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Home My WebLink About20080718NUM PGS ~,_ N~ DOC TAX CK#__ppAp FEES S® PD CK# I~~VVi~~~tf~ CHG ~~D"``ACCT #1• RETFEES: CASH~j'~R.O.D.CK# REC'D~u-AJ/E ~(, f/,'iCT6Q~TlTL ~ RETURN ~/IA~TF~~TLE- ~~~ N $u~tuv~rO.uA~.1op /f~Asrw4s, ~E GBlmi NUM _ 7- BID RD. COMP ~__~'~59 COMPARE !~~ CADAS _ =____ AO ~ Date~2G"D~Tlme~~ ern ~~,~, ~, REGISTER OF DEEDS SUBORDINATION AGREEMENT 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. This Subordination Agreement, made this February 6, 2008 by V'Jells Fargo Bank, N. A., who is the present owner and holder of the Deed of Trust first hereinafter described below as well as the promissory note secured by the same, (hereinafter referred to as the "Lender"), on one hand and Wells Fargo Bank, N. A., (hereinafter referred to as "New Lender"), on the other hand. WITNESSETH THAT WHEREAS, Daniel E. Evans And Connie J. Evans, Husband And Wife (hereinafter referred to as "Owner") did execute a Deed of Trust, dated September 7, 2007 1;o Wells Fargo Financial National Bank, as Trustee, covering that certain real property described as follows: THE LEGAL DESCRIPTION IS ATTACHED HERETO AND MADE A PART HEREOF APN: To secure a note in the sum of $39,557.00, dated September 7, 2007, in favor of Wells Fargo Bank, N. A., which Deed of Trust was recorded October 9, 2007, as DOCUMENT NUMBER 20074501, Official Records of Adams County. WHEREAS, Owner has executed, or is about to execute, a Deed of Trust or Mortgage (hereinafter referred to as "New Lender's Security Instrument") and note not to exceed the sum of $170,000.00, dated f , in favor of Wells Fargo Bank, N. A., its successors and/or assigns, payable with interest an upon the terms and conditions described therein, which New Lender's Security Instrument is to be recorded concurrently herewith; and WHEREAS, It is a condition precedent to obtaining said loan that said New Lender's Security Instrument last above mentioned shall unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and superior to the lien or charge of the Deed of Trust first mentioned. Owner has requested Lender to subordinate their lien to the lien about to be taken by the New Lender; and WHEREAS, New Lender is willing to make said loan provided the New Lender's Security Instrument securing the same is a lien or charge upon the above described property prior and superior to the lien or charge of the Deed of Trust first above mentioned and provided that Lender will specifically and unconditionally subordinate the lien or charge of the Deed of Trust first above mentioned to the lien or charge of the New Lender's Security Instrument in favor of the New Lender; and 65065070824640001 RC 20U8Q`7~8 WHEREAS, It is to the mutual benefit of the parties hereto that New Lender make such loan to Owner; Lender is willing that the New Lender's Security Instrument securing the same shall, when recorded, constitute a lien or charge upon said land which is unconditionally prior and superior to the lien or charge of the Deed of Trust 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 consideration is hereby acknowledged, and in order to induce New Lender to make the loan above referred to, it is hereby declared, understood and agreed to as follows: (1) That said New Lender's Security Instrument securing said note in favor of New Lender, 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 lien or charge of the Deed of Trust first above mentioned. (2) That New Lender would not make its loan above described without this subordination agreement. (3) That this agreement shall be the whole and only agreement with regard to the subordination of the lien or charge of the Deed of Trust first above mentioned to the lien or charge of the New Lender's Security Instrument in favor of the New Lender above referred to and shall supersede and cancel, but only insofar as would affect the priority between the lien instruments hereinbefore specifically described, any prior agreements as to such subordination including, but not limited to, those provisions, if any, contained in the Deed of Trust first above mentioned, which provide for the subordination of the lien or charge thereof to another deed or deeds of trust or to another mortgage or mortgages. Lender declares, agrees and acknowledges that: (a) It consents to and approves (i) all provisions of the note and New Lender's Security Instrument in favor of New Lender above referred to, and (ii) all agreements, including but not limited to any loan or escrow agreements, between Owner and New Lender for the disbursement of the proceeds of New Lender's loan. (b) New Lender in making disbursements pursuant to any such agreement is under no obligation or duty to, nor has New Lender represented that it will, see to the application of such proceeds by the person or persons to whom New 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. (c) They intentionally waive, relinquish and subordinate the lien or charge of the Deed of Trust first above mentioned in favor of the lien or charge upon said land of the New Lender's Security Instrument in favor of New Lender above referred to and understand that in reliance upon, and in consideration of, this waiver, relinquishment and subordination 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; and (d) An endorsement has been placed upon the note secured by the Deed of Trust first above mentioned that said Deed of Trust has by this instrument been subordinated to the lien or charge of the New Lender's Security Instrument in favor of New Lender above referred to. IN WITNESS WHEREOF, the undersigned has hereunto set his/her/their hand(s); if the undersigned is a corporation, it has caused its corporate name to be affixed hereunto by its officers duly authorized thereunto by order of its board of directors, on this, the day and year first above written. 65065070824640001 RC f~ ~'~~?~ 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 LAND. Wells Fargo Bank, N. A,_ .r ` j Barbara Edwards; Authorized Signer STATE OF: OREGON ) SS COUNTY OF: WASHINGTON ) On February 6, 2008 before me, r~f~~tJK~-t.~'J ~ ~~ .yh ~„~,~,, a Notary Public in and for said state, personally appeared, Barbara Edwards, Authorized Signer, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed. to the within instrument and acknowledge to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. NOTARY STAMP OR SEAL Notary Public in and for said Cou nd State RONALD~A HOl MGREN •• NOTFIHY PUE3LIC-0REGON This instrument was prepared by: MY COMMISSION DCPIRES JAN~28,~2011 Barbara Edwards 18700 NW Walker Rd #92 Beaverton, OR 97006 Return to: Wells Fargo Bank, N.A. Attn: Doc. Management MAC 86955-011 PO Box 31557 Billings, MT 59107-1557 6506507082464000] RC I~ ~~~~W~~~ Apart of the Southwest Quarter o[ Section 7, Township 8 Nortli, Range 10, Nest of the 6th P.M,, Adams County, Nebraska, more particularly described as follows: Commencing at a point 41;25 feet Easf and 710.0 feet North of the Southwest corner of Section 7, Township 8 North, Range 10, West of the 6thP,M., , thence East a distance of 342.0 feet, thence Nortl parallel to tiie West Sectional line a distance of 582.0 feet, thence West a distance of 342.0 feet to a point 41.25 feet East of tl~e Sectional Iine, thence Sauth a distance of 582.0 feel' parallel to the Sectional line to the point of beginning, except that portion deeded to Adams Cowity, Nebraska [or road right-of-way as filed in Book 180, Yage 419. 'S~