SUBORDINATION

...the said party of the first part hereby covenants and agrees with the said party of the second part that the mortgages held by the said party of the first part be and shall continue to be subject and subordinate in lien to the lien of the consolidated Mortgage more particularly described in Schedule A hereto in the aggregate principal sum of $ ___________ and interest, and to all advances heretofore made or which hereafter may be made thereon to the extent of the last mentioned amount and interest, and all such advances may be made without notice to the party of the first part and to any extensions, renewals, and modifications thereof.