AND LIEN SUBORDINATION
Personally appeared before me, the undersigned authority duly authorized, ______________________(hereinafter “Deponent”) who has personal knowledge of the facts stated herein, and being duly sworn deposes and states as follows:
1. That Deponent is the _____ of Contractor (defined below), and is authorized to act solely on behalf of the Contractor for the purposes hereof.
2. That ____ (hereinafter the “Contractor”), is acting as general contractor for the construction of improvements to the property as further described in Exhibit “A”, attached hereto and incorporated herein (the “Property) which is owned by (the “Owner”). The Contractor has recently furnished materials and services and is now furnishing materials and services for the making of such improvements upon the property described as follows:
3. That the Owner is now executing a Deed to Secure Debt and Security Agreement to ___ (hereinafter the “Lender”) upon the Property to secure a loan in the amount of $_________.
4. Deponent says that the Contractor has been in direct charge of the construction of the improvements placed on the Property, and Deponent states that said improvements have been constructed in accordance with zoning and code requirements and said improvements are within the boundary line.
5. That in consideration of the sum of Ten Dollars ($10.00) in hand paid, and in order to enable the Owner to obtain said loan, the Contractor hereby subordinates in favor of the Lender any claim or lien which the Contractor may now have or hereinafter have against the Property for labor, materials or services expended or used upon the same, and as to said Deed to Secure Debt and Security Agreement from Owner to Lender, dated, recorded, Deed Book__, Page__, ________ County, Georgia Records, in the principal amount of $__________________.
6. That the Deponent hereby certifies that Contractor is in charge of construction (and that any services of architects, surveyors, laborers, materialmen, subcontractors, engineers or other persons or entities have been paid), and that no person or entity is entitled to a claim of lien for services, labor or materials used or employed in the improvements or repairs of the Property except __________ (If any labor, materials or supplies provided within the last 95 days, attach a list of all such persons who provided the labor, materials or services along with a description of the type performed as Exhibit “B”)
7. Deponent says further that that all subcontractors, suppliers, materialmen, and laborers have been paid in full the agreed price or reasonable value of all labor or supplies furnished or services rendered through ____ (“Date of Closing”).
8. Deponent further says that there are no unpaid bills of any nature, for labor, material, or services for any improvements made on the Property, either in the construction or repair of any improvements thereon, and that there are no retention title contracts, bills of sale, or other encumbrances of record affecting title to any personal property installed on the Property. Deponent states that all parties listed in Exhibit “B” hereby acknowledge receipt of payment in full for all amounts due and owing through Date of Closing for making all of the improvements on the Property, and all parties listed in Exhibit “B” hereby waive, relinquish, and release any and all rights to any lien on the Property for labor, services or material furnished through Date of Closing.
9. Deponent further says that this sworn statement is made in conformance with the provisions of O.C.G.A. § 44-14-361.2 (GCA § 67-2001.1) to induce ___, as Lender to make a loan secured by the Property and further to induce Stewart Title Guaranty Company to issue its title insurance policy insuring the title to the Property.
WITNESS the hand and seal of the undersigned, this _____ day of __________, 2020.
Sworn to and subscribed before
notary public this _____ day of
_____, 2020. ____________________________
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