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HomeMy WebLinkAboutA018 - Subordination of Mortgage dated August 23, 1990 I 4, �,. � ; �� a -�}$l.+�A t r a e�', rSv"(tsl`r;, 1�K �4.,n Y r 1•' + 1 �r7 oa°+ � . ` 1 �r . •' 'I " t�� JVy'�� -� Aigr S�„ i�o 'r�w�i��y f '.t fi �i�;•+s �A,2.,� � i t - r...•�.•r.A... "tl_'.Lew�G,zls.. ' .!. ..�,.�..e,..:.4a;:�.t�'.:.........,I. ..?._�' .... .`r , .. M..�.�r,..'�.ti..,.. ..._... .,. ....._.. ._ _. SASS. .,.,.....1....ro._.,i_...,, .. 3 _ ... .SASS._ Sly P � SIIBORDINATION The undersigned, the present owner of the mortgage hereinafter described, for valuable consideration, receipt of which is hereby acknowledged, hereby agrees that the lien of the following real estate mortgage executed by MORTENSON II, A LIMITED PARTNERSHIP: Mortgage dated August 23 , 1990, and filed for record on August 24, 1990, in Book 397, Page 291, records of Story County, Iowa; shall be junior, inferior and subordinate to the interests of the CITY OF AMES, IOWA, in the areas designated for easements in the Utility Easement filed for record on , 1994, as Instrument No.9 Y-11 10, a copy of which is attached hereto, marked Exhibit "A", and made a part hereof. The undersigned specifically retains and reserves the mortgage lien and all mortgage rights against all of the remaining property embraced in the mortgage above described. Words and phrases herein, including acknowledgment hereof, shall be construed as in the singular or plural, and as masculine, feminine or neuter gender, according to the context. ,,,Da'ted this 28th day of October , 1994 . •'1 <-.t,'' f RELATED MORTGAGE CORPORATION B y •1�� �,. C ) s s: C TY ) rkt 1994 b or m the O this day of © Z�?� , , undersigned, a Notary Public in .and for the State of eW ca2� , personally appeared, *to me personally known who being by me duly sworn, did say that he is the ' V iCe re-e-S, of the corporation executing the within and foregoing instrument, that the *BRUCE H. BROWN 11915 STORY CQ FILED FOR RECORD 5 NOV 0 81994 PM 3 -- 91.jANl� NDE .ReoW aWe R d1VPW$ 0 p►uipti ► . -"_ SWAM r. 2 seal affixed thereto is the seal of the corporation; that said instrument was signed and sealed on behalf of the corporation by authority of its Board of Directors; and that K"Ce H '6R2 c"'iN as such officer acknowledged the executiMof the foregoing instrument to be the voluntary act and deed of e corrati n, .by it and by him voluntarily executed. Notar v`Pl`u/blic i Nan GfMOa iC� Staff ; Ngtitry Public,State of-New York No.3A-4728331 i u *'0 Qualified in Nassau county t Certificate Filed in NewyorkCo, r�4 � a '•. Commission Expires {.r�� ' 1 t V 9 q 5 Q L tP qL -JLI.jS ��� UTILITY EASEMENTS EVERETT W. COCHRANE and MARJORIE L. COCHRANE, husband and wife, and MORTENSON II, A LIMITED PARTNERSHIP, do hereby grant unto the CITY OF AMES, IOWA, its successors and assigns, the following easements: A. GENERAL UTILITY. The perpetual right to construct, reconstruct, maintain and use utility services, equipment and apparatus upon, underground, over or across the following described portions of COCHRANE'S SECOND ADDITION TO AMES, IOWA: 1. The North 15 feet of Lot 1; 2. The East 25 feet, the Westerly 15 feet, the Southerly 15 feet, and the North 30 feet of Lot 2; A 20-foot wide strip across part of said Lot 2, 10 feet on each side of the following described centerline: Commencing at the Southeast (SE) corner of said Lot 2; thence S 90-0010011 W, 338.70 feet to the Point of Beginning; thence N 0000010011 E, 48 . 50 feet; thence S 9000010011 W, 189.51 feet to the West line of said Lot 2 and the Point of Ending; 3 . The Northerly 15 feet, the Northwesterly 15 feet, the West 10 feet, the East 20 feet, and the South 20 feet of Lot 3; 4 . The North 10 feet, the West 20 feet, the South 20 feet, the Easterly 15 feet except the South 257. 20 feet thereof, and the East 10 feet of the South 257.20 feet of Lot 4; AND 5. The North 15 feet, the West 20 feet, the South 10 feet, and the East 15 feet of Lot 5. The undersigned do further hereby grant to the CITY OF AMES, IOWA, the right to permit other utility companies to construct and, in the same manner, maintain their utility facilities, jointly or `'I- 119i5 �3� q`� 2 severally, upon, underground, over or across the real estate described above. B. WATER MAINS. The perpetual right to construct, reconstruct, and maintain water mains within the following described portions of COCHRANE'S SECOND ADDITION TO AMES, IOWA: 1. 