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8178518649
WHEN RECORDED MAIL TO:
903063
RECEIVED
LINCOLN COUNTY CLERK
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GMAC Mortgage
500 Enterprise Road
Horsham, PA 19044
Prepared by: Charlotte Hall
Of 190
SUBORDINATION AGREEMENT
THIS SUBORDINATION AGREEMENT, made August 18, 2004, present owner and holder of the
Mortgage and Note first hereinafter described and hereinafter referred to as GMAC Mortgage
Corporation.
WITNESSETH:
THAT WHEREAS DONALD R. W. HAGAN AND JANICE H. HAGAN, residing at 424
PINE STREET, ALPHINE, WY 83128, did execute a Mortgage dated 7/17/2002 to GMAC Mortgage
Corporation covering:
SEE ATTACHED
To Secure a Note in the sum of $ 21,000.00 dated 7/17/2002 in favor of GMAC Mortgage Corporation,
which Mortgage was recorded 7/23/2002 as Book 494PR on the Page 828 of Lincoln County Public Records.
WHEREAS, Owner has executed, or is about to execute, a Mortgage and Note in the sum of
$167,000.00 dated in favor of GAURANTY BANK AND TRUST COMPANY,
here in after referred to as "Lender", payable with interest and upon the terms and conditions described
therein, which mortgage is to be recorded concurrently herewith; and
WHEREAS, it is a condition precedent to obtaining said loan that Lender's mortgage last above
mentioned shall unconditionally be and remain at all times a lien or charge upon the land herein before
described, prior and superior to the lien or charge of GMAC Mortgage Corporation mortgage first above
mentioned.
NOW THEREFORE, in consideration of the mutual benefits accruing to the parties hereto, and
other valuable consideration, the receipt and sufficiency of which 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:
COO
Lot 3 of Rees Subdivision, Lincoln County, Wyoming as described on the
official plat thereof.
0092
(1)That said mortgage securing said note in favor of Lender, shall unconditionally be and
remain at all times a lien or charge on the' property therein described, prior and superior
to the lien or charge of GMAC Mortgage Corporation mortgage first above mentioned,
including any and all advances made or to be made under the note secured by GMAC
Mortgage Corporation mortgage first above mentioned.
(2)Nothing herein contained shall affect the validity or enforceability of GMAC
Mortgage Corporation mortgage and lien except tbr the subordination as aforesaid.
WITNESSED BY:
By: ~
By: ~ ~.~l~.LTn~ _._..---
COMMONWEALTH OF pENNSYLVANIA
COUNTY OF MONTGOMERY
GMAC Mortgage Corporation~,
BYI /~Vl~rnessa Bircke)t '- "
Title: Limited Signing Offi~ ~,"~
~.-~ ~'.
.
:
On ~- ~ ~--- ~) t.~ , before me rynn ~ CFrar.~, the ~dersigned, a Nota~ Public in and for said
Coun~ and State, personally appeared Mamessa Bkckea personally Nlown to me (or proved to me on the
basis of satisfacto~ evidence) to be the Li~ted Signing Officer, and Debra Chieffe personally ~o~ to
me (or proved to me on ~e basis of satishctory evidence) to be the Li~mted Signing Officer of the
Co~oration that executed the witNn ins~ment, and ~om to me to be the persons who executed the
within ins~ment on behalf of the co~oration thereN named, and acknowledged to me that such
co~oration executed the same, pursuant to its bylaws, or a resolution of its Board of Directors.