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200908056
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Last modified
10/6/2009 3:33:12 PM
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10/6/2009 3:33:11 PM
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DEEDS
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200908056
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<br />200908054 <br />SUBORDINATION AGREEMENT <br />NOTPERTY BECOM NG SUBJECT TO AND OFR OWERSPRIORI Y THANITHE L ENEOFISOME <br />PRO <br />OTHER OR LATER SECURITY INSTRUMENT. <br />This Subordination Agreement, made this August 21, 2009 by Wells Fargo Bank, N. A., who is the <br />present owner and holder of the Deed of Trust first hereinafter described below as well as the promissory <br />note secured by the same, (hereinafter referred to as the "Lender"), on one hand and Wells Fargo Bank, <br />N. A., (hereinafter referred to as "New Lender"), on the other hand. <br />WITNESSETH <br />THAT WHEREAS, James D. Steinke And Jill M. Steinke, Husband And Wife, As Joint Tenants <br />(hereinafter referred to as "Owner") did execute a Deed of Trust, dated May 10, 2006 to Wells Fargo <br />Financial National Bank, as Trustee, covering that certain real property described as follows: <br />THE LEGAL DESCRIPTION IS ATTACHED HERETO AND MADE A PART HEREOF <br />APN: <br />To secure a note in the sum of $22,000.00, dated May 10, 2006, in favor of Wells Fargo Bank, N. A., <br />which Deed of Trust was recorded May 11, 2006, as 0200604201, Official Records of Hall County. <br />WHEREAS, Owner has executed, or is about to execute, a Deed of Trust or Mortgage (hereinafter <br />referred to as "New Lender's Security Instrument") and note not to exceed the sum of $139,637.00, dated <br />q ~ ~ ] p~~ , in favor of Wells Fargo Bank, N. A., its successors and/or assigns, payable with <br />interes and upon the terms and conditions described therein, which New Lender's Security Instrument is <br />to be recorded concurrently herewith; and <br />WHEREAS, It is a condition precedent to obtaining said loan that said New Lender's Security <br />Instrument last above mentioned shall unconditionally be and remain at all times a lien or charge upon <br />the land hereinbefore described, prior and superior to the lien or charge of the Deed of 'Trust first <br />mentioned. Owner has requested Lender to subordinate their lien to the lien about to be taken by the New <br />Lender; and <br />WHEREAS, New Lender is willing to make said loan provided the New Lender's Security Instrument <br />securing the same is a lien or charge upon the above described property prior and superior to the lien or <br />charge of the Deed of Trust first above mentioned and provided that Lender will specifically and <br />unconditionally subordinate the lien or charge of the Deed of Trust first above mentioned to the lien or <br />charge of the New Lender's Security Instrument in favor of the New Lender; and <br />55065D16381471998V8 <br />
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