2004-07-29 Subordination Agreement
SUBORDINATION AGREEMENT
Date:
,2004
FOR VALUABLE CONSIDERATION, the undersigned hereby subordinates the liens on
real property in Wright County, Minnesota, described as follows:
Lots 1-3, Block 1
Lots 1-3, Block 2
Lots 1-3, Block 3
Lots 1-24, Block 4
Lots 1-15, Block 5
Lots 1-5, Block 6
Lots 1-7, Block 7
Outlot A
Outlot B
Outlot C
Outlot D
Outlot E
Park
All said property in Towne Lakes 5th Addition according to the plat of record in the
office of the Wright County Recorder, County of Wright, Minnesota;
such liens are evidenced by the following mortgages executed by Contractor Property
Developers Company, a corporation under the laws of the State of Minnesota, as mortgagor,
to Alliance Bank, as mortgagee:
A mortgage dated October 3, 2003, and filed for record November 12, 2003 as
document number 884346 in the office of the county recorder of Wright County,
Minnesota;
to that certain document titled City Of Albertville Planned Unit Development
Agreement Towne Lakes 5th Addition, subsequently filed for record as Document
Number in the Office ofthe County Recorder of the above County.
~ANCE~
d...~
: Jane L. Turbes
Its: Vice President
STATE OF MINNESOTA
COUNTY OF ROfYlSt<-L
(j
)
) ss.
)
1
The foregoing instrument was acknowledged before me this ,;tl-!h. day of July, 2004,
by Jane L. Turbes, the Vice President of Alliance Bank, a banking corporation organized
under the laws of the state of Minnesota.
Q-lli&~;/~L4
Notary Public
I '
PATRICIA ANN SHEfR.ER
Notary Publi~lnnesota
My Commission ExpIras Jan31. 2008
THIS INSTRUMENT WAS DRAFTED BY:
Couri, MacArthur & Ruppe, P .L.L.P.
705 Central Avenue East
P.O. Box 369
St. Michael, MN 55376-0369
(763) 497-1930
2
SUBORDINATION AGREEMENT
Date:
,2004
FOR VALUABLE CONSIDERA nON, the undersigned hereby subordinates the liens on
real property in Wright County, Minnesota, described as follows:
Lots 1-3, Block 1
Lots 1-3, Block 2
Lots 1-3, Block 3
Lots 1-24, Block 4
Lots 1-15, Block 5
Lots 1-5, Block 6
Lots 1-7, Block 7
Outlot A
Outlot B
Outlot C
Outlot D
Outlot E
Park
All said property in Towne Lakes 5th Addition according to the plat of record in the
office ofthe Wright County Recorder, County of Wright, Minnesota;
such liens are evidenced by the following mortgages executed by Contractor Property
Developers Company, a corporation under the laws of the State of Minnesota, as mortgagor,
to Scherer Bros. Lumber Co., as mortgagee:
A mortgage dated May 7, 2002, and filed for record May 17,2002 as document
number 791328 in the office ofthe county recorder of Wright County, Minnesota;
to that certain document titled City Of Albertville Planned Unit Development
Agreement Towne Lakes 5th Addition, subsequently filed for record as Document
Number in the Office of the County Recorder of the above County.
. f~B'!CO.
/J~~
By: Peter L. Scherer
Its: President
STATE OF MINNESOTA )
) ss.
COUNTY OF HENNEPIN )
COLLEEN RAE SKEIE NORENBERG
NOTARY PUBLIC
MINNESOTA
My Commission Expires Jan. 31,2007
1
The foregoing instrument was acknowledged before me this;(1 day of July, 2004,
by Peter L. Scherer, the President of Scherer Bros. Lumber Co., a corporation organized
under the laws of the state of Minnesota.
J/k,
Notary Public
THIS INSTRUMENT WAS DRAFTED BY:
Couri, MacArthur & Ruppe, P .L.L.P.
705 Central Avenue East
P.O. Box 369
St. Michael, MN 55376-0369
(763) 497-1930
2