13-21 Exhibit A - 181 High Street.pdf

MORTGAGE SUBORDINATION AGREEMENT Prepared By: Township of West Orange THE AGREEMENT is made the day of ,20 by the Township of West Orange, whose address is 66 Main Street, West Orange, NJ 07052 (The Subordination Party), and is + Calibe Hi Li rf TSAOA : being given to "7°" Pome Boentrene 120" (The Lender) whose address is 1199 South Beltline Road Suite 110, Coppell, TX PRESENT MORTGAGE/DEED OF TRUST. At the present time the Township of West Orange holds a mortgage (referred to as the present mortgage) for the maximum amount of 817145 . The present mortgage is dated 91/05/2010 and was made by Foley Dowd & Jennifer Dowd to the Township of West Orange. Township of West Orange also has a Note for payment that is secured by its present mortgage. This Mortgage covers property at 181 High St. West Orange, NJ 07052, located in the County of Essex in the State of New Jersey. This Mortgage was recorded on 01/12/2010 in the Office of the County Recording Offices of Essex County in Book 12235 Page (s) ©835__. The original amount of this present Mortgage was $17,145 P NEW MORTGAGE. The Lender is about to make a new mortgage loan in the principal amount not to exceed 5245, 000 which will be secured by a mortgage (referred to as the “new mortgage”) covering the same property as the present mortgage. SUBORDINATION. It is the intention of the parties that the present mortgage will be subject, and subordinate to the new mortgage including any renewal or extension of the new mortgage. CONTINUING EFFECT. This Subordination shall only affect the priority of the present mortgage. The present mortgage shall remain in full force and effect in all other respects. BINDING EFFECT. This subordination Agreement shall be binding upon the Township of West Orange and its successors and/or assigns. Witness: Township of West Orange By: By: