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WHEN RECORDED MAIL TO
<br />Wells Fargo Bank, N. A.
<br />Attn: Subordination Department
<br />MAC: P6051 -013
<br />18700 NW Walker Rd #92
<br />Beaverton, OR 97006-29W
<br />Leanne. 003"32566567 1 Tr SUBORDINATION AGREEMENT nt.aup
<br />C�
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE
<br />PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME
<br />OTHER OR LATER SECURITY INSTRUMENT.
<br />This Subordination Agreement, made this November 21, 2002 by WELLS FARGO BANK
<br />NEBRASKA, N A. (hereinafter referred to as "Beneficiary"), present owner and holder of the Deed of Trust
<br />and note first hereafter described, in favor of FIVE POINTS BANK, it's successors and /or assigns
<br />(hereinafter referred to as "Lender"):
<br />WITNESSETH
<br />THAT WHEREAS, Michael J Islay And Heidi S. Islay, Husband And Wife (hereinafter referred to as
<br />"Owner ") did execute a Deed of Trust, dated August 27, 2001 to Wells Fargo Bank Nebraska, National
<br />Association, as Trustee, covering that certain real property described as follows:
<br />THE LEGAL DESCRIPTION IS ATTACHED HERETO AND MADE A PART HEREOF
<br />APN: 400157942
<br />To secure a note in the sum of $13,222.10, dated August 27, 2001, in favor of Wells Fargo Bank
<br />Nebraska, National Association, which Deed of Trust was recorded October 22, 2001, as INSTRUMENT
<br /># 2001- 10648, Official Records of Hall county, and
<br />WHEREAS, Owner has executed, or is about to execute, a Deed of Trust or Mortgage (hereinafter
<br />referred to as "Lender's Security Instrument") and note not to exceed the sum of $96,000.00, dated
<br />November 25. 2002 , in favor of Lender, payable with interest and upon the terms and conditions
<br />described therein, which Lender's Security Instrument is to be recorded concurrently herewith; and
<br />WHEREAS, It is a condition precedent to obtaining said loan that said Lender's Security Instrument
<br />last above mentioned shall unconditionally be and remain at all times a lien or charge upon the land
<br />hereinbefore described, prior and superior to the lien or charge of the Deed of Trust first mentioned,
<br />Owner has requested Beneficiary to subordinate Beneficiary's lien to the lien about to be taken by the
<br />Lender: and
<br />WHEREAS, Lender is willing to make said loan provided the Lender's Security Instrument securing
<br />the same is a lien or charge upon the above described property prior and superior to the lien or charge of
<br />the Deed of Trust first above mentioned and provided that Beneficiary will specifically and unconditionally
<br />subordinate the lien or charge of the Deed of Trust first above mentioned to the lien or charge of the
<br />Lender's Security Instrument in favor of the Lender; and
<br />Page 1 u13
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<br />200213411
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<br />Leanne. 003"32566567 1 Tr SUBORDINATION AGREEMENT nt.aup
<br />C�
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE
<br />PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME
<br />OTHER OR LATER SECURITY INSTRUMENT.
<br />This Subordination Agreement, made this November 21, 2002 by WELLS FARGO BANK
<br />NEBRASKA, N A. (hereinafter referred to as "Beneficiary"), present owner and holder of the Deed of Trust
<br />and note first hereafter described, in favor of FIVE POINTS BANK, it's successors and /or assigns
<br />(hereinafter referred to as "Lender"):
<br />WITNESSETH
<br />THAT WHEREAS, Michael J Islay And Heidi S. Islay, Husband And Wife (hereinafter referred to as
<br />"Owner ") did execute a Deed of Trust, dated August 27, 2001 to Wells Fargo Bank Nebraska, National
<br />Association, as Trustee, covering that certain real property described as follows:
<br />THE LEGAL DESCRIPTION IS ATTACHED HERETO AND MADE A PART HEREOF
<br />APN: 400157942
<br />To secure a note in the sum of $13,222.10, dated August 27, 2001, in favor of Wells Fargo Bank
<br />Nebraska, National Association, which Deed of Trust was recorded October 22, 2001, as INSTRUMENT
<br /># 2001- 10648, Official Records of Hall county, and
<br />WHEREAS, Owner has executed, or is about to execute, a Deed of Trust or Mortgage (hereinafter
<br />referred to as "Lender's Security Instrument") and note not to exceed the sum of $96,000.00, dated
<br />November 25. 2002 , in favor of Lender, payable with interest and upon the terms and conditions
<br />described therein, which Lender's Security Instrument is to be recorded concurrently herewith; and
<br />WHEREAS, It is a condition precedent to obtaining said loan that said Lender's Security Instrument
<br />last above mentioned shall unconditionally be and remain at all times a lien or charge upon the land
<br />hereinbefore described, prior and superior to the lien or charge of the Deed of Trust first mentioned,
<br />Owner has requested Beneficiary to subordinate Beneficiary's lien to the lien about to be taken by the
<br />Lender: and
<br />WHEREAS, Lender is willing to make said loan provided the Lender's Security Instrument securing
<br />the same is a lien or charge upon the above described property prior and superior to the lien or charge of
<br />the Deed of Trust first above mentioned and provided that Beneficiary will specifically and unconditionally
<br />subordinate the lien or charge of the Deed of Trust first above mentioned to the lien or charge of the
<br />Lender's Security Instrument in favor of the Lender; and
<br />Page 1 u13
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