Fillable SUBORDINATION OF MORTGAGE (Foundation Title)

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SUBORDINATION OF MORTGAGE (Foundation Title)

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SUBORDINATION OF MORTGAGE
Made this _________ day of ________________, 20______,
BETWEEN:
herein designated as Subordinator,
AND:
herein designated as Subordinatee,
WHEREAS, the Subordinator is the holder of a mortgage, originally in the amount of $___________________,
and the bond, note or other obligation secured therein, dated _____________,
made by:
MORTGAGOR (borrower):
To
MORTGAGEE (lender):
upon the lands and premises therein described, lying and being in the County of _____________, and State of
New Jersey, which mortgage was recorded on _____________, in the Office of the Clerk / Register, County of
_____________, in Book ________, at Page _________ / Instrument No. ______________.
WHEREAS, the Subordinatee desires to place a First Lien Priority Mortgage on lands and premises owned by
_____________, known as _____________, Lot _____________, which First Lien Mortgage, the owner desires
to grant to Subordinatee.
WHEREAS, the Subordinatee will receive, accept and record a First Lien Mortgage and require that the
aforementioned mortgage held by the Subordinator shall be subordinated and postponed tothe First Lien
Mortgage to be granted by Subordinatee.
NOW THEREFORE, in consideration of the sum of ONE DOLLAR and other good and valuable consideration
the receipt whereof is hereby acknowledged, the Subordinator hereby accepts and agrees that the mortgage of the
Subordinator shall be subject, subordinate and inferior to the First Lien Mortgage about to be granted to the
Subordinatee, and to all renewals and extensions, notwithstanding the prior execution and recording of the
mortgage of the Subordinator, in the amount of $_____________ .
References herein to any parties, persons, entities or corporations, the use of any particular gender of the plural or
singular number is intended to include the appropriate gender or numbers of the text of the within instrument may
require.
Whenever in this instrument any party shall be designated or referred to by name or general reference, such
designation is intended to and shall have the same effect as if the words “heirs, executors, administrators, personal
or legal representatives, successors and assigns” had been inserted after each and every such designation.
IN WITNESS WHEREOF, the Subordinator has signed and sealed this Subordination of Mortgage, or if a
Corporation, has caused this Subordination to be signed by its proper corporate officers and its corporate seal to
be affixed, the day and year first above written.
Signed, sealed and delivered in
the presence of or Attested by:
________________________________
________________________________
By:
___________________________________________________
___________________________________________________
STATE OF ___________:
COUNTY OF ___________:
BE IT REMEMBERED, that on ___________ 20___, before me, the subscriber, ___________ personally
appeared, ______________________
_______________________________________________ who being by me duly sworn on his/her oath, deposes
and makes proof to my satisfaction,
1) That he/she is the Secretary of the Corporation named in the within instruments;
2) That ______________________ is the President of said Corporation;
3) That the execution, as well as the making of this instrument, has been duly authorized by a proper
resolution of the Board of Directors of the said Corporation.
4) That deponent well knows the corporate seal of said Corporation.
5) That the seal affixed to said instrument is the proper corporate seal and was thereto affixed and said
instrument signed and delivered by said President as and for the voluntary act and deed of said Corporation, in the
presence of deponent, who thereupon subscribed his/her name thereto as attesting witness.
Sworn to and subscribed before me
the date aforesaid.
________________________________
________________________________
Notary Public
STATE OF ___________ COUNTY OF ___________ SS
I certify that on ___________, _______________________________________ personally came before me and
this person acknowledged under oath, to my satisfaction, that
(1) is named in and personally signed this document.
(2) signed, sealed and delivered this document as his or her act and deed.
____________________________
NOTARY PUBLIC
Record & Return to:
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SUBORDINATION OF MORTGAGE (Foundation Title)

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Completed 23 September 2021

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