HomeMy WebLinkAboutA021 - Subordination of Mortgage dated August 23, 1990 (second recording) l .. ✓/SM a,Si45
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SUBORDINATION
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 302, 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 1'1alO��-O 01 1994, as
Instrument No 9 -I 1011a, 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.
Dated this 28th day of October , 1994 .
INST.W3. q, "" �-Lil
CAPITAL MORTGAGE PLUS L.P. ,
q dA LIMITED PARTNERSHIP
��L.ED FOIR RECUa � D
,'�/
NOV 0 81994 BY asP s c' e Inc. ,
L VAN*6�111 '�AAo01
Re Fey$ BY
Se for V' e Pr ident
STATE OF , COUNTY OF , ss:
On this day of 0 , 1994 , before me, the
undersigned a Notary Pub is in and for said state, personally
appeared 4- J , to me personally known, who,
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being by me duly sworn, did say that the person is the Senior Vice
} President of CIP Associates, Inc. , the General Partner of CAPITAL
MORTGAGE PLUS L.P. , A LIMITED PARTNERSHIP, executing the foregoing
instrument, that n-o seal ha-s beien--procured by the corporation; that
the instrument was signed on behalf of the corporation as General
Partner of CAPITAL MORTGAGE PLUS L.P. , A LIMITED PARTNERSHIP, by
authority o th corporation's Board of Directors; and that
sN�2-i .- e� as that officer acknowledged execution of the
instrument to be Pfe voluntary act and deed f th corporation and
limited partners 'p by it and by the fi vol , `t-aoU executed.
Notary Public �1' and for said State`"`
% NOELLE GILKINSON .Sr tr.� u"i!t
Notary Public,State of New Yorfas.�„,,, r
No.30-4729331
Qualified in Nassau County' CY1� t°R'w�-
Certificate Filed in New York Coun
Commission Expires 2/28
UTILITY EASEMENTS
i 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°00100" W, 338.70 feet to the Point of
Beginning; thence N 00°00100" E, 48 .50 feet;
thence S 90000 ' 00" 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
9d.11518 �3�
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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. Commencing at the Northeast (NE) corner
of said Lot 1; thence S 00009 ' 31" W,
78 . 67 feet to the Point of Beginning;
thence S 90000100" W, 59.50 feet to the
Point of Ending;
b. Commencing at the Northeast (NE) corner
of said Lot 1; thence S 00009131" W,
501.27 feet to the Point of Beginning;
thence S 90000 ' 00" W, 56. 00 feet to the
Point of Ending;
C. Commencing at the Northwest (NW) corner
of said Lot 1; thence S 00009131" W,
88.82 feet to the Point of Beginning;
thence S 90000100" E, 64 . 00 feet to the
Point of Ending; AND
d. Commencing at the Northwest (NW) corner
of said Lot 1; thence S 00009131" W,
532 . 50 feet to the Point of Beginning;
thence S 90000100" 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
of said Lot 2; thence N 00009131" E,
333 .99 feet to the Point of Beginning;
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thence S 9o000100" W, 52 . 00 feet to the
► Point of Ending;
b. Commencing at the Southeast (SE) corner
of said Lot 2; thence S 90000100" W,
183 .33 feet to the Point of Beginning;
thence N 00000100" E, 50.50 feet to the
Point of Ending;
C. Commencing at the Southeast (SE) corner
of said Lot 2; thence S 90000100" 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 67030115" W,
91. 83 feet) to the Point of Beginning;
thence N 44059130" E, 48. 00 feet to the
Point of Ending; AND
d. Commencing at the Southeast (SE) corner
of said Lot 2; thence S 90000100" W,
431.83 fees; thence Northwesterly, along
a 120. 00 foot radius curve, concave
Northeasterly, an arc distance of 188.49
feet (the long chord bears N 45000100" W,
169 .71 feet) ; thence N 00000100" E,
203 . 81 feet to the Point of Beginning;
thence S 90000100" 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 00009131" E, 300.97 feet
to the Point of Beginning; thence S 90000100"
W, 480.78 feet; thence S 37050150" W, 117.16
feet to the West line of Lot 2 and the Point
of Ending.
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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 ��r day of �-� , 1994 .
MORTENSON II, A LIMITED PARTNERSHIP
EVERETT W. COCHRANE ---- _
/ By ll
MAR bR E L. COCHRANE
STATE OF IOWA )
) ss:
STORY COUNTY )
On this day of Se f , 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.
DM
LEE
MY
°N1 NOTARY PUBLIC - STATE OF IOWA
STATE OF IO
) ss:
STORY COUNTY )
On this 1 day of �i� 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.
DIXIE LEE NK
MY COM IS5 EXPIRES
°w /.i NOTARY PUBLIC - STATE OF IOWA
1191
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