Laserfiche WebLink
2� 17��34� <br /> 1fi�HEREAS, Lend�r Es willing to make s�id laan pra�ided the Mortgage s�curing th� sam� is a lien �r charge up�on <br /> the a�o�e described property pr�or and superior to the lien ar charge of the Mortgage�rst abo�e ment�oned and <br /> pro�ided that Beneficiary w�ll sp��fical�y and uncondit�ona�iy su�ordinate the lien or charge upon sa�d Eand �vhich <br /> ' � ' � �s un�ond�t�onally priar and su�rior to the li�n or charg�of the Martgage atlo�e mentraned. <br /> N�W, THEREFaREr in cons�derat�on of the mutua� b�nefits accru�ng to the parties hereta and other �aluable <br /> cons�deration, the r�c�ipt and sufficiency of wh�ch c�nsideration is her�hy acknow�edged, and �n order to induce <br /> Lender ta mak�the I�an a�ov�ref�rred to, it is hereby decIar�d� understood and agreed as folEaws: <br /> 1� That said Mortgage s�cur�ng sa�d note �n fa�or of Lender. and ren�wals or extensions th�r�of� sha[f <br /> unconditi�nally be and remain at a�E t�mes a Iien prior charge on the prop�er�y therein describ�dr prior <br /> and sup�erior to the lien or charge�f the Mortgage fir�t abvv� mentivned. <br /> 2} That tender woufd nvt make its loan ab�ve d�scrib�d without th�s suf�ordination agre�ment. <br /> 3} That this agre�ment shail be the wh�le and �nly agreem�nt w�th regard to the subordination vf the <br /> lien or�harge of the Mortgage�rst a�ove mentioned t�the lien or charge of the Martgage �n fa�or of <br /> lender abo�e referred to and shall supers�de and �ancel� but anEy insofar as would affect th� priorit� <br /> �etween the Mortgage h�re�nbefore sp�ecifcally d�scribed any prior agreement as to such <br /> sut�rdEnation includ�ng, but not limit�d tor these pro�isivns, if any� conta�ned in the Mortgage �rst <br /> a���e m�ntivned� which pro�ide for the su�rdinatian of the lien ar charg� thereof to anoth�r deed <br /> or deed of trust or tv anvther mortgage or mortgages. <br /> Bene�iciary dec�ares, agre�s and acknvwledges that <br /> 1, He consents ta and appro�es �i.} aIl pro�is�ons of the note and Mvrt�age in fa�ar of Lender abflve <br /> referred to� and ��i.} all agre�ments, including but not ��m�t�d to any ioan or es�row agreem�nts, <br /> betwe�n �wner and Lender for the d�sbursement af the pr�eeds of Lender's�van; <br /> �. Lender En mak�ng disbursem�nts pursuant to any such agreement is under no obiigat�vn vr duty ta, <br /> nor has Lender repres�nt�d that it will see to the appEica�on of such proce�ds by the �rson or <br /> p�rsons to whom Lend�r disburs�s such procee�s and any appli�a�on ar use of su�h praceeds for <br /> purpases other tnan those provid�d for �n such agreement or agreements sha�� not defeat th� <br /> su�rd�nation herein made or in part; <br /> 3. He intenti�naiiy and uncondit�onally wai�es, relinquishes �nd sub�rdinates the lien or charge of <br /> th� Mortgage frst a�W� ment�oned in fa�or af th� li�n or charge upan said land of the Mor�gage in <br /> fa�or of Lender aba�e referred to and understands that in reliance upon, and �n cansiderat�vn of� this <br /> v�rai��r and relinquishment and subvrdination sp�cifi�Ioans and advances are being and w�I� be made <br /> and,as part and parcel therevf, sp�cific monetary and other obligat�ons ar� being and wi[f b�ent�red <br /> into which wou�d nvt be made ar enter�d into �ut for said reliance upon this wai��rr relinquishment <br /> and su�rdination; and <br /> 4. An endarsement has f�n plac�cl u�on the note s�cur�d by Martgage first a�o�e m�ntivned that <br /> said Mortgage has by this instrum�nt been su�ord�nat�d to the �ien nr charge of the Mortgage in <br /> fa�or of Lender abo�e referred to. <br /> N�TICE: THIS SUB�RDINATI�N AGREEMENT ��NTAINS A PR�VISI�N V4�HICH ALLaWS THE <br /> PERS�N �BLIGATED �N YOUR REAL PR�PERTY SE�URTTY T� �BTAIN A L�A1V A P�RTI�N �F <br /> WHI�H MAY BE EXPENDED F�R�THER PURP�SES THAN IMPR�VEMENT�F THE LAND� <br /> Print Nam�: P int Nam : <br /> Title: � : �- ' � . c <br /> z <br />