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� 2� 1 ���37�
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<br /> WHER�AS, Bank af America, IV.A. �",��nfar Lien Noid�er"} has �een r�quest�d to make a Ivan;
<br /> �ine of c�edit or other financia� accvmm�datian to �wner, to be secured �y either a deed �f#rus�, deed
<br /> to secure d�bt or mortgag� �c�llectively, fhe "Juniar Lien"}, covering without lim�ta��fln, th� Property and
<br /> securing th�e indebtedness d�scribed therein incfudin� th� paym�nt af a promissory note or line of credit :
<br /> �together, the "Note"} made by �wner andlor others payabl� to the order vf Junior Lien Hoider, in the
<br /> maximum pr�ncipal face amount nvt to exce�d $59�Q�,�� �"Principal Amount"}, inclu�ing prov�sions for
<br /> accel�ra�ion an� payment of co�lect�on costs�collecti��ly, the"Loan"}; and
<br /> VIIHEREAS,Jun��r Lien Ha�der re�u�r�s, as a condit�an t�making the L�an, �hat th� Juni�� Lien
<br /> �e superior to the Senior Lien;
<br /> VIIHEREAS, it 'rs t� �he mutua! benefit af the Su�ordinator, �wner an� Juni�r Lien Holder that
<br /> Juni�r Lien Holder make the Loan to �wner; and Sub�r�inator is w�i��ng #o permi�th�Junior Lien, when
<br /> reco�ded, to cons#��ute a li�n upan the Property �hat is uncondi�ionaily pr��r and superior to �he Senior
<br /> Lien.
<br /> ND1N THEREFC]RE, for vaivable consideration and to induce Junior Lien Molder to make the
<br /> Laan �a �wner, Subordinator hereby sub�rdinates the Seniar Lien to the Junior Li�n and any renewals
<br /> �r extensians ther�of, and deciares, agr�es and ackno�vledges that:
<br /> ��� The Junior Li�n and any r�newals or extensions there�f, shall uncondi�ionally he and r�main at all
<br /> times a lien �r char�e on �he prop�rty, prior and sup�rior to the Superiar Lien.
<br /> ��} That Junior L��n Holder wvuld n�t make the Loan without this subordinatian agreement.
<br /> �3} This Agre�ment is f'rmited t� th� PrinGipal Amaunt, plus in�erest and any �dd��ional ar�ounts
<br /> advanc�d �ursuant �o �he pr�vision �f the Not� or Junior Lien far �ayment af insurance pr�m�ums,
<br /> taxes, cos� of c�ll�ction vr protecti�n of �he va�ue �f the Praperty or Juniar Lien H�fder's rights in the
<br /> Property. This Agr�em�nt sha�l inure t� the ben�fit of Junior Lien H�Ider and be binding up�n
<br /> Subordina�or, its successors and assi�ns an� shall �e binding upon any pur�haser �at f�reclosure or
<br /> �th�rw�se} �f the P�op�rky, ar any part thereof, an� their respe�tive heirs, personal r�presentat�ves,
<br /> success�rs and assigns.
<br /> �4} This agreemen� shali be the whale and anly agreem�nt with regard #a th� subordinatian of the
<br /> Senior Lien �o the Junior Lien and sha�� sup�rs�de and canc�l, but only ins�far as would affect fihe
<br /> priority betw��n the �ecurity instruments described herein, any prior agreements as ta such
<br /> su��rdination inclu�ing, but not �fmited to, those provisions, if any, contained in #he Senior Lien, which
<br /> provide f�r th� subordina�ion ot �he Sen�o� Lien to another s�curity instrument, deed of trus# ar
<br /> mortgage.
<br /> �5} It c�nsents tv and approves �i} all pr��isions of the No�e and Junior Lien s��uring the Ioan, and �ii}
<br /> all agreements, including but n�t limi#ed to any Ioan �r e$craw agreem�nts �collect�vely, the "Loan
<br /> � Agreements"}, betw�en �wner and Junior Li�n Holder for the disburs�ment of the proceeds of the New
<br /> Loan; ;
<br /> ��} Juniar Lien H�Ider making disbursements pursuan#to any such agreement is under na obliga#ion
<br /> or duty t�, n�r has Junior Lien Holder represented that it wi11, see ta the application of such praceeds by
<br /> the person�s} to wham Junivr Lien Hold�r d�sburses such proc�eds and any appfication �r use of such
<br /> pr�ce�ds vth�r than those pr�v�de� for in such Loan Agreement�s} shall nat defeat #he sub�rdinati�n
<br /> h�rein mad��n whoie or in pa�t.
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