HomeMy WebLinkAbout905368Drafted by Jeffrey Kohout
Wells Fargo Home Mortgage, Inc.
2701 Wells Fargo Way
Minneapolis, Minnesota 55467
..38G
Space above line for recording purposes.
RECEIVED 12/17/2004 at 3:25 PM
RECEIVING # 905368
BOOK: 575 PAGE: 386
JEANNE WAGNER
LINCOLN COUNTY CLERK, KEMMERER, WY
65465418927110001
SUBORDINATION AGR E E :~ I ENT
NOTICE: This subordination agreement results in your security interest in Itc p,',q)erly becoming subject to and of lower priority
than the lien of some other or later security instrument
This Agreement is made this 31 st day of October 20()4, b y and between Wells Fargo Bank,
N.A. a national bank with its headquarters located at 421} h lontgomery Street, San Francisco
California (herein called "Lien Holder"), and Wells Fal'~4o Bank, N.A., with its main office
located in the State of Iowa (herein called the "Lender").
RECITALS
Lien Holder is the beneficiary/mortgagee under a dccd o f trust/mortgage, dated March
22nd, 2002 executed by Kirby Joe Booth and Donna !,. Booth (the "Debtor") which was
recorded in the county of LINCOLN, State of WY, as Book 487...~p~PR Page 227 on April 12tb,
2003 (the "Subordinated Instrument") covering real property located in AFTON in the above-
named county of LINCOLN, State of WY, as more particularly described in the Subordinated
Instrument (the "Property").
PLEASE SEE ATTACHED EXHIBIT "A" (Legal Description)
Lender will make a loan to the Debtor secured by a dc, cd of trust/mortgage on the Property
which will be recorded (the "Lender Instrument"). The l,cmtcr Instrument will secure a
promissory note/line of credit agreement not to exceed thc amount of
$124,000.00.
Lien Holder has agreed t6 execute and deliver this Subordination Agreement.
ACCORDINGLY, in consideration of the property and for other good and valuable
consideration, the receipt and sufficiency of which arc hcreby acknowledged, Lien
Holder hereby agrees with Lender as follows:
Regardless of any priority otherwise availahlc 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 Instrulncnt, to the full extent of the sum
secured by the Lender Instrument, includim~/not only principal and interest on
the principal indebtedness secured thereby but all other sums secured by the
Lender Instrument, excluding non-obligatory future 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 ol'thc State of WY. It cannot be
waived or changed, except by a writing signed by the parties to be bound
thereby. This Agreement is made between l.ender 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 bc cnforceable by, Lender and its
successors and assigns. Neither the Debtor nor any other person (except
Lender, its successors and assigns), shall bc 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, N.A.
NOTICE: This
subordination ~jreement contains a provision which allows
the person obligated on your real property security to
obtain a loan ,~ portion of which may be expended for other
purposes than hnprovement of the land
By: Peter M. Buol
Title: Assistant Vice President
.'.,9388
STATE OF Minnesota )
) SS.
COUNTY OF Hennepin )
The foregoing instrument was acknowledged before mc this 31 st day of October,
2004, by Peter M. Buol Assistant Vice President of \Vdls Fargo Bank , N.A.
WITNESS my hand and official seal.
My commission expires: January 31, 2008
/Andre~J o
Notary Public
0a89
SCHEDULE "A
Lot 2 of Hialeah Subdivision, Lincoln County, Wyoming as
described on the official plat thereof.