HomeMy WebLinkAboutATLANTIC SOUTHERN BANK SUBORDINATION AGREEMENT
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Book 01180:0300 Augusta - Richmond County
200802788606/12/200813:14:32.01
$0.00 AGREEMENT
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2008027886 Augusta - Richmond County
Return to:
James T. Plunkett, Esq.
701 Greene Street, Suite 104
Augusta, GA 30901
3T A TE OF GEORGIA )
)
COUNTY OF RICHMOND )
THIS AGREEMENT, made and entered into this :13 rtJ day of
IV\. ~ ' 2008, by and between AUGUSTA, GEORGIA, a political subdivision
of the 'state of Georgia (hereinafter referred to as "AUGUSTA"), and ATLANTIC
SOUTHERN BANK, (hereinafter referred to as "BANK");
SUBORDINATION AGREEMENT
WITNESSETH:
"
WHEREAS, AUGUSTA DISABLED VETERANS FUND, LLC (hereinafter
referred to as "OWNER") on December 28, 2007 gave to BANK a Security Deed to the
property described on Exhibit A, to secure a certain indebtedness to BANK and said
Security Deed is recorded in the Office of the Clerk of the Superior Court of Richmond
County, Georgia, in Realty Reell158, page 2296.
WHEREAS, OWNER has granted an Easement dated
J\1 t; tJO to AUGUSTA across the property described on Exhibit A,
the ori inal of which is to be recorded in the Office of the Clerk of the Superior Court of
Richmond County, Georgia; and
WHEREAS, BANK is willing to subordinate the lien of its said Security Deed
dated December 28, 2007 to any interest that AUGUSTA may have in the above
referenced easement.
NOW, THEREFORE, in consideration of the premises and the mutual
covenants and promises hereinafter contained and the duties to be undertaken, BANK
does hereby agree and declare that the lien of the Security Deed from OWNER to BANK,
dated December 28, 2007, and recorded in the Office of the Clerk of the Superior Court
of Richmond County, Georgia in Realty Reel 1158, page 2296, is and forever shall be
subject, subordinate and inferior in lien right and dignity at all times to the easement from
OWNER to AUGUST A which is to be recorded in the aforesaid Clerk's Office.
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Book 01180:0301 Augusta - Richmond County
200802788606/12/2008 13:14:32.01
subject, subordinate and inferior in lien right and dignity at all times to the easement from
OWNER to AUGUSTA which is to be recorded in the aforesaid Clerk's Office.
WHEREFORE, BANK has caused this instrument to be executed by its duly
authorized officers and seal affixed, all on the date above first written.
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Book 01180:0302 Augusta - Richmond County
200802788606/12/2008 13:14:32.01
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Parcel 1 (Butler Creek}
ALL THAT TRACT 0, parcel of land With improvements thereon, situate, I>ing and being near
the City of Augusta and in Riclunond County, Georgia, and being more particularly described as
follows:
BEGINNING at the intel1iection of the west right-of-way of State Highway #56 and the south
right-of-way ofPhinizy Road; thence along the south right-of-way ofPhinizy Road 2056.0 feet to
a lI2-inch crimped top pipe located on the south right-of-way ofPhinizy Road to the POINT OF
BEGINNiNG; thence South 06 degrees 49 minutes 50 seCQnds East, II distance of 199.86 feet to a
