HomeMy WebLinkAboutA014 - Mortgagee's Partial Release and Partial Subordination of Mortgage dated July 7, 2002 by First American Bank RETURN TO: D 2 - 10750
INST.NO.
BRIAN J HUMKE STORY COUNTY,IOWA
NYEMAASTER LAW FIRM FILED FOR RECORD 55
1416 BUCKEYE AVE SUITE 200 ��/
AMES IOWA 50010 JUL 2 5 2002 PM D
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SUSAN L VANDE KAMP,RecorderS%^-
F511 FEE L36.OOAUD.FEE i_,.__.
Prepared by, and when recorded, return to: R. Michael Hayes, Hubbell Realty Company, 904
Walnut Street, Suite 900, Des Moines, Iowa 50309-3574, (515) 280-2051
SPACE ABOVE THIS LINE FOR RECORDER
MORTGAGEE'S PARTIAL RELEASE AND
AND PARTIAL SUBORDINATION OF MORTGAGE
KNOW ALL MEN BY THESE PRESENTS: That First American Bank is the
present owner of the Mortgagee's interest in that certain Mortgage, granted by The
Reserve, L.C., as Mortgagor, dated June 4, 2002 and filed for record in the Office of the
Recorder for Story County, Iowa on June 5, 2002, as Instrument No. 02-08231, Book_
at Page , (the "Mortgage"), which Mortgage creates a lien on the property described
on the attached Exhibit "A", (the "Mortgaged Property"), which is part of the property
described on the attached Exhibit "B" that is to be platted as The Reserve, an Official
Plat, now included in and forming a part of the City of Ames, Story County, Iowa.
For valuable consideration, the receipt and sufficiency of which is hereby acknowledged, First
American does hereby:
1. Release and discharge said Mortgage as to the portion of the Mortgaged Property
platted as Lots A, B, C, and D, (which Lots are for Street right-of-way purposes) on the
Final Plat of The Reserve; and
2. Subordinates the lien of its Mortgage to the Public Utility Easements granted by
Mortgagor to the City of Ames, Iowa, to construct, reconstruct, maintain and use its
underground electric lines, consisting of underground cables, above ground utilities and
other similar equipment, or any part thereof, upon, underground, over or across the
following described real estate, all within The Reserve, Ames, Iowa:
Lot No. Easement Area
1 Southerly 10 feet and the Westerly 10 feet
2 Westerly 10 feet
3 Westerly 10 feet
4 Westerly 10 feet
5 Westerly 10 feet
6 Southwesterly 10 feet
7 Southerly 10 feet
8 Southerly 10 feet
9 Southeasterly 10 feet
10 Easterly 10 feet
11 Northeasterly 10 feet
12 Northeasterly 10 feet and the Easterly 10 feet
13 Easterly 10 feet
14 Easterly 10 feet
15 Easterly 10 feet and the Southerly 10 feet
16 Southerly 10 feet and the Westerly 10 feet
17 Westerly 10 feet
18 Southwesterly 10 feet
19 Southerly 10 feet
20 Southeasterly 10 feet
21 Easterly 10 feet
22 Easterly 10 feet and the Southerly 10 feet
23 Southerly 10 feet and the Westerly 10 feet
24 Westerly 10 feet
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25 Westerly 10 feet
26 Westerly 10 feet
27 Westerly 10 feet
28 Westerly 10 feet
29 Southwest 10 feet
30 Southerly 10 feet
31 Southerly 10 feet
32 Southerly 10 feet
33 Southerly 10 feet
34 Southeasterly 10 feet
35 Easterly 10 feet
36 Northeasterly 10 feet
37 Northerly 10 feet
38 Easterly 10 feet and the Northerly 10 feet
39 Easterly 10 feet and the Southerly 10 feet
40 Southerly 10 feet
41 Southeasterly 10 feet
42 Easterly 10 feet
43 Northeasterly 10 feet
44 Easterly 10 feet and the Northerly 10 feet
3. Subordinates the lien of its Mortgage to the Electric Utility Easements granted by
Mortgagor to the City of Ames, Iowa, to construct, reconstruct, maintain and use its
underground electric lines, consisting of underground cables, above ground utilities and
other similar equipment, or any part thereof, upon, underground, over or across the
following described real estate, all within The Reserve, Ames, Iowa:
Lot No. Easement Area
12 Southerly 5 feet
13 Northerly 5 feet
17 Northerly 5 feet
18 Southerly 5 feet
4. Subordinates the lien of its Mortgage to the Storm Sewer and Surface Water
Drainage Easements granted by Mortgagor to the City of Ames, Iowa, to use the
following described real estate as part of its storm sewer and surface drainage system
over, under and across:
Lot No. Surface Drainage Easement Area
34 West 70 feet
35 West 70 feet
36 West 70 feet, South 12.5 feet and the Easterly 7.5 feet
37 South 12.5 feet and the Westerly 7.5 feet
38 South 12.5 feet
39 North 12.5 feet
40 North 12.5 feet
41 Beginning at the Northwest corner of Lot 41; thence
N870 13'31"E, 116.06 feet; thence S31°40'29"E, 14.28 feet;
thence S87°13'31"W, 57.00 feet; thence S15°39'36"W,
98.06 feet; thence N68°32'18"W, 43.03 feet; thence
N00°00'51"E, 87.97 feet to the Point of Beginning.
