HomeMy WebLinkAboutA012 - Mortgagee's Subordination by Union Planters Bank INSTRUMENT PREPARED BY: I David W.Benson, 1416 Buckeye Ave.,Ames IA 50010(Tel:233-3000)
MORTGAGEE'S SUBORDINATION
(Sixth Addition, Dauntless Subdivision,Ames, Iowa)
WHEREAS, UNION PLANTERS BANK, N.A. (f/k/a Magna Bank, N.A.), (the
"Mortgagee") has an interest in the real estate described in the easement instrument to which this
Mortgagee's Subordination is attached as lender under a real estate mortgage dated December 8,
1997, and filed in the office of the Recorder of Story County, Iowa, on December 9, 1997, and
recorded as Instrument Number 97-13348; and as lender under an assignment of rents dated
December 8, 1997, and filed in the office of the Recorder of Story County, Iowa, on December 9,
1997,and recorded as Instrument Number 97-13349.
WHEREAS, the Mortgagee has been requested to subordinate its rights under said
mortgage and assignment of rents to the rights of the Grantee, its successors and assigns, under
the attached easement instrument in connection with the final subdivision plat of Sixth Addition,
Dauntless Subdivision,Ames,Iowa, and deems it advisable to do so.
NOW, THEREFORE, the undersigned, for good and valuable consideration, agrees that
whatever right, title, lien, estate and interest the Mortgagee now has or may hereafter acquire in
said real estate by virtue of the aforesaid real estate mortgage and assignment of rents the same
shall be junior, inferior and subordinate to the rights of the Grantee, its successors and assigns,
under the attached easement instrument.
IN WITNESS WHEREOF, the Mortgagee has caused this instrument to be executed on
its behalf on this 4th day of May, 2001.
UNIOXPLANTE NK,N.A.
By `
PAUL PICK,Vice President
STATE OF IOWA, COUNTY OF POLK, SS:
On May 4, 2001, before me the undersigned, a Notary Public in and for said state,
personally appeared PAUL PICK, to me personally known, who, being by me duly sworn, did
say that he is the Vice President of said CORPORATION executing the foregoing instrument;
that NO SEAL has been procured by the said corporation; that said instrument was signed on
behalf of said corporation by authority of its Board of Directors; and that the said PAUL PICK as
such officer acknowledged the execution of said instrument to be the voluntary act and deed of
said corporation, by it and by him voluntarily executed.
TRACFY L. PEPETERSENNotary Pu is T/L4Ce/ G, jP&7vzr
'►�
MY C`:-' _-!'L:=: SIRES
1'rW -a v
01 - 06389 $