#5 rebaI'; thence NOlth 83 degrees 08 minutes 10 seconds East, a distance of 88.77 feet to a #5
rebar; thence South 05 degrees 47 minutes 44 seconds East, a distance of 204.25 feet to II #5
rebar; thence North 83 degI:ees 50 minutes 33 seconds East, a distance of76.28 feet to II #51'ebar;
thence South 00 degrees 22 minutes 03 seconds East, II distance of2691.44 feet to a #5 rebar;
thence North 89 degrees 37 minutes 57 seconds West, a distance of 246.90 feet to II #5 rebar;
thence South 77 degrees 18 minutes 31 seconds West, a distance of 430.05 feet to II #5 rebar;
thence along a tangent curve to the right having a radius of 216.50 feet, an arc length of 175.00
feet, II11d a chord of North 79 degrees 32 minutes 07 seconds West, a distance of 170.27 feet to a
#5 rebar; thence North 21 degrees 40 minutes 10 seconds Bast, II distance of 69.14 feet to 11#5
rebar; thence North 67 degrees 46 n:rlnutcs 57'secoildS'''West, II distanco of 101.40 feet to a #5
'rabar; . thence "N'OTtI:i"1"--c:i"egrees43 n{rnt~ei: 11 seconc!i-East, a distance of 162.16 reet to a #5
reoor; thence North 59 degrees 55 mjnutes::Z6 'seconds' West, a distance of 302.54 feet to a #5
rebar; thence North 01 degree 25' minutes 35 seconds West, a distance of 708.64 feet to a #5
reOO; thence North 14 degrees 24 minutes 28 seconds East, a distance of 176.29 feet to a #5
rcbar; thence North 50 degrees 26 mm1+tes l2 seconds East, a distance of 597.05 feet to a #5
rebar; thence North 58 degrees 41 minutes 20 seconds West, a distance of 40.00 feet to a #5
rebar; thence along a non-tangent curve to the right having a radius of 417.80 feet" an arc length
of 49.15 feet, and a chord of North 27 degrees 56 minutes 33 seconds East, a distance of 49.12
feet to a #5 rebar; thence along II non-tangent curve to the right having a radius of 574.58 feet, an
arc length of268.12 feet, and a chord of North 37 degrees 56 minutes 25 seeonds East, a distance
of 265.69 feet to a #5 rebar; thence along II non-tangent curve to the rig~t having a radius of
155.01 feet, an arc length of 108.78 feet, and II chord of North 71 degrees 24 minutes 44 seconds
East, a distance or106.56 feet to a #5 rebar; thence South 88 degrees 29 minutes 00 seconds East,
a distance of 197.79 feet to a #5 rebar; thence North 01 degree 31 minutes 00 seconds East, a
distanCe of 190.83 feet to a #5 rebar; thence along a tangent CUl'Ve to 1:he left having a radius of
1215.47 feet, an arc distance of 177.08 feet, and a chord of North 02 degrees 39 minutes 25
seconds West, a distance of 176.92 feet to II #5 rebar; thence North 06 degreel3 49 minutes 50
seconds West, II distance of 222.86 feet to a #5 rebar; thence North 06 degrees 49 minutel3 50
seconds West, II distance of 174.02 feet to a #S rebal"j thence South 83 degrees IO minutes 20
seconds West, a distance of 50.00 feet to a #5 rehar; thence North 06 degrees 49 minutes 50
seconds West, a distance of 400.98 feet to 11#5 rebar located on the south right-of-way ofPhinizy
Road; thence along the south right-of-way of Phinizy Road, North &3 degrees 10 minutes 10
seconds East, a distance of 100.00 feet to a l/2-inch crimped top pipe at the POlNT aI".
BEGINNING.
I
Said property containing 46.39 acres, more or less, and bein'g designated as Parcel 1 on plat
pl"epared by Besson and Gore Professional Land SUl'Veyors, dated July 23, 1993.
