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NO CONSIDERATION SUBORDINATION AGREEMENT
AGREEMENT made this 21st day of July
19 71 between THE NORTH FORK BANK AND TRUST COMPANY, a banking corpor-
II ation organized and existing under and by virtue of the laws of the State of
New York having an office and principal place of business at Mattituck, New Yor
I, hereafter designated as the party of the first part, and the KONG ISLP;ND
LIGHTING COMPANY, a New York corporation duly organized and existing
under and by virtue of the Laws of the State of New York, having its principal
o �I office at 250 Old Country Road, Mineola, Nassau County, New York, herein-
!
o �^ after designated as the party of the second part.
cc3 w C
i WITNESSETH:
WHEREAS, the said party of the first partis the owner and
holder of a certain mortgage covering property hereinafter described or
i
J a art thereof, which mortgage is dated June 2 1969
a 1_ � � P7, and
was recorded in the Office of the Clerk of the County of Suffolk ,
�II on June 30, 1969 in Liber 56-33- -of,Mortgages, at page 253
W
F I
T 4 thereof.
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u: ch
WHEREAS, LAWRENCE LISO and FLORENCE LISO
A
�Iis the fee owner of the aforesaid mortgaged property which property is in
Southold , Town of Southold County of
i� Suffolk , State of New York, and shown on a map
entitled Map of Land Surveyed for Lawrence & Florence Liso
f�xlx�x�oCvs�x�xtix�cX�I�xkxo� �tit��x�Sttxti3FEx
xkK7)of 1Cxl2x S IP X�tSR
!I •
WHEREAS, the aforesaid fee owner is about to execute a certain
instrument conveying easements and rights of way affecting portions of said
property to the party of the second part as shown on "Exhibit A" annexed
hereto and made part hereof.
WHEREAS, on condition that the said mortgage be subordinated
ii as hereinafter provided, the party of the second part agrees to erect and
maintain pole lines for the distribution of electricity, and/or pipes for the
I transmission of gas, and/or underground conduits for the distribution of
electrical energy on, over, under, across, through and along the said
easements and rights of way as it deems necessary in order to provide
electric and/or gas service, all in accordance with the provisions of its
filed tariff schedules,
I I
NOW, THEREFORE, in consideration of the premises and to
induce said party of the second part to install and maintain its equipment as
aforesaid and also in consideration of One Dollar paid to the party of the
first part by the party of the second-part; the receipt whereof is hereby
acknowledged, the said party of the first part hereby covenants and agrees
with the said party of the second part that the said mortgage held by the said
party of the first part be and shall continue to be subject and subordinate to
II the aforesaid grant of easements and rights of way about to be made by the
owner of the said premises in favor of the party of the second part hereto.
I
11 20-21659-14o-524 Rage H1
FC-5852
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UIV
RECORDED AUG 6 1971 LESTER M. ALBERTSON
(� M_ Clerk of Suffolk.ComtM