NS - Loan Suborrdination of Deed of Trust - Chrysalis Foundation

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toi2i~oa oa:os Faa f~ooz 3 SUBORDINATION OF DEED OF TRUST RECORDATION REQUESTED BY: ROXBORO SAVINGS BANK, SSB; Math Office: 3'13 South Mafn Street; P. O. Box 488; Roxboro, NC 27573.0489 WHEN RECORDED MAIL TO: ROXBORO SAVINGS BANK, SSB; Main Office; 319 South MaM Street; P. O. Box 489; Roxbooo, NC 27573-0469 ' SEND TAX NOTICES 70: ROXBORO BAVINdS BANK, SSB; Maln Offloe; 313 South Main.Streat; P. 0. Box 488; Roxboro, NC 27673.0489 Tills Subordination of Deed of Trust prept~ed by: X tt . Arthur F. uege Jr Vice President r 4' NOTICE: THIS SUBO(iDINATION OF DEED RE LTS IN YOUR SECURITY INTEREST IN THE PROPERTY BECOMING SUBJECT ?O AND OF L 0 AN THE LIEN OF SOME OTNER OR LATER SECURITY INSTRUMENT. ! ,, y ~ tir' THIS SU80RDINATION OF DEED OF TRUST dated October 20, ` B Rs made and executed among Otattge County i"Benoficfary"F: Wayne R• 1'ladl.er {"Trustee"); The Chrysalis Foundeticn For Mental Health, Inc. ("Borrower"1; and ROX80R0 SAVINGS BANK, 888 S"Lender"1. SUBORDINATBD fNDEBTEDNESS. Beneflclary has extended the followtng described flnanclal accommodations, secured by the Real Property Ithe "Subordinated Indebtedness"j: ' Several Prwniasory Notes secured by Deeds of Trustto a Truateein favor of Orange County dated Ootober 17, 2003 and Juiy 22, 2003 and November 22, 2002 and February 2B, 2007 reapeetlvely, as they may relate to the properties securing the 8ubardlneted Indebtedness. SUBORDINATED DEED QF TRUST. The Subordinated Ind~tadnass is or will bo secured by the Rest Property and evidenced by a deed of mist dated as shown abovefrom The Chrysal}s Foundation for Mantel Health, Inc.t"Truster")to Geoffrey E, Gledhill ("Trusleo"1 to ievw vl Orange County (^8eneficiary"1 ltlto "Subordinated Deed of Trust"f end recorded in Orange County, State of.North Carolina es follows: • R8 3235, Page 351 Irecordad October 20, 2003) and RB 3112, Page 540 (recorded July 22, 2003] and RB 2804, Pags 161 leecorded November 28, 20021 end RB 4228, Page 178 leecordvd March 1, 2007); respectively as they may relate to the prope~tiea securing the Subordinated Indebtedness. REAL PROPERTY DESCRIPTION. The Subordinated Deed of Trust covers the following described real propetty (the "Real Property") bcated in Orange County, State of North Carolina: See Exhibit A, Which is attached to this Subordination antl made a part of this Subordination es if fully set forth herein. The Rest Property or its address is commonly known as t 12•A & 6 Johnson Street, 114 A & B Johnson Street, 1100 Roosevelt Drive, 110 A & 8 and• 112A Dillard Street and Units 203 and 213, Ashley Forest Condominitnns, Chapel Hill, NC. The Real Property tax identification number fs 9778949088 and 9789901447 and 9778494003 and 97$9385858.027 and 9789386858.022, respectively na they relate to the properties rel8ranced herein. , SUPERIOR INDEBTEDNESS. Lander has extended a has agreed to extend the following described financial accommodations to Borrower, secured by the Real Property (the "Superior Indebtedness"I: A Promissory Nota of even date herewith, seoureq by a Oeed of Trust to a Trustee in favor of the lender secured by iha above gesartbed real property located in Ghapel HIM, Orange County, North Carolina.