HomeMy WebLinkAbout2000 - Subordination Agreement - AAMES Funding Corporation / Sandy Cheesman - 20000306000711AFTER RECORDLNGc MAIL TO. I•
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KM; county, 1:% 10.2,3
FHA for Rexrd at Request of
Angle Lake Escrow, Inc.
across-Number: 00-03939
Subordination Aare (CORDED BY
Refereax Number(s):
Grantor(s): THE CITY OF TUKATIA ng -,y4Y. C:G
Grantee(s): "_S FUNDING eazoz_aos Fee Pas
Order No. Ii I. etIhi is u
NOTICE: THLS SUBORDLNATION AGREEMENT RESULTS LN YOUR SECURITY LVrEREST LN
Loh PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN IRE LIEN OF
c SOSIE Of HER ORLA1ERSECURITYL NSIRUZIENT.
o The undersioaed subordinator and ow>rer scree as follow_:
L HE CITY OF TUT. a,
e referred to bersin as 'subordinator', is Meowner and holder of a eorioaos dated SE ?T rER 24
1998 which is rxorded in volume of Mortgag page
under auditors file No. 9 so 3240 ,rexrds of KING County.
—S Fln;Dn ;O CORPORATION
re ferrs to hr rein as'1_nder', istho owner and boldr of a marsanedated =E- R. =2"i i6 ,20x0
executed by `k DY Can SCN
(which is recorded in volume of Motga_s, page under
auditors file No.f_/ r, )fl jnr' Q7Y` ords of -s -'fit= County) (which is to
be recorded co cur ently herewith).
3. SANDY CHEESYS a single -son
refund to herein as 'owner', is the owner of all the real property descnbed in the mortgage identified
above in Para_aph 2.
4. In consideration of benefits to 'subordinator' from 'owner% receipt and aiffiriercy of wbirh is hereby
acknowledged, and to index 'leader to advance funds under its rortsare and all aver— ru=nts in
connection therewith, the 'subordinator' does hereby unconditionally __bo dinate the Ilea of his rnortoa
identified in Paragraph 1 above to the lien of 'lenders' mortgage, identifisd in Paragraph 2 above, and all
advances or charges made or awcruing thereun der, including any extension or renewal tberbof.
5. 'Subordinator' ackawwiede s that prior to the execution hereof, he has had the oppo :unity to examine
the terms of 'leader's' martaee, no"e and agr -netts relators thereto, co n. r.Ls to and appmvea same and
revsoires that 'lender has no oblieation to 'subordinator` to advance env funds under its mortgage or Se,"
to the application of '!-:enders' mortgass funds, and any application or us-- of s_rh funds for purpn• otter
than the provided for in such martease, note or agr shall rat defeat the subordination hersin made
in woole or in part.
6. It is understood by the parties tavern that 'lender would not mvSe the loan versus by the mort_a_s in
r=
Pasnph 2 without this aer
7. This aen=m nt shall be the whole and only agree, tut teox e n the partix hereto v.ith re-card to the
subordination of the lien or charge of the martraee first above mentioned to tie lies or ebarse of the
mcrteage in favor of 'lender' above referred to and shall supercede and ranx7 any prior a -e resents as to
_such, or any, subordination inriudioe. but not limited to, those provisions, if any, contaitnd in the
snort ase firs above mentioned, which provides for the subordination of the lien or charts thereof to a
mortgage or mortgages to he thereafter executes.
8. The heir_, administrators, asinrs and s_arvrs in interest of the 'subordinator shall be bound by this
agr m,eoL Where the word'm orteage appears herein it stall be considered as d.1 of trust', and g_ecder
and number ofpmno ens considered to conform to under in_ned.
Pas= 1 Li &35
Executed this
1 t day of FEBRUARY 2(03
NOTICE: THIS SUBORDINATION CONTAINS A PROVISION \SHICH ALLOWS HE PERSON
OBLIGATED ON YOUR REAL PROPERTY SEC TO OBTAIN A LOAN A PORTION OF
MUCH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND. IT
IS RECOMMENDED THAT, PRIOR TO 1HE EXECUTION OF THUS SUBORDINATION
AGREEMENT, 1131. PARTIES CONSULT 1 HEIR ATTORNEYS WITH RESPECT THERETO.
CITY o T d e r i L I ,ri C S7r tc?
'Y
STATE OF WASHINGTON
KING
of NG
SS:
Iortify that I know or have ratisfacton'evidea- that o3FY A1/4 C
s t6_ petson who app before
on, and said person 7aarknowladg d that /7 e silted this instrument on oath stated that fl C j
authoriz-,.i to execute theinsstruv<nt and a_aInowl it re the CITY A__.._N__
to be the Be.- and voluntary act of naoh party for the tae- and purpos; -s mentioned in instrument.
IS n ✓'E 1`i✓fS
1,1 1 1 tt Noan'Publicinp-d for the State of::- -S-- ]___:C
w I R aid ing a
i=OI..RY G, My appointmani expires: ,7°
LP3-55
ATTACHED TO and =lea part
of subordination A.c
STATE OF SHINGTC]i
County of KING
I certify than know or have slisfatory eideax that `=NAY C
as the Perron who appeared before ree, and sid person arknoatedeed that she
signed this in>wmat and afea o.vled_e it to be free ad yolur._ry act for the n_ and pirpsa
inettionel in this ini
Datnl: February 18th. 2000
ACKNOWLEDGMENT
SS:
Notary lc in and for the St; n S _=:G_C1
Raiding at r: .,Ay
{y apNintr eut expires: =0 191 2 002