HomeMy WebLinkAboutSECURITY FEDERAL BANK SUBORDINATION AGREEMENT
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Book 01164:0595 Augusta - Richmond County
200800668102114/200814:06:49.01
$0.00 AGREEMENT
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2008006681 Augusta - Richmond County
Return to:
County Attorney's Office
701 Greene Street, Suite 104
Augusta, GA 30901
STATE OF GEORGIA )
)
COUNTY OF RICHMOND )
SUBORDINA nON AGREEMENT
THIS AGREEMENT, made and entered into this 23rd day of
January, 2008, by and between AUGUSTA, GEORGIA, a political subdivision of
the State of Georgia (hereinafter referred to as "AUGUSTA"), SECURITY FEDERAL
BANK, (hereinafter referred to as "BANK");
WITNESSETH:
WHEREAS, CYNTHIA O'NEAL (hereinafter referred to as "OWNER") on
January 29, 1997 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
547, page 1886.
WHEREAS, OWNER has granted an Easement dated February 11, 2008 to
AUGUSTA across the property described on Exhibit A, the original 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 January 29, 1997 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 January 29,1997, and recorded in the Office of the Clerk of the Superior Court of
Richmond County, Georgia in Realty Reel 547, page 1886, is and forever shall be
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Book 01164:0596 Augusta - Richmond County
2008006681 02/14/2008 14:06:49.01
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.
SECURITY FEDERAL BANK
BY: PQ?~:!JBo:r~S"leY
Its: Vice President
ATTEST: ~'/:{,4utv
Elsie:K. Dicks
Its: V;cp- Prp-!,; i npn t
Signed, Sealed and Delivered in
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,.~'lJn5>fficial Witness
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Book 01164:0597 Au .
2008006681 0 gusta - RIchmond County
2/14/2008 14:06:49.01
Exhibit A
All that lot or parcel of land with improvements thereon, situate, lying and being in the
State of Georgia, County of Richmond, being known and designated as Lot 33, Block
"C", Rocksbury Subdivision as shown on a plat prepared by H. Lawson Graham &
Associates, Inc. for Cynthia O'Neal under the date of January 28, 1997, which plat is
recorded in the Office of the Clerk of Superior Court of Richmond County, Georgia in
Realty Reel 547, page 1885. Reference is hereby made to said plat for a more complete
and accurate description as to the metes, bounds and location of said property.
Said property is subject to Protective Covenants recorded in the aforesaid Clerk's Office
in Realty Book 38R, page 117.
Map and Parcel No.: 132-0-261-00-0
Filed in this office:
Augusta - Richmond County
02/14/200814:06:49.01
Eiaine C. Johnson
Clerk of Superior Court