Fill and Sign the Consent and Acknowledgment of Subordinate Mortgage Mississippi Form

CONSENT AND ACKNOWLEDGMENT OF SUBORDINATE MORTGAGEE THIS CONSENT AND ACKNOWLEDGMENT is made and entered into as of this ____ day of _________ , _______ , by ___________________ , a National Banking Association (hereinafter referred to as "Subordinate Mortgagee") in favor of ___________________ , a ___________________ Limited Partnership, having a principal office and place of business at ___________________ , ___________________ , Mississippi ______ (hereinafter referred to as "Borrower"), and in favor of ___________________ , having its principal office and place of business at ___________________ , ___________________ , ___________________ ______ (hereinafter referred to as " ______________ ") ; W I T N E S S E T H: WHEREAS , in connection with Loan No. ______________ made to ___________________ (hereinafter referred to as "Seller"), Seller executed a certain Mortgage Note (hereinafter referred to as "Note") in favor of ___________________ , dated __________ ____ , _______ , in the amount of ___________________ and ___ /100 Dollars ($ ___________ ), with interest at the rate of ___________________ percent ( __ %) per annum, the principal and interest being payable in monthly installments of ___________________ Dollars ($ __________ ), with the last installment (including the entire unpaid balance of principal and interest) falling due on __________ ____ , _______ , all of which is set out in the aforementioned Note, which Note was duly assigned by __________ ____ to __________ ; and WHEREAS , Seller also executed, as security for the aforesaid Note, that certain Deed of Trust (hereinafter referred to as " __________ Deed of Trust") in favor of __________ , dated, __________ ____ , _______ which encumbered land described therein, and which was recorded in Book _____ at page _____ in the office of the Chancery Clerk of the ______ Judicial District of ______ County, Mississippi, at __________ , Mississippi; said __________ Deed of Trust was duly assigned by __________ , to __________ by instrument dated __________ ____ , _______ , of record in Book _____ at page _____ in the office of said Chancery Clerk; said __________ Deed of Trust was later modified by Deed of Trust Modification dated __________ ____ , _______ , of record in Book _____ at page _____ in the office of said Chancery Clerk; and said _______ Deed of Trust was later modified by Deed of Trust Modification dated __________ ____ , _______ , of record in Book _____ at page _____ in the office of said Chancery Clerk; and WHEREAS , __________ has loaned Borrower, under its Loan No. __________ , the sum of __________ Dollars ($ __________ ) in return for a Promissory Note of Borrower secured by a Deed of Trust and Security Agreement (hereinafter referred to as " __________ Deed of Trust") encumbering the Premises described therein, which __________ Deed of Trust is of record in Book _____ at page _____ in the office of the Chancery Clerk of the __________ Judicial District of __________ County, Mississippi, at __________ , Mississippi; and WHEREAS . __________ is corporate successor by merger to __________ effective ___________ ___ , _______ ; and WHEREAS , said __________ Deed of trust and __________ Deed of trust are hereinafter jointly referred to as the "Senior Mortgage"; and WHEREAS , Borrower desires to enter into the Cancellation Agreement, a copy of which is attached hereto as Exhibit "l", and desires ________ 's consent to such Cancellation Agreement; WHEREAS , Borrower owns a building located on the Land described in Exhibit "A" of said Cancellation Agreement; and WHEREAS, Subordinate Mortgagee is the Beneficiary under that certain Deed of Trust recorded in Book _____ at page _____ of the land records of the office of the Chancery Clerk of County at _____ , Mississippi (the "Subordinate Mortgage"); and WHEREAS , ____________ will not consent to said Cancellation Agreement unless Subordinate Mortgagee also consents to said Agreement; NOW, THEREFORE , in consideration of the mutual premises contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties hereto, the Subordinate Mortgagee does hereby represent, covenant and agree as follows: 1) The Subordinate Mortgagee hereby consents to the Cancellation Agreement, provided, however, this consent is limited to the Cancellation Agreement described above and shall not be deemed to be a consent to any future lease cancellation agreement. 2) The Subordinate Mortgagee does hereby acknowledge and agree that the Subordinate Mortgage, any other document evidencing, securing or guaranteeing the indebtedness secured by the Subordinate Mortgage or otherwise executed in connection with the Subordinate Mortgage (collectively, together with any extensions, modifications, substitutions and consolidations thereof, being hereinafter collectively referred to as the "Subordinate Loan Documents") and all advances made thereunder are, and shall continue to be, subject and subordinate in lien and in payment to the lien and payment of the Senior Mortgage and any other document evidencing or securing the indebtedness secured by the Senior Mortgage, including all assignment(s) of leases and assignment(s) of rents, in favor of _________ , or otherwise executed in connection with Senior Mortgage (collectively, together with any extensions, modifications, substitutions and consolidations thereof, being hereinafter collectively referred to as the "Senior Loan Documents") and all advances made thereunder, together with all interest, prepayment premiums and all other sums due under the Senior Mortgage, and the Note secured thereby. All of the terms, covenants and conditions of the Subordinate Mortgage and the Subordinate Loan Documents are, and shall continue to be, subordinate to all the terms, covenants and conditions of the Senior Mortgage and the Senior Loan Documents. IN WITNESS WHEREOF , the undersigned has duly executed this Consent and Acknowledgment this the ____ day of _________ , _______ . ______________________________ By: __________________________________ STATE OF MISSISSIPPI COUNTY OF _________ Personally appeared before me, the undersigned authority in and for the said County and State, on this ____ day of _________ , _______ , within my jurisdiction, the within-named ___________________ , who acknowledged that he is ______________________ of _________ , a National Banking Association, and that for and on behalf of said Bank, and as its act and deed, he executed the above and foregoing instrument, after first having been duly authorized by said Bank so to do. _________________________ Notary Public My Commission Expires: _____________________