Subordination Agreement


SUBORDINATION AGREEMENT

 

 THIS AGREEMENT, dated as of this the ____ day of _____________, 20__ , is made by and among ______________ (“___________________ “) and ____________________.

WITNESSETH:

WHEREAS, __________________ is the holder of a lien on certain real property pursuant to a Deed of Trust or Mortgage executed by ________________, Borrower(s), for the use and benefit of ____________, beneficiary, dated ______________, 20___ and recorded in Book _______ at Page ________ in the Deed of Trust or Mortgage records of the ___________ of _____________ County, ___________________, (the “First Deed of Trust or Mortgage”); and

WHEREAS, ________________________ is also the holder of a lien on the property described in said ______________ Deed of Trust or Mortgage pursuant to a Deed of Trust or Mortgage dated _____________, 20___ and recorded in the office of the aforesaid ____________________ in Deed of Trust or Mortgage Record Book __________ at Page ________ (the “Second Deed of Trust Mortgage”); and

WHEREAS, _______________________ has requested that __________ subordinate its lien to the lien of the Second Deed of Trust or Mortgage.

OR

WHEREAS, _______________________ has been requested to subordinate it’s Deed of Trust or Mortgage to a Deed of Trust or Mortgage to be executed to _____________________ in the principal amount not to exceed $___________

NOW, THEREFORE, for valuable consideration,______________________ , hereby subordinates the lien of its Deed of Trust or Mortgage recorded in Book ______ at Page ______ to the Deed of Trust or Mortgage executed to _______________, beneficiary, and recorded in Book _______ at page ______ Second Deed of Trust or Mortgage, and the lien of the Second Deed of Trust will at all times be prior and superior to the lien of the First Deed of Trust from this date forward.

IN WITNESS WHEREOF, the parties hereto have executed this Subordination Agreement on the day and year first above written.

[corporate signature and acknowledgement]

__________________________

BY:_________________________________

ITS____________________________

STATE OF ______________________

 

COUNTY OF ____________________

Personally appeared before me, the undersigned authority in and for the said County and State, on this day of ___________, 20___ , within my jurisdiction, the within named _________________, who acknowledged that he is ____________________ of _________________________, a corporation, and that for and on behalf of the said corporation, and as its act and deed, he executed the above and foregoing Subordination Agreement, after first having been duly authorized by said corporation so to do.

SWORN TO AND SUBSCRIBED BEFORE ME, THIS THE ___ DAY OF _______________, 20____ .

_______________________________

NOTARY PUBLIC

My Commission Expires:

_____________________

[individual signature and acknowledgement]

__________________________________

Name

STATE OF ____________________

COUNTY OF __________________

Personally appeared before me, the undersigned authority in and for the said County and State, on this ___ day of ______________, 20____ , within my jurisdiction, the within named _______________________________, who acknowledged that he executed, signed and delivered the above and foregoing Subordination Agreement, after first having been duly authorized by said corporation so to do.

SWORN TO AND SUBSCRIBED BEFORE ME, THIS THE ___ DAY OF ______________, 20___ .

_______________________________

NOTARY PUBLIC

My Commission Expires:

_____________________

State Specific Real Estate Forms

–For State Specific Real Estate Forms you can download in Word format, go to http://www.uslegalforms.com/realestate/