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WHEREAS, it is a cond�t�on precedent tv olata�n�ng sa�d loan that said Mvr�gage East above mentior 2� 1 7��3 3 9 uncand�tiona�fy b� and rema�n at a!I times a lien or charge upan th� land her�inb�fore describedr priar and super�or t�the l�en or charg�of the M�rtgage f�rst above mentioned; and � � ' � • �11HERE�S, Lender is willing to make said ��an pr�vided the Mortgage s�cur�ng th� sam� is a l�en ar charge upon the aba�e des�ri�ed pro�erty priar and supertar to the li�n or charge of the Mortgage�rst aboWe m�nt�oned and provided that BeneficEary w��l s�eeif�cally and unconditionally su��rd�nate the lien vr charge up�n s�id �and which is unconditionally pr�or and sup�rior to th� lien�r charge of the Mortgage abv�e m�nt�on�d. NDVII. THEREF�RE� in �onsiderat�on of the mutual bene�ts accru�ng to th� par�aes hereto and other �a�uable c�ns�dera�on, the receipt and sufficiency of which considerat�an is hereby acknowledged, and in flrder to induc� Lender to make the [oan ab��e r�ferr�d to, it is hereby d�iare�dr understoad and agr�d as fo�lo�vs; 1} That said Mortgage securing said note in fa�or of Lender� and renewals or extensions ther�of� shal� u ncondit�onal ly be and rema i n at a I I ti m�s a �Een pri or cha rge on the property therei n descr�b�d, prior and sup�rior�to the lien or charge of the Mortgage first above mentioned. �] That�ender would not mak�its fioan aba�e descrik�ed without th�s subordination agr�m�nt. 3} That th�s agre�ment shall be the v�hole and aniy agreement w�th r�gard to the su�ordinat��n of the Eien or charge af the Mortgage first above mentianed to the lien or�harge of the Mortgage in favor of lender above referr�d to and shall supers�de and cancef� but on�y �nsofar as wouid affect the priority betw�n the M�r�gage ��reinb�fore specifca�ly d�scr�hed any prior agreement as t� such suh�rdinat�on �ncluding� but not limited to, these pro�isions, �f any, contained in the Mortgage first above mentioned, wh�ch prov�de for the subordinat�on of the �ien or charge thereof to anather de�d or deed of trust or to anoth�r mor�gag�or mortgages. Benefic�ary dec�ares,agr�es and acknowE�dges that 1. He cvnsents to and approves (i.) a11 pro�isians af the not� and Mortgage in fa�or of Lender abflve referred to, and [i�.� alI agreements� including but not limited to any loan ❑r escrow agr�ements, �t�nre�n Owner and L�nder fvr the disbursement of the proceeds of L�nder's Eoan; �. �ender in mal�ng dis�ursements pursuant ta any such agreement is under n� obligation or duty to, nor has Lender represented that it will s� �o th� application of such prv��eds hy the p�rson ar persons to whom Lender d�sburs�s such proc�ds and any app��eatfon or use of such proce�ds for purposes other than those provided for �n such a�r�ement ar agreements sha�� not d�feat the sub�rd�nation herei n made or in pa rt; 3. He intentiona��y and uncondit�onally wa��es, reiinquish�s and subordinates the �ien vr charge of the Martgage frst ab��e mentivned �n favor nf the iien or charge upon said �and of the Mor�gage in fa�or af Lender aao�e referr�d to and understands that�n r�liance upon, and in �onsiderativn vf,th�s wai�er and r�linquishment�nd suhordina�on spee�fic loans and advances are being and will b�made and, as par�and par�ei ther�af, s�ific monetary and other o��igations ar��ng and will be entered into which would not � mad� ar entered into but for said reliance upon this wai�er, r�linqu�shment and subordinat�on; and 4. An endorsement has ��en placed upon the note s�cured by N�ortgage first above mentioned that said Mortgage has by this instrument heen subordinated to the [ien ar charg� of the Mortgage in favar of Lender a bove referred to. N�TICE; THIS SUB�RDINATI�fV AGREEMENT C[]NTAINS A PR�IIISI�IV 'V�'NICH ALL�1�V5 THE PERSDN �BLIGATED �N Y�UR REAL PR�PERTY SE�URITY T� �BTAIN A L�AN A P�RTI�N 4F WHICH MAY BE EXPENDED F�R aTHER PURPOSES THAN IMPR�VEMENT�F THE LAND� Print Name: Pri Name: �' Title: Titi • ' z