HomeMy WebLinkAboutJUANITA L GORDON
Augusta Richmond GA
DOCUMENT NAME: JUo.r\rtC\ L. C-,'(e€K\
DOCUMENT TYPE: Qj '( eement
YEAR: 0'0
BOX NUMBER: \ q
FILE NUMBER: \ 1o<6 \ ~
NUMBER OF PAGES:
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STATE OF GEORGIA
COUNTY OF RICHMOND
SUBORDINATION AGREEMENT
The undersigned is the holder and owner of one Deed to Secure Debt made by
Juanita L. Gordon, (hereafter named the borrower), dated J me 23, 1999 and
recorded in Book 650 , page 2210 , in the Office of the Clerk of
Superior Court of Richmond County, Georgia, which was made to secure an
indebtedness of $20,000;
On 02/18/03, Juanita L.Gordon applied fora loan with Countrywide Home Loans
in the amount of $60,000 and is approved conveying the same said property but
only on the condition that said Security deed be a first lien.
NOW, THEREFORE, in consideration of One Dollar ($1.00) in hand paid by the
said Borrower to the undersigned, and in consideration of the consummation said
loan in reliance upon this instrument, the undersigned hereby waives and
subordinates all rights, title or interest under its outstanding security Deed above
set forth, or otherwise, in and to the property therein described, as against said
loan to be so made by the lender, so that the Security Deed to be executed by
the Borrowers to the Lender shall convey title to the property superior to the
outstanding Security Deed of the undersigned and superior to the indebtedness
thereby secured. This Subordination Agreement shall be binding upon their
successors and assigns of the undersigned, and shall operate to the benefit of
the Grantee in the Security Deed Debt, the successors and assigns of said
Grantee, and of any purchaser at any foreclosure sale thereunder, and shall
apply with like force and effect to any renewal thereof.
The said outstanding Security Deed now held by the undersigned shall remain
otherwise in full force and effect as a second lien, the waiver and subordination
herein provided being limited in application only to the loan herein set forth, or
any renewal thereof.
WITNESS, the hand and seal of the undersigned, this /.51 d~y of d~ , 2003.:,
1k..a ....rf4. G;.e~ea.. ~ 6.e--.hf! rI
Augusta Richmond County Housing &
Neighborhood Development dept.,
Housing rehabilitation Program
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SIGNED, SEALED AND DELIVERED
I n the presence of:
7{>'LH-y kJ ~~~
Witness
1Ja~~ tV 'In~
Notary P ic
Notary PubUc. Columbia County, Georgia
My Commission ExpIres Aug; 1.2006