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RECEIVED
LINOOLN COUNTY CLERK
SUBORDINATION AGREEMENT
WHEN RECORDED MAIL TO:
MSN SV-79/DOCUMENT CONTROL DEPT.
P.O; BOX 10266
VAN NUYS CALIFORNIA 91410-0266
LOAN #: 8619469
' ESCROW/CLOSING#: 11095/46252859
SPACEABOVEFOR RECORDERS USE
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.
· SUBORDINATION AGREEMENT
THIS SUBORDINATION AGREEMENT is made this Sixteenth day of December, 2003, by
COUNTRYWIDE HOME LOANS, INC. ("Subordinated Lienholder"), with a place of business at 4500
PARK GRANADA, CALABASAS, CA 91302-1613.
WHEREAS, DAVID G. LARSON and APRIL L. LARSON executed and
delivered to Subordinated Lienholder, a Deed of Trust/Mortgage (the "Existing and Continuing
Security Instrument") in the sum of $21000.00 dated 09/27/2000 , and recorded in Book Volume
453PR, Page_311, as Instrument No. , in the records of LINCOLN County, State of WYOMING, as
security for a loan (the "Existing and Continuing Loan"), which Existing and Continuing Security
Instrument is a valid and existing lien on the real property located at 1620 COKEVILLE UTAH CO RD.
207 COKEVILLE, WY 83114 and further described on Exhibit "A," attached.
WHEREAS, DAVID G.' LARSON and APRIL L. LARSON ("Borrower")executed and delivered
to COUNTRYWIDE HOME LOANS, iNC., ("Lender"), a deed of trust/mortgage in the sum of $67200.00
, which deed of trust/mortgage (the "New Security Instrument") is intended to be recorded herewith in
the records of LINCOLN County, State of WYOMING as security for a lOan (the "New Loan");
WHEREAS, it is a condition precedent to obtaining the New Loan that the lien of the New Loan
shall unconditionally be and remain at all times a lien or charge upon the land hereinbefore described,
prior and superior to the lien of the Existing and Continuing Loan; and
WHEREAS, Lender is willing to make said loan provided the lien securing the New Loan is a lien
or charge upon the described property prior and superior to the lien of the Existing and Continuing Loan
and provided that Subordinating Lender will specifically and unconditionally subordinate the lien of the
Existing and Continuing Loan to the lien of the New Loan; and
WHEREAS, it is to the mutual benefit of the padies hereto that Lender make such a loan to
Borrower; and Subordinating Lender is willing that the lien securing the New LOan shall, when recorded,
constitute a lien or charge upon said land which is unconditionally prior and superior to the lien securing
the Existing and Continuing Loan.
NOW, THEREFORE, in consideration of the mutual'benefits accruing to the padies hereto and
other valuable consideration, the receipt and sufficiency of which consideration is hereby acknowledged,
and in order to induce Lender to make the loan above referred to, it is hereby declared, understood and
agreed as follows:
(!) That lhe New Security Instrument, and any renewals or extensions thereof, shall
unconditionally be and remain at all times a lien or charge on the property therein described, prior
and superior to the Existing and Continuing Security Instrument.
(2) That Lender wo'uld not make the New Loan without this subordination agreement.
(3) That this agreement shall be the whole and only agreement with regard to the
subordination of the Existing and Continuing Security Instrument to the New Security Instrument
and shall supersede and cancel, but only insofar as would affect the priority between ,the security
instruments hereinbefore specifically described, any prior agreements as to such subordination
including, but not limited to, those provisions, if any, contained in the Existing and Continuing
Security Instrument above mentioned, which provide for the subordination of the lien to another
security instrument, deed of trust or mortgage.
Subordinating. Lender declares, agrees and acknowledges that
(a) It consents to and approves (i) all provision of the note and New Security Instrument in favor
of Lender above referred to, and (ii) all agreements, including but not limited to any loan or
escrow agreements, between Borrower and Lender for the disbursement of the proceeds of the
New Loan;
(b) Lender making disbursements purSuant to any such agreement is under no obligation or duty
to, nor has Lender represented that it will, see to the application of such proceeds by the person
or persons to whom Lender disburses such proceeds and any application or use of such
proceeds for purposes other than those provided for in such agreement or agreements shall not
defeat the subordination herein made in whole or in part; and
· (c) It intentionally and unconditionally waives, relinquishes and subordinates the lien of the
Existing and Continuing Security Instrument in favor of the lien or charge upon said land of the
New Security Instrument and understands that in reliance upon, and in consideration of, this
waiver, relinquish and subordinate specific loans and advances are being and will be made and,
as part and parcel thereof, specific monetary and other obligations are being and will be entered
into which would not be made or entered into but for said reliance Upon this waiver,
relinquishment and subordination.
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOW THE
PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION
OF
WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OFTHE LAND.
Ret~'e-Sco~,~, Assistant Vice President
EXHIBIT "A"
LOT 7 OF TAYLOR SUBDIVISION, LINCOLN COUNTY, WYOMING, AS DESCRIBED ON
THE OFFICIAL PLAT THEREOF.
State of Texas
County of Collin
CORPORATE ACKNOWLEDGEMENT
LOAN #: 8619469
On 12/16/2003 before me, personally appeared Bettye Scoville, Assistant Vice President of
Countrywide Home Loans, Inc., personally known to me (or proved to me on the basis of satisfactory
evidence) to be the person(s) _w,,l~ose name(s) is/are subscribed~'e within instrument and
acknowledged, to me that he/~i~, they executed the same in his/l::Le~/their authorized capacity(ies), and
that by his/~er)their signature'('s)'on the instrument the person(s), or the'entity upon behalf of which the
person(s) act"ed, executed the instrument.
WITNESS my hand and official seal ~
]( ~-~---)lk-'"'~. } My Commission Expires
l~ October 9:2007