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Subordination Agreement (Of Mortgage) 8030 - New York

Subordination Agreement (Of Mortgage) Form. This is a New York form and can be used in Mortgages Title Real Estate Statewide .
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Form 8030 (3/00) Subordination Agreement (of mortgage) CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENT THIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLY. THIS AGREEMENT , made the day of, BETWEEN party of the first part, and party of the second part, WITNESSETH: WHEREAS ,the said party of the first part now owns and holds the following mortga a gend the bond or note secured thereby: Mortgage dated the day of made by to in the principal sum of $ and recorded in the Liber of section of Mortgages, page in the office of the of the covering premises hereinafter mentioned or a part thereof, and WHEREAS, the present owner of the premises hereinafter mentioned is about to exec ute and deliver to said party of the secondpart, a mortgage to secure the principal sum of dollarsand interest, covering premises <<<<<<<<<********>>>>>>>>>>>>> 2and more fully described in said mortgage, and WHEREAS, said party of the second part has refused to accept said mortgage unless said mortgage held by the party of the first part besubordinated in the manner hereinafter mentioned, NOW THEREFORE , in consideration of the premises and to induce said party of the second part to acceptsaid mortgage and also in consideration of one dollar paid to the party of the first part, the receipt whereof is hereby acknowledged, the said party of the first parthereby covenants and agrees with said party of the second part that said mortgage held by said partyof the first part be and shall continue to be subject and subordinate in lien to the lien of said mortgage for dollars and interest about to bedelivered to the party of the second part hereto, and to all advances heretofore made or which hereafter may bemade thereon (including but not limited to all sums advanced for the purpose of paying brokerage commissions,consideration paid for making the loan, mortgage recording tax, documentary stamps, fee of examination of title,surveys and any other disbursements and char ges in connection therewith) to the extent to the last mentionedamount and interest, and all such advances may be made without notice to the party of the first part, and to any extensions, renewals and modifications thereof. This agreement may not be changed or terminated orally . This agreement shall bind and enure to the benefit ofthe parties hereto, their respective heirs, personal representatives, successor and assigns. The word party shall beconstrued as if it read parties whenever the sense of this agreement so requires. IN WITNESS WHEREOF , the said party of the first part has duly executed this agreement the day andyear first above written. INPRESENCEOF : <<<<<<<<<********>>>>>>>>>>>>> 3<<<<<<<<<********>>>>>>>>>>>>> 4Acknowledgement taken in New York State Acknowledgement taken in New York State State of New York, County of , ss: State of New York, County of , ss:On the day of , in the year , before me, On the day of , in the year , before me,the undersigned, personally appeared the undersigned, personally appeared personally known to me or proved to me on the basis of personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s) or the person upon behalf of which instrument, the individual(s) or the person upon behalf of whichthe individual(s) acted, executed the instrument. the individual(s) acted, executed the instrument. Acknowledgement b Subscribing y Witness taken in New Acknowledgement taken outside New York State York State State of New York, County of , ss: *State of New York, County of , ss: *(or insert District of Columbia, Territory, Possession or Foreign Country) On the day of , in the year , before me, the undersigned, personally appeared On the day of , in the year , before me, the undersigned, personally appeared the subscribing witness to the foregoing instrument, with whom I am personally acquainted, who being by me duly sworn, did personally known to me or proved to me on the basis of depose and say, that he/she/they reside(s) in satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to methat he/she/they know(s) that he/she/they executed the same in his/her/their capacity(ies),to be the individual described in and who executed the and that by his/her/their signature(s) on the instrument, the foregoing instrument; that said subscribing witness was individual(s) or the person upon behalf of which the individual(s)present and saw said acted, executed the instrument, and that such individual made execute the same; and that said witness at the same time such appearance before the undersigned in the subscribed his/her/their name(s) as a witness thereto. (add the city or political subdivision and the sate or country or other place the acknowledgement was taken). Title No.: SECTION BLOCK LOT TO COUNTYOR TOWN RETURN BY MAIL T:O Distributed by Zip No. CE FOR USE OF RECORDING OFFICEATHIS SPVE RESER
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