42 West 40 feet
43 West 40 feet, South 25 feet and the Easterly 7.5 feet
44 South 25 feet and the Westerly 7.5 feet
5. Subordinates the lien of its Mortgage to the Recreation Trail Easements
granted by Mortgagor to the City of Ames, Iowa, to use to construct, maintain,
repair, replace and use a recreation trail over, under and across the following
recreation trail easement area:
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Lot No. Surface Drainage Easement Area
29 Westerly 7.5 feet
30 Easterly 7.5 feet
42 Southerly 7.5 feet
43 Northwesterly 7.5 feet
6. Subordinates the lien of its Mortgage to the Conservation Easements granted by
Mortgagor to the City of Ames, Iowa, to use to conserve and maintain vegetation over,
under and across the following conservation easement areas:
The portions of Lots 1 through 30, The Reserve, an Official Subdivision,
now included in and forming a part of the City of Ames, Story County,
Iowa, as more particularly described as follows and as shown on the
recorded final plat of The Reserve as the "Preservation Area" and whose
boundary is marked on said final plat as the "Preservation Boundary":
a) The Eastern thirty feet(30.0')of Lots 1 through 5, The Reserve, as
measured parallel to the eastern lot line of said Lots 1 through 5;
b) The portions of Lots 6, 7, 8, and 9, The Reserve, that lie
Northeasterly, Northerly or Northwesterly, as the case may be, of the
following described line:
Commencing at the Southeast corner of Lot 1, The Reserve; thence
Westerly 30.00 feet along the Southerly lot line of said Lot 1; thence N
000 06' 10" W, 458.86' to the point on the Northerly lot line of Lot 5, The
Reserve, and the Point of Beginning of said line; thence N 470 52' 57" W,
133.18 feet to a point on the Northwesterly lot line of Lot 6, The Reserve;
thence N 660 08' 26" W, 105.43 feet to a point on the Westerly lot line of
Lot 7, The Reserve; thence S 840 03' 14" W, 135.83 feet to a point on the
Westerly lot line of Lot 8, The Reserve; thence S 480 28' 09" W, 124.16
feet to a point on the Southwesterly lot line of Lot 9, The Reserve, and the
Point of Terminus of said line;
c) The portions of Lots 10, 11, 12, 13, 14 and 15, The Reserve, that
lie Westerly of the following described line:
Commencing at the Southwest corner of Lot 15, The Reserve; thence
20.15 feet Easterly along the Southerly line of said Lot 15 to the Point of
Beginning of said line; thence N 060 49' 50" E, 245.87 feet to a point on
the Northerly line of Lot 13, The Reserve; thence N 290 42' 07" W, 58.70
feet to a point on the Northerly lot line of Lot 12, The Reserve; thence N
750 25' 45" E, 54.28 feet along the northerly line of said Lot 12; thence N
460 59' 24" W, 94.47 feet to a point on the northerly line of Lot 11, The
Reserve; thence N 630 01' 12" W, 30.00 feet; thence N 320 45' 09" W, a
distance of 60.00 feet; thence N 160 41' 49" E, 60.00 feet to a point on the
Northerly lot line of Lot 10, The Reserve and the Point of Terminus of
said line (and which point is also the Point of Terminus of the line
described in (2) above);
d) The portions of Lots 16, 17, and 18, The Reserve, that lie Easterly
of, the portions of Lots 18, 19 and 20, The Reserve, that lie Northerly of,
and the portions of Lots 20, 21 and 22 that lie Westerly of, the following
described line:
Commencing at the Southeast corner of said Lot 16; thence S 890 55' 18"
W, 5.12 feet along the Southerly lot line of said Lot 16; thence S 00' 41'
46" E, 2.46 feet along the Southerly lot line of said Lot 16; thence S 89'
35' 12" W, 15.36 feet along the Southerly line of said Lot 16 to the Point
of Beginning of said line; thence N 060 49' 50" E, 240.09 feet; thence N
290 42' 07" W, 48.83 feet; thence N 410 08' 40" W, 56.63 feet; thence N
880 17' 13" W, a distance of 205.88 feet; thence S 320 29' 10" W, 119.55
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feet; thence S 090 05' 30" W, 234.14 feet to a point on the Southerly lot
line of Lot 22, The Reserve, and the Point of Terminus of said line.
