Laserfiche WebLink
AFTER RECORDING, RETURN TO <br />Kittitas County <br />Department of Public Works <br />4l I N. Ruby, Suite #l <br />Ellensburg, WA 98926 <br />OUR FILE NO. <br />02/ tl/20t5 Ot : 44: 39 ptrl <br />ililliliiilrirriiliiiilimfirfrif fi iiurnur <br />Page:1 of 2075a2ttoot2 <br />lillllt lll llilI ilIil illll illl lill <br />9L- <br />^JXr.iA <br />- aSqtn <br />GRANTOR(S) <br />GRANTEE(S) (Secured PartY): <br />TAX PARCEL #: <br />LEGAL (ABBREVIATED): <br />(1) Carrera Hangars Bower Fields LP <br />(2) Kittitas County <br />U.S. Bank National Association <br />9s7l2r & 958157 <br />PTN SW 24-18-18E, W.M., KITTITAS CO., WA <br />SUBORDINATION OF REVERSIONARY INTEREST <br />THE PARTIES HERETO are KITTITAS COLINTY, a municipal corporation of the State of <br />Washington, called "Landlord",CARRERA HANGARS BOWERS FIELD LP, a Washington limited <br />partnershiP,referred to as "Tenant",and U.S. BANKNATIONAL TION, hereinafter referred <br />to as "Lender"The effective date of this Agreement is 20_6. <br />WHEREAS, Landlord and Tenant are parties to a certain Lease dated June l, 2010 and <br />terminating on June l,205},the legal description of which is attached as Exhibit "A", hereinafter referred <br />to as the " Lease" or "Ground Lease"; and <br />WHEREAS, the parties at the time of entering into said Lease contemplated that Tenant would <br />need financing to build a structure on said property and that any financial institution would require a <br />subordination of irc reversionary interest; <br />WHEREAS, Lender has agreed to make a loan to an affiliate of Tenant, Carrera Aviation <br />Holdings, LP, a Washington limited partnership, to build such structure on said property; now, therefore, <br />FOR AND IN CONSIDERATION of the mutual covenants hereinafter contained, the parties <br />agree to amend the above-described Lease as follows: <br />L Subordination and Matters Concemins Foreclosure. The reversionary interest of <br />Landlord, which foi purp*ir hereof shall mean the possession, use and enjoyment of the leased premises, <br />is hereby subordinatid to the lien of any subsequent mortgage, deed of trust or security instrument <br />SUBORDINATIONOF REVERSIONARYINTEREST(ELLENSBURG) PAGE I <br />12 I 87 - 5 487 |LEG AL I 240 47 I 2 I .2