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<br />corded Return To:
<br />Oth Street, Suite 201
<br />NE 65506
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<br />ir. G's Car Care Center, Inc.
<br />7214644007
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<br />_=:,,Y., ~__: _ :--..-SU~1~fl~iAT101f~~REEM>~NT
<br />THIS AGREEMENT is dated for reference January 28, 2010, and is between Gary R. Jacobson and Mr. G's Car Care Censer,
<br />Inc. owner(s) of the land described in the Deeds of Trust referenced below ("Owner"), Exchange Bank ("Lender") and the SMALL..
<br />BUSINESS ADMINISTRATION, an agency duly created under and by virtue of an Act of Congress, having its principal office in
<br />Washington, in the District of Columbia, and a Commercial Loan Servicing Center at 2719 North Air Fresno Drive, Suite 107, Fresno,
<br />California 93727 (hereinafter called "SBA").
<br />SBA is the present holder and beneficiary of that/those certain Deed(s) of Trust, dated April 23, 2004, to secure a Note or
<br />Notes in the sum of $502,000.00 ("SBA Deed(s) of Trust"). The SBA Deed(s) of Trust was/were recorded as lnstrument Number(s)
<br />0200405746 and 0200405749 in the Hall County Official Records on June ] 0, 2004.
<br />SBA is also the holder and beneficiary of other loan documents executed by the Owner to provide the SBA further security
<br />for the Note in the sum of $502,000.00, including an Assignment of Leases and Rents.
<br />Owner has also executed, or is about to execute, a Deed of Trust securing a Note in a sum not to exceed $594,249.98 in favor
<br />of Lender ("Lender's Deed of Trust"). Lender's Deed of Trust shall be recorded concurrently herewith in the Hall County Official
<br />Records.
<br />Lender has requested that the SBA Deed(s) of Trust be subordinated to the Lender's Deed of Trust. SBA is willing to
<br />subordinate the lien(s) of the SBA Deed(s) of Trust provided it retains its lien priority with regard to all other legal and equitable
<br />interests in the property.
<br />In consideration of the mutual benefits to the parties and to induce Lender to make a loan to Owner, it is hereby agreed as
<br />foiiows: -
<br />(1) Lender's Deed of Trust, and any renewals or extensions thereof, shall be a lien on the property prior to the lien of the
<br />SBA Deed of Trust.
<br />(2) Lender would not make its loan without this Subordination Agreement.
<br />(3) Except as expressly provided herein, this agreement shall not operate or be construed to alter the priority of the SBA
<br />Deed of Trust with regard to any legal or equitable interest in the property. Owner and Lender shall hold SBA harmless from
<br />any impairment of its lien (with regard to any third party) which is occasioned by this subordination,
<br />(4) All proceeds of Lender's loan, if a refinance, shall be applied to satisfy debt secured by a lien(s) presently superior
<br />to the lien of the SBA Deed of Trust, the following described uses, if any, _ plus customary closing costs. Any other
<br />use of proceeds not described herein shall void this agreement.
<br />(5) This Subordination Agreement is void if not duly executed by Owner, Lender, SBA, the SBA Borrower(s) and all
<br />Guarantors of the SBA loan,
<br />(6) Com liance with 504 Loan Pro ram Re uirements. Lender confirms that the note evidencing the Lender Loan, any
<br />lien. instruments securing the Lender Loan, and all other documents executed in connection with the Lender Loan ("Lender's
<br />Loan Documents") (a) have no open-ended features and allow reasonable future advances only for the costs of collection the
<br />Mr. G's Car Care Center Subordination 1
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