HomeMy WebLinkAbout897662'Space above line for recording purposes.
RECEIVED.-,
LINCOLN COUNTY CLERK
SUBORDINATION AGREEMENT
NOTICE: This subordination agreement results in your security interest In the property becoming subject to and of lower priority
than the lien 0fsome other or later security instrument
This Agreement is made this 3rd day of March 2004, by and between Wells Fargo Bank
N.A. a 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").
RECITALS
Lien Holder is the beneficiary/mortgagee under a deed of trust/mortgage, dated January
29, 2003 executed by Lamont JohnsOn AKA Lamont Lund and Deborah K Johnson AKA
Deborah Kay Johnson, Tenants By The Entireties (the "Debtor") which was recorded in the
county of Lincoln, state of Wyoming, as Book 513 Page 237 on February 3, 2003 (the
"Subordinated Instrument") covering real Property located in Auburn, Wyoming in the above-
named county of Lincoln, State of Wyoming, as more particularly described in the
Subordinated Instrument (the "Property").
A PORTION OF THE NWl4 SE/4 OF SEOTION 31~, T33N RllgW, §TH P.M.. WYOMING
LOCATED IN OR NEAR AUItURN. LINCOLN COUNTY, V~Y~MING. REING MORE PARTICULARLY
· DESCRIBED AS FOLLOW~ I~EGINNING Al AN IRON PIPE IdONLMENT FOUND AT THE CENTER
OUARTER CORNER OF SAID SECTION, BEINO'AL~O IN COUNTY ROAD NO, 1'32 THENCE
RUNNING N 8g DEGREES §B MINUTES 10 GECONOE, E, ALONG THE NORTH LINE OF SAID
~;EI4, A DISTANCE OF 16'~28 FEET THENCE SOUTH 200.82 FEET THENCE WEST
10'/.28 FEET THENCE NORTHERLY ALONG LAST SAID CENTERLINE, A OI.qTANCE OF
, APPROXIMATELY 200,1t2 FEE1' TD THE POINT' OF.BEGINNING,
Lender Will make a loan to the Debtor secured by adeed 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
$77950.00. and was recorded February 26, 200-3 in Bb0k 513PR on page 641.
Lien Holder has agreed to execute and deliver this Subordination Agreement.
9/2 7/01
ACCORDINGLY, ill 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 fitture 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 WYOMING
NOTICE: This
subordination agreement contains a provision which allows
the person obligated on your real property securitY to
obtain a loan a portion of which may be expended for other
purposes than improvement of the land
By: Janice McCalla
Title: Vice President
Loan Documentation
9/2 7/01
STATE OF NEBRASKA)
)SS.
COUNTY OF DOUGLAS)
The foregoing instrument was acknowledged before me this 3rd day of March,
2004, by Janice McCalla of Wells Fargo Bank N.A.
(bank officer name and title) (name of Wells Fargo Bank)
WITNESS my hand and official seal.
My commission expires:
Notary Public 7
9/27/01