") and Washington Mutual Bank FA ("Refinancer").
and between US Bank National Association ND
Bank is the mortgagee under a mortgage (the "Junior Mortgage") dated June 14, 2002, granted by Diggs Lewis Jr
Yvonne B Lewis, husband and wife ("Borrower"), and recorded in the office of the County Recorder, Lincoln County,
Wyoming, on July 12 , 2002, as Document No. 882484, encumbering the real property described therein
(collectively, the "Property"). Refinancer is the mortgagee under a mortgage (the "Senior Mortgage") dated
., 20__, granted by the Borrower, and recorded in the same office on
, 20 , as , 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 is 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 $38,400.00, 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
against 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: SEE ATTATCHMENT A
Property Address: 138 Pine St, Alpine WY 83128
IN WITNESS THEREOF, this Subordination Agreement is executed on the day and year first above stated.
Bank Name: US Bank National Association ND
No Corporate Seal By: Kathleen M. Lokken
Title: Operations Officer
STATE OF North Dakota )
COUNTY OF Cass .)
The foregOing instrument was acknowledged before me this 6th day of June, 2003, by (name) Kathleen M. Lokken, the
(title) Operations Officer, of (bank name) US Bank National Association ND, a national banking association, on behalf
of the association.
Notary Public
This instrument was drafted by: Lien Perfection, Jeannie M. Pflugrath, 701-461-3510, P.O. Box 2687, Fargo ND 58102
DIGGS W. LEWIS
00003000063302
ATTACHMENT A
Property Description
SITUATED IN THE STATE OF WYOMING, COUNTY OF LINCO[~N, AND IS
DESCRIBED AS FOLLOWS!
LOTS 11 AND 12 OF THE R~ES SUBDIVISION, LINCOLN COUNTY,
WYOMING AS DESCRIBED ON THE OFFICIAL PLAT TZ4~REOF.
THIS PROPERTY LIES IN TH~ COUNTY OF LINCOLN, STATE OF
WYOMING.
666
163
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ATTCHA (HP) Rev.