Parcel 2
Book 01180:0303 Augusta - Richmond County
2008027886 06/12/2008 13: 14: 32.01
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ALL !HAT TRACT or ~arc:l of land, with improvements the~~n, ~ituate, ~htg and being-ne~;:-'
~he City of Augusta and 1Jl Richmond County, Georgia, and being more particularly described liS
tollows:
BEG~G at the interse.ct!on of the western right-of-way of State Highway No. 56' and the
s~uthern rIght-of-way ofPhlU1ZY Road; thence along the southern right-of-way ofPhinizy Road II
dls~~ce of 2056.0 feet to II 112-inch crimped top pipe located at the southern right-of-way 'of
P~l1lZY Road; thence along the southern right-of-way of Phinizy Road, South 83 degrees 10
m~utes 10 seconds We.~ a distance of 100.00 feet to 'II #5 rebar; thence South 06 degrees 49
mmutes 50 seconds East, II distance of 400.98 feet to a #5 rebar at the POINT OF BEGINNlNG'
thence North 83 degrees 10 minutes 20 seconds East, II distance of50.00 feet to a #5 rebar' thenc~
South 06 degrees 49 minutes 50 seconds East, II distance of 174.02 feet to a #5 robar! thence
South 06 degrees 49 minutes 50 seconds East, a distance of 222.86 feet to a #5 rebar: thence
along a tangent curve to the right having a radius of 1215.47 feet, an arc length of 177~08 feet,
and a chord of South 02 degrees 39 minutes 25 seconds East, a distance of 176.92 feet to a #5
I'ebar; then<1e South 01 degree 31 minutes 00 seconds West, a distance of 190.83 feet to a #5
rebar; thence North 88 degrees 29 minutes. 00 s.eoonds West, a distance of 197.79 feet to a #5
r~~~; th"'l1ce. ~long .a n?n-:tan.gent ?~e ~o .the. left.having a radius of 155.01 feet, an arc length of
108.78 feet, and a chord of South :11 deg~<;es 24. miri.ut~s 44 secondS West, a diStiiiice orHj"6.S6
feet to a #5 reba.r; thence along a non-t.-inge.nt..cur'v'c.to'the left having a radius of 574.58 feet, an
arc length of 268.12 feet, and a "c1~ord' of South 3.7 degrees 56 minutes 25 seconds West, a
distance of 265 .69 feet to a #5 rebar; thence along a non-tangent curve to the left having a radius
of 417.80 feet, an ArC le);!gfu of 49.15 fc~t, l1l).d 11 chord of South 27 degrees 56 minutes 33
seconds West, a distance of 49.l2 feet to a #5 rebar; thence South 58 degrees 41 minutes 20
seconds East., a distance of 40.0 feet to a #5 rebar; thence South 50 degrees 26 minutes 12
seconds West, a distance of 597.05 feet to a #5 rebar; thence South 14 degrees 24 minutes 28
seconds West, Ii distance of 176.29 feet to a #5 rebar; thence South 01 degree 25 minutes 35
seconds East, a distanced of 708.64 feet to a #5 rebar; thence South 59 degrees 55 minutes 26
seconds East, a distance of 302.54 feet to 11 #5 rebar; thence South 17 degrees 43 minutes 17
seconds West, a distance of 162.26 feet to II #5 rebur; thence South 67 degrees 46 minutes 57
seconds East, a distance of 101.40 feet to a #5 rebar. thence South 21 degrees 40 minutes 10
seconds West, a distance of 69.14 feet to' a #5 rebar; thence along a non-tangent curve to the left
having a radius of 216.50 feet, an arc length of 175.00 feet, and a chord of South 79 degrees 32
minutes 07 seconds East, a distance of 170.27 feet to a #5 rebar; thonce North 77 degrees 18
minutes 31 seconds East, a distance of 430.05 feet to a #5 rebar; thence South 89 degrees 37
minutes 57 seconds East, a distance of 246,90 feet to a #5 rebar; thence South 00 degrees 22
minutes 03 seconds East, a distance of 417.09 feet to a granite monument; thence South 76
degrees 05 minutes 13 seconds West, a distance of 894.96 feet to II 2.inch open top pipe; thence
South 73 degrees 27 minutes 01 second West, a distanoe of229.68 feet to a l-inch open top pipe;
thence South 74 degrees 14 minutes 57 seconds West, n distance of 118.95 feet to a I-inch open
top pipe; thence South 74 degrees 35 minutes 39 seconds West, a distance of 138.46 feet to an
w.:le; tbence South 74 degrees 32 minutes 07 seconds West; a distance of 378.77 feet to a #5
rebaI'; thenoe South 00 degrees 52 minutes 55 seconds East, a distance of 106.49 feet to a #5
rebar; thence North 81 degrees 11 minutes 28 seconds West, a distance. of 60.78 feet along the
right-oi-way of Gulfen R.oad to a #5 rebar; thence South 86 degrees 11 minutes 12 seconds West.,
a distance of 198.03 feet along the right-of-way of Gulfen Road to a #5 rebar; thence North 85
degrees 00 minutes 08 seconds West, II distance of 44.27 feet along the right-of-way of Gulfen
Road to the intersection 'of the southern right-of-way of Jack Kelly Road to a #5 rebar; thence
North 16 degrees 27 minutes 37 seconds West, Ii distance of 45.84 feet nlongthe right-ot:way of
Jack Kelly Road to a #5 rebllI"; thence along the right-or-way of iackKeUy Road aroWld a tangent
curve having a radius of 526.15 feet, an arc length of 109.47 feet, and a chord of North 10
degrees 29 minutes 58 seconds 'Vest, a distance of 109.47 feet to a #5 rebar; thence North 04
degrees 32 minutes 18 seconds West, a distance of 46.45 feet along the right-of-way of Jack
Kelly Road to a #5 I'ebar, thence North 06 degrees 34 minutes 42 seconds East. a distance of
143.27 feet to a 2-inch open end pipe: thence North 19 degrees 21 minutes 32 seconds East, a
distance of 150.06 feet to a #5 rehar, thence South 49 degrees 41 minutes 30 seconds East, a
distance of 269.40 feet to u #5 rebnr; thence North Q9 degrees 26 minutes 30 seconds West, a
distance of 1264.43 feet to a I-inch, open top pipe; thence North 09 degrees 26 minutes 30
seconds West, a distance of 302.57 feet to a I-inch open top pipe; thence North 78 degrees 35
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Book 01180:0304 Augusta - Richmond COU;Y - ---...
