Laserfiche WebLink
01/18/12 10:39kIi Lk13AR1dkTLBkiJK 9037846222 <br />p.02 <br />THE STATE OF TEXAS § <br />SUBORDiNATJON AGRFEMBNT <br />COUNTY OF LAMAR § <br />PROPt3SED FIRST LIEN: <br />DESCRIPTION OF FIRST LIEN NOTE AND DEED OF TRUST: <br />DATE : THE DAY OF 12012 <br />AMOUNT : $81,750.00 <br />MAKER : KENNETH WHlTE <br />PAYEE : LAMAR NATIONAL BANK <br />TRUSTEE : DICK SEVERSON <br />DEED OF TRUST RECORDfNG INFORMATION: <br />70 BE RECORDED IN THE OFFiCIAL PUBLIC <br />TEXAS. <br />SECOND LIEN: <br />RECORDS OF LAMAR COUNTY, <br />DATE : APRIL 4, 2008 <br />AMOUNT : $60,000.00 <br />MAKER : KENNETH WHITE <br />PAYEE : THE CITY OF PARIS, TEXAS <br />TRUSTEE : JESSE JAMES FREELEN <br />DEED OF TRUST RECORDING INFORMATION: <br />OFFIC{AL PUBLIC RECORDS OF LAMAR COUNTY, <br />NUMBER 058307-2008. <br />TEXAS, UNDER INSTRUMENT <br />WHFREAS, Lamar National Bank is the present holder and owner ofa first lien note dated April <br />4, 2008, in the original sum of $60,000.00, secured by a vendor's and deed of trust lien fuliy <br />described in deed of trust to Michael Rhodes, Trustee, of record Under Instrument Number 058306- <br />2008, Officaal Pubiic Records of I,amar Caunty, "Texas; and <br />WHEREAS, The City of Paris, Texas is the halder of the second lien note and deed of trust <br />above described; and <br />WHEREAS, Kenneth White, has requested Lamar National Bank to advance an additional sum <br />of $30,000.00 upon his loan and Lainar National Bank is willing to do so only if The City of Paris, <br />Texas will subordinate their debi and lien ta the entire amount that will be owing to Lamar Naiional <br />Bank after the additional $30,000.00 advance; and <br />WHEREAS, the Amount shown above on the Proposed Fitst Lien is the amount of the new note <br />to Lamar Nationai Bank, which includes the approximate balance owing upon the original first lien <br />note aild the additional $30,400.00 advance. <br />ExHIBIT'`A" <br />