93-22 Exhibit to Resolution Authorizing Subordination of Mortgage for 12 Eagle Terrace.pdf

Recording Requested By/Return To: Wells Fargo Bank, N.A. MAC N9410-046 2650 Wells Fargo Way Minneapolis, MN 55467 1-877-852-1162 This Instrument Prepared by: Wells Fargo Bank, N.A. MAC N9410-046 2650 Wells Fargo Way Minneapolis, MN 55467 1-877-852-1162 ____________________________________________________________________________________ [Space Above This Line for Recording Data] SUBORDINATION AGREEMENT Senior Lender: Wells Fargo Bank, N.A., its successors and assigns – 420 Montgomery St., San Francisco, CA 94104 Subordinating Lender: Township of West Orange IN CONSIDERATION of One Dollar ($1.00) and other good and valuable consideration, the receipt of which is hereby acknowledged, the undersigned, “Subordinating Lender” being the holder of a certain mortgage deed (“Existing Security Instrument”) made by Justina M. Thomson, recorded on December 14, 2005 in Official Record as #5183242, Book 10926 Page 452, for the property address at 12 Eagle Terrace, West Orange, NJ 07052, more specifically identified as Block 148, Lot 13 as shown on the current tax map for the Township of West Orange, in the amount of $14,976.00 in the Recorder’s Office of Essex, NJ, upon the following premises to wit: SEE EXHIBIT “A” ATTACHED AND MADE A PART THEREOF For itself, its successors and assigns, “Subordinating Lender”, does hereby waive the priority of the “Existing Security Instrument”, in favor of a “Senior Lender” mortgage on the Property (the “New Security Instrument”), in an amount not to exceed $99,920.00, to be recorded concurrently with this agreement. “Existing Security Instrument” shall be unconditionally subordinate to the “New Security Instrument”, in the same manner and with like effect as though the said later encumbrance had been executed and recorded prior to filing for record of the “Subordinating Lender” mortgage, but without in any manner releasing or relinquishing the lien of said earlier encumbrance upon said premises.