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Home My WebLink About2000-067 Agrmt - Wash Mutual II ~ THE CITY OF ASHL~D ..d ........ .................................................................................... hera/halter called the second party; W I T N E S S E T H : Onerebut Octobe~ 26 1998 LAU~ RUF~ ................................. bein~ the owner of the followin~ described property ~n .....~.~9.~ .............. County, Oregon, to-w~t: Lot Two (2) in EAGLE CREEK SUBDIVISION in the City of Ashland, according to the official plat thereof now of record (Code 5-i, Account #1-91224-5, Map #391E14CA, Tax Lot 3900 aka: 2525 Eagle Creek Lane Ashland, OR 97520 (IF SPACE INSUFFICIENT, CONTINUE DESCRIPTION ON REVERSE 51DE) executed and delivered to the first party a certain ................. .D..I~..E..D___.Q..F...~.~.U...$..T. ........................................................................... (Stat~ whether mortgage, trust deed, contract, security agreement or otherwise) (herein called the first party's lien) on the property to secure the sum of $...6,.,.9.~.,8.;.~..4 ............ which lien was: ~ c, --Recorded on .......... ~.-°-Y.~e..m-.b..-e-T.--.1..3.. ..........., 197.~...., in the ....................Records of ......~__a_q.k,..s.q.n_ .............County, · J; pageand o, as ,../,,./,ns,.,men,/m,c,o- c~ . indicate whic o~ 82 --Filed on ................................................,19 ........, in the office of the ..........................................................................of ~ ~ ......................................................County, Oregon, where it bears fee/file/instrument/microfilm/reception No. c ._ . .............................(indicate which); ¢~ ~ --Created by a security agreement, notice of which was given by the filing on ............................................ ,19 ........, o S Secretary of State ~ .~ of a financing statement in the office of the Oregon Dept. of Motor Vehicles where it hears file No ................... o ~= ~ and in the office of the ...........................................................................of ..........................................County, Oregon, ~- ~ o where it bears fee/file/instrument/microtilm/reception No ......................... (indicate which). Reference to the document so recorded or filed hereby is made. The first party has never sold or assigned first party's Hen and at all times since the date thereof has been and now is the owner and holder thereof and the debt thereby secured. The second party is about to loan the sum of $....~..2_-0-!9..0.-0..L9.-0- .......... to the present owner of the property, with interest thereon at a rate not exceeding .......8..:..2..5. ....... % per annum. This loan is to be secured by the present owner's TRUST DEED ...................................................................(heroinafter called ~ from its date. the second party's Hen) upon the property and is to be repaid not more than -- OVER -- SUBORDINATION AGREEMENT CITY OF ASHLAND WASHINGTON MUTUAL BANK JACKSON COUNTY TITLE ..... i'55'5"EV"M~5~'~"'R~'~d ................................ .... Ma~8~a';"'DK""975D~ .......................................... ....... _3.0_ ........................yeats sZ2, % }as. I certify that the within instrument was received for record on the .......... day of ................................................, 19 ........, at ................. o'clock .......M. nd recorded in book/reel/volume No ............... page ........................ and/or s file/instru- ment/microfi ' n No .................. f;: %fu .......................................... Witness my hand and sea/of County affixed. NAME TiTLI~ By ..................................................., Deputy To induce the second party to make the loan last mentioned, the first party heretofore has agreed and consented to subordinate first party's Hen to the lien about to be taken by the second party as above set forth. NOW, THEREFORE, Ior value received, and for the purpose of inducing the second party to make the loan aforesaid, the first party, first party's personal representatives (or successors) and assigns, hereby covenants, con- sents and agrees to and with the second party, second party's personal representatives (or successors) and assigns, that the first party's Hen on the property is and shall always be subject and subordinate to the lien about to be delivered to the second party, as aforesaid, and that second party's lien in all respects shah be first, prior and superior to that of the first party, provided always, however, that if second party's Hen is not duly filed or recorded or an appropriate financing statement thereon duly filed within ...................... days after the date hereot, this subordination a~reement shah be nulI and void and of no force or effect. It is expressly understood and agreed that nothing hereln contained shah be construed to change, alter or impair the first party's Hen, except as hereinabove expressly set forth. In construing this subordination agreement, and where the context so requires, the singular includes the plural, and all grammatical changes shall be made so that this agreement shah apply equally to corporations and to individuals. IN WITNESS WHEREOF, the undersigned has executed this agreement; if the undersigned is a corporation, it has caused its name to be signed and its seal, if any, affixed by an officer or other person duly authorized to do so by order of its board of directors. CITY OF ASHLAND Thls lns ument was acknowledged before me on ............................~..~ ...............~.. ........ by .................~. .T ~.. . ~. .4 . .~ ~ ......................................................................................~. ..................... This instrument was acknowledged before me on ....................................................... ,19 ........ , by .................................................................................................................................................................... as ..................................................................................................................................................................... o, ...........................................................:::::::::::::::::::::::::: Jackson Ccsunty, Oregon Recorded OFFICIAL RECOP~DS APR 17