Fillable Printable Subordinate Mortgage - New Jersey

Subordinate Mortgage - New Jersey

Prepared by:

SUBORDINATION OF MORTGAGE

made this day of , 20 ,

BETWEEN:

herein designated as Subordinator,

AND:

herein designated as Subordinatee,

WHEREAS, the Subordinator is the holder of a mortgage, originally in the amount of

$ , and the bond, note or other obligation secured therein, dated , made

by:

OWNER:

BANK:

upon the lands and premises therein described, lying and being in County of ,

and State of New Jersey, which mortgage was recorded on , in the Office of the

Clerk / Register, County of , in Book , at Page .

WHEREAS, the Subordinatee desires to place a First Lien Priority Mortgage on lands

and premises owned by and,

known as Block , Lot ,

which First Lien Mortgage, the owner desires to grant to Subordinatee.

WHEREAS, the Subordinatee will receive, accept and record a First Lien Mortgage and

require that the aforementioned mortgage held by the Subordinator shall be subordinated and

postponed tothe First Lien Mortgage to be granted by Subordinatee.

NOW THEREFORE, in consideration of the sum of ONE DOLLAR and other good

and valuable consideration the receipt whereof is hereby acknowledged, the Subordinator hereby

accepts and agrees that the mortgage of the Subordinator shall be subject, subordinate and

inferior to the First Lien Mortgage about to be granted to the Subordinatee, and to all renewals

and extensions, notwithstanding the prior execution and recording of the mortgage of the

Subordinator, in the amount of $ .

References herein to any parties, persons, entities or corporations, the use of any

particular gender of the plural or singular number is intended to include the appropriate gender or

numbers of the text of the within instrument may require.

Whenever in this instrument any party shall be designated or referred to by name or

general reference, such designation is intended to and shall have the same effect as if the words

“heirs, executors, administrators, personal or legal representatives, successors and assigns” had

been inserted after each and every such designation.

June

IN WITNESS WHEREOF, the Subordinator has signed and sealed this Subordination

of Mortgage, or if a Corporation, has caused this Subordination to be signed by its proper

corporate officers and its corporate seal to be affixed, the day and year first above written.

Signed, sealed and delivered in

the presence of or Attested by:

__________________________________ by:

__________________________________

STATE OF :

COUNTY OF :

BE IT REMEMBERED, that on 20 , before me, the subscriber,

personally appeared,

who being by me duly sworn on his/her oath, deposes and makes proof to my satisfaction,

1) That he/she is the Secretary of the Corporation named in the within instruments;

2) That is the President of said Corporation;

3) That the execution, as well as the making of this instrument, has been duly authorized by

a proper resolution of the Board of Directors of the said Corporation.

4) That deponent well knows the corporate seal of said Corporation.

5) That the seal affixed to said instrument is the proper corporate seal and was thereto

affixed and said instrument signed and delivered by said President as and for the

voluntary act and deed of said Corporation, in the presence of deponent, who thereupon

subscribed his/her name thereto as attesting witness.

Sworn to and subscribed before me

the date aforesaid.

________________________________

Notary

Record & Return to:

June 29

Public

550 Mamaroneck Avenue Ste 202

Harrison, NY 10528

Judicial Title Insurance Agency

LLC