HomeMy WebLinkAboutQUEENSBOROUGH NATIONAL BANK & TRUST COMPANY SUBORDINATION AGREEMENT SHADOWLAND PROPERTIES 60107 BUTLER CREEK SANITARY SEWER REPLACEMENT-EAST
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Book 01184:2155 Augusta - Richmond County
200803251307/17/2008 13:15:53.00
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2008032513 Augusta - Richmond County
Return to:
James T. Plunkett, Esq.
701 Greene Street, Suite 104
Augusta, GA 30901
STATE OF GEORGIA )
) SUBORDINATION AGREEMENT
COUNTY OF RICHMOND )
THIS AGREEMENT, made and entered into this '~ay of ~~ , 2008, by
and between AUGUST A, GEORGIA, a political subdivision of the State of Georgia
(hereinafter referred to as "AUGUSTA"), QUEENSBOROUGH NATIONAL BANK &
TRUST COMPANY, (hereinafter referred to as "BANK");
WITNESSETH:
WHEREAS, SHADOWLAND PROPERTIES, LLC (hereinafter referred to as
"OWNER") on December 20, 2006 gave to BANK a Deed to Secure Debt and
Assignment of Rents to the property described on Exhibit A, to secure a certain
indebtedness to BANK and said Deed to Secure Debt and Assignment of Rents is
recorded in the Office of the Clerk of the Superior Court of Richmond County, Georgia,
in Realty Reel 1096, page 1892.
WHEREAS, OWNER has granted an Easement dated c:::..1?, 10& to
AUGUSTA across the property described on Exhibit A, the origi~ 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 Deed to Secure
Debt and Assignment of Rents dated December 20, 2006 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 Deed to Secure Debt and Assignment of
Rents from OWNER to BANK, dated December 20,2006, and recorded in the Office of
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Book 01184:2156 Augusta - Richmond County
200803251307/17/200813:15:53.00
the Clerk of the Superior Court of Richmond County, Georgia in Realty Reel 1096, page
1892, 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.
QUEENSBOROUGH NATIONAL BANK
& TRUST COMPANY
BY:
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ATTES
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Book 01184:2157 Augusta - Richmond County
200803251307/17/2008 13:15:53.00
Exhibit A
All that tract or parcel of land, with any improvements thereon, situate, lying and being in
Richmond County, Georgia, containing 8.22 acres, and being shown and designated as
"Tract B 8.22 Acres" on a plat prepared for the Augusta-Richmond County Commission
by W.R. Toole Engineers, Inc. dated March 12,2004, and recorded in the Office of the
Clerk of the Superior Court of Richmond County, Georgia, in Deed Book I, at Page 489;
reference being made to said plat for a more complete and accurate description as to the
metes, bounds and location of said property.
Said property is bounded on the North by Phinizy road, bounded on the East by Old
Savannah Road, bounded on the South by property now or formerly owned by Virginia
B. Gaines, et.al., and bounded on the West by property now or formerly of the Augusta
Shrine Club, Inc.
Said property is the same as that conveyed by deed from Virginia B. Gaines, Bobbye V.
Gaines, and John E. Gaines to Shadowland Properties, LLC dated August 26, 2040, and
recorded in the Office of the Clerk of the Superior Court of Richmond County, Georgia,
in Deed Book 947, Page 385.
Map and Parcel No.: 145-0-006-00-0
Filed in this office:
Augusta - Richmond County
07/17/200813:15:53.00
crame G. Jonnson
Clerk of Superior Court