Fill and Sign the Act Subordination Form

ACT OF SUBORDINATION :UNITED STATES OF AMERICA BY: ______________ :STATE OF LOUISIANA TO: ______________ :PARISH OF _______ BE IT KNOWN THAT on this ________ day of ____________________, 20 ___ , before me, ______________ , Notary Public, duly commissioned and qualified, in and for the Parish of _______ , State of Louisiana, therein residing, and in the presence of the witnesses hereinafter named and undersigned: PERSONALLY CAME AND APPEARED: ______________ , who declared unto me, Notary, that he is the holder of a certain promissory note in the sum of ______________ AND ___ /100 ($ _______ ) DOLLARS, dated _______ ___ , 20 ___ , drawn by ______________ and ______________ and payable to the order of ______________ , as follows: ______________ AND ___ /100 ($ _______ ) DOLLARS, bearing interest at the rate of _______ percent ( ___ %), and being due and payable on demand; the payment of which said note is secured by and said note is paraphed for identification with an act of mortgage executed before ______________ , Notary Public for the Parish of _______ , under date of _______ ___ , 20 ___ , which said mortgage is recorded in Book _______ , Folio _______ , under Entry No. _______ of the Mortgage Records of the Parish of _______ . Said appearer further declared the said ______________ and ______________ has on the ___ day of _______ , 20 ___ , by act executed before ______________ , Notary Public for the Parish of _______ , granted a mortgage in favor of ______________ , upon the identical property, which is subject to the mortgage referred to in the last preceding paragraph, which said mortgage in favor of ______________ is to secure a note in the principal sum of ______________ ($ _______ ) DOLLARS, payable at ______________ on Demand, and bearing interest at a yearly rate of _______ %. And said appearer further declared that it is his desire to subordinate in favor of the aforesaid mortgage to ______________ , the mortgage which secures the payment of the note held by appearer, and that for said purpose he does hereby consent and agree that the mortgage which secures the payment of the note held by him and which is duly recorded in Book _______ , Folio _______ , under Entry No. _______ , shall in all respects and for all purposes be subordinate and inferior to the aforesaid mortgage granted by ______________ and ______________ in favor of ______________ ; it being the intent and purpose of said appearer that the said mortgage in favor of ______________ , shall be and at all times remain a first mortgage upon the property therein described, and that the mortgage which secures the payment of the note held by said appearer shall be and at all times remain a second mortgage upon the property therein described, and in the event of a sale of the said mortgaged property, by foreclosure or otherwise, the said note dated the ___ day of _______ , 20 ___ , and paraphed for identification with an act of mortgage before ______________ , shall be paid by preference and priority in principal, interest, attorney = s fees and costs over the note held by appearer dated _______ ___ , 20 ___ as aforesaid. And said appearer does now declare that he hereby authorizes and directs the recorder of mortgages for the Parish of _______ to note upon the records of his office an appropriate reference to this subordination; and said appearer produced and delivered to me, Notary, the mortgage note dated _______ ___ , 20 ___ , held by appearer has hereinabove described, which said note, after having been paraphed A Ne Varietur @ by me, Notary, for identification with this act, was delivered by me, Notary, to said appearer, who hereby acknowledges the receipt thereof. THUS DONE AND PASSED on the day, month and year herein first above written, in the presence of the undersigned competent witnesses, who hereunto sign their names with the said appearers and me, Notary, after reading of the whole. WITNESSES: ____________________________ ______________ ____________________________ BY:_________________________________ Duly Authorized ________________________________ NOTARY PUBLIC