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<br />S11110RDINNTION AGREEN115NT
<br />THIS SUBORDINATION AGREEMENT is made Brix
<br />day of October
<br />2004 by The city of Grand Is1and d Neora..a --._. —
<br />a place
<br />W1IHREAS,
<br />- -- U j ec—t— Fr st th Street --
<br />_
<br />zxeculeJ anti delivered to " o''' 1 °a dated and rccordOtl nrF 7,9002
<br />Instrument") in Elie sum of, —54000 — �-�� ' which First
<br />in look Volume 7002 1 0701 , Page
<br />as security for a loan (the "Rirsl Lean' ),
<br />Scenrity Instrument 1s a valid and existing lien on tiro real property Jescribetl nn Exhibit "A" attached hoots).
<br />Fl aan F 'I'm Of SF r ar which —
<br />t "ISnrrnwer ") usccnted and delivered In which dezA of trust /namgngz
<br />i"Lm,der""), a deed of InraVmorlgagu in the sum of Y 03�uc P is
<br />Voinnte _ 'w _.--
<br />is intended to be orded hetewilh or is IteOrdctl in Etx)k - -Coumy State of
<br />ITIS11 nenl No. , in the records of _g l 7 -0)ebLask a— - --
<br />title "Second S�riittyyIInstrument" nt �ssecurity for n loan the "Second Loan ");
<br />IEREAS, it is cnndinaa preccttcm h) obtaining file Sccond Loan Ilml the lien of the Second Lon)
<br />shall unconditionally be and remain at all limes a lien or charge upon the land hereinbefcre dcscrilied, pmts
<br />and superior to the lien of the First Tom); still
<br />WHEREAS, Lender is willing to make said loan provided Ibe lien securing the Second Loan is -a lieu
<br />or charge upon the described property prior and superior to the Ilea of the First Loan and provided that
<br />Subordinating Lends will specifically and unconditionally suhonlinme the lien of the First Loan to the
<br />Second Loam and
<br />W 11EREAS, it is m the mutual benefit of the parties hereto that tender make such a loan to ) rstiu rte n
<br />and Subordnating 1 <nder is willing than the lice securing the Second Lin , shall, when mcouled,
<br />lien or clmrgc upon said Innd which is unconditionally prior and superior to be lion securing the First Loan.
<br />NOW, THEREFORE, in consideration of the mutual benerim accruing to the parfics bootie, and other
<br />valuable consideration, the receipt and sufficiency Of which consideration is hereby acknowledged, and in
<br />Order to induce Lender w make the loan above referred to, it is hereby declared, n)demtood and agreed as
<br />follows:
<br />(1) Thal the Second Security Instrument, and any renewals or cxtensiens thereof, shall unconditionally
<br />be and remain at all drams a lien or charge on Elie properly therein described, prior and superior to the
<br />First Security Instrument-
<br />(2) That Lender would not make the Second Loan without this subordination agmmnent.
<br />(3) That this agreement shall be the whole and only agreement with regard to doe subordination of the
<br />First Samily Insuutnmu to aed
<br />he Second Security instrument and shall aapere and cancel. but only
<br />insofar as would affect the pnority between the security insirumenu heretnbofom speeirnany
<br />described, any prior agreements wr to such subordination, including, but not limited to, Nose provisions,
<br />if any. contained in die First Security Inmumem above mentioned, which provide for the subordination
<br />of the lien to another security maWment, deed of dust or mortgage.
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<br />S11110RDINNTION AGREEN115NT
<br />THIS SUBORDINATION AGREEMENT is made Brix
<br />day of October
<br />2004 by The city of Grand Is1and d Neora..a --._. —
<br />a place
<br />W1IHREAS,
<br />- -- U j ec—t— Fr st th Street --
<br />_
<br />zxeculeJ anti delivered to " o''' 1 °a dated and rccordOtl nrF 7,9002
<br />Instrument") in Elie sum of, —54000 — �-�� ' which First
<br />in look Volume 7002 1 0701 , Page
<br />as security for a loan (the "Rirsl Lean' ),
<br />Scenrity Instrument 1s a valid and existing lien on tiro real property Jescribetl nn Exhibit "A" attached hoots).
<br />Fl aan F 'I'm Of SF r ar which —
<br />t "ISnrrnwer ") usccnted and delivered In which dezA of trust /namgngz
<br />i"Lm,der""), a deed of InraVmorlgagu in the sum of Y 03�uc P is
<br />Voinnte _ 'w _.--
<br />is intended to be orded hetewilh or is IteOrdctl in Etx)k - -Coumy State of
<br />ITIS11 nenl No. , in the records of _g l 7 -0)ebLask a— - --
<br />title "Second S�riittyyIInstrument" nt �ssecurity for n loan the "Second Loan ");
<br />IEREAS, it is cnndinaa preccttcm h) obtaining file Sccond Loan Ilml the lien of the Second Lon)
<br />shall unconditionally be and remain at all limes a lien or charge upon the land hereinbefcre dcscrilied, pmts
<br />and superior to the lien of the First Tom); still
<br />WHEREAS, Lender is willing to make said loan provided Ibe lien securing the Second Loan is -a lieu
<br />or charge upon the described property prior and superior to the Ilea of the First Loan and provided that
<br />Subordinating Lends will specifically and unconditionally suhonlinme the lien of the First Loan to the
<br />Second Loam and
<br />W 11EREAS, it is m the mutual benefit of the parties hereto that tender make such a loan to ) rstiu rte n
<br />and Subordnating 1 <nder is willing than the lice securing the Second Lin , shall, when mcouled,
<br />lien or clmrgc upon said Innd which is unconditionally prior and superior to be lion securing the First Loan.
