HomeMy WebLinkAboutSUNTRUST BANK SUBORDINATION AGREEMENET
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Book 01182: 1936 Augusta - Richmond County
200803042707/021200813:41 :18.01
$0 00 AGREEMENT
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2008030427 Augusta - Richmond County
Return to:
James T. Plunkett, Esq.
701 Greene Street, Suite 104
Augusta, GA 30901
STATE OF GEORGIA )
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COUNTY OF RICHMOND )
~TijIS AGREEMENT, made and entered into this Y- day of
\. l , 2008, by and between AUGUSTA, GEORGIA, a political subdivision
of tH State of Georgia (hereinafter referred to as "AUGUSTA"), and SUNTRUST
BANK, (hereinafter referred to as "BANK");
SUBORDINA nON AGREEMENT
WITNESSETH:
WHEREAS, THE DOZIER FAMILY LIMITED PARTNERSHIP (hereinafter
referred to as "OWNER") on Augusta 1, 2007, gave to BANK a Commercial Deed to
Secure Debt and Security Agreement to the property described on Exhibit A, to secure a
certain indebtedness to BANK said Commercial Deed to Secure Debt and Security
Agreement is recorded in the Office of the Clerk of the Superior Court of Richmond
County, Georgia, in Realty Reel 1137, page 1200.
WHEREAS, OWNER has granted an Easement dated
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 said Commercial Deed to
Secure Debt and Security Agreement dated August 1, 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 Commercial Deed to Secure Debt and
Security Agreement from OWNER to BANK, dated August 1, 2007 and recorded in the
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Book 01182:1937 Augusta --RiChm~nd co~~~---
2008030427 07/02/2008 13:41: 18.01
Office of the Clerk of the Superior Court of Richmond County, Georgia in Realty Reel
1137, page 1200, 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.
SUNTRUST BANK
BY:
Its:
ATIEST:~ tLob(
Its: V
ic, State of
JEIM. L. THOMPSON
Notatv PublIc
Warren cOUltV
Slate at Georgia
Mv ~ Expfrea Aug 20.2010
Filed in this office:
Augusta - Richmond County
07/02/200813:41:18.01
Elaine C. Johnson
Clerk of Superior Court
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Book 01182: 1938 Augusta - Richmond County
200803042707/02/200813:41:18.01
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Exhibit A
All or portion of said real property being generally known as 1707 Broad Street, Augusta,
GA, 30904 in the City of Augusta, Georgia, according to the present system of
numbering houses or lots.
This conveyance is subject to a security deed from The Dozier Family Limited
Partnership to SunTrust Bank dated July 8, 2005 and recorded in Deed Book 01001, Page
1379, the City of Augusta, Georgia Records. In the event of any default in the
performance of any of the obligations of said prior security deed, Grantee herein may
make any payments or perform any acts necessary to relieve said default, and the cost
thereof shall be added to the indebtedness hereby secured. Any such default in said prior
security deed may at the option of Grantee herein be deemed a Default under this
instrument.
Map and Parcel: 035-2-030-01-0