CONTRACTOR’S AFFIDAVIT OF NO COMMENCEMENT
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”), will be acting as general contractor for the construction of improvements to the property generally known as ____________(hereinafter “Property”) pursuant to terms of that certain Agreement entered into between Contractor and ___________, (the “Owner”) for improvements to the Property.
3. That the Contractor has not yet furnished labor, materials or services to the Property.
4. 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 $_______.
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 materials, labor 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 initial amount of $__________________.
Deponent further says that this sworn statement is made to induce Lender to provide said 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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