HomeMy WebLinkAboutGrand Investments, LLC-11/16/2015111111111111111111111111111111111111111111111111 111111111111111111 1111
Do ID. 006937490003 Typ GEN
Rec rded 12/31/2015 at 02:06 02 PM
Fe Amt: $17.00 Page 1 of 3
Black Hawk County Iowa
SANDIE L. SMITH RECORDER
FI1e2016-00011 / 0G
Prepared By: Eric W. Johnson, P.O. Box 178, Waterloo, IA 50704-0178 (319)234-1766
After Recording Return To: Eric W. Johnson, P.O. Box 178, Waterloo, IA 50704-0178
SUBORDINATION AGREEMENT
WHEREAS, Grand Investments, LLC, executed a mortgage to the City of Waterloo,
Iowa, on the real estate legally described as:
See attached Exhibit "A",
which was filed June 3, 2015, as Document No. 2015-19747, and modified by a modification
filed September 30, 2015, as Document No. 2016-06235, in the office of the Black Hawk County
Recorder, and
WHEREAS, Grand Investments, LLC, executed a mortgage to U.S. Bank National
Association, securing credit in the amount of $ (a, 5`'90, 000 • oc , on the real estate legally
described as:
See attached Exhibit "A",
which was filed _41-01/743i< i _: 2015, as Document No. 2016- 000/12 in in the Office of
the Black Hawk County Recorder, and
WHEREAS, it is the intention of the parties hereto that the above mortgage to U.S. Bank
National Association, be a lien prior to the lien of the City of Waterloo, Iowa, against the real
estate legally described as:
See attached Exhibit "A"
NOW THEREFORE, in consideration of the sum of One Dollar ($1.00) and other good
and valuable consideration, the City of Waterloo, Iowa, does hereby subordinate the lien of their
171)0 K( (lam )
Please return this copy to:
City Clerk & Finance Dept.
715 Mulberry St.
Waterloo, IA 50703
Prepared By: Eric W. Johnson, P.O. Box 178, Waterloo, IA 50704-0178 (319)234-1766
After Recording Return To: Eric W. Johnson, P.O. Box 178, Waterloo, 1A 50704-0178
SUBORDINATION AGREEMENT
WHEREAS, Grand Investments, LLC, executed a mortgage to the City of Waterloo,
Iowa, on the real estate legally described as:
See attached Exhibit "A",
which was filed June 3, 2015, as Document No. 2015-19747, and modified by a modification
filed September 30, 2015, as Document No. 2016-06235, in the office of the Black Hawk County
Recorder, and
WHEREAS, Grand Investments, LLC, executed a mortgage to U.S. Bank National
Association, securing credit in the amount of $ jj, 1ju i U (u• w, on the real estate legally
described as:
See attached Exhibit "A",
which was filed _4f ( yy,. C -a. 2015, as Document No. 2016- U oo// r e) in the Office of
the Black Hawk County Recorder, and
WHEREAS, it is the intention of the parties hereto that the above mortgage to U.S. Bank
National Association, be a lien prior to the lien of the City of Waterloo, Iowa, against the real
estate legally described as:
See attached Exhibit "A"
NOW THEREFORE, in consideration of the sum of One Dollar ($1.00) and other good
and valuable consideration, the City of Waterloo, Iowa, does hereby subordinate the lien of their
said mortgage to the lien of U.S. Bank National Association, and that the lien of the said
mortgage of U.S. Bank National Association, shall be prior, paramount, and superior to any right
title of claitn to the said premises of the City of Waterloo, Iowa.
Dated this l l- day of o J -e -Fns r , 2015.
City of Waterloo, Iowa
y: Ernest G. Clark
Its: Manager
STATE OF IOWA
COUNTY OF BLACK HAWK )ss.
This record was acknowledged before me on this} " day of C4'V , 2015, by
Ernest G. Clark, as Mayor of the City of Waterloo, Iowa,
Notary Public i k d for sa State
,0"^°NANCY HIGBY
=
" COMMISSION NO.786229
*a MY C M ISSION PICPIRES
EXHIBIT "A"
Parcel A in Part of Lot No, 30 in "Auditor's Falls Avenue and Mullan Avenue Plat" in the City
of Waterloo, Black Hawk County, Iowa, described as follows:
Commencing at the most Southerly corner of Lot 30; thence N 48°50'00" W. along the
Southwesterly line of said Lot 30, a distance of 323.07 feet to the Point of Beginning; thence
continuing along said Southwesterly line, N 48°50'00" W. a distance of 243.81 feet; thence N 62°
55'58" E, a distance of 222.89 feet; thence N 83°45'11" E, a distance of 78.78 feet; thence S
57°07'37" E, a distance of 103,99 feet; thence S 48°50'00" E, a distance of 17.47 feet; thence S
43°43'43" W, a distance of 280.28 feet to the Point of Beginning, containing 1.2010 acres.
a/k/a That part of Lot 30 in "Auditor's Falls Avenue and Mullan Avenue Plat", Black Hawk
County, Iowa as indicated and described on Plat of Survey Doc. #2014-11362,
And also, Parcel "B" in part of Lot No. 30 in Auditor's Falls Avenue and Mullan Avenue Plat" in
the City of Waterloo, Black Hawk County, Iowa, as appears in the plat of survey recorded in
Book 327, Page 412 in the Office of the Recorder, Black Hawk County, Iowa, except the
southeasterly 137.00 feet of said Parcel "B", adjacent to West Mullan Avenue.