Fillable Printable Subordination Agreement of Mortgage
Fillable Printable Subordination Agreement of Mortgage
Subordination Agreement of Mortgage
CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENT-THIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLY.
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 mortgage and the bond or
note secured thereby:
Mortgage dated the day of , , made by
to
in the principal sum of $ and recorded in Liber/Reel 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 execute and deliver to said party of the second
part, a mortgage to secure the principal sum of
dollars
and interest, covering premises
Standard N.Y.B.T.U. Form 8030 – Subordination Agreement (of Mortgage) – Uniform Acknowledgment
Form 3263
and 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 be subordinated in the manner
hereinafter mentioned,
NOW THEREFORE, in consideration of the premises and to induce said party of the second part to accept said
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 part hereby covenants and
agrees with said party of the second part that said mortgage held by said party of 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 be
delivered to the party of the second part hereto, and to all advances heretofore made or which hereafter may be
made 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 for examination of title,
surveys, and any other disbursements and charges in connection therewith) to the extent of the last mentioned
amount 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 of the
parties hereto, their respective heirs, personal representatives, successors and assigns. The word "party" shall be
construed 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 and year first
above written.
IN PRESENCE OF:
______________________________________
______________________________________
______________________________________
ACKNOWLEDGEMENT TAKEN IN NEW YORK STATE
State of New York, County of , ss:
On the day of in the year , before
me, the undersigned, personally appeared
, personally known to me or proved to me on the basis of
satisfactory evidence to be the individual(s) whose name(s) is (are)
subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their capacity(ies), and that
by his/her/their signature(s) on the instrument, the individual(s), or
the person upon behalf of which the individual(s) acted, executed the
instrument.
ACKNOWLEDGEMENT BY SUBSCRIBING WITNESS
TAKEN IN NEW YORK STATE
State of New York, County of , ss:
On the day of in the year , before
me, the undersigned, a Notary Public in and for said State, personally
appeared , the
subscribing witness to the foregoing instrument, with whom I am
personally acquainted, who, being by me duly sworn, did depose and
say that he/she/they reside(s) in
(if the place of residence is in a city, include the street and street number if any, thereof);
that he/she/they know(s)
to be the individual described in and who executed the foregoing
instrument; that said subscribing witness was present and saw said
execute the same; and that said witness at the same time subscribed
his/her/their name(s) as a witness thereto
ACKNOWLEDGEMENT TAKEN IN NEW YORK STATE
State of New York, County of , ss:
On the day of in the year , before
me, the undersigned, personally appeared
, personally known to me or proved to me on the basis of
satisfactory evidence to be the individual(s) whose name(s) is (are)
subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their capacity(ies), and that
by his/her/their signature(s) on the instrument, the individual(s), or
the person upon behalf of which the individual(s) acted, executed the
instrument.
ACKNOWLEDGEMENT TAKEN OUTSIDE NEW YORK
STATE
*State of , County of , ss:
*(Or insert District of Columbia, Territory, Possession or Foreign
County)
On the day of in the year
,before me the undersigned personally appeared
Personally known to me or proved to me on the basis of satisfactory
evidence to be the individual(s) whose name(s) is (are) subscribed to
the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their capacity(ies), that by his/her/their
signature(s) on the instrument, the individual(s) or the person upon
behalf of which the individual(s) acted, executed the instrument, and
that such individual make such appearance before the undersigned in
the
(add the city or political subdivision and the state or country or other
place the acknowledgement was taken).
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Subordination Agreement
