Agenda -11-06-2008 - 4m - Laserfiche WebLink

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10/21/08 00:03 FAS X002 3 SUBORDINATION OF DEED OF TRUST RECORDATION REQUESTED 8Y: ROX80R0 SAVINGS BANK, 556; Main Office; 313 Soutlt Main 5lreet; P. O. Box 489; Roxboro, NC 27573-0489 WHEN RECORDED MAIL T0: ROXBORO SAVINGS BANK, SSB; Mein Office; 318 South Maltt Street: P. O, Box 489; Rexboro, NC 27573-0489 ' SEND TAX NOTICES TO: ROXBORO SAVINGS BANK, SSB; Maltt Offioe; 313 South Main.streat; F. O. Box 489; Roxboro, NC 27873.0489 This Subordination of Deed of Trust preppted hy: X Arthur F. IC"rueae Jr.. Vice President NOTICE: THIS SUBORDINATION OF DEED O~' T ~RE ULTS 1N YOUR SECURITY INTEREST IN TWE PROPERTY BECOMING SUBJECT TO AND OF L '~~30R '~ AN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT. : ~~s; .t . ~=~t "•=r ~ ~s~llr THIS SUBORDINATION OF DEEb OF TRUST dated October 20, 208, fa made end executed among Orange County -"Bencficlary"}; Wayne R. Hailer a. {"Trustee"-; The Chrysalis Foundation for Mortal Health, Inc. ("Borrower"1; and ROXBORO SAVINGS BANK, SSB 1"Lander"l, SUBORDINATED INDEBTEbNESS. Beneficiary has extended the following described financial accommodations, secured by the Raa1 Property {the "Subordinated Indebtedness"): ' Several Pr'onNssory Notes secured by Deods of Trust to a Trustee ht favor of Orange County dated Ootober 17, 2003 and July 22, 2003 and November 22, 2002 and February 28, 2007 respectively, as they may relate to the properties securing the Subnrdlnatad Indebtedness. SUBORDINATED DEED qF TRUST. The Subordinated Indebtedneas is or will be secured by the Real Property and evidenced by a dead of trust dated as shoran ahovefrom The Chrysalis Foundation for Mental Wealth, Inc. !"Trustor") to Geoffrey E, Gledhill _ ("Trusleo"! in favor of Orange Ccunty ("Beneficiary"f ftho "Subordinated Deed of Trust") and recorded in Orange County, State of North Carolina as follows: RB 3235, Page 351 {tenorded October 20, 2003} and RB 3112, Paye 540 (recorded Juty 22, 2003) and RB 2804, Page 161 (recorded Novambor 28, 2002) and RB 4228, Page 176 (recorded March 1, 20071; respectively as they may relate to the propertiea securing ilte Subordinated indebtedness. REAL PROPERTY DESCRIPTION. The Subordinated Oeed of Trust covers the following described real property Ithe "Real Property") located in Orange Cnunty, Slate of North Carolina: See Exhibit A, which is attached to this Subordination and made a part of this Subordination as ii fully set forth herein, The Real Property or its address is commonly i[nown as 112•A & B Johnson Street, 114 A & B Johnson Street, 1100 Roosevelt Drive, 110 A & B and 112A Dillard Street and Units 203 and 213, Ashley Forest Cortdominit>tns. Chapel Hill, NC, The Real Property tax identification number is 9778949088 and 9789901441 and 9778494003 and 97$5385858.027 and 9789386658.022, respectively as they relate to the properties referenced herein. , SUPERIOR INDEBTEDNESS, Lander has extended or has agreed to extend the followiny described financiat occommodations to Borrower, secured by the Real Property Itt~e "Superior Indebtedness"!: A Promissory Note of even date herewith, secure[I qv a Peed of Trust to a Trustee in favor of the lender secured by the above described real property located in Chapel WIII, Oranye County, North Carolina.