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2004057138 <br />Beneficiary declares, agrees and acknowledges that: <br />(a) He consents to and approves (i) all provisions of the note and Security Instrument <br />in favor of Lender above referred to, and (ii) all agreements, including but not <br />limited to any loan or escrow agreements, between Owner and Lender for the <br />disbursement of the proceeds of Lender's loan; <br />(b) Lender in making disbursements pursuant to any such agreement is under no <br />obligation or duty to, nor has Lender represented that it will, see to the application <br />of such proceeds by the person or persons to whom Lender disburses such <br />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 <br />subordination herein made in whole or in part; <br />(c) He intentionally and unconditionally waives, relinquishes and subordinates the lien <br />or charge of the deed of trust first above mentioned in favor of the lien or charge <br />upon said land of the Security Instrument in favor of Lender above referred to and <br />understands that in reliance upon, and in consideration of, this waiver, <br />relinquishment and subordination, specific loans and advances are being and will <br />be made and, as part and parcel thereof, specific monetary and other obligations <br />are being made and will be entered into which would not be made or entered into <br />but for said reliance upon this waiver, relinquishment and subordination; and <br />(d) An endorsement has been placed upon the note secured by the deed of trust first <br />above mentioned that said deed of trust has by this instrument been subordinated <br />to the lien or charge of the Security Instrument in favor of Lender above referred <br />to. <br />NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION, WHICH ALLOWS <br />THE PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN, A <br />PORTION OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF <br />THE LAND. <br />IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, <br />THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO. <br />IN WITNESS WHEREOF, the parties have executed this Agreement as of the day first <br />above written <br />Beneficiary: <br />AMAXIMIS LENDING, LIMITED PARTNERSHIP <br />By: AMAXIMIS COMPANY, L.L.C., General <br />By. <br />Donna Buckley, Vice President <br />OLD KENT BA <br />By: <br />n <br />A�L <br />Loan Number: 7257 <br />