e) The portions of Lots 23, 24, 25, 26 and 27, The Reserve, that lie
Easterly of, and the portion of said Lot 27 that lies Northerly of, the
following described line:
Commencing at the Southeast corner of said Lot 23; thence S 89° 35' 12"
W, 25.35 feet along the Southerly lot line of said Lot 23 to the Point of
Beginning of said line; thence N 080 02' 32" E, 250.78 feet to a point on
the Northerly lot line of said Lot 25; thence N 130 36' 18" E, 89.50 feet to
a point on the Northerly lot line of said Lot 26; thence N 80 33' 18'E,
84.81 feet; thence N 800 55' 35" W, 90.03 to a point on the Westerly lot
line of said Lot 27 and the Point of Terminus of said line;
f) The portion of Lot 28, The Reserve that lies Easterly and Southerly
of the following described line:
Commencing at the Southwesterly corner of said Lot 28 and the Point of
Beginning of said line; thence N 110 46' 41" E, 56.99 feet along the
Westerly lot line of said Lot 28; thence S 810 18' 43" E, 110.00 feet;
thence N 100 26' 19" E, 103.01 feet to a point on the Northerly lot line of
said Lot 28 and the Point of Terminus of said line;
g) The portion of Lot 29, The Reserve that lies Easterly and Northerly
of the following described line:
Commencing at the Southeasterly corner of said Lot 29; thence S 84" 19'
23" W, 70.00 feet along the Southerly lot line of said Lot 29 to the Point
of Beginning of said line; thence N 180 20' 2 1" W, 115.68 feet; thence N
760 12' 21" W, 92.50 feet to a point on the Westerly lot line of said Lot 29
and the Point of Terminus of said line; and
h) The following described portion of Lot 30, The Reserve:
Commencing at the Northeasterly corner of said Lot 30 as the Point of
Beginning; thence S 180 04' 16' W, 83.46 feet along the Easterly lot line
of said Lot 30; thence N 760 12' 21" W, 13.00 feet; thence N 160 43' 00"
E, 74.85 feet to a point on the Northerly lot line of said Lot 30; thence N
750 43' 44" E, 18.00 feet along the Northerly lot line of said Lot 30 to the
Northeasterly corner of said Lot 30 and the Point of Beginning.