2008027886 06/12/2008 13: 14:32.01
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. . e -f355 S7 feet to a I-inch crimped top pipe; thence North 24
minutes 45 seconds West, a d1sta1'lC v d" f 148320 roet to a #5 rebar' thence North 24
. t 48 0 ds East, a Istance 0 ." '. k
degrees 46 ITunu es see n d' ta f 410 00 feet to tb.e center line of Butler Cree;
degrees 46 tninutes 48 s~nds East, a 1S nc~~ ro ~ li11e) as it meanders 390 feet, mere Of
thence a.10ng the center line of Butler i~ee~ (C P k P ~ line also being described as a traverse
lesS, to a #S rebar in the cen~eI" line 0 ut"J;:' :a;istance of 364.47 feet; "thence North 16
line South 55 degrees 01 mInute 07 seconst~ce ~f 31720 feet to a i-inch critnped top pipe;
degTees 41 minutes 03 secop':d~ .p,3,:;t"Oa3.:"n:.. d' .., E t, 'distance of 361.32 feet to a #5 rebar;
ihence "North 83 degrees 56:-m.wutes . .:~~~c.on .s, as a
thence South 06 degrees 50 '.minutes .Hi .seconds East, a distance of 200.72 feet to a #5 rebar;
thence North 83 degrees 53 minutes 45 seconds East, a distance of 49 .31 feet to a #5 rebar; thence .
North 83 degrees 10 minutes 20 seconds East, a distance of 270.62 feet to a #S rebar; thence
North 83 degrees 10 minlltes 20 seconds East, a. distance of 80.06 feet to a #S rebar; thence North
.83 degrees 10 minute.s 20 .secQnd~ E.a$t. Po dW:aPce of 130..00 fee~ to a #5 rebar, being the POINT
OF BEGINNING.
Said property being designated as Parcel 2. on a plat prepared by Besson and Gore Professional
Land SurveyOI"S, dated July 23, 1993.
TOGETfmR WITH and subject to all covenants, easements and restrictions of record and being
the same property described as follows:
ALL THAT TRACT or parcel of land, with improvements thereon, situate, lying and being in the
State of Georgia, County of Richmond, in the 123rd District G M.D" and being more particularly
shown and designated as "Tract' A' 149;404 AC" on a. plat prepared for OakwOod Land
Development Corporation, by Besson and pope under date of June 26, 1986, last revised January
20, 1987, a copy of which is recorded in the office of the Clerk of Superior Court of Ricbmond
County, Georgia, in Realty Reel 255, Page 756.
Reference is hereby made to. said plat for a more co,nplete and accurate description as to the
metes, bounds and location of said property.
LESS AND EXCEPT ALL THAT TRACf or parcel of land, with improvements thereon, situate,
lying and being in the State of Georgia, County of Richmond, containing 46.39. acres, as
conveyed in General Warranty Deed dated August 25, 1993, by Oakwood Land Development
Corporation to ROC Comnllinities, Inc.
"
Filed in this office:
Augusta - Richmond Count
_ _ 06~~~008 13:14:32.01 y
Elame C. Johnson
Clerk of Superior Court