HomeMy WebLinkAboutCUNNNA MUTUAL MORTAGE CORPORATION SUBORDINATION AGREEMENT
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Book 01128:0905 Augusta - Richmond County
200703416506/25/200712:58:28.00
$0.00 AGREEMENT
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2007034165 Augusta - Richmond County
Return to:
County Attorney's Office
701 Greene Street, Suite 104
Augusta, GA 30901
STATE OF GEORGIA )
) SUBORDINATION AGREEMENT
COUNTY OF RICHMOND )
THIS AGREEMENT, made and entered into this ~day of
C\u.^,-O ,2007, by and between AUGUSTA, GEORGIA, a political subdivision
~~ -St;te of Georgia (hereinafter referred to as "AUGUSTA"), and HEALTH
CENTER CREDIT UNION and subsequently assigned to CUNA MUTUAL
MORTGAGE CORPORATION, (hereinafter referred to as "BANK");
WITNESSETH:
WHEREAS, ALLEN E. SLAVENS AND CANDACE W. SLAVENS,
(hereinafter referred to as "OWNER") on November 19, 2001 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 Reel 759, page 960 and Assignment dated
November 19,2001 and recorded in said Clerk's Office on Realty Reel 773, page 868.
OWNER has granted an Easement dated
.2... I () to AUGUSTA across the property described on Exhibit A,
the ori ina 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 November 19,2001 and Assignment dated November 19,2001 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 ofthe Security Deed from OWNER to BANK,
dated November 19,2001, and recorded in the Office of the Clerk of the Superior Court
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Book 01128:0906 Augusta - Richmond County
200703416506/25/2007 12:58:28.00
of Richmond County, Georgia in Realty Reel 759, page 960 and Assignment dated
November 19,2001 and recorded on Realty Reel 773, page 868, is and forever shall be
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.
PHH MORTGAGE CORPORATION
LIMITED POWER OF TTORNEY FOR
CUNA MUTU J'4 R GE
CORPO 0
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Book 01128:0907 Augusta - Richmond County
200703416506/25/2007 12:58:28.00
Exhibit A
All that lot or parcel of land, with improvements thereon, situate, lying and being in the
State of Georgia, County of Richmond, and being known and designated as Lot 21, Block
H, Section II-B, Sand Ridge Subdivision as shown on a plat recorded in the Office of the
Clerk of Superior Court of Richmond County, Georgia in Reel 237, pages 557-564.
Reference hereby made to said plat for a more complete and accurate description of said
property.
Map and Parcel No.: 140-0-502-00-0
Filed in this office:
Augusta - Richmond County
06/25/2007 12:58:28.00
Elaine C-:-Johnson
Clerk of Superior Court