[This Conservation Easement is also described as the area within the
Preservation Boundary shown on the recorded final plat of The Reserve
that is more particularly described as follows:
Beginning at the Southeast Corner of Lot 1 of The Reserve; thence S 89°
55' 18" W, 30.00 feet along the south line of said Lot 1; thence N 00° 06'
10" W, 458.86 feet; thence N 47° 52' 57" W, 133.18 feet; thence N 66° 08'
26" W, 105.43 feet; thence S 840 03' 14" W, 135.83 feet; thence S 480 28'
09" W, 124.16 feet; th.-.nce r 16° 4, 49" W 60.00 feet; thence S 320 45'
09" E, 60.00 feet; thence S 63° 01' 12" E, 30.00 feet; thence S 46° 59' 24"
E, 94.47 feet; thence S 750 25' 45" W, 54.28 feet; thence S 29° 42' 07" E,
58.70 feet; thence S 06° 49' 50" W, 245.87 feet to a point on the south line
of Lot 15; thence S 89° 55' 18" W, 25.27 feet; thence S 000 41' 46" E, 2.46
feet; thence S 89° 35' 12" W, 15.36 feet along the south line of Lot 16;
thence N 06° 49' 50" E, 240.09 feet; thence N 29° 42' 07" W, 48.83 feet;
thence N 41° 08' 40" W, 56.63 feet; thence N 88° 17' 13" W, 205.88 feet;
thence S 32° 29' 10" W, 119.55 feet; thence S 09° 05' 30" W, 234.14 feet
to a point on the south line of Lot 22; thence S 89° 35' 12" W, 45.63 feet
along the south line of Lots 22 and 23; thence N 08° 02' 32" E, 250.78
feet; thence N 13° 36' 18" E, 89.50 feet; thence N 080 33' 18" E, 84.81
feet; thence N 80° 55' 35" W, 90.03 feet to the west line of Lot 27; thence
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N 110 46' 41" E, 65.00 feet along the west line of Lots 27 and 28; thence S
81° 18' 43" E, 110.00 feet; thence N 10' 26' 19" E, 103.01 feet to the north
line of Lot 28; thence following said line S 89' 50' 07" E, 8.81 feet; thence
N 84° 19' 23" E, 48.77 feet; thence leaving said line N 18' 20' 21" W,
115.68 feet; thence N 76' 12' 21" W, 92.50 feet; thence N 16' 43' 00" E,
74.85 feet to the north line of The Reserve; thence following said line N
75° 43' 44" E, 118.95 feet; thence S 830 47' 29" E, 396.53 feet; thence S
65° 37' 00" E, 176.23 feet; thence S 46' 34' 2V E, 109.56 feet to the
Northeast Corner of The Reserve; thence S 00' 06' 11" E, 622.49 feet to
the Point of Beginning, containing 6.44 acres.]
7. Subordinates the lien of its Mortgage to the Public Utility Easements for
underground electrical, telephone, natural gas, cable television, and data transmission
utility services granted to the electric company or companies, the natural gas company or
companies, the telephone utility company or companies, the cable television company or
companies, and the data transmission company or companies serving the City of Ames,
Iowa, from time to time, over, under, through and across the public utility easements
shown on the Final Plat of The Reserve, an Official Subdivision Plat, now included in
and forming a part of the City of Ames, Story County, Iowa.
Dated this Ith day of July, 2002.
FIRST AMERICAN BANK, Mortgagee
By:
Dean Peyton,
Senior Vice President
STATE OF IOWA )
) SS.
COUNTY OF POLK)
On this--Mk da
M`day of July, 2002, before me, a Notary Public in and for the State of Iowa,
personally appeared Dean Peyton to me personally known, who being by me duly sworn did state
that he is the Senior Vice President of First American Bank; that the seal affixed hereto is the seal
of said corporation; that said instrument was signed and sealed on behalf of said corporation by
authority of its Board of Directors and the said Dean Peyton acknowledged the execution of said
instrument to be the voluntary act and deed of said corporation by it and by him voluntarily
executed.
*06
APRIL TUFANO Notary ublic in and r said State
commission Number 710207MyC ss�o Expires
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FAlegal\SHARE\The Reserve\Platting Documents\Mortgagee's Partial Release and Partial Subordination.doc
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Exhibit "A"
PARCEL "J" DESCRIPTION
An irregular shaped portion of the Northwest Quarter of the Northeast Quarter of Section 27,
Township 84 North, Range 24 West of the 51h P.M., Story County, Iowa more accurately
described as follows: Commencing at an iron rod I.D. # 8136 at the Northwest corner of the
Northwest Quarter (NW '/4) of the Northeast Quarter (NE '/4) of said Section 27; thence,
S00°00'15"E along the West line of the NW '/4 of the NE '/4 of said Section 27, a distance of
490.24 feet to the point of beginning; thence Easterly along a 385.00 Feet radius curve concave
Northerly , a distance of 234.94 feet, said curve having a chord bearing of S79°07'38"E and a
chord length of 231.31 Feet; thence, N83°23'27"E, a distance of 124.27 feet; thence Easterly
along a 535.00 feet radius curve concave Northerly, a distance of 71.60 feet, said curve having a
chord bearing of N79°33'25"E and a chord length of 71.55 feet; thence, 396.54 feet; thence,
North 78°43'22"E, a distance of 247.73 feet; thence, S83°48'16"E, a distance of S65°33'36"E, a
distance of 176.07 feet; thence S46°38'35"E, a distance of 109.64 feet to the southwest corner of
Lot 2 in the Plat of the NE. '/4 of the NE. '/4 of said Section 27 and to the East line of the NW. '/4
of the NE. 'A of said Section 27; thence, S00°06'48"E along the East line of the NW. '/4 of the
NE. 1/4 of said Section 27, a distance of 622.50 feet to the Southwest corner of the Plat of the NE.