10-foot wide strips across parts of Lot 1, 5 feet on each side of the following described •centerlines: a. Commencingat the Northeast NE corner ( ) of said Lot 1; thence S 0000913111 W, 78. 67 feet to the Point of Beginning; thence S 9000010011 W, 59.50 feet to the Point of Ending; b. Commencing at the Northeast (NE) corner of said Lot 1; thence S 0000913111 W, 501.27 feet to the Point of Beginning; thence S 9000010011 W, 56. 00 feet to the Point of Ending; C. Commencing at the Northwest (NW) corner of said Lot 1; thence S 0000913111 W, 88 . 82 feet to the Point of Beginning; thence S 9000010011 E, 64. 00 feet to the Point of Ending; AND d. Commencing at the Northwest (NW) corner of said Lot 1; thence S 0000913111 W, 532 . 50 feet to the Point of Beginning; thence S 9000010011 E, 65. 00 feet to the Point of Ending; AND 2 . The East 25 feet and the North 30 feet of the West 335 feet of Lot 2; AND 10-foot wide strips across parts of said Lot 2, 5 feet on each side of the following described centerlines: a. Commencing at the Southeast (SE) corner i of said Lot 2; thence N 0000913111 E, 333 .99 feet to the Point of Beginning; LU..11q�s (4) . r ' 3 thence S 90000 ' 00" W, 52. 00 feet to the Point of Ending; b. Commencing at the Southeast (SE) corner of said Lot 2; thence S 90000 ' 00" W, 183 . 33 feet to the Point of Beginning; thence N 0000010011 E, 50.50 feet to the Point of Ending; C. Commencing at the Southeast (SE) corner of said Lot 2; thence S 90000 ' 00" W, 431.83 feet; thence Northwesterly, along a 120. 00 foot radius curve, concave Northeasterly, an arc distance of 94 .23 feet (the long chord bears N 6703011511 W, 91.83 feet) to the Point of Beginning; thence N 4405913011 E, 48. 00 feet to the Point of Ending; AND d. Commencing at the Southeast (SE) corner of said Lot 2; thence S 90000 ' 00" W, 431.83 feet; thence Northwesterly, along a 120. 00 foot radius curve, concave Northeasterly, an arc distance of 188.49 feet (the longs chord bears N 450001001, W, 169 .71 feet) ; thence N 00000 ' 00" E, 203 .81 feet to the Point of Beginning; thence S 9000010011 E, 73 . 00 feet to the Point of Ending. C. STORM SEWERS. The perpetual right to construct, reconstruct, maintain and use its storm sewer system within the following described portions Of COCHRANE'S SECOND ADDITION TO AMES, IOWA: The East 25 feet of Lot 2; AND A 15-foot wide strip across said Lot 2, 7.5 feet on each side of the following described centerline: Commencing at the Southeast (SE) corner of said Lot 2; thence N 0000913111 E, 300.97 feet to the Point of Beginning; thence S 90000 ,001, W, 480.78 feet; thence S 3705015011 W, 117.16 feet to the West line of Lot 2 and the Point of Ending. W-nqis- 65) Y 4 The foregoing rights are granted upon the express condition that the users of the granted rights will assume liability for all damage to the real estate described herein and any adjacent real estate caused by failure to use due care in the exercise of the granted rights. � �' Dated this day of �� , 1994 . MORTENSON II, A LIMITED PARTNERSHIP EVERETT W. COCHRANE , MAR 6R E L. COCHRANE STATE OF IOWA ) ) ss: STORY COUNTY ) On this �_ day of if� , 1994, before me, the undersigned, a Notary Public in and for the said County and said State; personally appeared EVERETT W. COCHRANE and MARJORIE L. COCHRANE, husband and wife, to me known to be the identical persons named in and who executed the foregoing instrument and acknowledged that they executed the same as their voluntary act and deed. T OIXIE lEE INKMYoCp�ISSI GPIRES NOTARY PUBLIC - STATE OF IOWA STATE OF IO ) ss: STORY COUNTY ) On this day ofC�f� , 1994, before me, the undersigned, a Notary Public in and for the State of Iowa, personally appeared EVERETT W. COCHRANE, to me personally known, who, being by me duly sworn, did say that the person is a General Partner of MORTENSON II, an Iowa limited partnership, executing the foregoing instrument, that the instrument was signed on behalf of the limited partnership by authority of the limited partnership; and the general partner acknowledged the execution of the instrument to be the voluntary act and deed of the limited partnership, by it and by the general partner voluntarily executed. ��'' `•t DIXIE E` MY cOM ISS EXPIRES ' NOTARY PUBLIC - STATE OF IOWA 41f14'7