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2004057Q$ <br />WHEREAS, it is a condition precedent to obtaining said loan that said Security Instrument <br />shall unconditionally be and remain at all times a lien or charge upon the land hereinbefore <br />described, prior and superior to the lien or charge of the deed of trust first above <br />mentioned; and <br />WHEREAS, Lender is willing to make said loan provided the Security Instrument securing <br />the same is a lien or charge upon the above described property prior and superior to the <br />lien or charge of the deed of trust first above mentioned and provided that Beneficiary will <br />specifically and unconditionally subordinate the lien or charge of the deed of trust first <br />above mentioned to the lien or charge of the Security Instrument in favor of Lender; and <br />WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to <br />Owner; and Beneficiary is willing that the Security Instrument securing the same shall, <br />when recorded, constitute a lien or charge upon said land which is unconditionally prior <br />and superior to the lien or charge of the deed of trust first above mentioned. <br />NOW THEREFORE, in consideration of the mutual benefits accruing to the parties hereto <br />and other valuable consideration, the receipt and sufficiency of which consideration is <br />hereby acknowledged, and in order to induce Lender to make the loan above referred to, it <br />is hereby declared, understood and agreed as follows: <br />(1) That said Security Instrument securing said Note in favor of Lender, and any <br />renewals or extensions thereof, shall unconditionally be and remain at all times a <br />lien or charge on the property therein described, prior and superior to the lien or <br />charge of the deed of trust first above mentioned. <br />(2) That Lender would not make its loan above described without this subordination <br />agreement. <br />(3) That this Agreement shall be the whole and only agreement between the parties <br />hereto with regard to the subordination of the lien or charge of the deed of trust <br />first above mentioned to the lien or charge of the Security Instrument in favor of <br />the Lender above referred to and shall supercede and cancel, but only insofar as <br />would affect the priority between the deeds of trust hereinbefore specifically <br />described, any prior agreement as to such subordination including, but not limited <br />to, those provisions, if any, contained in the deed of trust first above mentioned, <br />which provide for the subordination of the lien or charge thereof to another deed <br />or deeds of trust or to another mortgage or mortgages. <br />Loan Number: 7257 <br />