'/4 of the NE. '/4 of said Section 27 and to the Southeast corner of the NW. '/4 of the NE. '/a of said
Section 27; thence, S89°36'27"W along the South line of the NW. '/4 of the NE. '/4 of said
Section 27, a distance of 1296.48 feet to the Southwest corner of the NW. 1/4 of the NE. '/4 of said
Section 27; thence, N00°00'15"W along the West line of the NW. '/4 of the NE. '/4 of said
Section 27, a distance of 777.57 feet to the point of beginning.
Said tract of land being subject to and together with any and all easement of record.
Said tract of land contains 22.643 acres more or less.
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Exhibit "B"
The Reserve
Legal Description
A replat of Parcel J in the Northwest Quarter of the Northeast Quarter, Parcel B of Lot 9 in Karl
Clark's Subdivision in the Southeast Quarter of the Northeast Quarter and Parcel P of the West
Quarter of the Southwest Quarter of the Northeast Quarter, all in Section 27, Township 8.4
North, Range 24 West of the 5th P.M., City of Ames, Story County, Iowa being more
particularly described as follows; Beginning at the Southwest Corner of said Parcel J said corner
also being the Southwest Corner of the Northwest Quarter of the Northeast Quarter of said
Section 27; thence N00°00'51"E, 778.52 feet to the Northwest Corner of said Parcel J and to a
point on a curve concave to the north having a radius of 385,00 feet, a central angle of 34°57'37"
and being subtended by a chord which bears S79°00'26"E, 231. 29 feet; thence southeasterly and
easterly, 234.92 feet along said curve; thence N83°22'01"E, 124.20 feet to the beginning of a
curve; thence easterly 71.63 feet along said curve having a radius of 535.00 feet, concave to the
north, and a central angle of 7°40'18" and being subtended by a chord which bears N79°32'49"E,
71.56 feet; thence N75°43'44"E, 247.63 feet; thence S63°47'29"E. 396,53 feet; thence S65°37'00"
E, 176.23 feet; thence S46°34'21"E, 109.56 feet the Northeast Corner of said Parcel J thence
S00°06'11"E, 622.49 feet to the Southeast Corner of said Parcel J, said corner also being the
Southeast Corner of the Northwest Quarter of the Northeast Quarter of said Section 27 and a
point and the north right of way line of Adams Street; thence S89°55'18"W, 421.00 feet a long
said line to the Northeast Corner of said Lot 9; thence S00°41'46"E, 62.46 feet a long the east
line of said Lot 9; thence S89°35'12"W, 463.33 feet to the beginning of a curve tangent to said
line; thence westerly, 78.66 feet along the curve concave to the north, having a radius of 230.00
feet and a central angle of 19036'39" and being subtended by a chord which bears N80°35'29"W,
78.47 feet; thence N70°46'09"W tangent to said curve, 5.08 feet to the beginning of a curve
tangent to said line; thence westerly, southwesterly and southerly, 39.27 feet along the curve
concave to the southeast, having a radius of 25.00 feet and a central angle of 90°00'00"; and
being subtended by a chord which bears S64°13'51"W, 35.36 feet; thence S 19°13'51"W tangent
to said curve, 5.93 feet; thence N70°46'09"W, 60.00 feet; thence N 19°13'51"E, 48.27 feet to a
point on the south line of said Parcel J; thence S89°35'12"W. 256.08 feet to the point of
beginning. Containing 23.48 acres.
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