Fill and Sign the Deed of Trust Subordination Agreement Docprep Online Form

SUBORDINATION AGREEMENT(Deed of Trust to Storage Agreement) STATE: COUNTY: On ______, _____ executed and deliver to ______, as Trustee for _____, a Deed of Trust covering the following tract of land in _____ County, _____: (Description of Lands) The Deed of Trust is recorded in Book/Volume _____, Page _____, of the _____ Records of that County, to secure the payment of certain indebtedness, as more fully set out in the Deed of Trust. Reference is made to the Deed of Trust for all purposes. The present owner of the lands described above has executed an Underground Storage Lease and Agreement (the “Lease”) to _____, as Lessee, covering the described lands. The Lease is dated to be effective _____. A Memorandum of the Lease Agreement is recorded in Book/Volume _____, Page _____ of the _____ Records of _____ County, _____. The Lessor desires that the Lease, as to the interests it covers, be superior to the Deed of Trust and the lien created by it. The undersigned, being the present holder and owner of the indebtedness and lien created by the Deed of Trust, for adequate consideration, the receipt and sufficiency of which is acknowledged, and in order to induce the Lessee to make use of the Lease, agrees that the lien shall be and is hereby made subordinate, subject to, and inferior to the Lease. In the event of a sale of the lands by the Trustee under the power of sale provided for in the Deed of Trust, it is agreed that the leasehold estate created by the Lease shall in no wise be a ffected by a sale. It is understood and agreed, however, that the lien shall not be impaired as to the Lessor’s reversionary estate, the possibility of reverter, or as to any payment to the Owner of the described lands provided for in the Lease. This Agreement is executed as of the date of the acknowledgment below, but shall be deemed effective, for all purposes as of the date of the Lease described above. LIENHOLDER (Acknowledgment)