<br />NOW, THEREFORE, in consideration of the mutual benerim accruing to the parfics bootie, and other
<br />valuable consideration, the receipt and sufficiency Of which consideration is hereby acknowledged, and in
<br />Order to induce Lender w make the loan above referred to, it is hereby declared, n)demtood and agreed as
<br />follows:
<br />(1) Thal the Second Security Instrument, and any renewals or cxtensiens thereof, shall unconditionally
<br />be and remain at all drams a lien or charge on Elie properly therein described, prior and superior to the
<br />First Security Instrument-
<br />(2) That Lender would not make the Second Loan without this subordination agmmnent.
<br />(3) That this agreement shall be the whole and only agreement with regard to doe subordination of the
<br />First Samily Insuutnmu to aed
<br />he Second Security instrument and shall aapere and cancel. but only
<br />insofar as would affect the pnority between the security insirumenu heretnbofom speeirnany
<br />described, any prior agreements wr to such subordination, including, but not limited to, Nose provisions,
<br />if any. contained in die First Security Inmumem above mentioned, which provide for the subordination
<br />of the lien to another security maWment, deed of dust or mortgage.
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<br />S11110RDINNTION AGREEN115NT
<br />THIS SUBORDINATION AGREEMENT is made Brix
<br />day of October
<br />2004 by The city of Grand Is1and d Neora..a --._. —
<br />a place
<br />W1IHREAS,
<br />- -- U j ec—t— Fr st th Street --
<br />_
<br />zxeculeJ anti delivered to " o''' 1 °a dated and rccordOtl nrF 7,9002
<br />Instrument") in Elie sum of, —54000 — �-�� ' which First
<br />in look Volume 7002 1 0701 , Page
<br />as security for a loan (the "Rirsl Lean' ),
<br />Scenrity Instrument 1s a valid and existing lien on tiro real property Jescribetl nn Exhibit "A" attached hoots).
<br />Fl aan F 'I'm Of SF r ar which —
<br />t "ISnrrnwer ") usccnted and delivered In which dezA of trust /namgngz
<br />i"Lm,der""), a deed of InraVmorlgagu in the sum of Y 03�uc P is
<br />Voinnte _ 'w _.--
<br />is intended to be orded hetewilh or is IteOrdctl in Etx)k - -Coumy State of
<br />ITIS11 nenl No. , in the records of _g l 7 -0)ebLask a— - --
<br />title "Second S�riittyyIInstrument" nt �ssecurity for n loan the "Second Loan ");
<br />IEREAS, it is cnndinaa preccttcm h) obtaining file Sccond Loan Ilml the lien of the Second Lon)
<br />shall unconditionally be and remain at all limes a lien or charge upon the land hereinbefcre dcscrilied, pmts
<br />and superior to the lien of the First Tom); still
<br />WHEREAS, Lender is willing to make said loan provided Ibe lien securing the Second Loan is -a lieu
<br />or charge upon the described property prior and superior to the Ilea of the First Loan and provided that
<br />Subordinating Lends will specifically and unconditionally suhonlinme the lien of the First Loan to the
<br />Second Loam and
<br />W 11EREAS, it is m the mutual benefit of the parties hereto that tender make such a loan to ) rstiu rte n
<br />and Subordnating 1 <nder is willing than the lice securing the Second Lin , shall, when mcouled,
<br />lien or clmrgc upon said Innd which is unconditionally prior and superior to be lion securing the First Loan.
<br />NOW, THEREFORE, in consideration of the mutual benerim accruing to the parfics bootie, and other
<br />valuable consideration, the receipt and sufficiency Of which consideration is hereby acknowledged, and in
<br />Order to induce Lender w make the loan above referred to, it is hereby declared, n)demtood and agreed as
<br />follows:
<br />(1) Thal the Second Security Instrument, and any renewals or cxtensiens thereof, shall unconditionally
<br />be and remain at all drams a lien or charge on Elie properly therein described, prior and superior to the
<br />First Security Instrument-
<br />(2) That Lender would not make the Second Loan without this subordination agmmnent.
<br />(3) That this agreement shall be the whole and only agreement with regard to doe subordination of the
<br />First Samily Insuutnmu to aed
<br />he Second Security instrument and shall aapere and cancel. but only
<br />insofar as would affect the pnority between the security insirumenu heretnbofom speeirnany
<br />described, any prior agreements wr to such subordination, including, but not limited to, Nose provisions,
<br />if any. contained in die First Security Inmumem above mentioned, which provide for the subordination
<br />of the lien to another security maWment, deed of dust or mortgage.
<br />
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