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Home My WebLink About1999 - Subordination Agreement - Wertman Donald / Wertman Beverly - 9902092197AFTER RECORDING MAIL TO: City of Tukv:ile Tukwila CO; Hall 6200 Somhcenter Rearward Tukwila, WA 93188 Subordination Agreemen 5 Escrow No. 98622 Title Order No. 53510 Felt_ leua: en Puccial 71o. 017900- :o11-36. NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY BECON "N'G SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT. The undersigned subordinator and owner agrees `o :lows: 1. City of Tukwila, referred to herein as 'subordinator,' is the o::nor and holder of a Ordinance e1777 dated November 4, 1996, '::Itch is recorded under Recording No. 97E6120642, records of King County. 2. Headiands Ma roaga Company, referred to herein as 'ender,' is the owner and holder of a mortoagefdeed of trust dated February 1, 1999, executed by Donald ht. Wertman and Beverly J. Wertman, Husband and Wife (which is to b_- recorded concurrentl haresith C i"' 3. Donald M. Wertman and Beverly J. Wertman, Husband and Wife, referred to herein as `o•::nar,' is the owner of el the real property described in the mortaace :deed of trust identified above in Paragraph 2. In consideration of benefits to 'subordinator" from owner,' receipt and sufficiency of vrhich is hereby acknowledged, and to induce 'lender' to advance funds under its mortgape; deed of trust and all agreements in connection therewith, the 'subordinator' does hereby uncondi iona!y subordinate the Fen of his mortgage`deed of trust, identified in Pe•agresh 1 above to the ten of 'lender's mortgage :dead of trust, identified io P_ 2 above, and al advances or chances mode or accruing thereunder, including any extension ar renewal thereof. 5. 'Subordinator` acknowledges that, Briar to the exe cution hereof, he has had the opportunity to examine the terms of 'lender's' mortgage deed of trust, note and agreements relating thereto, consents to end approves same, and recognizes that 'lender` has no obligation to subordinator to advance any funds under its mortgage.deed of trust or see to the application of `lender's' mortgage funds, and any application or use of such funds to purposes other than those provided for in such martgege!deed of trust, nate, or agreements shall not defeat the subordination herein made to whole or in part. 3. It is understood by the per._'es hereto that lender' would not make the loan secured by the mortoazerdeed of trust in Paragraph 2 without this a a 7. This agreement shall be the 'whole and only agreement between the parties hereto with renard to the subordination of the lien or charge of the mortgage :deed of trust firs above mentioned to the Fen or charge_ of the mortoagefdeed of trust in favor of '.ender' above referred to and shall supercede and cancel any prior agreements as to such, or any, subordination including, but not limited to, those provisions, if any, contained in the mortgegedeed of trust first above mentioned, which provide for the subordination of the lien or charge thereof to a martgaoeaeedls` of trust to be thereafter executed_ 8. The heirs, administrators, assigns and successors in interest of the 'subordinator' shall be found by this agreement In all instances, gender and number of pronouns are considered to conform to the unce:s_igned. ier Executed this February 3, 1999. 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 THE LAND. IT IS RECOK1i1ENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO. Dona7d M. \ierunen City of Tuk BY: ;Ste-eye-so- RY: AA i J: tr Stare_ of Washington County of Pierce I teat; that I know or hs:e sat evidence that Done'd M Wertman and Beverly J...e .mar is are the person's) who appeared before me, end said person's; act t'.v added that they sinned this instrument and ackrt .jednsd it to be their free_ and r.lunter; act for the uses and purposes mentioned in this instrychent. �F(_ Dated: t 07 4,3_O State of Washington County of-King }ss_ ss. John W. Rants it Robert Roe 1 certify that I know or have satisfactory evidence thews(a� the cerscnlsi -.oho appeared batere ma, and said person's) ackcowledgad that signed this instrument, on oath stated that authorized to executetheinstrumentandeo kno-. :ledae_ditasme Mayne end Citv Attorney of City of Tuknila to to the free end vo',untar; ant of such penny for the uses and purposes mentioned in ti instrument. Dated: r lt 1S Ep h t ✓.i Q' a.- C 4lilr i Q --;.;.s.."- c e r r I a r: Fuo n ed for F S :e c ington i�:0 N0 YI.: G ri Resgtinn at i V j 1 m alt My apps :ntment exP :res r i";.. x 2 It h Q'YNSr:\ Notary Public in n for the State of Washington Residino at My appointment expires 10? 4 1 NORM F_ALF OF LOT 5, BLE. 5, 2-i-LI:LN _L,2. TO 1= CITY OF S=!T'il2,..3, ACCORDING TO sr 3 .SCIO?-1= IN V0L:W3 12 OF PAGE CS 100, nz flN CCDNTY, wAsHiNacoN.