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200400792 <br />(3) That this agreement shall be the whole and only agreement with regard to the subordination of <br />the Existing and Continuing Security Instrument to the New Security Instrument and shall supersede and <br />cancel, but only insofar as would affect the priority between the security instruments hereinbefore <br />specifically described, any prior agreements as to such subordination including, but not limited to, those <br />provisions, if any, contained in the Existing and Continuing Security Instrument above mentioned, which <br />provide for the subordination of the lien to another security instrument, deed of trust or mortgage. <br />Subordinating Lender declares, agrees and acknowledges that <br />(a) It consents to and approves (i) all provision of the note and New Security Instrument in favor of <br />Lender above referred to, and (ii) all agreements, including but not limited to any loan or escrow <br />agreements, between Borrower and Lender for the disbursement of the proceeds of the New Loan; <br />(b) Lender making disbursements pursuant to any such agreement is under no obligation or duty to, nor <br />has Lender represented that it will, see to the application of such proceeds by the person or persons to <br />whom Lender disburses such proceeds and any application or use of such proceeds for purposes other than <br />those provided for in such agreement or agreements shall not defeat the subordination herein made in <br />whole or in part; and <br />(c) It intentionally and unconditionally waives, relinquishes and subordinates the lien of the Existing and <br />Continuing Security Instrument in favor of the lien or charge upon said land of the New Security <br />Instrument and understands that in reliance upon, and in consideration of, this waiver, relinquish and <br />subordinate specific loans and advances are being and will be made and, as part and parcel thereof, <br />specific monetary and other obligations are being and will be entered into which would not be made or <br />entered into but for said reliance upon this waiver, relinquishment and subordination. <br />NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOW THE <br />PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF <br />WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND. <br />First"l cial, In . <br />Terri Stallings, Vice President <br />