NY Affidavit and Hold Harmless Agreement

AFFIDAVIT AND HOLD HARMLESS AGREEMENT

State of New York                                                                 Title No. NYT11102
                                        ss:                                                   
County of ________                                                              

I, Jessie Marcin, being duly sworn, depose and state the following to be true under the penalty of perjury:

I am the ____________________________ (title) of JPMorgan Chase Bank, N.A.,

I have the authority to engage in this Agreement on behalf of JPMorgan Chase Bank, N.A.

WHEREAS, a credit line mortgage was made by John W. Hefferman, Jr. (mortgagor) with BNY Mortgage Company, LLC (mortgagee), in the amount of $115,000.00 which was dated 5/27/1999 and recorded 10/25/1999 in Liber 26269 Page 174 in the Westchester County Clerk’s Office, Division of Land Records.

WHEREAS said credit line mortgage is being paid off internally by and through JPMorgan Chase Bank, N.A.  Indemnitors agree that within 30 days of closing they will submit for recording a fully executed Satisfaction of Mortgage.

This Agreement is made by and between JPMorgan Chase Bank, N.A. (hereinafter called Indemnitors) __________________________, as agents for Stewart Title Insurance Company (hereinafter called Company).

WHEREAS, the Indemnitor has requested the Company to issue its policy of title insurance insuring an interest in, or title to the real estate in Westchester County, described in Title No. NYT11102, issued by the Company and commonly knows as 629 Ridge Street, Peekskill, NY.

And

WHEREAS, the Company is unwilling to issue such policies unless exception is made for said credit line mortgage.

And

WHEREAS, the Indemnitor has offered to indemnify the Company if the Company will insure against loss which may result from the exceptions.

NOW, THEREFORE, to induce the Company to issue its policies insuring an interest in, or title to, the real estate referred to above, which policies will, in consideration of this Agreement and at the request of the Indemnitor, indemnify the named insured against loss which may result from the Exceptions.

The Indemnitor hereby indemnifies and aggress to hold the Company harmless from all liability, loss, or damage of any nature, including attorneys’ fees and expenses incurred in enforcing this Agreement, which the Company may sustain resulting from the insurance, either now or in the future, of policies of title insurance, which indemnify the named insured in the policies against loss that may result from the Exceptions.

_________________________________
Jessie Marcin

State of New York           )
                                          ) ss:
County of ____________ )

On the __________ day of ____________________ in the year ____________ before me, the undersigned, personally appeared _______________________, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledge to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument.

                                                                                                ________________________
                                                                                                            Notary Public