HomeMy WebLinkAboutA024 - Subordination Agreement dated December 4, 2003 from Jensen Development Corporation 04 - 0006P C
INST.NO.
STORY COUNTY,IOWA
FILED FOR RECORD
JAIL a 2 2004 PM
SUSAN L.VANDE KAMP,RaoordwS-''
RETURN TO: REC•KE S I I1�Aug•FM$—
INSTRUMENT PREPARED 131': 1 David W. Benson, 1416 Buckeye Ave., Ames IA 50010(Tel: 233-3000)
SUBORDINATION AGREEMENT
WHEREAS,Ames Community Bank, (the "Mortgagee"), has an interest in the real estate
described in that certain real estate mortgage (the "Mortgage") dated 1-21• , 2003,
and filed in the office of the Recorder of Story County, Iowa, on 11-25 , 2003, and
recorded as Instrument Number 03- 24016
WHEREAS, Jensen Development Corporation, Ltd., (the "Mortgagor") as the owner of
the real estate described in the Mortgage, desires to grant to the City of Ames, Iowa an easement
for surface water flowage(the"Easement")over the following described real estate,to-wit:
That part of Parcel "A" of Lots 7, 8, 9 and 10, Sixth Addition, Dauntless
Subdivision to Ames, Story County, Iowa, as shown on the Plat of Survey filed
in the office of the Recorder of Story County, Iowa, on October 27, 2003 as
Instrument Number 03-22322, Slide 185, Page 2 described as "Commencing at
the Northwest corner of said parcel A; thence S17°55'00"W, 290.52 feet along
the west line of said Parcel A to the Point of Beginning; thence continuing
S57007'31"E, 70 feet;thence S32°5212911W, 15 feet;thence N57°07'31"W, 65.99
feet, thence N17°55'00"E, 15.53 feet to the Point of Beginning, containing
approximately .02 acres or 1019.94 square feet".
NOW, THEREFORE, for good and valuable consideration, the Mortgagee hereby agrees
that whatever right, title, lien, estate and interest the Mortgagee now has or may hereafter acquire
in the real estate described in the Mortgage,the Mortgage shall be junior, inferior and subordinate
to the Easement on that portion of the real estate described above and granted by the Mortgagor
to the City of Ames, Iowa. The Mortgagee further agrees that the City of Ames, Iowa may, at the
time of recording this instrument, complete the following identification of the Easement, to-wit:
The Easement is dated the _S day of 0 , 2003, and was filed in the
office of the Recorder of Story County, Iowa, on the -244 _day of "A ,-t@69
and recorded as Instrument Number-93- p V— QDo, 9
IN WITNESS WHEREOF,the Mortgagee has executed this instrument on the `day
of De ewVZ,` ,2003.
AMES COMMUNITY BANK
By
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