HomeMy WebLinkAboutSUNTRUST BANK SUBORDINATION AGREEMENT
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Book 01182: 1939 Augusta - Richmond County
200803042807/021200813:41 :18.02
$0 00 AGREEMENT
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2008030428 Augusta _ Richmond County
Return to:
James T. Plunkett, Esq.
701 Greene Street, Suite 104
Augusta, GA 30901
STATE OF GEORGIA )
)
COUNTY OF RICHMOND )
THIS AGREEMENT, made and entered into this 7':!:1J day of
~, 2008, by and between AUGUSTA, GEORGIA, a political subdivision
of the State of Georgia (hereinafter referred to as "AUGUSTA"), and SUNTRUST
BANK, (hereinafter referred to as "BANK");
SUBORDINATION AGREEMENT
WITNESSETH:
WHEREAS, THE DOZIER FAMILY LIMITED PARTNERSHIP (hereinafter
referred to as "OWNER") on July 8, 2005, 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 1001, page 1379.
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 July 8, 2005 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 July 8, 2005 and recorded in the
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Book 01182: 1940 Augusta - Richmond County
2008030428 07/02/2008 13: 41 : 18.02
Office of the Clerk of the Superior Court of Richmond County, Georgia in Realty Reel
1 00 1, page 1379, is and forever shall be subj ect, 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:
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Book 01182'1941 A - -
2008030428 0~~~~~2~~~m~;~~~~~~. 02
Exhibit A
All that certain tract or parcel of land, with all improvements thereon, situate, lying and
being in the sih G.M.D. of Richmond County, Georgia containing 1.99 acres, as shown
on a plat prepared for Dozier Family Limited Partnership by James G. Swift &
Associates, dated June 21, 2005, and recorded in the Office of the Clerk of the Superior
Court of Richmond County, Georgia in Book 1, Page 1096. Reference is hereby made to
said plat for a more complete description of the property.
Said property is known as 1707 Broad Street, Augusta, Georgia.
Map and Parcel: 035-2-030-01-0
Filed in this office:
Augusta - Richmond County
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Elaine C. JOhnson---------------------
Clerk of Superior Court