Agricultural easement and Warranty Deed - Fickle Creek Farm

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gSaq- 89- 3�9�;t,'Ao � o4 3 Ip p Igulipj 1111iI �Ipi dII I 11 1I 20171206000240950 AGMT Bk:RBS400 Pg:64 12108/2017 12:55:22 PM 112 FILED Mark Chilton Register of Deeds, Orange Co,NC Recording Fee: $26.00 NC Real Estate TX: $.00 Prepared by and Return to: Brian M. Ferrell, Kennon Craver, PLLC, P.O. Box 51579, Durham, NC 27717 -1579 SUBORDINATION AGREEMENT This Subordination Agreement is made this day of�,.�(� r 2017 by and between Carolina Farm Credit, ACA ( "Lender "), Noah N. Ranells, Ben A. Bergman, and Fickle Creek Land Co., LLC (collectively, "Owner "), and Orange County ( "County "). RECITALS: A. Owner borrowed funds from Lender, which loan is secured by that certain Deed of Trust executed by Owner in favor of Walter J. Cook, Jr. as Trustee, for the benefit of Lender, dated July 3, 2014 and recorded in Book 5813, Page 478, Orange County Registry, (the "Deed of Trust "). B. With the express consent of Lender, Owner has encumbered the property that is encumbered by the Deed of Trust (the "Property "), with that Warranty Deed of Agricultural Conservation Easement recorded in Book 6#00 , Page County Registry (the "Easement "). C. Owner has requested that Lender subordinate the Deed of Trust to the Easement, and Lender has agreed to the same. AGREEMENT: Lender, for good and valuable consideration to it in hand paid, the receipt and sufficiency of which is hereby acknowledged, does hereby contract and agree with County and Owner that the Easement shall be superior to Lender's right, title and interest in the Property, that any deed pursuant to foreclosure of the Property or any portion thereof or any deed in lieu of foreclosure will be subject to the Easement; and to effectuate said subordination, Lender does hereby release, remise and forever quitclaim unto County and Owner its right, title and interest in and to the Property and its lien thereon only to the extent that the liens of the Deed of Trust and Assignment of Rents shall be subordinated to the Right -of -Way Easement. It is expressly understood and agreed that, except for such subordination, all the terms and conditions of the Deed of Trust shall remain in full force and effect. The above recitals are incorporated in this agreement as if fully set forth herein.