NY 020 - Subordination Agreement (of Mortgage) (NYBTU 8030) CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENT - THIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLY AGREEMENT, made the day of , in the year BETWEEN party of the first part, and party of the second part, WITNESSETH: and the bond WHEREAS, the said party of the first part now owns and holds the following mortgage or note secured thereby: Mortgage dated the day of , in the year made by to in the principal sum of $ of Mortgages, page and recorded in the liber in the office of the of section of the covering premises hereinafter mentioned or a part thereof, and WHEREAS, the present owner of the premises hereinafter mentioned is about to execute and deliver to said party of the second part, a mortgage to secure the principal sum of dollars and interest, covering premises American LegalNet, Inc. www.USCourtForms.com and more fully described in said mortgage, and WHEREAS, said party of the second part has refused to accept said mortgage unless said mortgage held by the party of the first part be subordinated in the manner hereinafter mentioned, NOW THEREFORE, in consideration of the premises and to induce said party of the second part to accept said mortgage and also in consideration of one dollar paid to the party of the first part, the receipt whereof is hereby acknowledged, the said party of the first part hereby covenants and agrees with said party of the second part that said mortgage held by said party of the first part be and shall continue to be subject and subordinate in lien to the lien of said mortgage for dollars and interest about to be delivered to the party of the second part hereto, and to all advances heretofore made or which hereafter may be made thereon (including but not limited to all sums advanced for the purpose of paying brokerage commissions, consideration paid for making the loan, mortgage recording tax, documentary stamps, fee for examination of title, surveys, and any other disbursements and charges in connection therewith) to the extent of the last mentioned amount and interest, and all such advances may be made without notice to the party of the first part, and to any extensions, renewals and modifications thereof. This agreement may not be changed or terminated orally. This agreement shall bind and enure to the benefit of the parties hereto, their respective heirs, personal representatives, successors and assigns. The word “party’ shall be construed as if it read ‘parties” whenever the sense of this agreement so requires. IN WITNESS WHEREOF, the said party of the first part has duly executed this agreement the day and year first above written. IN PRESENCE OF: American LegalNet, Inc. www.USCourtForms.com USE ACKNOWLEDGMENT FORM BELOW WITHIN NEW YORK STATE ONLY: State of New York, County of } ss.: On the day of before me, the undersigned, personally appeared in the year , personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument. USE ACKNOWLEDGMENT FORM BELOW WITHIN NEW YORK STATE ONLY: State of New York, County of } ss.: On the day of before me, the undersigned, personally appeared in the year , personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument. ACKNOWLEDGMENT FORM FOR USE WITHIN NEW YORK STATE ONLY: {New York Subscribing Witness Acknowledgment Certificate} STATE OF NEW YORK, COUNTY OF On the day of before me, the undersigned, personally appeared } ss.: in the year , the subscribing witness to the foregoing instrument, with whom I am personally acquainted, who, being by me duly sworn, did depose and say that he/she/they reside(s) in (if the place of residence is in a city, include the street and street number, if any, thereof); that he/she/they know(s) to be the individual described in and who executed the foregoing instrument; that said subscribing witness was present and saw said execute the same; and that said witness at the same time subscribed his/her/their name(s) as a witness thereto. American LegalNet, Inc. www.USCourtForms.com ACKNOWLEDGMENT FORM FOR USE OUTSIDE NEW YORK STATE ONLY: {Out of State or Foreign General Acknowledgment Certificate} . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . } ss.: (Complete Venue with State, Country, Province or Municipality) On the day of before me, the undersigned, personally appeared in the year , personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), that by his/her/ their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument, and that such individual made such appearance before the undersigned in the (Insert the city or other political subdivision and the state or country or other place the acknowledgment was taken). SUBORDINATION AGREEMENT OF MORTGAGE TITLE NO. DISTRICT SECTION BLOCK LOT COUNTY OR TOWN TO RECORDED AT REQUEST OF Fidelity National Title Insurance Company RETURN BY MAIL TO FIDELITY NATIONAL TITLE INSURANCE COMPANY INCORPORATED 1928 RESERVE THIS SPACE FOR USE OF RECORDING OFFICE Member New York State Land Title Association American LegalNet, Inc. www.USCourtForms.com